Tag Archives: sale
Condo tower offers soaring views of city’s heart
Excerpt from an article by Shelly Sanders Greer – Toronto Star
Infinity 2 is a 16-storey condominium with an eye-catching exterior made of tinted glass enhanced with concrete. Located close to the heart of the city, the contrasting views make this project exceptional.
“We are sold out of the two-bedroom and den models that face west, looking across Lower Simcoe St. to the park. But there are still some good choices with other plans facing west,” he says. “The two-bedroom and den models on the northwest corner by the CN Tower are especially popular as well.
“The location of Infinity 2 is the number one benefit. A lot of professionals are downtown and don’t want to commute. Some of our purchasers are retiring from the suburbs.
Infinity 2 will have 244 suites, ranging from 526 to 912 square feet. Mersereau says the floor plans are very practical and livable, with a good use of space.
All of the Infinity 2 units have balconies, marble entrance foyers, ceramic tile in the kitchen, six appliances, soaker tubs in the master suites, ensuite thermostats for heating and air, a phone system connected to the lobby, solid-core stained entry doors, and open concept layouts.
Prices start at $179,900 and go to $370,000. Maintenance fees are 45 cents a square foot per month.Sales have been steady and that construction is well under way. The outer structure is finished and the first occupancies are expected in May 2007.
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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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Luxury tower caters to the young and hip
The Globe and Mail
Following the sellout success of Daniels’ NY Towers condominium community in Bayview Village, the builders will host a preview sales event for its latest development in the neighbourhood.
Over 6,000 people have registered to attend the launch of the 15-storey building called Arc, which will be situated on the northeast corner of Bayview and Sheppard avenues, adjacent to Bayview Village Shopping Centre and steps to Sheppard subway station.
“Owing to the prominence of that location, it’s not surprising,” vice-president Niall Haggart says. “People love the aspect of living at Bayview, as opposed to Yonge Street, and they want to be located on the subway line.”
Since Arc will also rest on one of the highest vantage points in the area, its curvilinear glass façade will maximize the panoramic vistas in all 447 suites, Mr. Haggart says. “Looking south on Bayview Avenue will be unbelievable,” he says. “Bayview [Village] has all this pristine nature.”
One of the best views offered at Arc will be available to residents in the eighth-floor amenities area, called Club 8. There will be a two-storey multipurpose room with full-height windows and a south-facing terrace, plus a theatre, games rooms and a lounge with wireless Internet access and a coffee bar.
“People looking to buy a condominium are as much looking for a lifestyle,” explains Mr. Haggart of the young, hip crowd the project aims to attract. “These are really great spaces that are used in a variety of different ways. It’s also an opportunity for socialization and to meet other people in the building.”
On the ground floor, there will be a two-storey aquatic centre with a pool, raised whirlpool and co-ed steam room viewed through frosted glass. A high-tech gym will be even feature boxing equipment.
All these interior spaces will have a luxurious and modern feel, courtesy of Mike Niven Interior Design, which many will first experience in the two-storey lobby. It will have a waterfall feature, wood panelling and textured stone and concrete elements contrasted with stainless steel, backlit glass and stone materials.
On site, there will be 24-hour concierge, an ambassador (for personal assistance with groceries, large deliveries and other tasks) and a recreation co-ordinator.
Suite sizes will range from studios to two-bedroom plus den models, in traditional or open concept plans.
Each condo will have nine-foot ceilings, a balcony and interior bedrooms to allow for expansive windows in the principal room, Mr. Haggart says. “So the whole length or width of the unit takes advantage of this wonderful light penetration.”
Decor will be contemporary, from hardwood floors to en suite bathrooms with cultured marble counters and square sinks. Kitchens will have stainless steel Energy Star appliances, granite counters and porcelain tile or mirrored backsplash. In some cases, there will be islands.
Each unit, except studios, will include parking. The monthly maintenance fee, which includes hydro, will be 43 cents a square foot.
As a bonus, purchasers will receive a package with special offers from local retailers. Details will be unveiled at the preview sales event.
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Contact the Jeffrey Team for more information
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