Toronto Condo and Real Estate Blog

Rosedale Homes

Drive east along Bloor Street from downtown, make a quick left onto Sherbourne, and watch the city streets and tall buildings instantly disappear. You are now in Rosedale, Toronto’s most majestic neighbourhood. Tucked away and surrounded by two tranquil ravines, Rosedale’s meandering tree-lined streets will mesmerize you and make you quickly forget that the city centre is just moments away.

Homes in Rosedale are grand, noble dames, full of distinguished character. Though they may not be as large as estates found in more suburban Toronto area locales, Rosedale homes prevail in their exquisite details and traditional beauty.

Dating from as far back as the mid 1800’s, Rosedale residences are mostly two and three storey detached designs, some of which feature carriage houses that are the size of a more typical single family Toronto home. An array of architectural styles can be found, including Victorian, Edwardian, Georgian, and Tudor.

The occasional newly built contemporary house Rosedale Homesmight catch your eye, but these tend to be constructed with carefully selected materials to blend in with the surroundings. Luxurious Rosedale condos and moderately priced co-ops complete the Rosedale real estate spectrum.

For the high net worth individual who keeps an office in downtown Toronto, Rosedale is a perfect residential address. The financial district is accessed within minutes either by automobile or via the Yonge and Bloor subway lines, which have multiple stations merely steps away.

Shopping is plentiful in the fine establishments at Summerhill, at Yonge and Bloor, and in the decadent boutiques of nearby Yorkville. Delectable eateries also await along Yonge Street and in Yorkville. Rosedale is also home to Whitney Public School, a junior school with an excellent reputation for academics, arts, athletics, and community involvement.

Rosedale Real Estate Boundaries

Rosedale stretches from approximately Bayview Avenue, west to Yonge Street. The railway tracks that run near Summerhill Avenue serve as the northern limit, whereas Rosedale Valley Road is the southern boundary. North Rosedale is separated from South Rosedale by the Park Drive Ravine. Homes in Rosedale can be found in Toronto Real Estate District C09.

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By Carson Dunlop

Have you ever wondered why your neighbours never surface from their home, rarely have any garbage to pick up, always have the blinds down or windows covered, come and go at unusual hours and never invite you over for a barbecue? If this is the case, there is a possibility you are living beside a grow house. With an estimated 50,000 grow houses in Canada, there is growing concern about health, fire, safety, and structural implications for home buyers. But what risk is there in owning a grow home?

What is a grow house?

A grow house is a home that has been converted into a marijuana operation. Larger homes in quiet areas with unfinished basements are preferred, although grow houses can exist in any neighbourhood.

What are the signs and the risks?

There must be ideal greenhouse conditions for these operations. The electrical system is usually altered to power the hydroponic equipment. Operators may also steal electricity by tapping into the electrical service before it enters the electrical meter, and bring power into the house through a hole in the foundation. Additional circuitry is usually added inside the home to bring electrical power to the equipment, and operators rarely make sure that these alterations meet electrical codes. While these modifications can create a hazardous electrical situation, improvements can be made to ensure the electrical system remains safe for a potential homebuyer. Holes cut in the foundation wall can be repaired as well, but if not done properly, the potential for water leakage remains.

Plants require light, ideal temperature, water and nutrients in order to thrive, and with the heat generated by hydroponic lighting, a significant amount of humidity is produced in the process. While humans, animals, and plants need humidity, too much can cause mould, mildew, and rot to form in the home, especially in or on exterior surfaces. Often, modifications are made to the home to help vent the excess humidity to the outdoors and bring in fresh air from the outside. Fireplaces and chimneys can be used as channels for removing excess moisture. Structural members such as floor and ceiling joists are sometimes cut to accommodate additional ductwork. The structural integrity of the home may be compromised by the combination of cut framing members and high humidity. Signs of high humidity are usually most visible in attic spaces, where the moist air is often dumped. Darkening of attic surfaces is generally a good indicator that mould and mildew are present.

Mould comes in many colours and may be visible and distinct. It can also be very subtle. Surface mould may be the tip of an iceberg, with considerable mould concealed behind the wall. In other cases, the mould is only on the surface. The toughest situation occurs when the mould is not visible. Home inspectors pay particular attention to intersecting walls and ceilings where air circulation is poor or areas that have been chronically damp or wet. The good news is that many grow houses are in operation for less than a year, which may not be enough time for mould to thrive and cause serious structural damage.

