Tag Archives: solid investment
Real estate in Toronto is the real deal
Stephen Dupuis – Toronto Sun
When the world’s most influential leaders gathered in Toronto for last weekend’s G20 summit, I couldn’t help but wonder how they view our city’s economic structure, particularly the housing market’s impact on the national economy, assuming of course that they can see anything over the fences and barricades.
While I’m not an expert on the real estate industry in China or Saudi Arabia, I can bet that their housing markets differ considerably from that of Toronto.
Solid investment
So much, in fact, that it’s no wonder that a lot of the new developments in our city are viewed as solid investments in countries in Europe, Asia and the Middle East.
While some international buyers can invest in multiple properties in their home countries, many opt for the much more affordable option of investing in new homes in Toronto.
Foreign investors see the value of having a healthy, stable Canadian housing market.
In fact, I wouldn’t be the least bit surprised if some of the attending finance ministers might be tempted to snap up a penthouse or suite in the downtown core.
Pricing is affordable, while construction-related job creation is averaging around 170,000 per year over the last five years in the GTA alone.
Tax bonanza
In fact, by the end of this year, the federal and provincial governments will collect $4.5 billion in tax revenue thanks to the housing industry, which is no small potatoes no matter what country you’re from.
I expect that number to grow with the newly implemented Harmonized Sales Tax (best known as the HST) taking effect next Thursday.
Despite the financial impact this tax will have on new home buyers, the demand was still strong as buyers snapped-up 3,004 new homes and condominiums in the GTA in May.
While I don’t know how many of these purchases were made by foreign investors, I can tell you that some of the newly launched high-rise developments in the city have surely garnered some international attention.
Among world’s best
This is evident by the tremendous outcome of this year’s National Sales and Marketing Awards in Las Vegas, where Toronto home builders picked up 25% of the awards, overtaking a predominantly American roster among other international nominees. This just goes to show you that our industry can take on the best in the world and still come out on top.
Where other countries have struggled, Canadians have flourished and despite what some sources will tell you, expert analysis has shown that there is no bubble on the horizon.
A strong recovery from the global financial crisis a few years ago was a sturdy indicator that our housing industry is well regulated to a point that it can survive an economic decline and bounce back relatively quickly, leading the way to a stable economy.
Healthy relationships
Organizations such as the Canada Mortgage and Housing Corporation, Tarion Warranty Corporation and BILD have a healthy relationship with industry leaders and various levels of government to ensure a good work ethic. The end result is a housing market that provides a positive impact to not only the economy as a whole, but to all parties involved. This weekend’s guests better take note!
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Contact the Jeffrey Team for more information - 416−388−1960
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One Bloor will be a bold, futuristic building
Tony Wong – Yourhome.ca
If anything kept him awake at night, says David Gerofsky, it was an overwhelming sense of responsibility.
“This is a larger-than-life project, and there were a lot of expectations,” said Gerofsky, president of the Great Gulf Group of Companies.
“So we had to do it right the first time.”
Gerofsky is talking about One Bloor. The mixed-use project at the intersection with Yonge St. has been the site of controversy since the original developer, Bazis International, became a poster child for the global economic meltdown last year.
“There is only one Yonge and Bloor. It’s not just the most important corner in the city, it’s probably the most important corner in the country,” Gerofsky said in an exclusive interview with the Star.
In advance of a Thursday news conference, Gerofsky talked about his company’s plans for the hotly anticipated project, and how he says it will transform the city.
The Star had a sneak peek at new renderings of the 65-storey, mixed-use building. They show how it will relate to the intersection upon completion – now estimated at the end of 2014.
The bold, futuristic building will feature a series of undulating curves designed by Hariri Pontarini Architects. The design is striking: More fluid and prettier than the original tower plans, but perhaps destined to create its own controversy over whether it fits into the landscape.
Interiors are by Toronto firm Cecconi Simone Inc., known for its cutting-edge style. Janet Rosenberg, one of Canada’s foremost landscape architects, is responsible for outdoor landscaping.
“We knew we had to get the design right – this had to be an iconic and special place,” said Gerofsky.
“This will be the most luxurious building in the city. We are sparing no expense.”
Instead of a hotel, as originally planned, pedestrians will be met at street level by 100,000 square feet of retail space. “I’m not convinced that the city needs another hotel,” said Gerofsky.
Retail space has not yet been rented, Gerofksy said, but sources say Apple Canada is one possible candidate anxious to get a foothold on pricey Bloor St.
