Broker Preview Event - Thursday May 29th @ 5pm sharp! Contact us today and we will get you in!

Rising at the corner of Dundas and Carlaw, the project’s location is undeniably hot, attracting buyers with an affinity for Toronto’s east end district – The Beach, Riverdale, Leslieville – both for its pace, and its price, says Brad Lamb, President and CEO of Lamb Development Corporation, the developer behind the Flatiron Lofts project. “A lot of people are starting to notice Carlaw Street as a very vibrant corridor that’s a lot less expensive than downtown.”

Take it from Lamb – this broker-turned-developer knows what sells, and why. “We’ve done marketing for Printing Factory Lofts, Garment Factory Lofts, and three townhouse projects a stone’s throw from this Carlaw-Dundas-Queen area, and they were all very successful. This is just the next generation of properties here to finish this street up.”

To put the finishing touches on this trendy neighbourhood, Lamb enlisted the help of Charles Gane of Core Architects to make the most of the property’s irregular shape, its location, and its endless possibilities for exterior and interior details. The result, says Lamb, is a “beautiful building shaped like a wedge, driving the intersection, and creating an entrance to the neighbourhood.”

In fact, Flatiron Lofts takes its name from the building’s shape, which is something of a rarity. “There are very few buildings around the world that have this flatiron shape, and we thought it would be a very cool thing for that corner,” says Lamb.

Like Worklofts, Flatiron Lofts will offer both residential lofts and commercial lofts, notes Shakeel Walji of The Walsh Group, the ad agency for the new development. “Brad has made a conscious effort to keep the business area active on Carlaw Street.”

In light of that, Flatiron Lofts is a glass-and brick structure rising 10 floors. The first floor is devoted to retail and the second floor are commercial studio lofts. The third to tenth floors house 85 residential lofts. Starting from 455 sq. ft., layouts include one-bedroom, one-bedroom-plus-den, two-bedroom and two-bedroom-plus-den layouts. Topping off the project, a 1,400-sq.-ft. sub-penthouse and a 2,200-sq.-ft. penthouse offer permanently unobstructed and awe-inspiring panoramic views of the city skyline.

This unique flatiron shape of the building allows for what Lamb calls “wide shallow lofts.” As opposed to typical 15 ft. wide and 45 ft. deep layouts, which often result in dark spaces, Flatiron Lofts offers units that are 20 ft. deep and 25 or 30 ft. wide, maximizing on windows and natural light, creating a bright and open feeling.

Whether you’re looking at a penthouse or one of the smaller suites, Lamb has outfitted each unit with nine-ft. ceilings, floor-to-ceiling windows, and finishes that would be considered upgrades by any other standard.

Kitchen feature double-thick stone counters, high-gloss European cabinetry, and gas cooking with quality stainless steel GE appliances. Bathrooms boast what Lamb calls “designer magazine-style” vanities and fixtures. “They’re just beautiful.” Floors are finished in 12-by-24-inch tile. Fifty per cent of the suites offer balconies, terraces and patios, which are outfitted with natural gas for year-round barbecuing.

Commercial studios at Flatiron Lofts start at a price of $179,000, while residential lofts start from $199,900. With the plans starting to take shape, and move-in dates slated for 2010, buyers wanting to make this coveted east-end neighbourhood home should hurry.

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The Sales Centre is nearing completion now and only registered buyers will be invited to a preview appointment. Contact us today and let us know if you want to be first in line to preview the latest condo project in King West.

As more information becomes available, we’ll be able to send you previews of literally dozens of spacious floorplans, including their unique soho-style 2 bedroom/2 bathroom suites from under $294,900 - as well as breathtakingly sunlit corner plans, rare 1 bedroom + den/2 bathroom plans, and plans with giant terraces up to 1,100 square feet - and more!

Learn about the luxurious standard suite features; building amenities such as the 25th floor Lakeview Club, the pool and arcade, the landscaped courtyards and breathtaking lake and city views; learn about the King West Life; and  learn more about this unprecedented opportunity to own a spacious truly livable new home filled with luxurious standard finishes in the King West/Liberty Village Community.

