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Small scale, big appeal

With a chang­ing mar­ket, there’s demand for well-designed midrise and lowrise projects in beloved neighbourhoods

Globe and Mail

Some inter­est­ing trends are emerg­ing as the Greater Toronto Area real estate mar­ket tran­si­tions from years of red-hot sales fuelled largely by the high­rise condo boom.

Paul John­ston of Right at Home Realty Inc., who spe­cial­izes in unique urban homes, says the mar­ket “is com­ing back to earth” and rather by being dom­i­nated by investors, it is being dri­ven by “real peo­ple who buy real homes.”

This could spawn the devel­op­ment of more midrise and lowrise projects in the city, which will always res­onate with buy­ers, he believes. “There is a move towards much smaller-scaled projects and by that, I don’t mean 205-square-foot suites in a high­rise. I’m talk­ing about five, six or seven storey midrise build­ings and three-storey town­houses, which are much more humanly scaled. Demand is strong, strong, strong and it remains a very good mar­ket but gets mud­dled in with the high­rise market.”

He says while the real estate mar­ket has been guided by con­sumer con­fi­dence “and that con­fi­dence has been mis­tak­enly eroded by the cor­rec­tion in the high­rise mar­ket,” it hasn’t had a salient effect on sin­gle fam­ily hous­ing or the mar­ket for midrise build­ings designed specif­i­cally for non-investors.

Mr. John­ston pre­dicts a greater num­ber of these smaller projects will be com­ing to some of the city’s best loved neighbourhoods.

Lit­tle Italy, Trin­ity Bell­woods and Oss­ing­ton are already estab­lished neigh­bour­hoods and a grow­ing num­ber of devel­op­ers are try­ing to gauge how to recal­i­brate their busi­ness to attract buy­ers who want more mod­estly scaled build­ings,” says Mr. John­ston. “A grow­ing num­ber of peo­ple in the city want to live in iconic build­ings and we can cre­ate small icons. There is an oppor­tu­nity to insert more mod­estly scaled build­ings that are pre­cious gems, into the neigh­bour­hoods we really love.”

While some buy­ers do appre­ci­ate the con­ve­niences of the condo lifestyle, they don’t nec­es­sar­ily want to live in a tower, he says.

No one wants to be on third floor of a 90 storey build­ing, but they do want to be on the third floor of a six-storey build­ing,” he says, adding that Toronto is finally respond­ing to that seg­ment of the mar­ket that wants to live in well-designed, smaller scaled devel­op­ments in neigh­bour­hoods out­side the city core, which is dom­i­nated by highrises.

Com­ment: Bravo! This is where I want to get into the devel­op­ment game. Micro con­dos, mark my words…

He says many peo­ple want to live in build­ings with 40 or 80 res­i­dents, where the set­ting is more inti­mate and they can get to know their neigh­bours. He says these small build­ings don’t have elab­o­rate ameni­ties such as gyms and pools like large high­rise projects do, but that’s fine with buyers.

When you put in a small-scale build­ing, you are in an already vibrant neigh­bour­hood, so why put in all that stuff?” asks Mr. John­ston, point­ing out that another advan­tage is that condo fees are much less expen­sive in small build­ings with­out a large ros­ter of amenities.

He cites the Oss­ing­ton neigh­bour­hood as an up-and-coming area for mod­estly scaled condo or loft projects. One exam­ple is 109 Oz, a six-storey condo in the heart of Oss­ing­ton Vil­lage set in an area of estab­lished restau­rants, shops and hard­ware stores.

Around the cor­ner you have Aba­cus, which is even more mod­est with 40 lofts, but the build­ing is archi­tec­turally very dis­tinc­tive,” Mr. John­ston says. “This is a place where you can find some­thing to do at 2 in the after­noon or at midnight.”

He says prices for sin­gle homes are ris­ing in the Oss­ing­ton neigh­bour­hood, cit­ing a recent $1.25 mil­lion sale, “and if you want to live in that neigh­bour­hood, sin­gle fam­ily houses may be out of reach finan­cially, but maybe a mod­estly scaled condo or loft build­ing will fit the bill.”

Despite the gen­eral lack­lus­tre per­for­mance of the mar­ket, Mr. John­ston knows one thing to be true.

There is a huge appetite for great prop­er­ties in great neigh­bour­hoods,” he says.

—————————————————————————————————–
Con­tact the Jef­frey Team for more infor­ma­tion – 416−388−1960

Lau­rin & Natalie Jef­frey are Toronto Real­tors with Cen­tury 21 Regal Realty.
They did not write these arti­cles, they just repro­duce them here for peo­ple
who are inter­ested in Toronto real estate. They do not work for any builders.

