Tag Archives: lakeshore
Mimico waterfront
Another “wall of condos” disaster in the making?
When Waterfront Toronto was created in 2001, the agency was promised wads of public funds and told to undo the pell-mell planning that has marred a crucial city asset: its lakeshore.
Now, some residents of southern Etobicoke are concerned that the same mistakes are being repeated along the western waterfront, and no one is watching.
“They built a wall of condos, and now they’re paying (hundreds of millions) to fix it,” says Mimico resident Kyle Gojic. “We’re doing the same thing here, but on a larger scale.”
Comment: What hundreds of millions are being spent? To fix what? Who is spending it? I am confused…
Like so many Toronto stories, this one starts with condominiums.
In 1997 Doug Holyday, then mayor of Etobicoke, announced plans for a new neighbourhood: Humber Bay Shores. The former “motel strip” — a seedy area south of Lake Shore Blvd. W. and east of Park Lawn Rd. — saw its first new condo a year later.
Since then, highrises have sprouted like toadstools.
“There’s very large numbers of people in buildings that are just higgledy-piggledy scattered across that area. There’s no coherent pattern of public spaces, there’s no shopping or retail,” says Ken Greenberg, an architect and urban designer who has consulted for Waterfront Toronto.
Comment: They are pretty orderly, in a line along the water. Not exactly random. But there is diddley-squat for retail or decent public transportation.
“It’s one of the most egregious, terrible examples of lack of any kind of decent planning one can think of.”
Some may disagree. But many in Mimico — the next community over, where a massive revitalization plan known as “Mimico 20/20″ is underway — look east to Humber Bay Shores as a warning.
“The multi-multi-multi-storey buildings? It scares me,” says Bob Poldon, president of the Mimico Residents Association.
Comment: Wow, sounds just like the anti-development folks in The Beaches. Can’t stop it people, progress needs to happen. Development news to happen. Less sprawl and more intensive housing. And it needs to happen everywhere, even in your neighbourhood.
A century ago, wealthy Torontonians came to Mimico to build luxurious beachfront estates. But in the mid-1900s, politicians, some of whom were eventually embroiled in a corruption scandal, let developers build blocks of nondescript midrise rental apartments south of Lake Shore Blvd. W.
“I call it the Great Wall of Mimico. If you drive by, and you aren’t from the area… half the people wouldn’t even know that the water is right there,” says Mark Grimes (Ward 6, Etobicoke–Lakeshore).
There are “parking lots right up onto the water”s edge,” he points out. “It’s ridiculous.”
Grimes launched the Mimico 20/20 revitalization plan in 2006. But the process has stopped and started, and some residents find the plan opaque. Gojic recently sent a letter of concern signed by 80 of her neighbours to city planning staff. They want to know, for one, whether the plan will set height and density restrictions for new buildings.
Comment: Like in The Beaches, all it takes is 80 people – or less – to make life difficult for everyone else.
In Mimico at large, fears are swirling over one site owned by Longo Development Corp., which now hosts six lowrise rentals near the lake, all huddled around a historic early 20th century villa. Last year, Longo submitted an application that describes redeveloping the site into two midrise towers to replace the rental units and, controversially, six more towers ranging from 20 to 44 storeys. The historic villa was not described in the plans.
Dino Longo, principal of the company, says the application is incomplete and will be resubmitted once Mimico 20/20 is complete. He called the plans “exciting” and said residents” concerns over the historic villa will be addressed, but did not back away from the proposed tower heights.
Grimes doesn’t believe a 44-storey tower fits the neighbourhood. “But the community has to also understand that for all this redevelopment that most of people want to happen, something”s gotta give.”
Comment: I do agree that a 500-foot building is a bit much for the location. But some nice mid-rise or low-rise, less than 20 storeys. Somewhere in the 8-12 storey range would be appropriate.
By law, for example, developers must replace all torn-down rental units. For the landowners redeveloping those aging midrise apartments, “A four-storey building, it’s not going to happen. Otherwise you can put this study back on the shelf,” says Grimes.
Comment: They can also build a park or other amenities in lieu of the rental units.
Both Gojic and Poldon say residents strongly support revitalization and to preserve the kind of affordable units that will maintain Mimico’s un-gentrified, mixed-income makeup. But they want the revitalization process to better engage residents — and all Torontonians. A community workshop is planned for May 29.
“This is the western waterfront. This is a huge deal,” says Gojic. “I think we’re really going to lose out unless people start to pay attention.”