“We have had a lot of interest from major international retailers, some of whom are not even in Canada as yet, but we’re thinking about it closely because this is our front door,” said Gerofksy.
Amenities on floors six and seven will be extensive, with 27,000 square feet of space for residents.
The sixth floor will feature a spa with treatment rooms and steam suites, and will have an outdoor terrace and bar. The seventh floor will house two pools, a fitness room and 19,000 square feet of outdoor space – a rare amenity for condos without a hotel component.
The building will not be Canada’s tallest residential tower, as Bazis had planned. The original 1 Bloor had 80 storeys and 801 suites, including 132 hotel suites. The new One Bloor (Gerofsky decided to delicately rebrand the project by spelling out the number one) will have 690 suites.
When units of the original 1 Bloor went on sale in 2007, people lined up for days to get inside the sales office. Prices kept changing as people waited in line, and the experience seemed to mirror a frenzy that characterized the market at its peak. The penthouse reportedly went for $25 million.
Prices for One Bloor will run from $390,000 to more than $1.5 million for units ranging from 530 to 1,724 square feet. That’s far above the $435-per-square-foot average for new projects in 2009, according to Urbanation Inc., but not out of line with luxury condominiums on the market today.
Former buyers of 1 Bloor will get a crack at the new suites before they go on sale in mid-April.
Great Gulf officials say there has been good response from the original 490 buyers who had placed about $70 million in deposits with Bazis.
That Kazakhstan-based developer ran into trouble after its banker, Lehman Bros., became insolvent during the 2008 financial crunch. It sold the property to Great Gulf in August. All original buyers have since received their deposits back.
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The sales center is scheduled to open in 3 weeks, however I have an exclusive invitation to beat the rush and reserve units for my preferred clients. The day after this pre-sale event prices will go up so if you are interested call me immediately.
I believe that this is an incredible opportunity. Whether you are interested in having a Yorkville address of your own or looking for a solid investment, this is definitely an opportunity to seize.
This is a high profile address – Bloor & Yonge is the heart of Yorkville, with access to the TTC, shopping and the best restaurants in the city.
This unique early access to pre-sale, guarantees that my clients will have advance choice of the most prime units available. I strongly urge you to contact me at your earliest convenience if you are interested, as floor plans and prices will be available soon.
Please feel free to forward this note to your family, friends or colleagues who may also be interested as this is truly a rare opportunity.
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Contact the Jeffrey Team for more information - 416-388-1960
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One Bloor — Toronto
Great Gulf’s newest condominium unveiled
Today, David Gerofsky, President and Chief Operating Officer of the Great Gulf Group of Companies, unveiled the details of One Bloor – Great Gulf’s flagship 65-storey condominium to be located on the southeast corner of Yonge and Bloor Streets in Toronto.
This new address situated at the gateway to Bloor-Yorkville has been designed by a world-renowned team comprised of Hariri Pontarini Architects, Cecconi Simone Inc., and Janet Rosenberg + Associates, landscape architect and urban design, with construction by Tucker Hi-Rise Construction Inc. and sales by Baker Real Estate Incorporated. One Bloor will include 690 suites and a proposed 100,000 sq. ft. of prime retail space along Yonge and Bloor and on the concourse level, plus year-round contemporary amenities that will create an environment that encompasses wellness, fitness and pampering amid the ultimate urban backdrop.
One Bloor will become the landmark for this major intersection, and residents will benefit from direct access to the two subway lines that converge here. “One Bloor will be a significant addition to Toronto’s urban landscape,” David Gerofsky said. “Great Gulf is proud to add this condominium to our portfolio, which includes a roster of multi-award-winning buildings that complement their locations with outstanding architecture. One Bloor takes our mandate for leading-edge design to the next level.”
The One Bloor design team’s shared vision is to offer something different, unique and balanced. According to David Pontarini, Founding Partner, Hariri Pontarini Architects, “Yonge and Bloor is ‘centre ice’ in terms of Canadian real estate. One Bloor respects the urban fabric of the area with its simple silhouette that is sensuously sculpted with piano curves to evoke a warm modernism that is organic and timeless. The curves carve an undulating silhouette in the window glass along the base of the podium.
From there, the residential floors terrace back to soften the impact on the streetscape, and the curves create a continuous visual flow as they rise up the tower. Balconies are configured to maximize views, and suites are infused with natural light from massive windows. Great Gulf has created some of the most striking condominiums in Toronto, and with One Bloor, they have raised the architectural bar once again.”
