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Tag Archives: public transportation

New in Toronto real estate: 101 Erskine

Robyn Urback – blogTO

101 Erskine is another giant condo set to arrive at Yonge and Eglinton (unfortunately becoming known as the one without the 31st-floor cantilever pools). A Tridel project, this condo will be another uber-huge-glass-structure, climbing 32 storeys and boasting 10 signature townhomes. With units ranging from studios to two-plus-den suites, this building will be plush with fancy amenities including an infinity pool. Which, granted, is just not as cool as a cantilever pool. Here’s a closer look at 101 Erskine.

THE GOOD

Let’s face it; Yonge and Eligible is never going out of style (though I’ll concede that that neighbourhood nickname is way past its prime, and even I’m ashamed to still use it). Whether or not you believe in the prophesized soon-to-burst condo bubble, I really can’t see how you could go wrong with a long-term investment at Yonge and Eglinton. And with the area poised to receive the new LRT line (hopefully alleviating some of its God-awful 5 p.m. traffic), public transportation in and out of the community should get a little easier. A good thing for those who don’t want to spend the cost of a car to park their car at their condo.

Now, if you look past the fact that this neighbourhood is in dire need of a good grocery store (shopping at the Yonge Eglinton Centre Metro is just terrible), this area really has everything. There are plenty of restaurants, shops, cafes, and even a movie theatre all within walking distance, and while the area doesn’t have the indie appeal of, say, Ossington or Parkdale, it does offer a multitude of options. I know I’m setting myself up for crucifixion here but I don’t care–sometimes you just need an Ice Capp from Timmies. There, I said it, and I regret nothing.

Onto the actual units. I’m pleased to say that 101 Erskine seems to offer the most livable studio suites among any of the new condos I’ve seen so far. While still measly in terms of square footage, the studio layouts do include sleeping “nooks” with 6-foot-high walls and an extra closet, creating the illusion (I suppose) of a bedroom without actually having one. Perhaps it does cut down on a feeling of “openness,” but I’ve lived in a bachelor suite and I can say with conviction: no one likes to look at the pile of dirty dishes in their kitchen from their bed when they’re trying to fall asleep. Good job, Erskine.

And one last boon: big balconies and lots of light in most suites is always a plus. A diversity of floor plans (with several larger units) means this building won’t reflect a homogeny of single young professionals. Move to Richmond Street for that.

THE BAD

Yonge and Eglinton is already a cesspool of congestion. I can only imagine what it will be like in, say, five years time, when this condo, plus the thousand-or-so units at E Condos, plus Madison Condos, plus others, are occupied. Nevermind that there are already two high schools in the area and a handful of recently completed projects. Better get used to knowing absolutely no one in your neighbourhood.

As for the condo itself, 101 Erskine ails in the same ways most new condos do nowadays. In the kitchens, you have those awful appliance walls with minimal counter space. As most of the suites have been laid out, there’s barely enough room for a table and space to squeeze by. Nevermind storage for dishes, small appliances and, you know, food. Yes, Yonge and Eglinton has lots of great restaurants, but at $600 per square foot, I’m thinking some new residents might want to eat in.

I’d also be slightly wary about condo fees. Artificially low for now, upkeep for all of those bells and whistles is bound to catch up with unsuspecting infinity-pool-enthusiasts sooner or later. Speaking of, why does this condo have its own billiards room with countless nearby bars equipped with their own? And a theatre room when there’s a movie theatre a few blocks away? Convenience is one thing, but I’d much rather take a walk and pay per use, than pay monthly fees for amenities I might never use.

THE VERDICT

It’s a non-negotiable that, if you’re willing to sign on, you must love Yonge and Eglinton, whatever your reasons, and should be prepared to share your beloved area with thousands of new neighbours. But seriously, can we get another grocery store?

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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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  • Toronto condos offer a world of appeal

    Not even those in Toronto may know how good they have it when compared with the rest of the world

    By Barbara Lawlor – Toronto Sun

    This is a particularly busy year for me when it comes to travel. Since January, I have visited Ft. Lauderdale, Miami, Atlanta, New York and most recently, Moscow. What a diverse range of cultures and new home markets.

    Once again, I was reminded just how prominent Toronto is on the world stage as a desirable residential destination. I was also made keenly aware of how respected Canadians are as knowledgeable consumers, and what an optimum time it is to consider purchasing a second or vacation home in the United States.