—————————————————————————————————–

Contemporary condo pays tribute to the past

383 Sorau­ren offers mod­ern inter­pre­ta­tion of indus­trial chic

Ryan Starr – Toronto Star

For Bill Gaird­ner, the launch of 383 Sorau­ren rep­re­sents a maiden voy­age of sorts, the first condo he’s devel­oped since strik­ing out on his own just over a year ago.

383 Sorau­ren, a 10-storey mid-block masonry build­ing designed by Peter Clewes of archi­tect­sAl­liance, is meant to be a mod­ern inter­pre­ta­tion of the old ware­houses that dot Ron­ces­valles Vil­lage. (Next door to 383 Sorau­ren is Robert Wat­son Lofts, a turn-of-the-19th-century fac­tory that was con­verted into con­dos sev­eral years back, with much of the orig­i­nal gritty char­ac­ter kept intact.)

383 Sorau­ren will have 144 units that range from 470-square-foot stu­dios to 1,500-square-foot three-bedroom-plus-den pent­houses. There also will be four, two-storey, two-bedroom town­houses located along Sorau­ren Ave.

Prices range from $250,000 to $899,000. Occu­pancy is sched­uled for 2016.

The project, which went on sale this week, had over 700 reg­is­tra­tions as of late March. Gaird­ner — who left Freed Devel­op­ments at the end of 2011 to launch his own firm — sees that as a sig­nif­i­cant vote of con­fi­dence for his inau­gural condo effort. (His part­ner on the project is Mar­tin Niro of Cen­tre­stone Urban Developments.)

It’s the first bou­tique launch of the sea­son, so a lot of peo­ple are keep­ing an eye on it,” Gaird­ner says as he strolls through the half-finished 383 Sorau­ren pre­sen­ta­tion cen­tre a few weeks before the project’s offi­cial opening.

It’s a totally dif­fer­ent mar­ket (com­pared with pre­vi­ous springs),” he acknowl­edges. “But if any­thing the mar­ket has been speak­ing loud and clear that this is the kind of prod­uct it’s still inter­ested in.”

We designed this build­ing to attract end users. It might have a slower absorp­tion sched­ule, but I’m fine with that.”

True Neigh­bour­hood

Res­i­dents at 383 Sorau­ren will have plenty of tran­sit options, includ­ing the Dun­das and Col­lege Street street­cars, and a GO train con­nec­tion at Bloor and Dun­das. (Unfor­tu­nately the condo has a rail­way cor­ri­dor run­ning behind it, but so do Rosedale man­sions, Gaird­ner points out.)

The build­ing is a five-minute stroll from a revi­tal­ized Ron­ces­valles Avenue, which offers a parade of hip restau­rants, bars, cof­fee shops and gal­leries. “I feel like it’s the first neigh­bour­hood when you head west from down­town that feels like a neigh­bour­hood but still has the urban flair and feel for peo­ple who don’t nec­es­sar­ily want the Kingsway or High Park,” Gaird­ner says.

383 Sorauren’s suites, designed by John­son Chou, will have ter­races or bal­conies and nine-foot ceil­ings, with 10-foot ceil­ings in the two-storey pent­house suites.

The build­ing will have a fit­ness cen­tre and a ter­race with an out­door lounge, bar­be­cues and a din­ing area that backs onto Sorau­ren Park, located just south of the prop­erty (where there’s a farm­ers’ mar­ket every Mon­day evening.)

The project’s masonry ware­house look is a trib­ute to the area’s indus­trial past. “We didn’t want to put up some fancy glass box in the mid­dle of this neigh­bour­hood,” Gaird­ner says. “That would be really out of context.”

At the same time, he stresses, 383 Sorau­ren isn’t going to mimic the older archi­tec­ture either. “We want to tip our hat to that kind of struc­ture because it’s beau­ti­ful,” he says, refer­ring to the Robert Wat­son project next door. “But we still want to do a build­ing that’s mod­ern and cool that speaks to our gen­er­a­tion and time.”

Find­ing Freed

Gaird­ner got his break in the devel­op­ment busi­ness from Peter Freed, King West’s condo king.

Fresh out of uni­ver­sity and look­ing for a job in the indus­try, Gaird­ner intro­duced him­self to Freed back in 2004, in the ele­va­tor of the condo where they both lived (Freed’s 66 Port­land). “I said, ‘I bought into your condo, I’ve always wanted to get involved in the busi­ness, and I’d really appre­ci­ate the chance to chat with you,’ ” Gaird­ner recalls.