The organic feeling continues in the Cecconi Simone-created amenities situated on the sixth and seventh floors. Anna Simone, Founding Partner, Cecconi Simone Inc., explained, “What we have achieved is beautiful and spectacular. This one-of-a-kind facility has an intimate relationship with the architecture and landscaping. The spa-like space will engage all the senses through the sights, sounds and smells of nature, and invites residents to reach a state of true relaxation.
Every inch has been carefully thought through and designed so that the person experiencing the environment feels pampered, while reaching a relaxed state of mind. The transition from indoors to outdoors is seamless, and speaks to people’s fantasies and dreams. From the lobby to the common areas and the understated luxury of the suites themselves, this building is true to the five principles of design: scale, proportion, rhythm, harmony and balance.”
One Bloor’s landscaping creates a vibrant synergy that sings with appeal. “This is a building with real heart and soul,” said Janet Rosenberg, Founding Principal, Janet Rosenberg + Associates. “Our landscape plan took inspiration from the sculptural curves and organic lines of the architecture and amenities. On the seventh floor terrace, a body of water weaves through the interior and exterior spaces, connecting both areas physically and rhythmically.”
“We created a vibrant artificial landscape that mimics natural forms. The terrace feels lush and green, complemented with canopy structures for protection from the elements. This, coupled with a curved steel exterior fireplace makes for an environment that residents can enjoy throughout the year. There are few places in Toronto that offer this level of outdoor activity with views of the city.”
“One Bloor is one of the most anticipated residential buildings of the decade, and will offer a fabulous opportunity for the most discerning of purchasers,” said Barbara Lawlor, President, Baker Real Estate Incorporated. “The architecture is incredible, the amenities are extraordinary, the finishes are exquisite, and Great Gulf’s reputation for service and quality is impeccable. And of course, the location is superb. One Bloor is clearly one of the most prestigious addresses in Canada, and we expect an enthusiastic sales response.”
“Buyers will also reap the benefits of topnotch construction technology,” said Michael McGrath, President, Tucker Hi-Rise Construction Inc. “One example is the Building Information Modeling system that uses state-of-the-art 3D software to seamlessly bridge communication among the architectural, engineering and construction disciplines. Beyond that, Tucker Hi-Rise has added a fourth dimension of time and logistics and a fifth dimension of cost, in order to increase productivity and improve quality even more.”
The one-bedroom, one-bedroom + den, two-bedroom, two-bedroom + den designs at One Bloor range in size from 530 to 1,724 sq. ft. and will be priced from $390,000 to over $1,500,000. Monthly maintenance fees are estimated at $0.50 per square foot. First occupancy is slated for December 2014.
FACT SHEET
Great Gulf is poised to introduce One Bloor, the company’s newest flagship condominium that will raise the bar for outstanding architecture in Toronto.
The Location
- Southeast corner of Yonge and Bloor Streets; the gateway to Bloor-Yorkville
- An iconic global address steps from high-fashion boutiques and designer shops, such as Holt Renfrew, Cartier, Prada, Hermes, Gucci, Chanel, and Louis Vuitton
- Walk to the Royal Ontario Museum, hundreds of restaurants, cafés, services and more
- Direct access to both the Bloor and Yonge subway systems
The Building
- Designed by Hariri Pontarini Architects, One Bloor will rise to 65 storeys and offer 690 suites
- The neighbourhood will benefit from the proposed 100,000 sq. ft. of prime retail space
- Concourse level shopping will be below grade, and retail in the first two storeys of the podium will front along Yonge and Bloor
- The next levels of the six-storey podium will offer grand residential terraces
- The spa-inspired amenities are situated on the sixth and seventh floors, with spectacular outdoor amenity terraces on the roof of the podium
- Balconies are configured to maximize views, and suites are infused with natural light from massive windows
- 24-hour Concierge Service; Resident Superintendent for on-site maintenance
- Underground parking with security monitored from Concierge station
- Visitor parking for cars and bicycles
- Custom-designed high-speed elevators
The Amenities
- Over 27,000 sq. ft. of Cecconi Simone-designed resort-inspired amenities on the sixth and seventh floors, plus an additional 19,000 sq. ft of outdoor amenity space on the seventh floor by Janet Rosenberg + Associates, landscape architecture and urban design
- The sixth floor includes a large spa area with three treatment rooms, plus separate his and hers cold plunge, hot plunge, jet massage, experience showers, Laconium and Tepidarium steam suites, ice fountain and change rooms. On this level, there are also outdoor terraces, lounges (one a look-out fireplace lounge), a sculpture garden, bar, dining room, caterers’ kitchen, and a billiards room
- The seventh floor amenities area will have two pools: a year-round indoor/outdoor pool and an outdoor pool, beautifully landscaped outdoor terraces with fireplaces, spa/hot tub, foot baths, state-of-the-art fully equipped fitness cardio rooms, kinesis/Pilates room, yoga/spinning room, steam rooms, change rooms, plus carefully crafted relaxation areas
The Suites
Features and finishes will be available in Silver (floors 8 to 38), Gold (floors 39 to 59) and Platinum (floors 60 to 65)
- One-bedroom, one-bedroom + den, two-bedroom, two-bedroom + den
designs from 530 to 1,727 sq. ft.