    Traveling in the U.S. is an eye-opener, with buildings sitting vacant and e-mails pouring in about properties being devalued because of the depth of that country’s recession.

    In addition to the traditional Canadian practice of buying property down south to enjoy a warmer climate during the winter, we understand the value of owning real estate throughout economic fluctuations.

    We are also used to putting down a substantial amount as a deposit and planning well for carrying a mortgage. And of course, our banking system is much sounder than in the United States. In fact, we have five of the top 10 world banks right here in Canada. Talk about having our act together.

    We not only came through the recent recession relatively unscathed, but also condominium sales in the Greater Toronto Area roared back.

    Soaring sales

    According to Urbanation, sales during the first quarter of 2010 represented the highest-ever number of first quarter new unit sales in the history of the Toronto Census Metropolitan Area, and were nearly six times higher than the first quarter of 2009.
    Canadians realize that even with occasional economic dips, real estate increases in value over time. And right now, buyers can own a vacation home in Atlanta, California and Florida for prices that will never be seen again.

    As for Toronto’s popularity with immigrants and foreign investors, our sound, stable economy is high on the list of desirable features, along with our peaceful democratic society.

    And as I have said time and again, our prices in Toronto are still undervalued on a world scale. For a second home, vacation home or investment property, a condominium in our city is extremely appealing to Eastern Europeans. The Russians were impressed with the quality and choice we offer here as well.

    Another big draw is the fact that Toronto is one of the world’s most cosmopolitan cities — and one of its safest. In fact, a recent report ranked Toronto second only to a city in Slovenia with a population of 267,000, and we have 5.5 million people.

    Envy of the world

    And of course, our lifestyle is the envy of the world, with excellent schools, world-class shopping and entertainment, and some of the most inspiring cultural institutions on the planet.

    No wonder so many immigrants want to move here and investors want to place their money in our condos.

    At Baker Real Estate Corporation, we have realtors approaching us from a remarkable array of continents and countries such as Asia, India, United Arab Emirates, Russia, Sri Lanka, Thailand, France, Belgium, Germany, Ireland, New Zealand and Australia.

    These people embrace the concept of condominiums, because they’ve grown up in high-rises in major urban centres. They are used to apartment-style living in the hub of the city, with jobs, public transportation and amenities at their doorstep.

    Many buyers own properties in cities around the world, and for them a condominium suite is handy when they’re here on business or on holiday. For some, it may be a compact pied-à-terre; others prefer a spacious penthouse to use for the same purpose.

    The more I travel, the more I appreciate what we have here — literally one of the best lifestyles anywhere. We enjoy on a daily basis what many people around the world only dream of.

    Whether you live here full time or just part of the year when you’re in the city on business or vacation, Toronto is a wonderful place to call home.

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    Contact the Jeffrey Team for more information  -  416-388-1960

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  • The urban upset

    Adam McDowell, National Post

    Richard Florida sighs, deflated by submarine sandwiches.

    A photograph of two Subway sandwiches lies on the table of Mr. Florida’s office at the Martin Prosperity Institute of the University of Toronto as he sits for an interview. He stares at the memo about cheese placement from Subway Australia’s head office to franchisees. What vexes the most celebrated urban planner of the moment is the fact that the memo replaces one black-letter directive (overlap the cheese) with another (tessellate the cheese — you can look it up).

    Having spent years advocating making service jobs more challenging and rewarding, Mr. Florida would prefer to see “Sandwich Artists” encouraged to do the geometry for themselves. “This is exactly what drove General Motors into the ground,” he says, shaking his head. “Treating employees as cogs in the machine.” The problem with being a guru is no matter how persuasive or prescient your recipe may appear, the real world has a habit of fixing a whole other sandwich. For example, Mr. Florida’s adopted home of Toronto has not been behaving the way he would like in the postrecession era.

    Toronto has figured prominently in Mr. Florida’s sermons since 2007, when U of T poached the urban theorist, originally from New Jersey, from Washington’s George Mason University. He says he has told Americans, “If you’re really interested in seeing a liveable, sustainable city, you’ve got to come to Toronto.”

    An entire chapter of his most recent book, The Great Reset: How New Ways of Living and Working Drive Post-Crash Prosperity, is dedicated to the greatness of Toronto. In particular, the number of young families living downtown impresses the transplanted American.

