Tag Archives: upgrade
Toronto Real Estate — Mount Pleasant
by Dan Flomen
One of Toronto’s best-kept secrets is the area surrounding the Mount Pleasant and Eglinton corridor. It has everything one could need, including transportation, entertainment, restaurants, and the security to walk around at night without having to look over your shoulder.
Over 10 years ago, Urbancorp Developments created The Townhomes of 123 Eglinton. Situated between Redpath and Lillian, the project consisted of 184 stacked units developed in an unused parking lot behind the Union Carbide building. It wasn’t the first project in the area, but it did spawn the resurgence of developers looking at this part of town. Tridel followed with the removal of Union Carbide and the creation of a modern condominium, The Tower at 123 Eglinton, catering to both first-time and move-up buyers. Several small builders then bought infill sites and developed them into townhomes and small condos.
Four projects are now under construction in the immediate vicinity. Although each is unique unto itself, all share in the belief that this area is a booming market with much to offer. 900 Mount Pleasant by Plazacorp, Chateau Royal by Panterra Federated Properties, 88 on Broadway by Cityzen and Myriad, and Panache by Stanford Homes will eventually become home to hundreds of new residents.
Situated just a couple of blocks north of Eglinton, 900 Mount Pleasant will have a dramatic visual impact on the surrounding area. Immediately to the east are some of Toronto’s fastest-selling homes, and to the west are a growing number of new projects and the shops of Yonge Street. 900 Mount Pleasant will also incorporate a number of town manors, which will serve to enhance the overall look and quality of the project.
Chateau Royal, located three blocks south of Eglinton, is a higher end condo featuring 97 exquisite suites, many of which are one-of-a-kind. Its stucco exterior and traditional windows will blend in with the shops along Mount Pleasant.
“These suites are better described as bungalows in the sky, with finishes that need not be upgraded. Our purchasers are a mix of first-time and move-up buyers coupled with empty nesters. The one thing they have in common is that they appreciate the small building size coupled with its French charm,” says Michael Tullock, sales representative for Chateau Royal.
88 on Broadway launched with huge success. Its suites not only feature inspiring floor designs, but are also well-priced. Now under construction, the new, beautifully appointed tower will be only minutes to Mount Pleasant and Yonge Street and will appeal strongly to those who either live in the area or grew up there.
“What we are creating is the perfect project for almost all residents of the Mount Pleasant-Eglinton area,” says Sam Crignano, president of Cityzen Development Group. “88 on Broadway is designed to reflect the lifestyle people currently enjoy, but to bring it all under one roof. No need for a health club; 88 on Broadway has one. No need to leave the area to find home ownership. It is now right there on their doorstep.”
Panache, a contemporary building, is located one block west of Mount Pleasant directly on Eglinton Avenue. Its residents will be able to walk out the front door and be on one of the most vibrant streets in the city with restaurants and shops only steps away.
The Mount Pleasant corridor, once thought of as an alternative to Yonge Street, has come into its own. It continues to flourish in this thriving market and it’s an area for both users and investors to keep an eye on.
———————————————————————————
Contact the Jeffrey Team for more information
Incoming search terms
Related posts:
- Condos as the New Toronto Starter Home With property prices in the GTA skyrocketing, 50% of condos...
- Real estate deep freeze now hot thaw Sales in May and early June have outdone May and...
- Toronto Real Estate Forecast 2010 MLS® sales in the GTA will hit a record high...
- Luxury Toronto Condo Living From Lake Ontario to tony Yorkville and out to the...
- Luxury Living: Pick your palace The Regency Yorkville is but one of countless condominiums, townhouses...
Buying New Contruction vs. Resale
When buying a new Toronto area home or condo, keep in mind that the representative you are dealing with at the new home site may not be a licensed real estate agent. The new home representative’s best interest usually lies with the builder and not you. In many cases, the builder will not allow your Realtor to protect your interests or help you prepare the agreement.
The builder’s agreements can be very one-sided in favour of the builder. Did you know that many agreements allow the builder to extend closing by 2-3 months twice, and then cancel the agreement if the house still isn’t built?
Your team of experts cannot fully protect you when buying a new home. For example, your lawyer will not be able to force the builder to sell you a house that’s not there yet. Whereas when buying a resale home, your realtor will be able to negotiate the price, and your mortgage expert will be able to arrange the best possible mortgage for you. If you do decide to buy a new home, try not to get confused with terms like “mortgage-paydowns” that are built into the price of the home.
Remember, your home inspector will not be able to inspect a house that’s not built yet and new homes are not always trouble free.
As a new home buyer you may have to spend money on additional expenses like driveways, decks, landscaping, decorating, recreation rooms, air conditioning and fencing. If you want all of the above without having to go through all the hassles a resale home might be the solution for you.
That said, buying a newly constructed home has many benefits. You will be the first owner of the home. You can choose all your finishes including colours and upgrades of anything from wall colour to floor coverings, kitchen cabinets, etc.