Freed gave him his email address, and Gaird­ner, now 30, says he “chased him down for about six months before he finally agreed to give me a job.”

Gaird­ner started off doing any­thing that fell off Freed’s desk, and before long had got­ten a crash course in all aspects of the condo biz. “It was such a small orga­ni­za­tion that I was doing things well beyond my years,” says Gaird­ner, who even­tu­ally became Freed’s vice pres­i­dent of devel­op­ment. “I got the best edu­ca­tion going because it was hands-on and Peter was doing a lot of really excit­ing things.”

In 2011, Gaird­ner decided to go solo. His mis­sion: to develop his own brand of “cool build­ings where real human beings want to live.”

I had this entre­pre­neur­ial hunger. I wanted to see if I could actu­ally do it (on my own),” he says. “I think I always knew I could, it just seemed risky.”

To mit­i­gate risk on his first foray, 383 Sorau­ren, Gaird­ner has sur­rounded him­self with an A-team of Toronto condo con­sul­tants, includ­ing archi­tect Peter Clewes and designer John­son Chou. “I’ve got great part­ners, a great team and I’ve also done this a bunch of times,” Gaird­ner notes. “So for me it doesn’t seem like an insur­mount­able task.

It’s just a refresh­ing expe­ri­ence being able to do it on your own ver­sus doing it for some­one else.”

The Details

Loca­tion: 383 Sorau­ren Ave.
Devel­oper: Gaird­loch Devel­op­ments & Cen­tre­stone Urban Devel­op­ments
Archi­tect: Peter Clewes, archi­tect­sAl­liance
Inte­rior design: John­son Chou
Size: 10 storeys
Suites: 144
Prices: $250,000 to $899,000

—————————————————————————————————–
Con­tact the Jef­frey Team for more infor­ma­tion – 416−388−1960

Lau­rin & Natalie Jef­frey are Toronto Real­tors with Cen­tury 21 Regal Realty.
They did not write these arti­cles, they just repro­duce them here for peo­ple
who are inter­ested in Toronto real estate. They do not work for any builders.

—————————————————————————————————–


Incom­ing search terms
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  • Five industrial lofts for less than $1 million

    Toronto Life

    The num­ber of so-called “hard lofts” in Toronto has bal­looned since the early 2000s as devel­op­ers wised up to the mon­ey­mak­ing poten­tial of turn­ing old fac­to­ries and ware­houses into res­i­den­tial units. True loft con­ver­sions have an artsy vibe that’s nearly impos­si­ble to imi­tate, and some buy­ers feel they’re a smarter invest­ment than new builds because sup­ply is, in the­ory, lim­ited by the num­ber of avail­able build­ings to con­vert. Even would-be loft own­ers with sub-$1 mil­lion bud­gets can find a range of options: some units main­tain the orig­i­nal raw, indus­trial feel, while the rough edges on oth­ers have been smoothed away (some re-purposed build­ings are even packed with lux­ury ameni­ties). Below, five recently-listed hard lofts from across the city.

    Com­ment: I still get peo­ple ask­ing me for “raw” space that they can con­vert. Some­thing 2,000 square feet or so, for like $200,000. I wish… truly I wish I could find some­thing like that.

    The Mer­chan­dise Lofts

    Address: 155 Dal­housie Street, Unit 1015
    Listed price: $449,900
    Sold for: $441,000 after 18 days on the mar­ket
    Build­ing fees and ameni­ties: $466.40. Concierge; rooftop gar­den with dog walk­ing area; lap pool; bar­be­cue ter­race; half-basketball court; yoga stu­dio; Metro gro­cery store at street level
    The take: This one-bedroom unit in the for­mer Sears ware­house near Ryer­son is a roomy 889 square feet, and has a sunken liv­ing area, a raised mas­ter bed­room with a slid­ing barn door, and a wall of factory-style win­dows. Despite those fea­tures, how­ever, a sense of the building’s early 20th-century Chicago School archi­tec­ture feels sadly absent.

    Com­ment: Such a great loca­tion, but such a huge buil­ing turns a lot of peo­ple off. Some con­crete columns, but oth­er­wise you would be hard pressed to notice you were in an old build­ing. Great ameni­ties, best roof top patio in Toronto.