And Gojic, unlike Poldon and councillor Grimes, thinks Toronto needs one steward for its entire lakeshore. Waterfront Toronto gave $20 million for a new strip of lakeside parkland in Mimico, but its jurisdiction ends at Parkdale.
“If I was to dream a dream,” she says, “it would be that Waterfront Toronto would be given the mandate to oversee” Mimico.
Comment: As much as I decry people preventing development for the sake of it, I do believe that more thought – a LOT more thought – needs to be put into Toronto development as a whole. Take Chicago, where every new building has to be taken in context of the whole skyline, before being approved. Nothing is a one-off, everything must be judged as it relates to existing buildings.
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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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A look at the lakefront’s rising condos
Lisa Van de Ven – National Post
What should Torontonians expect the waterfront to look like in 20 years? Nothing less than an entirely “different skyscape,” says John Campbell, president and CEO of Waterfront Toronto.
The rapidly changing neighbourhood is an intriguing place to be for those living along the lakeshore. “It’s going to be very exciting and vibrant. You’ll have retail, office and residential [components],” Mr. Campbell says. What’s more, he says, all of it will be cohesive. [Though] done by different builders, it will be consistent. “We’re making sure there’s really great design.”
Previously undeveloped areas will become neighbourhoods in their own right, including the West Don Lands, where developer Urban Capital Property Group is kickstarting an entirely new residential area with its project River City. Approximately 1,000 units are planned. With construction for the Pan/Parapan American Athletes’ Village underway in the neighbourhood as well, there’s a lot of momentum already happening, says Jeff Geldart, Urban Capital’s development manager. “Once those areas get populated, it’s going to be quite hard to stop it,” he says. “I think it’s going to bring a huge amount of value to the east end of Toronto.”
In the west end, meanwhile, the waterfront changes bring additional value to the condominium projects currently underway. Sue Young, sales manager for Onni Group, says many buyers cite the waterfront changes as one of their reasons for wanting to live close to the lakeshore. Onni has three buildings underway — Garrison, Local and The Yards — at its Fort York master-planned community. “They see there’s a lot of potential here,” she says. “The waterfront is a major selling point for them.”
33 Bay
52 storeys; 634 units Builder Pinnacle International Location Bay and Harbour Suite Availability 93% sold. One-bedroom, one-bedroom-plus-den, two-bedroom, two-bedroom-plus-den and three-bedroom units from 618 to 1,792 sq. ft. and $329,900 to $1,469,900 Hot Tickets There is a 30,000-sq.-ft. amenity centre with a swimming pool, two gyms, racquetball, squash and tennis courts. Status Occupied and registered Occupancy Immediate
Garrison
12 storeys; 242 units Builder Onni Group Location Fort York and Bathurst Suite Availability 75% sold. One- and two-bedroom units from 446 to 975 sq. ft. and $207,900 to $474,900 Hot Tickets The building will have a rooftop terrace with a barbecue area and garden. Status Under construction Occupancy Fall 2012
Local
13 storeys; 239 units Builder Onni Group Location Fort York and Bathurst Suite Availability One- and two-bedroom suites and townhomes from 429 to 1,440 sq. ft. and $219,900 to $844,900 Hot Tickets The building will have a rooftop agricultural garden. Status Pre-registration Occupancy Summer 2014
Monde
40 storeys; 516 units Builder Great Gulf Location Queens Quay and Bonnycastle Suite Availability 40% sold. One-bedroom, one-bedroom-plus-den, two-bedroom, two-bedroom-plus-den, three-bedroom and three-bedroom-plus-den units from 483 to 1,331 sq. ft. and starting from the mid $300,000s Hot Tickets The building was designed by acclaimed architect Moshe Safdie, to LEED Gold standards. Status Actively selling Occupancy April 2016
Pier 27
Two buildings of 14 and 12 storeys; 714 units Builder Cityzen Development Group and Fernbrook Homes Location Queens Quay and Yonge Suite Availability Phase 1 is 91% sold; Phase 2 is 93% sold. One-bedroom, two-bedroom, two-bedroom-plus-den and three-bedroom-plus-den penthouses remain, from 675 to 4,036 sq. ft. and $460,000 to $5,448,600 Hot Tickets The buildings will be connected at the 12th floor by a cantilevered bridge. Status Under construction Occupancy October 2012
River City
Four phases, two of which have been released. Phase 1 is two buildings of six and 16 storeys; 349 units. Phase 2 is 12 storeys; 249 units. Builder Urban Capital Property Group Location King and River Suite Availability Studio, one-bedroom, one-bedroom-plus-study, one-bedroom-plus-den, two-bedroom, two-bedroom plus-den, penthouse and townhouse units from 400 to 2,000 sq. ft. and $239,900 to $1,150,000 Hot Tickets A three-storey bridge will connect the Phase 1 buildings. The Phase 2 building is designed to look like three mini-towers. Status Phase 1 is under construction; Phase 2 is actively selling. Occupancy January 2013 for Phase 1; May 2014 for Phase 2
The Yards
28 storeys; 412 units Builder Onni Group Location Fort York and Bathurst Suite Availability 80% sold. One- to three-bedroom units from 490 to 1,352 sq. ft. and $276,900 to $713,900 Hot Tickets
Features views of Fort York and the city skyline Status Under construction Occupancy June 2014
York Harbour Club
Two buildings of 17 and 15 storeys; 502 units Builder The Plaza Corporation Location Fort York and Grand Magazine Suite Availablility 98% sold. One- and two-bedroom units from 500 to 750 sq. ft. and $258,900 to $419,900 Hot Tickets Located across from June Caldwell Park Status Under construction Occupancy Spring 2014
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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
Condominium builders battle for the middle ground
High-rise projects sandwiched between downtown and the suburbs have to offer more to compete effectively
By Derek Raymaker – The Globe and Mail
The vast choice in new high-rise condominium suites in central Toronto has wedged prices and demand in a nice equilibrium, if temporarily.
