COLLEGE
& BAY CITY’S NEWEST HOT RESIDENTIAL CONDO COMMUNITY
Charles Hanes
January 9, 2008
They are calling it Yorkville South, which in itself carries a potential dichotomy.
I’m not really an ideal candidate as a Yorkvillian, although I do agree that
historically Yorkville has offered some of the best condo addresses.
If you like the glitz and glamour that the city has to offer, Yorkville offers some
impressive alternatives with new Five Star presales such as Museum House (conceivably
“the best the city has to offer and certainly one of the best“), 1 St. Thomas, (one of the most
impressive residential condo buildings architecturally in the city) 155 Cumberland, The Four Seasons, The Regency, Minto’s St. Thomas, 77 Charles, The Yorkville
area does have a lot to offer. You will find all of the city’s most trendy
restaurants and designer shops located in what is “Toronto’s Rodeo Drive”.
None of the presale condos listed above run below $1,000 per square foot (there may be a
few smaller no view suites in the $800 range). Most of them have residences remaining so
if you are fortunate enough to be in this price point, please let me know and I’ll
send you an up to date availability of units available.
There is a string of older established top end residences, many of which having been
upgraded and renovated over the years like Windsor Arms, Renaissance Plaza, Prince Arthur, Renaissance Court, 4
Lawther, where you can buy upscale residences in the $800 - $1,000 per square foot range.
For me there just too much glitz and glamour. I’m not a very public person and all of
the Lambourgini’s roaring around and serving as food candy for all of the tourist and
celebrity stalkers cramming into the local dining and wining establishments. Oh, you will
see all of the stars that come to the city in Yorkville and if designer wear is what turns
your crank then you will love Yorkville.
It’s an exciting and vibrant part of the city but for me, it does not offer the
rather reclusive lifestyle that I seek.
One would think that a reclusive lifestyle would conflict with the downtown core condo
lifestyle that I demand but fortunately, a very unique opportunity presented itself to me
a couple of years back when I saw the College Park area starting to be rejuvenated.
The area, anchored by the original Eaton store, a landmark in the city had long been
envisioned as a residential infill area but the plans had become cold cases when the
market collapsed in the late 1980’s. In the past six years the area has come alive
with a number of high density developments. Nothing revitalizes an area like high density
condos as they bring higher numbers of people thus business enjoy financial benefits and
new ones pop up.
I had the opportunity to work with the developer on a very unique collection of upscale
townhouses proposed by them to be built into a beautiful private park (it’s actually
a public park that is maintained by the city but it’s private from the hustle and
bustle of the city).
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In the short while
that I shared my expertise with this developer on what would be needed to qualify these
townhouses as superior, I observed a virtually explosion in condo choices in the area. The
Met, a two tower plus stacked townhouse development immediately across the street from
College Park at Yonge and Carlton (College changes at Yonge St. to Carlton) introduced
hundreds of new residences to the area. College Park brought two 50+
storey towers. Lumiere sold out virtually over night, as did the Met and College Park.
Just north along Bay Street came a two tower middle market development called Murano and now it’s sister
development across the street on Bay “Burrano” rounds out a serious
influx of new residents to the area, all within a single city block!
The strengths of this area is that it’s “not Yorkville” from my
perspective. No Lamborghini’s (so far) cruising in circles and/or celebrity gawkers,
yet all of the shops, restaurants (Elm Street also has many of the city’s top dining
alternatives).
The gold mine in the city proved to be the twelve luxury townhouses that have just or are
just being completed IN THE PARK at College Park. When I say the developer had me help
design them I don’t suggest having any architectural training or skill but I do know
what sells and what doesn’t sell and they respected that. I’m an in-the-street
guy and you can always find out more in this business from what people are saying in the
street over all of the academic prowess that can be brought to bear.
I simply know what buyers are looking for because I have a database full of thousands of
buyers all over the world many of whom are global real estate investors. It wasn’t
difficult for me to come up with what worked as I was buyer number one having looked for a
townhouse for years.
Townhouses in Toronto are not inexpensive. With condos running from around $600 per square
foot (Festival Tower) to $800 per square foot at (Pier 27) for upper middle market
condos and up to $1,500 per square foot (Four Seasons) to be able to buy a quality three
bedroom plus den townhouse, right in the downtown core of the city of approximately 2,200
square feet around the starting price for middle market condos seems like a deal to me.
The magic about these condo town homes is that they do NOT SIT ON A STREET! What, no
street noise, you know those incessant sirens in the night? That’s right! These 2,200
square foot condo townhomes are on the park, and are buffeted from street noise with two
residential towers (College Park). The views are trees and a lovely operating fountain
(summer) that converts to a skating rink in winter. The country in the city you might say!
Photos, Floorplans
The elements that I added were, I felt critical. Number one, they had to be built of
poured concrete. Hollow wall construction simply allows noise transfer that is
unacceptable when someone is spending over a million dollars. The ceiling height on the
main floor (living room, dining room, kitchen) had to be ten feet high with oversized
doors with formal trim. There had to be outside space (how’s three decks) and private
parking downstairs (not accessed through the massive parking of the high rises).
Quite simply stated, thanks to Canderal Stoneridge’s willingness to meet the criteria
that I set out for them, buyers will be moving in at the end of February 2008! If you are
looking for a quality 2,200 square foot townhouse (condo townhouse thus giving you full
maintenance and extensive recreational facilities) priced in the $1,450,000 - $1,500.000
range I’m sure that a couple of these units will be for sale so contact me today and
you’ll be first to have a look. Photos, Floorplans
That’s it for now. I’ve gotta run. I’m Charles Hanes |
