Sports site condos get underway
Excerpt from an article by Diane Tierney - Toronto Star
The 872-suite, two-tower condominiums, called the Residences of Maple Leaf Square, are 95% sold. The project has won the 2006 Community of the Year award from the Greater Toronto Home Builders’ Association for providing the best quality of life-enhancing features and amenities.
Maple Leaf Square is anchored by retail space that includes the 47,500-square-foot Longo’s; 6,000-square-foot MLSE high-tech restaurant; 20,000-square-foot MLSE sports bar; 9,000-square-foot MLSE retail store; 3,000-square-foot MLSE broadcast studio; 2,000- square-foot MLSE theatre; plus a 5,000-square-foot daycare centre, and boutique hotel. The complex also offers 226,355 square feet of leased office space on floors two through nine.”Toronto city (officials) wanted to see more vibrancy and to create a use for the property 24 hours a day. I visited a few sites that are close to sporting venues such as in Miami. There is a complex there built adjacent to where the Miami Heat play. I believe that Dallas is also looking to do the same type of synergy where residential and commercial components are created close to sporting facilities. It’s an exciting combination,” said Fenton.
More than 800 units at Maple Leaf Square were sold in the first six months. “By winning Community of the Year, it also shows that we were right on the money with this project. What’s also exciting is that it has kick-started a lot of other developments in the area,” said Fenton.
“Lanterra has also just acquired 2.8 acres next door to the west and is looking to create a similar vision with Cadillac Fairview.” From Maple Leaf Square, residents can walk via Toronto’s PATH system to the Air Canada Centre and Union Station. The development’s public square will be used to enhance events at Air Canada Centre where they can enjoy Leafs and Raptors games, or concerts.
Available suites range from 400-square-foot studios priced from $197,900 to $201,900; to one-bedroom plus den or study, 552 to 607 square feet, from $262,900 to $298,900; two bedroom suites, 825 to 1,235 square feet, from $371,900 to $675,900; two-bedroom plus study suites at 1,016 square feet from $473,900 to $485,900; and penthouses, 1,240 to 2,124 square feet, from $716,900 to $1,346,900.
First occupancies in the North Tower are slated for October 2009, and South Tower occupancies are planned for March 2010.
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