At an average price of $331 a square foot across Greater Toronto, condominium prices are not spiralling out of control in the same way as new detached homes, even though four high-profile super-luxury projects, including one under the Ritz-Carlton banner, have been launched, driving up the average price.
And Torontonians should be surprised and satisfied to know that condo prices here are in line with most other Canadian cities, and actually a bargain compared with Victoria, Vancouver and Calgary.
When you pull yourself away from the economic analysis (which shouldn’t be too hard) and visit the sales centres of new downtown projects, you’ll find finely tuned marketing machines aiming directly at the lifestyle-oriented instincts of buyers looking for convenience and trendy design.
But it’s location that will always trump these other factors, and a hot corner can be worth all the granite countertops in the world. There are over two dozen condo sales centres currently open in central Toronto, and there would seem to be something for everyone .
The new projects competing with them in Etobicoke, North York and Scarborough need to offer more.
Developers in this grey area of the high-rise market — not quite downtown, not quite suburban — have also gravitated to particular locations featuring either scenery or convenient transportation.
In Etobicoke, the western lakeshore straddling the mouth of the Humber River continues to hit the right notes with buyers. The subway — and subway extensions — have guided North York’s high-rise development. And the Scarborough Town Centre transit and highway corridor is the site of pretty much all of the high-rise projects in that former borough. Of course, these all come with the discount you’d expect for being out of the trendy loop that exists south of Eglinton Avenue.
None of this is rocket science to any savvy marketing team. But there is one key advantage these traditional low-rise neighbourhoods have over the trendy downtown projects that bodes well for future high-rise development. That is the prevalence of tens of thousands of older couples who want to sell their large maintenance-intensive houses, but not leave their neighbourhoods.
There’s also the added bonus that many of these older buyers are able to buy a high-end two-bedroom suite priced at $500,000 or so with no mortgage after they sell their family house for $750,000 in pockets like Lawrence Park or The Kingsway.
Bayview Avenue has been a particularly popular spot for new empty-nester buyers looking for a well-appointed suite with larger square footages than you’d find in downtown Toronto‘s shoeboxes in the sky to handle all the family heirlooms.
Daniels Corporation’s Kilgour Estates, just south of Lawrence Avenue, has been a huge hit with homeowners from the immediate area, with prices starting at $474,000 and going up to $1,586,000 for between 1,072 and 2,293 square feet.
Further north on Sheppard Avenue is Shane Baghai’s St. Gabriel Village, on a site to be shared with a church and to feature an emphasis on energy conservation. It has been on the market for a year with prices at $479 a square foot.
The overall price picture outside of downtown features many projects with fairly expensive suites like those mentioned above, and loads of traditional high-rise condos catering to the first-time buyer on a budget, but not much in between.
The early data for 2006 indicates it’s been a soft market overall in these areas, with a lot of building going on but not much buying.
In west North York, the average high-rise suite price reported for February was $269 a square foot, up a modest 3.8% from February, 2005, according to data compiled by RealNet Canada. The North Yonge Street corridor reports a price of $316 a square foot, up 1.6% from February, 2005, while Scarborough was at $276 a square foot, up 6.1% from February, 2005.
Etobicoke average suite prices are actually above the Greater Toronto average at $359 a square foot in February, up 3.1% from $348 in February, 2005.
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