The choice is really up to you if you choose resale or new construction. Resale homes are in established areas, the landscaping is mature, the home will be settled, painted, even re-painted a few times. You may have to consider replacement/repair costs to items like the roof, deck, pool, carpet/flooring, décor etc.
We suggest you decide which you would prefer: new or resale and then go from there. Don’t rule out your realtor who can also advise you on new home construction in your area of choice and will usually know which sites work with realtors and which don’t.
———————————————————————————
Contact the Jeffrey Team for more information
Related posts:
- How to Avoid 10 Common Buyer Mistakes First-time homebuyers face a steep learning curve. There’s much to know,...
- Buying Toronto Real Estate For Resale Things to consider if you are purchasing real estate to “flip”...
- Housing sales bounce back nationwide Almost 150,000 sales of existing houses and condominiums were tallied...
- Tips on buying a resale condo in Toronto Like all real estate purchases, location is a top priority Excerpt...
- Latest outlook shows easing of Toronto real estate prices Genworth Financial Canada report shows good opportunities for first-time homebuyers...
Glas — The epitome of infill condos and lofts in Toronto
A virtual dream team has been working on a new condo development in Toronto – Glas Condominiums. The four individuals behind the design, development and sales are: architect, Peter Clewes of architectsAlliance (Four Seasons, Radio City, 18 Yorkville, Tip Top Lofts); developers Mark Hewitt of Niche Developments (the former VP of Development behind CityPlace and the former executive director of Emaar Properties Dubai), and Walter Harhay (developer of Zen Lofts, Abbey Lane Lofts, 169 and East); and Brad J. Lamb, condo broker of over 80 new projects in central Toronto. These guys know what they are doing.
From the outset, the idea behind Glas Condominiumswas development without compromise. The team wanted to create a landmark infill high rise that would stand the test of time. It would be a modern icon that people would stop to stare at.
“From the start the shape of the site allowed for the creation of the wide-shallow suite, the holy grail of floor plans,” says broker Brad J. Lamb. “These plans are twice as wide as they are deep allowing for maximum glass, which is very rare in the city.
“The development sits in the hot spot of King Street West and Spadina, just steps from the financial district, the theatre district, and the entertainment district,” says Lamb. “Charlotte Street is a quiet street that connects King Street West to Adelaide Street West, so you’re in the heart of the city yet ensconced in a quiet lane. It is a part of the city that feels very much like Soho in New York City; it is one of Toronto’s most exciting developing neighbourhoods.”
Glas Condominiums was conceived to be all about light and glass – essentially it is the epitome of modern architectural design. The nature of small infill-type sites allows for interesting buildings.
The main level of Glas Condominiums has seven lofthouses ranging from 1,250 to 1,500 sq. ft. Ceiling heights soar to 20 ft. high in the living room and are 10 ft. high everywhere else. All lofthouses feature two bedrooms and include an attached parking garage with locker.
“We invented the lofthouses for Glas Condominiums, which are totally unique to Toronto. Buyers really like the two level through designs with private parking, as four homes have already sold,” says Lamb. The second to 10th floors have flats with nine-ft. ceilings ranging in size from 410 to 1,000 sq. ft. The 11th to 16th floors have lofts and penthouses with 10-ft. ceilings ranging in size from 625 to 1,850 sq. ft. “The two-level penthouses have large terraces and spectacular finishes,” says Lamb. “Our penthouses are incredible!
Each has a huge terrace off the living and dining areas. They range from 1,100 sq. ft., two bedrooms to 1,850 sq. ft., three bedrooms.”
The team has assembled a unique array of finishes including Italian-style kitchens, gas cooking, gas on all balconies or terraces, four premium stainless steel appliances, stone counters, premium hardwood floors and contemporary bathroom fixtures and styling. “The finishes at Glas Condominiums are the best I’ve ever seen offered in Toronto. There is truly no need to upgrade,” adds Lamb.
“We did not want to just build an average building.” says Mark Hewitt of Niche Developments. “This is a small infill site that could have been lost to a marginal development; instead we are building something here that is beautiful inside and out. Peter Clewes [architectsAlliance] has outdone himself.”
The development is now 50% sold out and the application for building permit has been submitted with construction to start in the fall. Prices at Glas Condominiums start at $153,900 and run to $904,900.
———————————————————————————
Contact the Jeffrey Team for more information
Incoming search terms
Related posts:
- Condos as the New Toronto Starter Home With property prices in the GTA skyrocketing, 50% of condos...
- Luxury Toronto Condo Living From Lake Ontario to tony Yorkville and out to the...
- Toronto Loft Profile — Fashion District Lofts Fashion district loft project full of innovative spaces The Globe...
- East Lofts meet the rest Toronto should be so lucky to have all its condos...
- Luxury Living: Pick your palace The Regency Yorkville is but one of countless condominiums, townhouses...