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Contact the Jeffrey Team for more information - 416-388-1960

A fairer property tax appeal system is expected with changes announced by the provincial government. The changes mean the onus of proof on property assessment appeals is reversed so that, when a property owner appeals an assessment, the Municipal Property Assessment Corporation (MPAC) would be required to prove the accuracy of the new assessment.

The government move follows the Ombudsman’s recommendation that this measure would enhance the fairness of the appeal process. The legislation would place the onus on MPAC to prove the accuracy of property assessments that are appealed to the Assessment Review Board (ARB).

The government also intends to introduce legislation to implement changes to the assessment appeal system announced in the 2007 Budget — changes designed to create a more streamlined and transparent appeal system. A key proposed change would make the Request for Reconsideration (RFR) program the first stage of the appeal process for property owners. The RFR, which is free of charge, encourages the sharing of information between MPAC and the property owner, and provides taxpayers with the opportunity to resolve their concerns directly with MPAC in an informal setting.

The Ministry of Finance is also working with MPAC and the ARB to disclose valuation information to taxpayers about their property assessment in a timely way. This will help property owners review the accuracy of their assessment, decide whether to engage in the RFR process, and prepare for their hearing if they decide to appeal to the ARB.

These measures are proposed to take effect for the 2009 taxation year. Details about the proposed new appeal procedures and deadlines will be communicated to property owners in the coming months, prior to the 2009 implementation date.

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Only a few great suites remain! Take advantage of a broker’s open house this weekend only - make an appointment with us to go to the sales centre. Prices still start as low as the $180s up to the $550s with layouts from one-bedroom up to two-bedrooms-plus-den. With occupancy scheduled for this October, the building is almost complete!

People looking for a new London home better move fast - London on the Esplanade is almost sold out.

“I’ve done this for over 20 years,” says Phyllis Shapiro, the project’s sales manager. “I always tell people to buy location. There is so much around here that you literally don’t need your car.”

The two buildings and podium will sit right behind the Hummingbird Centre, south of Front Street and east of Yonge.

“A lot of people have commented over the years the area reminded them, especially with all the pubs, of London,” Shapiro says. “People who live in this area, or who wanted to live in this area didn’t have a lot of options before.”

Shapiro is moving in herself, something she has never done with any project she’s worked on in the past two decades. She says the first incentive was the location, but second was the layout.

“The architect did a very good job with his floorplan. He’s really utilized his space well,” she says.

Burka Varacalli Architects, who were involved with projects such as the Bayview Mansions, the St. James Cathedral and 801 Bay St., have designed 12 different “London flat” suites and nine different lofts.

Floor-to-ceiling windows, pre-finished engineered wood floors and mirrored sliding doors in all bedroom closets are among some of the suite features.

“Club London” will have spa rooms, a fitness centre, a London-styled pub and cinema among other amenities.

As for the external look of the building, Shapiro says, “The large tower will suit the financial district and incorporate a brick inlay to keep with the area. People really like that feel.”

Shapiro says another sales representative has bought on this project as well.

“I live up north so this will be a big change for me but I really like this block,” she says. “Other people are moving from the north. They want to get back into the night life — their kids have grown up.”

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Contact the Jeffrey Team for more information - 416-388-1960

For most Canadians, homeownership is as much about financial well being as it is about comfort, security and a sense of pride.

That’s why Genworth Financial Canada believes that consumers need to be well informed before they make one of the most important financial decisions of their lives.

Building equity in your own home, while enjoying the experience of being a homeowner, is a priority for millions of Canadians. And now there are more options available to help you realize the dream of homeownership.

Best to start by understanding your current financial situation. Assess your own credit conditions and speak to a mortgage professional about obtaining a pre-approved mortgage.

Check your credit rating, available from such agencies as Equifax Canada Inc. and TransUnion Canada. Consider your total debt obligations and weigh your ability to manage mortgage payments.  You should budget to spend no more than 32% of your pre-tax income on housing costs (mortgage payments, property tax & heating costs) and use no more than 40% of your income to service all debts including your mortgage.

New mortgage products, such as extended amortizations, can help you make the transition to homeownership. In addition to the traditional 25-year mortgage amortization (the time you’ll take to pay the loan back in full, with interest), there are now 30-, 35- and 40-year amortizations available.

Extended amortization products can help buyers with good credit become homeowners sooner. But they’re not without some drawbacks.