- Luxurious Silver appointments include approximately 9-foot ceilings; pre-engineered hardwood flooring throughout; gourmet kitchens with 27″ Blomberg stainless steel fridge, 30″ black ceramic glass cook-top, built-in 30″ stainless steel oven, built-in stainless steel microwave, 30″ slide-out hood fan, Cecconi Simone-designed cabinetry (all drawers with soft close drawer system), pull-out two-bin recycle system, choice of granite or Corian(R) countertop, single-bowl stainless steel under-mount sink with contemporary polished chrome faucet, porcelain tile backsplash, Cecconi Simone-designed island with display niche, prep area in granite or Corian and Corian eating table with an integrated trough for ice, candles or growing herbs; ceiling-mounted track lighting complete with pendants over island (as per plan), stacked brand-name 24″ white washer/dryer; master/main bathrooms with Cecconi Simone custom-designed cabinetry and custom-designed Corian sink with polished chrome wall-mounted faucet; and unique mirrored wall cabinet above vanity; white soaker tub (as per plan); polished chrome accessory package; frameless glass shower enclosure (as per plan); emergency voice communication system, smoke, heat and carbon monoxide detector; future technology-ready high-speed Internet access; rough-in for future suite security; and pre-wired for cable, TV and telephones (as per plan)
- Among the Gold and Platinum added features and finishes are solar screen window coverings in kitchen, dining, living areas (as per plan); blackout screens in master and second bedroom (as per plan); Sub Zero 27″ fully integrated fridge/freezer, Wolf 30″ glass cook-top; Wolf 30″ built-in stainless steel self-clean convection oven; Asko fully-integrated dishwasher with stainless steel interior; Sub Zero 24″ built-in 46-bottle wine fridge with glass door; Sub Zero 24″ built-in fully integrated under-counter bar fridge/freezer; upgraded pre-engineered hardwood flooring throughout, stone/glass backsplash; main bath porcelain floor tiles or choice of marble floor tiles; rough-in for future window covering automation; and Introductory Home Automation System
The Team
- Builder-Developer: Great Gulf
- Architects: Hariri Pontarini Architects
- Interior Design: Cecconi Simone Inc.
- Landscaping: Janet Rosenberg + Associates, landscape architecture and urban design
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The sales center is scheduled to open in 3 weeks, however I have an exclusive invitation to beat the rush and reserve units for my preferred clients. The day after this pre-sale event prices will go up so if you are interested call me immediately.
I believe that this is an incredible opportunity. Whether you are interested in having a Yorkville address of your own or looking for a solid investment, this is definitely an opportunity to seize.
This is a high profile address – Bloor & Yonge is the heart of Yorkville, with access to the TTC, shopping and the best restaurants in the city.
This unique early access to pre-sale, guarantees that my clients will have advance choice of the most prime units available. I strongly urge you to contact me at your earliest convenience if you are interested, as floor plans and prices will be available soon.
Please feel free to forward this note to your family, friends or colleagues who may also be interested as this is truly a rare opportunity.
————————————————————————————————————
Contact the Jeffrey Team for more information - 416-388-1960
————————————————————————————————————
Incoming search terms
Related posts:
- One Bloor will be a bold, futuristic building The original 1 Bloor had 80 storeys and 801 suites,...
- Luxury Living: Pick your palace The Regency Yorkville is but one of countless condominiums, townhouses...
- Condos as the New Toronto Starter Home With property prices in the GTA skyrocketing, 50% of condos...
- Luxury condos create mansions in the sky Toronto's super-luxury condo market has blossomed in recent years, even...
- Luxury Toronto Condos $20-million for an apartment? Today, Toronto’s wealthy are aiming high By...
