Tag Archives: empty nesters
When it comes to condos, size does matters
Larger units ease the transition for move-down buyers.
Ryan Starr – Toronto Star
Many of the purchasers at Ian Zagdanski’s Forest Hill luxury condo project will be moving out of stately homes in high-end neighbourhoods around Toronto.
So the developer of The Upper Canada — an 18-storey building on Avenue Rd. south of Lonsdale Rd. — understands these buyers may feel some trepidation at the prospect of trading in their mansions for life in a multi-family building.
“Transitioning into a condo could come as a shock to the system for people used to living in a 3,000-square-foot house,” acknowledges Zagdanski, vice president of State Building Group.
But unlike at most downtown Toronto condo projects these days — typically tall towers that are filled with tiny units in an effort to keep the offerings affordable —The Upper Canada’s 93 suites will be anything but shoeboxes; all are two-bedroom-plus-den units ranging from 1,000 square feet to 3,000 square feet, plus a balcony or terrace. Prices start in the $800,000s and go to over $2 million.
“Our buyers aren’t going to move into a 500-square-foot condo — they’re just not going to go there,” Zagdanski stresses. “So we’ve got suites that address the needs of people who are moving from bigger homes. And we think they’re a manageable size.”
While the Toronto condo market appears to be taking a bit of a breather, luxury projects like the Upper Canada will continue to sell, Zagdanski insists, because they appeal to wealthy downsizing purchasers who are looking to live in larger condos, just not in a faceless 40-storey building. This upper echelon of buyers hasn’t been well served by most of the projects that have come to market in recent years, he says.
Comment: Right, a breather. That is why sales went from –17% in Q1 to –0.4% in April? A rise of more than 16% is a breather? And condo prices are up, their sales volume is up. Hold on there, we are doing better than you insinuate.
Ted Burnett agrees. The president of Burnac Development Corp., which is developing 277 Davenport — a six-storey, 10-unit project on Davenport Rd. just west of Avenue Rd. — notes that most of the luxury condos out there simply don’t appeal to the sort of purchaser he’s been aiming to lure: wealthier move-down buyers from Forest Hill or Rosedale.
“Those people don’t want to live in some tall tower where you don’t get to know your neighbours, where you just go up and down in an elevator with strangers all day long and don’t have any personal interaction,” he says.
At 277 Davenport, suites range from 1,819 square feet with two bedrooms and two and a half bathrooms, to 3,767-square-foot suites with three bedrooms and three and a half bathrooms.
Prices start at $1.65 million for lower-floor suites and go to $3.3 million for those on the top levels. Unit layouts and finishes can be customized to suit the tastes of the buyer.
Three of the units have sold so far, all of them to empty nesters moving from larger homes. “For people who are coming out of a house that’s 6,000 square feet, these still offer substantial space and room for storage and privacy,” Burnett says. “It’s not like we’re building 50 floors of pillboxes.”
(The penthouse unit at 277 Davenport — which takes up the entire top floor of the building, with a direct elevator, large patio and terrace and private swimming pool — sold earlier this year to a local buyer for $5.3 million.)
Burnett says 277 Davenport is modeled after the smaller high-end residences found along Park Avenue in New York. “When there are only 10 families in the building, you’re always seeing them and interacting with them,” Burnett says. “For people who are moving from houses, it’s a much more intimate style of living.”
Downsizers who can’t afford to purchase at one of these super luxe projects, but nonetheless want a fair-sized condo to transition into, may want to consider heading north.
At Dream Tower, the 25-storey third phase of Emerald City at Don Mills Rd. and Sheppard Ave., many of the 316 suites on offer are two-bedroom-plus-den units as large as 1,265 square feet.
“You don’t hear much about (suites that size) downtown, unless they’re in a luxury building,” says Baker Real Estate president Barbara Lawlor, who is handling sales for the project. “This building is mid-level and yet you can have those kinds of choices and they’re affordably priced.”
A 1,000-square-foot suite at Dream Tower sells for $499,900, she points out, making it an attractive choice for move-down buyers who live in the area. “Even if you’re coming from a more middle-of-the-road home, you can still get a good-sized suite with the square footage all on one level, which is more efficient than in a house.”
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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.
—————————————————————————————————–
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The good Sheppard corridor
Suzanne Wintrob – National Post
Clifford Korman and his team at Kirkor Architects and Planning are immersed in condos. On the Sheppard corridor alone, the senior partner, architect and urban planner has been overseeing the design of more than of 20 condominium towers. Why? Because “Sheppard is a great street and I believe in it,” Mr. Korman says.
Among Kirkor’s current projects are Tridel’s Hullmark Centre, Rockport Group’s Twenty One Clairtrell and Phantom Development’s Jade Condominiums.
Given the 25- to 40-year-old demographic that’s moving in, Mr. Korman is building suites with bold designs to hold their interest. He says many buyers are immigrants — or children of immigrants — from Korea, Iran and Asia who “like modern-contemporary-with-lots-of-glass buildings and they like high-end finished spaces. They don’t need big areas — they’re not used to it — and they’re pleased to buy smaller units at top-quality fitments.”