A home purchased with a 40-year amortization mortgage will carry significantly higher interest costs over the life of the mortgage than one purchased with a 25-year mortgage, assuming you use the entire amortization period to repay the loan. For example a $250,000 mortgage at 6.5% with monthly payments paid over 40-years will cost $445,177 in interest. If that amortization were 25-years, the consumer would pay $252,368 in interest, a savings of $192,809.

Extended amortization products should be viewed as a tool to help you become a homeowner sooner. However, there are options available for paying down mortgage debt more quickly than the original amortization period chosen.  For example, mortgage loans in Canada generally end after five years, after which time you have the option of choosing a shorter amortization period.  By doing so, you’d save interest charges and eliminate your mortgage sooner. Similarly, the average Canadian moves every seven years, which ends their mortgage and provides an opportunity to choose a shorter amortization period.

Also consider that mortgages in Canada offer pre-payment allowances of between 15-20% of the original mortgaged amount, usually on an annual basis. Some consumers use their income tax refund from RRSP contributions for this purpose.

Accelerated payment options are another great tool to reduce mortgage debt. For example, a 40-year amortization period can be cut to about 32 years by moving from a monthly to accelerated bi-weekly payment schedule. If you make additional payments or double-up your mortgage payment through-out the year, you can also significantly reduce the number of years to pay off your mortgage.

Most Canadians (78% according to a recent survey) are interested in paying their mortgage off as quickly as possible, and using the above strategies will allow you to do just that.

So, if a 40-year amortization is more expensive in the long-term, why choose it at all? Besides lower mortgage payments, there are other reasons why these products may make sense.

For example, you may purchase a ‘fixer upper’ and keep the extra cash flow available for renovation costs. Once the home is renovated, you can make accelerated payments or choose a 25-year amortization when renewing your mortgage term.

Similarly, for young professionals who still have student loans to consider, a 40-year amortization may make initial sense. It will allow them to pay down those loans and later pay their mortgage more aggressively after their income level rises and they’re free of that debt.

Extended amortization products will continue to offer informed consumers the flexibility they need to begin to realize their dream of homeownership. Genworth has launched a new website which provides consumers a wide range of information about the homebuying experience. Visit www.homeownership.ca to learn more.

Peter Vukanovich, CA, is President of Genworth Financial Canada and is Past President (2004-05) of the Canadian Association of Accredited Mortgage Professionals.

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Contact the Jeffrey Team for more information - 416-388-1960

With 8,762 houses sold in the Greater Toronto Area, April’s resale housing activity was down only 7% from the record 9,452 transactions from the same timeframe a year ago, Toronto Real Estate Board President Maureen O’Neill announced today.

“The market is showing signs for a healthy 2008 compared to the diminished activity we saw in the first quarter of the year,” said Ms. O’Neill. “We continue to experience a supply and demand situation and to-date, it remains a sellers market.”

Sales activity however, was markedly different in the 416 and 905 regions. With 3,467 transactions in the City of Toronto, sales were down 10% from a year ago. The 905 region was down 5% from April 2007 sales, with 5,295 homes changing hands.

April’s GTA average price was $398,687, up 8% from the same period a year ago. In the City of Toronto, the average price was $446,781, up 6% from last April. In the 905 region the average price increased 5% compared to a year ago, to $367,196.

Several neighbourhoods experienced strong sales in April.

Scarborough East (E08) saw an 8% overall sales increase compared to April 2007, driven by robust detached home sales.

Caledon (W28) experienced a 15% increase compared to the same timeframe a year ago as a result of strong condominium sales.

Condominium sales also drove Willowdale (C07) to a 32% increase from a year ago.

In Thornhill sales increased 8% from last April due to strong detached home sales.

“The number of listings on the Toronto Real Estate Board’s Multiple Listing Service has increased to 24,539, up 7% from a year ago, which is good for homebuyers, who will find a greater range of options in the market,” said Ms. O’Neill.

“With prices continuing to appreciate and increased listing inventory there are favourable factors in today’s market for consumers.”

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By Diane Tierney - Globe and Mail

The curtain has risen on High Park Lofts and it unveils its cast of character-rich design features. Harry Stinson, co-developer of the project says, “It has an interesting history. Par of the site was occupied by St. Jude’s Church, which was being rented by Mirvish Productions as a rehearsal hall for “The Lion King.” When the owner defaulted on the mortgage, the church was bought by Stinson and his partners.