Other clues

Look for painted concrete floors in the basement, and walls that have been painted white to reflect light. Screw holes and patches are often visible in the foundation wall where equipment was mounted above the floor level to avoid any water on the floor. Multiple splices in the plumbing system may be present to nourish the crop. Chemical odours, including fertilizers and pesticides are also used, which can create health hazards through poor indoor air quality.

Conclusion

While it is expected that realtors who are representing sellers or landlords of these properties should make every effort to ensure that all parties are notified of the potential issues, a home inspection can help quantify the severity of these issues. In most cases, with proper clean-up and some repair, these homes can be lived in without concern. Unfortunately, insurance companies are also being very cautious and focusing on reducing loss ratios, not on acquiring business, making it more difficult to get insurance on high risk homes such as grow homes. By exercising good judgment and due diligence in obtaining proper information on the condition of the home, purchasers can rest easy knowing that with a little tender loving care, the home will provide the comfort and security they deserve.
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TORONTO, ON (March 23, 2007) – Toronto’s Talon International Development Inc. announced today that an agreement has been reached with international bank Raiffeisen Zentralbank Österreich AG (RZB) to arrange $310-million in construction financing for the developer’s five-star Trump International Hotel & Tower, Toronto. Construction of Canada’s first Trump Tower is scheduled to begin later this year.

“This is a very exciting time for the entire Trump Toronto team,” said Talon Chairman Alex Shnaider. “Today’s announcement represents the fulfillment of our vision to build the finest hotel and residential condos in the marketplace.”

“My partners and I are very pleased to have our financing arrangements completed and we look forward to developing one of the most luxurious Trump buildings we have ever built,” stated Donald J. Trump. “I look forward to starting construction on this great project very soon.”

Mr. Shnaider believes the universal appeal of the Trump brand and the Trump Toronto team’s global business experience has contributed greatly to the success of the project—including the ability to attract a leading multi-national commercial financing partner.

“With over $250-million in pre-construction sales from buyers world-wide, Trump Toronto is truly an international success story,” said Mr. Shnaider. “I am very pleased that we were able to leverage our international business interests to secure construction financing with an exceptional European financial institution like RZB.”

Raiffeisen Zentralbank Österreich AG (RZB) is the third largest bank in Austria and one of the country’s leading commercial and investment banks. RZB’s strong involvement in Central and Eastern Europe (CEE), its exceptional growth and outstanding appeal to customers have made it one of the top players in the region.

“We are delighted to be involved in the financing of this historic and dynamic project and are extremely pleased to continue our long-standing relationship with both Mr. Shnaider and Midland Group,” said Karl Sevelda, Member of the RZB board.

Located in the heart of Toronto’s financial and entertainment districts, the $500-million Trump International Hotel & Tower, Toronto will be one of the tallest and most luxurious buildings in Canada when completed. Remaining hotel condominium suites are currently priced from CAD $800,000 and residential suites start at CAD $1.8 million.

Trump International Hotel & Tower, Toronto, is a joint venture between Donald J. Trump and Talon International Development Inc. Located at the southeast corner of Bay and Adelaide, the Tower represents the epitome of high-end luxury living and features the only five-star hotel condominiums available for purchase in Toronto. The building was designed by the Toronto-based firm Zeidler Partnership Architects.

Talon International Development Inc. is comprised of Canadian and international partners who possess an enviable track record of achievement in creating, developing and building businesses throughout the world. Talon’s majority shareholder is Midland Resources Holding Limited. Founded in 1994, Midland is a privately owned trading and investment-holding organization.

The Group has interests in a broad range of industries, including real estate, steel production and trading and shipping. Midland’s operations are global with offices and agents in 35 countries worldwide.

The Trump Organization specializes in five-star real estate development and will operate and manage the hotel. The project will be the Trump Organization’s fourth Trump International Hotel & Tower and the first outside the United States.

The opportunity will soon be gone. Don’t miss this final pre-construction opportunity to maximize your investment potential. This is a once-in-a-lifetime opportunity to become one of the privileged few to own at the only Trump property in Canada.

The Residences are currently priced from $1.8-million. Hotel condominiums from the $800,000’s (CAD).

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Contact the Jeffrey Team for more information