Empty nesters, though, are “a rarity in the Sheppard corridor,” Mr. Korman says. Instead, they’re moving farther south to Eglinton and Bayview for larger, more luxurious 1,200- to 2,000-sq.-ft. units such as those at Kirkor-designed Blythwood at Huntington by Tridel.
Here’s a sampling of projects:
Argento
26 storeys, 290 units (plus nine townhomes not yet released) Builder Tridel Location Don Mills and York Mills Suite Availability 77% sold. From 550 to 998 sq. ft. and priced from $288,000 to $509,000 Hot Tickets Nestled within the Don Ravine system and overlooking the Donalda Golf and Country Club Occupancy Summer 2014
Blythwood at Huntington
Nine storeys, 118 units (Blythwood is the first of two towers in the Huntington community) Builders Tridel and Concert Properties Location Bayview and Lawrence Suite Availability 70% sold. Two-bedrooms from 1,121 to 2,879 sq. ft. and priced from $755,000 to $1,925,000 Hot Tickets Nine-ft. ceilings, LEED candidate Status Under construction Occupancy Spring 2013
Burkebrook
21 three-storey condominium townhomes Builder The Daniels Location Bayview and Lawrence Suite Availability Only four townhomes remain. 1,947 to more than 2,000 sq. ft. and priced from the mid $900,000s to $996,900 Hot Tickets Double-car garage, charming front porch, gas fireplaces, large outdoor cedar-decked terrace and lush landscaping; residents can enjoy the private amenities of the Kilgour Club, a recreational, fitness and social hub located in Phase 1 of Kilgour Estate Status Under construction Occupancy 2012
Canterbury Lawrence Park
A collection of 174 townhomes Builder Tribute Communities Location Bayview and Blythwood Suite Availability From 1,650 to 1,997 sq. ft. and priced from $697,990 to $1,096,990 Hot Tickets Situated in a park-like ravine setting in a prestigious Bayview neighbourhood minutes to the exclusive Granite Club; underground parking with direct suite access Status Under construction Occupancy July 2013
The Dream Tower at Emerald City
25 storey, 316 units — the third of six towers creating the Emerald City master-planned community Builder Elad Canada Location Sheppard and Don Mills Suite Availability 523 to 1,265 sq. ft. and priced from the mid-$200,000s Hot Tickets Ground-floor lobby with concierge services, elegant sitting area with mail room, billiards area, theatre, indoor pool, outdoor terrace Status Tower 1 under construction Occupancy December 2014
Flaire
Two 11-storey towers with a four-storey podium, 296 units Builders FRAM Building Group and The Cadillac Fairview Location Lawrence and Don Mills Suite Availability From 504 to 1,100 sq. ft. and priced from mid-$200,000s to mid-$500,000s Hot Tickets Resort-like front courtyard, fireside lounge, self-serve pet spa, landscaped rooftop terrace with barbecue pits and Miami-inspired cabanas Status Sales office just opened Occupancy December 2014
Leslie Boutique Residences
11 storeys, 182 units Builder Great Lands Location Old Leslie and Sheppard Suite Availability 90% sold. From 549 to 1,077 sq. ft. and priced from $265,000 Hot Ticket Steps from Leslie Street subway station Status Under construction Occupancy Spring 2013
LIV LOFTS
14 storeys, 175 units Builder FRAM and Cadillac Fairview Location 75 The Donway West Suite Availability More than 70% sold. From 395 to 940 sq. ft., including both flats and four townhouse units and priced from the mid-$200,000s Hot Tickets Retrofit conversion of an existing office tower into a loft-style condominium with 10-ft. ceilings; Club Liv rooftop for outdoor movies under the stars, a hot tub with panoramic views of the city, al fresco dining and barbecuing, indoor/outdoor fireplace, sun tanning deck and private lounges Status Pre-construction Occupancy Mid-2013
ALTO and PARKSIDE at Atria
First phase in the Atria community, Alto is a 43-storey, 578-unit tower connected to the eight-storey Parkside by a grand central lobby and courtyard entrance Builder Tridel Location Sheppard and Highway 404 Suite Availability 66% sold. 545 to 1,207 sq. ft. and priced from $288,000 Hot Tickets Party room with bar and fireplace lounge, private dining room and billiards lounge Status Now open Occupancy 2015
Reflections
12 storeys, 106 units Builders FRAM and Cadillac Fairview Location 85 The Donway West Suite Availability Only three units remain, all 1,225-sq.-ft., two-bedroom plus den priced from $605,900 Hot Tickets Inaugural condominium building at Shops at Don Mills, seeking LEED certification Status Under construction Occupancy Spring 2013
Scenic III
18 storeys, 316 units plus 10 townhomes Builder Aspen Ridge Homes Location Leslie and Eglinton Suite Availability 75% sold. From 425 to 907 sq. ft. and priced from $187,990 to $438,990, townhomes from the mid-$600,000s Hot Tickets Styled like a hilltop European village with grade-related townhomes and cascading terraces leading gradually to the taller towers, and street lamps and benches dotting the pathways Status Open for sales Occupancy Spring 2014
St. Gabriel Manor
Eight floors, 96 units Builder Shane Baghai Location Bayview and Sheppard Suite Availability Only two suites left: a 705-sq.-ft. one-bedroom plus den for $408,000 and a 1,035-sq.-ft. two-bedroom for $595,000 Hot Tickets European inspired architectural detailing, balconies, covered entranceway and classic brick exterior; each floor has different colour palette and theme inspired by the builder’s travels to Europe Status Complete Occupancy Now
Twenty One Clairtrell
Seven storeys, 128 units Builder The Rockport Group Location Sheppard and Bayview Suite Availability 98% sold. From 535 to 1,572 sq. ft. and priced from $299,900 to $1,180,900 Hot Tickets Walking distance to Bayview Village and TTC; sixth-floor residents’ terrace and private terraces for seventh-floor penthouses Status Under construction Occupancy Fall 2012
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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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277 Davenport offers intimate luxury
Ryan Starr – Toronto Starr
Growing numbers of this city’s wealthy empty nesters are looking to downsize from larger homes and enter the world of condo ownership, but without sacrificing the luxurious lifestyles to which they are accustomed, naturally.