“The original intention was to renovate the church into a small loft project of about 30 suites. We spent a lot of time planning the conversion job and it was a very complex building. We tried to preserve its architectural elements. However, we ended up with a magnificent product that was a little too magnificent. Preserving the elements was not going to be cheap.”

Fate intervened when the elderly owner of the adjacent property passed away. It has a Kentucky Fried Chicken outlet on it and they were able to buy the site.

“This completed the block and allowed us to have three sides of the corner. It offered a huge strategic design difference to the project. When we reviewed the whole overall site with this addition, we decided to start from scratch and build a new building of 80 suites. But at least with the first exercise, we knew what we wanted to do and the design, price and features that would prove to be most popular,” say Stinson.

The new High Park Lofts building deliberately incorporates design elements such as an enormous interior atrium allowing suites to be flooded with light on both sides. This gives a cathedral-like ambiance to the building. It is 120 feet long and 60 feet high and has gracefully arched beams, and domed skylights of stained glass.

“This atrium will be a dramatic space designed to look like it’s been there for 100 years. It won’t be a hollow core cut through the middle of the building. The atrium runs north-south and at the south end there’s a very tall window. So when you’re outside you’ll be teased by the colour and plants and the life inside,” say Stinson.

It’s a vital building, not just a slab on the corner. High Park Lofts will be recognized by its grand, town hall-style tower, with its backlit, antiques clocks. On the upper levels there are two-storey, stepped-back townhouses with a garden in front,” he says. Massive brick buttresses, huge arched widows and stained glass accents also recall the original church to give the High Park Lofts building cathedral-like character.

Just as much effort and imagination has been applied to the High Park Lofts suites, most of which are unusual because of their split-level, through building layouts, with the living rooms facing the outside and bedrooms that overlook the interior atrium.

Standard finishes include flooring of solid hardwood (oak, maple or bamboo, not engineered veneers) and limestone, marble, slate or ceramic. The High Park Lofts suites have 11-foot ceilings, gas fireplaces, stainless steel appliances, built-in library shelving, built-in Murphy bed for guests, counters of granite, marble or man-made solid surfaces, a parking space and locker.

Condo fees will be about $350 per month, which include the heating and air-conditioning costs. The High Park Lofts has a geothermal system that utilizes natural subterranean heat, rooftop solar panels, and numerous energy conservation mechanisms to make the entire building virtually self-sufficient.

“This is rather timely considering all the energy deregulation. I think we’re going to get a big shock in a couple of years and if a building is able to stabilize its energy costs then that’s going to be a big deal,” he says.

At High Park Lofts‘ doorstep is Roncesvalles Village, a long-established residential neighbourhood with corner grocery markets, local shops, bakeries, coffee shops, banks, cinema and hardware stores. “Some people might confuse the area as being like Parkdale because they are not too sure about the west-end communities, but Roncesvalles Village is sort of like the Beaches before it got trendy,” say Stinson.

High Park is down the street. Dundas West subway stop is two blacks north. Parkside Drive provides quick access to the Gardiner Expressway and a streetcar runs pasts the High Park Lofts front door directly to King and Bay.

“There aren’t many loft-type buildings in Toronto that are in areas that are civilized. That’s what’s proved to give this project a lot of appeal. The area is far more urban, not the stuffy neighbourhood we thought it might be. We feel part of an awakening of sorts for this area,” say Stinson.

Stinson admits to being obsessive about design and wanted a building that really stood out. “Builders can go the cost-route and squeeze every nickel out of a project so they can offer something for $149,900 and that’s certainly a fool-proof method. Or, builders can try to make the design outstanding even though it will be more expensive.”

This is a turnkey, deluxe product. “You don’t go into Mercedes dealership and get charged for the radio. This is the same approach. It’s a little more expensive per square food, on a perception basis, but that’s because everything is included. People might pay $250 per square foot elsewhere but then they have to buy a parking space and install better flooring, or upgrade features. We just set the high standard up front because we want to known as such.”

Architecturally, the High Park Lofts building is going to stand out. “It’s something people will refer to with pride,” says Stinson.