    As the post-recession era unfolds, however, Toronto threatens to become one tough sandwich for the urban economics guru to swallow. Mr. Florida’s adopted backyard is exhibiting a few trends that would seem at first to make the “spatial fix” he predicts in The Great Reset more unlikely to happen.

    As is his prerogative as an academic, Mr. Florida wears the hat of the prophet or the evangelist, depending on the circumstance.

    In the book and in our interview, he likens imagining the orld a few decades from now to trying to predict the post-war suburban boom on the day of FDR’s inauguration. That being said, self-fulfilling prophecies often pan out, and The Great Reset urges business and political leaders to help realize a new, post-industrial “spatial fix.”

    “One thing is certain,” he says in Chapter One. “[An] emerging way of life, which some already refer to as an impending ‘new normal,’ will be less oriented around cars, houses and suburbs.”

    Back to some of those difficulties fitting Toronto into this theory:

    1. People still want to own their houses

    “Mobility and flexibility are key principles of the modern economy. Home ownership limits both,” Mr. Florida writes in a chapter of The Great Reset about a coming “shift toward renting.” A labour force attached to its houses is less competitive than an unfettered one, he argues.

    He explains that a robust rental market has contributed to the success of cities from San Francisco to Washington and New York. “When 40% to 45% of your housing stock is rental, it enables you to adjust much better to economic changes,” Mr. Florida says.

    Meanwhile, figures released by the Toronto Real Estate Board this year have shown the city’s housing market back to the usual: in other words, record-breaking frenzy. The May report, issued last week, revealed the average cost of a house in Greater Toronto has reached $446,593, or 13% higher than a year earlier.

    The market is so strong, Toronto Real Estate Board president Tom Lebour says even people who expect to move from the city in a year or two often buy rather than rent, in order to build up some equity. Mr. Florida says advice about home ownership only applies to certain people and cities, and is mostly directed at the United States, which got more carried away during the boom of the 2000s than Canada.

    “Folks who have a job that they know is stable, and they’re going to stay in the city for a long time, they should probably buy a house,” he says.

    2. People still want to live in the suburbs

    According to data released this week by Statistics Canada, 14% of residents in the child-rearing age range of 25 to 44 decamped from the core municipalities of Toronto, Montreal and Vancouver between 2001 and 2006 and headed for the decidedly less Floridian suburbs.

    Some 95,700 Torontonians swapped their 416 area codes to become suburban 905ers, compared with 27,500 who moved in the opposite direction.

    While Mr. Florida may be associated with championing dense urban environments, his postrecession message has acknowledged that the suburbs are not going to be vacated.

    “There’s no shortage of dyed-in-the-wool urbanists out there predicting the death of the suburbs and a return to denser, urban neighbourhoods,” he writes. “It’s a lovely, romantic notion, but it’s wrong.”

    Homeowners and businesses with roots and investments in suburban locales are not about to make a reverse flight back to cities. Mr. Florida says one key to the Reset is “the rebuilding of older suburbs,” and he lauds “attempts that officials and planners and politicians are making to have more transit-oriented development, to rebuild our walkable communities, to retrofit our communities.”

    Mr. Florida says projects like this are taking place in Mississauga, Markham and Ajax.

    3. Suburban transit riders are still waiting for expanded public transit

    In the remade suburbs of the future, Mr. Florida says “those who prefer to take public transportation or walk or ride their bikes to work will also be able to.”

    In reality, Ontario’s governing Liberals curtailed Toronto’s plans to branch light rail transit into its inner suburbs in their March budget. The regional transit body was asked to find $4-billion in savings over five years, which forced shortening of the routes and lengthening of the construction timelines.

    Last year, Mr. Florida and his colleague Roger Martin delivered a report to the Ontario government insisting it invest in the province’s workforce and infrastructure, stopping bailouts for failing industries. Mr. Florida declined to bite the hand of Premier Dalton McGuinty when asked to comment on the Transit City decision.

    “I’m not an expert on transit. Look, I think we need a transit system that is seamless, that can get people from point A to B to C to point Z without having to go nuts — and certainly a transit system that connects us to our airports. We definitely need high-speed rail in this region,” he says.

    The most fearsome challenge facing Toronto, according to Mr. Florida, is a familiar one to drivers. “The traffic in this city is terrifying.”

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    Contact the Jeffrey Team for more information  -  416-388-1960

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