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Coming Soon: The Yorkville

The Yorkville is the latest development from Lifetime Developments. Lifetime has been behind some of the hottest projects downtown over the last several years including X2, The Four Seasons, Victory, BISHA, and Liberty Market Lofts to name a few.

The location is strictly NOYO (North Yorkville), and I suspect the prices should reflect this  (we won’t be seeing $1000PSF in this building).  Still, although it’s on the other side of Davenport, it’s still only about 5mins walk to either Bay and Bloor or Yonge and Bloor, or Yorkville institutions like Sassafraz and Pusateri’s.

The architecture itself I think will polarize, as some will no doubt love it for it’s unique, bold shape, while others will malign it for trying to do too much (investors will only be asking, ‘will it make me money?’).

Amenities will include the usual 24hr concierge, gym and yoga studio, party room, roof top terrace, pool, PLUS some extras like piano lounge and wine cellar.

No pricing has been released yet but I would anticipate something in the $750-$850PSF range for this location (in other words, probably slightly below One Bloor prices). That number may seem shocking, but rest assured that it is well supported by the resale market for Yorkville with units at the nearby 18 Yorkville (by Great Gulf Homes) selling routinely in the $800PSF range (for suites with parking).

Lifetime projects are always HOT when they first release. I expect a frenzy of demand from the investor community, especially for the suites under $500K. For floor plans and pricing and your opportunity to buy at the upcoming VIP sales event, please contact me.

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The Yorkville

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Coming Soon: Nicholas Residences

Coming soon from Urban Capital and ALIT Developments: Nicholas Residences.  Register with TrueCondos.com now for your opportunity to buy before the public launch. Floor plans and pricing available now. Worksheets for units being accepted NOW. Don’t delay, contact me today to buy a unit at Nicholas Residences.

Nicholas Residences will be located approximately at the corner of St Nicholas and St Mary Streets in the Bloor Yorkville neighbourhood. Steps to Yonge Street, Bay Street, The Manulife Centre and the heart of Yorkville, The building will incorporate two historic buildings on St Nicholas Street.

Urban Capital is the developer behind Boutique Condos in the entertainment district as well as River City in the West Don Lands.

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Nicholas Residences

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U Condominiums: Tower 1 58% Sold

U Condominiums by Pemberton at Bay and St Mary’s is one of the projects that probably wishes they had a time machine and could launch their sales just a couple months earlier than they did. They started selling in the fall of last year, just weeks before the stock market crashed and there was a fundamental shift in the Toronto real estate market.

That being said, they are doing pretty well in terms of sales and definitely better than other projects that launched in the second half of 2008. 212 out of 366 units have been sold in the first tower to be released. That’s just under 60% sold. TD bank has told them they need to acheive 70% to secure their financing. That works out to roughly another 45 units to go. Don’t expect to see the second tower released any time soon. I wouldn’t be surprised if they don’t even release it at all in 2009.

Many of the prime units at U are now gone, and prices certainly have increased since the initial launch back in the fall, but there are many units still available. Prices for most are in the mid $600s per square foot. This number may seem high, but it is really not out of line with what is available and selling in the area. My own feeling is that over the long term, the Yorkville area centred at Bay and Bloor will remain one of the preeminent neighbourhoods in Toronto. 

For more information on U Condos, please contact me.

Links

Recent Globe and Mail article on U Condominiums

Developer’s official site

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