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Contact the Jeffrey Team for more information - 416-388-1960

2007 was a very strong year for Toronto real estate. The number of downtown condo sales was up about 25% from last year, and the same is true of detached homes in areas such as Scarborough. Prices overall are forecast to increase by about 5-7% in 2008, with the relatively cheaper condo market potentially appreciating even more.

Bidding wars continue to be the norm in some hot Toronto neighbourhoods - and demand for the most part exceeds supply. Employment continues to be at a record high, and interest rates, while higher than a few years ago, remain at historic lows with increasing signals that reductions are in store for 2008.

For the first half of the year we are likely to see the following:

* the Toronto real estate market continues at a respectable clip, as continued low interest rates and near full time employment support consumer confidence
* a reduction in down payment and equity as both first time and repeat home buyers make purchases with less money (paying the new Toronto land transfer tax with money that they previously could have used for a down payment)
* higher demand for turn-key homes as opposed to fixer-uppers, as buyers realize that any renovation money they might have had must now be applied to the new Toronto land transfer tax
* investors and repeat buyers waiting longer before making that second home purchase or investment purchase (to save up enough) - and perhaps more selectivity from investors, since rate of return will not be as favourable once the tax is incorporated
* incentives from major lending institutions to help home buyers - such as banks offering to help pay the new land transfer tax up, or more cash-back mortgages
* more activity in the 905 region near the border with Toronto, as buyers avoid the new Toronto land transfer tax by buying outside the city

In the second half of 2008, it is hard to say, but we may see:

* more development in the 905 region on the city border as developers capitalize on demand by buyers just on the outskirts of Toronto (such as Thornhill, Markham, Mississauga and Pickering)
* smaller and more affordable housing development within the city core to keep the purchase price at a level that attracts first time buyers
* more redevelopment in parts of west and east Toronto that have up to now been neglected by developers, as their relative affordability encourages development

The Bottom Line on the New Toronto Land Transfer Tax

In 2007, the Toronto real estate market was very solid and in some cases was beginning to exhibit some signs of speculative frenzy. We continue to see more demand than supply for decent real estate in the City of Toronto.

The new Toronto land transfer tax can, in some ways, be a good thing. It might cause speculators to be more prudent when making an investment decision. It may also make first time home buyers more cautious about buying beyond their means or jumping in without sufficient equity. While the implementation of this new tax is abhorrent to some, is it possible that it may in fact sustain our real estate boom, by preventing a bubble from forming and/or getting out of control?

In an open letter to Mayor David Miller, the Toronto Real Estate Board raised concerns about a possible home-buying tax in Toronto. They say a Toronto land transfer tax, on top of the existing provincial land transfer tax, would cause homebuyers to pay the same tax twice and encourage homebuying outside city limits.

“A land transfer tax is a home-buying tax. It is a tax charged directly to homebuyers when they purchase a property, which is usually intended to offset costs for providing services directly related to real estate transactions. If the City intends to charge a land transfer tax just to raise additional revenue for general municipal services, is it fair to expect homebuyers to pay for services that the whole community benefits from?,” said Dorothy Mason, President of the Toronto Real Estate Board.

“If the City adopts a land transfer tax, Toronto homebuyers will be faced with a double whammy of land transfer taxes - a municipal land transfer tax and a provincial land transfer tax,” added Mason.

The provincial government already charges a land transfer tax on property transactions. For the average Toronto home, according to the Toronto Real Estate Board’s statistics, the provincial land transfer tax payable is approximately $4,200.

“If the City moves ahead with a second land transfer tax, average Toronto homebuyers could be faced with paying almost $1,900 on top of the $4,200 that they already have to pay for the existing provincial land transfer tax, money that could be spent on other expenses when purchasing a home such as appliances.”

“Mayor Miller and all of City Council should realize that forcing homebuyers to pay a second land transfer tax will have implications for the City. It will make Toronto housing less affordable, and encourage homebuyers to choose to live outside of the City, where they only have to pay the land transfer tax once. This could mean more commuting, more traffic, and environmental impacts, like smog, for the GTA”, said Mason.

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Contact the Jeffrey Team for more information - 416-388-1960

In the first two months of 2008, the Toronto condo market has seen nine new high-rise condominium openings, compared with five during the same period last year, according to Urbanation.