When it comes to truly luxe condo offerings, however, options in Toronto tend to be limited.
“There’s a lot of luxury real estate on the market with hotels and all the activities, the hustle and bustle, if you want that,” says Burnac Development Corp. president Ted Burnett.
“But lots of those people just don’t want to move into a 50-storey condo building where you don’t know your neighbours. The transition from the high-class home in Forest Hill, with a lawn and driveway, to a huge pill box — it’s too much to handle.”
Burnac’s new luxury project, 277 Davenport, a six-storey, 10-unit boutique building just west of Avenue Road — or Ave and Dav, where Yorkville meets the Annex — offers the upmarket/downsizing crowd something rather different, he says. “Here you’ll know your neighbour; you’ll walk down the hall and say hello to someone. And there are only 10 units, so the elevator will come when you want it.
“It’s a nice transition for an affluent person who becomes an empty nester and who doesn’t want (to deal with) that whole thing with the highrise.”
277 Davenport’s luxury suites range from 1,819-square-foot units with two bedrooms and two-and-a-half bathrooms to 3,767-square foot suites with three bedrooms and three and a half bathrooms.
Prices go from $1.65 million for lower-floor suites to $3.3 million for those on the top levels. All units come with one parking space. (The project went on sale late last year.)
The penthouse takes up the entire top floor of the building, has a direct elevator, large patio, a terrace, and a green roof with lounge seating and swimming pool. It recently sold for $5.3 million, “by a local empty nester,” Burnett says — to someone in the “fashion business.”
277 Davenport, a building with strong horizontal planes punctuated by large balconies and floor-to-ceiling glass, is designed by Toronto architects Hariri Pontarini, the top-flight firm behind projects such as One Bloor, Shangri-La and The Florian.
Unlike some of the glitzy new hotel-condos downtown, 277 Davenport is aiming for luxuriousness without going gaudy, explains interior designer Tristan Fuller. “It’s not over the top luxury. We’re not talking Trump here. It’s more subtle; an understated elegance.”
Suites have 10-foot-high ceilings in principal rooms, floor to ceiling windows and terraces. Flooring is custom-stained straight plank hardwood. All residences are pre-wired for future installation of motorized shading and come with a glass enclosed gas fireplace.
“We’ve designed the principal rooms to serve as backdrops for collections and for entertaining,” explains Alana Boychuk.
Kitchens have Corian countertops, 10-foot islands and high-end appliances, including a 30-inch Miele fridge/freezer, Miele gas cooktop and a stainless steel Miele wall oven. There is also a dishwasher and front-loading washer/dryer — yes, both Miele.
The master ensuite has a six-foot Duravit soaker bathtub and Zucchetti shower bar with rain shower-head. “The appliances and fixtures are in keeping with what’s expected at this level,” Boychuk says.
“Conformity is not spoken here,” the sales brochure for 277 Davenport notes.
Indeed buyers are able to customize their units, and most so far have done just that, Burnett says.
“One buyer wanted traditional design, so we changed the trim package. One wanted totally modern, so we switched to modern. Even walls, if they’re non-structural, we can change that too.”
Most builders would freak at having to deal with so many changes, but in this case Burnett insists he doesn’t mind. “This is not a cookie cutter project, customization is definitely available here.”
Accordingly, Boychuk + Fuller have designed residences that present a “comfortable backdrop,” Fuller says. “The colours are all very warm and there’s a certain plushness … but we didn’t over-program the suites.”
Burnett says 277 Davenport is modeled on the kinds of apartment buildings one might find along Park Avenue in New York — smaller high-end residences with a concierge. “It’s a way of life that’s well-tested in other major cities, and something we thought was lacking here.”
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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
Related posts:
- Luxury Living: Cool with condo As Toronto condo prices march steadily upward, luxury suites are...
- Luxury Living: Little Luxuries While growing Toronto is home to plenty of soaring developments...
- Toronto Luxury Condos: ONE12 St. Clair Experience Unparalleled Intimacy And Opulence New Dream Homes and Condos...
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