    The Merchandise Lofts - 155 Dalhousie

    The Mer­chan­dise Lofts – 155 Dalhousie

    The Boiler Fac­tory Lofts

    Address: 189 Queen Street East, Unit 5
    Listed price: $469,900
    Sold for: $470,000 after 170 days on the mar­ket
    Build­ing fees and ameni­ties: $330.19. None
    The take: The Boiler Fac­tory is an inti­mate, 11-unit build­ing in the heart of Moss Park, an area under­go­ing change with new devel­op­ments but cur­rently still known for its hous­ing projects and home­less shel­ters. The 900-square-foot unit has one bed­room (plus office), exposed brick walls and a stain­less steel-accented kitchen that com­pli­ments the indus­trial exte­rior. Best of all: a pri­vate rooftop ter­race with views of the city.

    Com­ment: Amaz­ing, the last 2 units to sell recently went in 15 and 27 days. Some agents are eas­ier to work with, I guess…

    The Boiler Factory Lofts - 189 Queen Street East

    The Boiler Fac­tory Lofts – 189 Queen Street East

    The Brock Lofts

    Address: 27 Brock Avenue, Unit 212
    Listed price: $499,000
    Sold for: $580,000 after three days on the mar­ket
    Build­ing fees and ameni­ties: $698.46. None
    The take: Spend $110,000 more and you’ll get a two-bedroom loft span­ning 1173 square feet and two lev­els. A pair of open-tread metal stair­cases lead to the mas­ter bed­room and a pri­vate rooftop ter­race (which has an excel­lent view of the line-up at Elec­tric Mud BBQ). Main­te­nance fees are a tad steep con­sid­er­ing the build­ing lacks costly ameni­ties like a concierge or fit­ness centre.

    Com­ment: I am going to have one com­ing up soon, next door to this one. Some­time in early July likely, I will be list­ing unit 210. Let me know if you want to be noti­fied when it comes up. One of the very few lofts in Park­dale – you would expect more. But this is one of 3, and they all sell fast fast fast.

    The Brock Lofts - 27-31 Brock Avenue

    The Brock Lofts – 27–31 Brock Avenue

    The Broad­view Lofts

    Address: 68 Broad­view Avenue, Unit 428
    Listed price: $589,900
    Sold for: $601,000 after four days on the mar­ket
    Build­ing fees and ameni­ties: $494.49. Concierge; party room; rooftop patio
    The take: With 152 units, the for­mer Rex­all Phar­macy ware­house just east of the Don Val­ley Park­way feels a lit­tle less exclu­sive than some of the other con­ver­sions. The split-level suite, how­ever, is spec­tac­u­lar, with a huge open-concept kitchen and liv­ing area, and a mas­ter suite with a full wall of built-in closets.

    Com­ment: I love it. This should be the set for any movie or TV show shot in a loft. All the clas­sic brick and wood, just awe­some. Ceil­ings are a lit­tle low, though. But it used to be a drug ware­house, you just don’t need that much room for all those lit­tle bot­tles, I guess.

    The Broadview Lofts - 68 Broadview Avenue

    The Broad­view Lofts – 68 Broad­view Avenue

    The Robert Wat­son Lofts

    Address: 363 Sorau­ren Avenue, Unit 116
    List Price: $775,000
    Sold for: Still on the mar­ket
    Build­ing fees and ameni­ties: $843.72. Court­yard; rooftop gar­den
    The take: This six-storey for­mer candy fac­tory in Ron­ces­valles is gen­er­ally con­sid­ered one of the city’s best con­ver­sions. A two-bedroom, ground-floor unit jux­ta­poses gritty indus­trial fea­tures like exposed brick, wood beams, open duct­work and rounded win­dows with a sleek con­tem­po­rary kitchen and min­i­mal­ist bath­rooms. The bed­rooms are set off by cur­tains, not walls, which could make for some pri­vacy issues.

    Com­ment: Trivia – Robert Watson’s old house on St. George Avenue is also a loft! This is another of the best con­ver­sions in Toronto, eas­ily in the top 5 or 10. If you can get one, buy it, you will not regret it.

    Robert Watson Lofts - 363 Sorauren Avenue

    Robert Wat­son Lofts – 363 Sorau­ren Avenue

    —————————————————————————————————–
    Con­tact the Jef­frey Team for more infor­ma­tion – 416−388−1960

    Lau­rin & Natalie Jef­frey are Toronto Real­tors with Cen­tury 21 Regal Realty.
    They did not write these arti­cles, they just repro­duce them here for peo­ple
    who are inter­ested in Toronto real estate. They do not work for any builders.

    —————————————————————————————————–


    Incom­ing search terms
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