“In fact,” says Urbanation’s Editor and Executive Vice-President, Jane Renwick, “we are forecasting 19,000 sales in the Toronto new condo market and 17,000 sales in the resale condo market for 2008.”

Other results and projections include:

* 2007 was a record breaking year for the Toronto condo market.
* Annual unit sales increased by 40% (22,654 new unit sales in 2007 vs. 16,114 in 2006 and 16,224 in 2005).
* 104 new condo projects opened in 2007 vs. 84 in 2005, the previous record.
* 2007 Toronto condo prices rose 11.3% in the new sale market and 15.1% in the resale market over 2006 prices.
* The double digit price increase in the new sale market was partly driven by growth in Toronto’s luxury and “super luxury” condo segment, defined as projects that trade over $600 per square foot, which represented 3,784 new units in 2007 and averaged $844 per square foot.
* “Non luxury” unites in the new sale market, by contrast, averaged $360 per square foot, once the luxury units where factored out.
* Price increases in the resale market were even more sustantial, rising 15.1%, from $278 in 2006 to $320 per square foot in 2007.

Balancing the 2007 price increases, mortgages remained affordable, as interest rates stayed at historically low levels. Amortization periods also extended to 40 years, creating lower monthly payments and allowing for the purchase of a more expensive unit at the same monthly carrying cost of a 25-year mortgage.

The definition of a conventional mortgage changed in 2007 from 25% to 20% down, reducing mortage insurance requirements at the same time. Unlike the U.S. subprime market, however, Canadian lenders did not relax their credit evaluation standards, and the Canadian mortgage default rate remained at a very low 0.25%.

Renwick adds, “The Toronto condo market remains buoyant because of low unemployment, low interest rates, high population growth and positive demographic changes that favour condo living.”

Can Toronto continue to absorb high levels of new supply, especially in light of the considerable number of units that will be added to the resale universe in 2008? Urbanation expects the general sales momentum of recent years to hold through 2008, although the sales performance of 2007 will be difficult to duplicate.

About Urbanation
Urbanation is one of Canada’s leading condominium market research firms. SInce 1981, the firm has been analyzing the Toronto condominium market, publishing the “industry bible” - Urbanation’s Condominium Market Survey. This quarterly report tracks new, resale and future condominium projects. Urbanation also provides the development community with essential consulting services, which include site specific market studies, surveys and focus groups.

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Contact the Jeffrey Team for more information - 416-388-1960

The Kensington Market today is a diverse and vibrant neighbourhood with an interesting historic past. The development of the market and the Kensington Market area has been strongly influenced by the different waves of immigrants who have come to live and work in the area over the years.

Kensington Market was part of a 156 acre lot bought by Colonel George Taylor Denison in 1815. The Denison family built a house which they named ‘Belle Vue’ in 1815 to north of Denison Square. The Denisons were responsible for building of the St. Stephen’s Church in 1858 because they wanted to have a place to worship. Denison Avenue which runs along the western edge of the market was once the driveway from their family house leading to Queen Street.

The land which made up the Kensington Market area was a wooded area. The St. Stephen’s Church used to be known as St. Stephen’s in the Fields before Kensington Market was developed. At one time, Russell Creek ran across what is now Bellevue Avenue. However, like many creeks in Toronto, it was covered over and became part of the sewer system.

Beginning in 1854, the Denison estate was subdivided into lots which were purchased by English, Irish, and Scottish immigrants. These immigrants were labourers and skilled tradesmen. Many of the street names reflect this early influence (Oxford Street, College Street, Kensington Avenue). In the early 1900s, Jews from Central and Southern Europe began to move into Kensington Market.

The Kensington Market began to exist as a market in the early 1900s. It began with merchants pushing hand carts through the streets to sell their goods. Soon, merchants moved their hand carts in front of their homes on Kensington Avenue. By the 1930s, many of the first floors of houses in the market had been extended to create storefronts.

The Kensington Market continued to evolve and change with each new wave of immigrants. In the 1950s, many Portuguese immigrants settled in the Kensington Market followed by immigrants from the Caribbean in the late 1960s and more recently Latin Americans, Vietnamese, and Chinese immigrants. Some feel that the Kensington Market Lofts development represents the next wave of immigration in the market.

