Tag Archives: new toronto condos
Toronto real estate: First-time homebuyers heavily influenced by commute
Being close to transit, not so much friends and family, a priority, BMO says
Susan Pigg – Toronto Star
Commute times are becoming key for first-time homebuyers, according to a new BMO survey.
Of course, finding a home in a safe neighbourhood is still the top concern, ranking as the first priority for 62% of first-time buyers surveyed, just below the 63% national average among buyers overall.
But the No. 2 priority for first-time buyers — which has helped fuel the boom of downtown cores and condos in Toronto and other major cities across the country over the last decade — is being near transit, according the BMO survey.
Some 28% of first-time buyers say being near subway or bus lines is a major driving force in their buying decisions, significantly more than the national average of 19% among all other buyers, the report shows.
They’re also not keen to waste a lot of time just getting to and from work, with some 34% of first-time buyers looking for short commutes, compared to the national average of 28%.
That emerging trend has been playing out in Toronto over the last five years in particular, helping to fuel the explosion of highrise condos and the development of burgeoning neighbourhoods like Liberty Village, and also driving up prices and fuelling bidding wars for houses in coveted neighbourhoods within an easy commute of the core.
Being near family and friends, it turns out, is far less important for first-time buyers, with just 20% expressing that as a priority, compared to the national average of 25%.
Not surprisingly, a significant number of those childless young professionals looking to buy their first home are looking to be close to the action, with 28% keen to find a place close to restaurants and stores (compared to the national average of 23%) and just 30% set on being on a quite street, compared to the 43% of other buyers surveyed.
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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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New in Toronto Real Estate: The Madison
Sarah Ratchford – blgoTO
The Madison is a behemoth condo complex under construction at Yonge and Eg. The development, due for completion in 2015, is composed of no fewer than three buildings, for a total of 644 units. And those don’t seem to be 644 units of blase condo living, either. The amenities on this property are pretty decent, with a salt water pool, a sauna, a steam room, and a two-level gym.
There are few in-depth renderings of the actual suites at this point, but from what is available, they look to be reasonably bright and livable.
SPECS
Address: 101 Eglinton Ave. E.
Floors: 33, 30, 8
Total number of units: 260, 230, 154
Types of units: One bedroom, one plus den, two bedroom, two plus den.
Unit sizes (in square feet): 400 to 1,050
Ceiling heights: 9′
Prices from (available units): the mid-$200,000s
Maintenance fees: $0.54
Developer: Madison Homes
Amenities/building features: 24 hour concierge, fitness room, games room, roof deck, movie area, party room, swimming pool, sauna.
THE GOOD
Madison Homes appears to be paying close attention to the human need for outdoor air and greenery. They’ve included an egalitarian terrace on top of the smallest building, complete with barbeques and fire pits. Camping in the city? I think yes. It sounds like most units will have balconies as well, which is a bonus when your unit isn’t sweeping in size.
THE BAD
It seems there are suspiciously few windows in some of the units. My best guess is the developers are trying to stun Torontonians into helpless lethargy. The city is growing all the time, and while that’s totally awesome, the extra food has to come from somewhere. Some of the kitchen areas look fairly teensy according to the floor plans as well, but that’s par for the course at most new developments.
And, as I said last week, Yonge and Eg. is already home to a staggering number of condo developments. So if you’re looking for demographic diversity, this might not be the pocket of the city you’re after.
OUR TAKE
In short, this does not look like a bad development. But it doesn’t look especially stellar, either. This, alas, is true of so many new developments. The amenities are above average even as the units themselves are predictable. In other words, if you find the area appealing this is a project worth keeping an eye on.
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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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New in Toronto Real Estate: 155 Redpath Condos
Sarah Ratchford – blogTO
The Yonge and Eglinton area is about to welcome yet another condo development. This one will land at 155 Redpath Ave, and while it’s still on the mysterious side in that the developer has only released a handful of renderings, it looks like it might rate pretty well on that whole quality-of-life scale. Or whatever that’s called. Anyway, this place has a boatload of amenities with comparatively low maintenance fees. Also, they seem to like yoga — a lot. Chill waves.
SPECS
Address: 155 Redpath Ave.
Floors: 36
Total number of units: 470
Elevators: Yes
Types of units: Studio, one plus den, two plus den.
Unit sizes (in square feet): 377 to 1500
Ceiling heights: N/A
Prices from (available units): $229,900
Maintenance fees: $0.49
Developer: Freed Developments
Amenities/building features: Outdoor pool & hot tub, outdoor shower, poolside cabana lounge, sunbathing area, gas fire pit lounge and BBQ, outdoor dining area, floor amenity space complete with a pool table, kitchenette area, meeting lounge, indoor washrooms with changing area, sauna, multi-level fitness centre, indoor/outdoor yoga facility, gardens, party room, deck and lounge areas.
THE GOOD
Though I write about condos just about every week, and though I think they clearly make sense when it comes to fostering the kind of density we need in the city, I’m less than thrilled with many developments. I’m not going to lie, though. This place kind of makes me want to ditch my apartment and move on in.
The list of amenities that come with this property is actually shocking. It’s madness. Poolside cabana lounges, fire pit lounges, multi-level fitness centre…I’m sorry? There are resorts in Toronto now, and you can live in one starting from the mid-200,000s? Correct me if that doesn’t sound kind of amazing.
The layouts look pretty good, too, with proportional attention given to living space and bedrooms. There are large windows, and most units offer balconies of some sort, as well.
THE BAD
While this place seems like paradise, it has yet to be built. The maintenance fees seem a little on the low side to support such supposed grandeur, but innocent until proven guilty is the way it’s gotta go.
The one other issue I take with this property is something that’s cropped up many weeks in a row. I hate to belabour the issue, but there are rooms without windows. Clearly, I’m not an architect, but I can’t help but think that windows are a particularly important design component.
OUR TAKE
We have yet to see renderings that more specifically reveal what the suites will look like, and obviously that carries the most weight. But if they feature brightness and the same clean design as the rest of the building, it seems like an ideal spot, if you’re cool with living at Yonge & Eligible. I feel gross even typing that.
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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.
—————————————————————————————————–
Related posts:
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