As with most buildings in the Kensington Market area, the buildings that make up the loft development have been used for a wide variety of purposes and have grown and changed since they were first built.

Originally, the lots which now make up 21 Nassau Street and 160 Baldwin Street contained mainly residential housing. However, in 1880, a carriage painter was located at 21 Nassau Street and in the 1940s an automobile service centre operated on the south east corner of 160 Baldwin Street.

In 1836, the entire south side of Nassau Street which was then called Cambridge Street was made up of individual houses. In 1922, the homes in the lots from 1 to 21 were torn down. After the property was vacant for a few months, the Toronto Board of Education bought the lots. It was at this time that the property became known as 21 Nassau.

The Toronto Board of Education had bought the property in 1923-1924 to build a public school. Construction began on the building in 1924. The building was named the William Houston Public School after William Houston who was a member of the Board of Education, a political writer for The Globe and Mail, and a witness to the fatal shooting of George Brown.

The school was opened on September 2, 1925. The school had about 12 classrooms and held about 650 children. Even back then declining enrolment was a problem and the school closed less than 10 years after it opened.

After being unoccupied for two years, Harbord Collegiate used the building as an annex from 1935-1936 and then in 1936, the Family Welfare Department took over the building for a period of six years. In the 1940s, the Canadian government began to use the school for military purposes as a signals’ school and for troop accommodation and during the Second World War, the air force held training for new recruits in the building from 1942 to 1946.

After the war, the Ontario College of Art took over the building for a period of five years from 1946 to 1950.

In 1948, the Ryerson Institute of Technology which was then known as the Toronto Rehabilitation Training Institute was looking for more space for its construction trades training program and for its automotive mechanics training program. The property was purchased by the federal government and leased to the provincial government in 1952 for the use of the Provincial Institute of Trades.

During 1953 and 1954 the second and third buildings were constructed. Construction work was done partly by the students and teachers of the school.

George Brown College grew out of the Provincial Institute of Trades and the Provincial Institute of Trades and Occupations. George Brown College was established by the provincial government on November 22, 1967 to serve the City of Toronto as part of the new province-wide system of Colleges of Applied Arts and Technology.

William Davis, the Conservative Minister of Education at the time, recommended that the college be named after George Brown. George Brown (1818-1880) was a 19th century Liberal party leader, father of Confederation and founder of The Globe newspaper which was the forerunner of The Globe and Mail. George Brown died in 1880 after having been shot in the leg by a disgruntle employee. His wound had not appeared serious but he died about six weeks after being shot.

In 1968, George Brown College made the Kensington Market buildings one of their five campuses in Toronto. In 1970 the title for the property officially transferred from the provincial government to George Brown College. While the Kensington Market campus was in operation, more than 1,000 full-time and 600 part-time students used the buildings.

Due to the growing enrolment at the College during the 1960s and 1970s, many of the programs offered by the College were operated out of the building. Child care, English as a Second Language, Fashion, Hospitality, Automotive Repair were all offered in the Kensington Market buildings. At one time, a Retail Meat Cutting course was run out of the basement of the 160 Baldwin Street building which sold meat to many of the institutions in the central Toronto area. The buildings also housed a full restaurant and a child care centre as well.

Most of the College programs had moved out of the Kensington Market campus by the end of 1994. The College performed a variety of work to prepare the buildings for sale and in 1998-2000 the buildings and property were developed by Context Development as the Kensington Market Lofts development.

The Kensington Market Lofts is a condominium development that is located in the heart of Toronto. It is situated in the centre of the ‘Market’ and close to other vibrant neighbourhoods such as Chinatown, Little Italy, The Annex and Queen Street West.

Today, the Nassau Building is a 61-unit, 4-story building with terraced street level units and 1-2 bedroom lofts. The Baldwin Building is a 6-story building with 79 condo apartments with the top level set back to create terraced penthouses.

The Kensington Market Lofts feature a rooftop garden to help reduces heating and air conditioning costs as well as reduce rainwater runoff. The buildings are heated and cooled by an efficient central system which reduced energy consumption overall. Water is also heated in a central source to reduce energy costs.

The interiors of the original Kensington Market Lofts suites contain many recycled and environment-friendly elements such as recycled concrete and glass counter tops, bamboo and cork floors.

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Contact the Jeffrey Team for more information - 416-388-1960