Feb 18 update: Floor plans now available. VIP broker event set for March 8. Pricing rumored to be VERY good for this one. Contact me for details on why this could be the best investment pick for King West in 2011.

King Charlotte Condos is another hotly anticipated project from Lamb Developments at King and Spadina. On the heels of the well received Theatre Park development, Lamb and his partner Niche Developments are wasting no time in bringing this one to market. The site will be at 11 Charlotte Street, in between Adelaide and King, across the street from GLAS (one of my favourite buildings in the city and another Lamb project). If you are interested in purchasing a suite at King Charlotte before this project opens to the public, please contact me.

The project will have 230 suites and rise 32 storeys, giving it a distinctly tall and sleek feel. Designed by architectsAlliance, the same architect behind Theatre Park, the building will have ground level retail and rooftop amenities including a rooftop pool. The views from the roof will probably be some of the best in the area and will rival that of the rooftop pool area at BISHA around the corner.

No word on pricing yet, but with GLAS selling as a resale building in the high $500s per square foot, I would anticipate that the average $PSF in this building will likely be around $625, and units facing south on high floors will likely fetch $700PSF.

Pricing Update: 1 bedrooms from $241,900, 1+dens from $327,900, 2 beds from $435,900, and 3 bedrooms from $558,900.

King and Spadina is getting very crowded. Hard to believe that 10 years ago this intersection was condo-free and you’d be hard pressed to find any condo developer looking for land to build here.  Now there are so many buildings within 200m of this intersection either built, under construction, or proposed that it’s hard to say any other area is ‘hotter’ than King and Spadina anywhere downtown.

King street between University and Spadina is clearly poised to become the best area downtown to live for key demographic that is driving the condo market – the young urban professional. Some have dubbed this area Toronto’s next Yorkville, or some kind of a SOHO-type neighbourhood, but it’s more than either of those. It’s really becoming the pulse of the city.

If you would like to receive prices and floor plans for King Charlotte, please contact me.

From the builder:

King Charlotte’s architecture is based on a series of designed boxes, all of different types and sizes.

The boxes stack upon each other, and not necessarily in a fashion that one might initially imagine. The retail box protrudes from the podium box, the tower box appears to teeter and overhang the podium box, and the oversized rooftop amenity box actually does overhang the tower box.

It is all very playful, yet incredibly clean and crisp.

Theatre Park is good to go! After facing much opposition from city council, Lamb Development has received approval from the OMB to build this tower. The tower of glass and steel, designed by architectsAlliance, is to be 47 storeys tall with 240 units and prices will start from $299,900. Brad Lamb never seems to release pricing before the day of the actual sales event, but I anticipate prices will be in the mid $600s Per Square Foot on average. Floor plans are available now.

Brad Lamb’s other (now completed) building in this area is Glas, located on Oxley street, near King and Spadina. Glas commands some of the highest resale values in this area and whenever I show buyers suites in this building, there is an almost universal appeal and ‘wow’ factor to the suites. Perhaps more than any other developer downtown, Brad Lamb delivers what buyers want.

Located at 224 King Street West, just east of the historic Royal Alexandra Theatre, I’m not exaggerating when I say the location is A1. Having a King Street address will be very valuable from an investment perspective as this area continues to improve and possibly become the ‘next Yorkville’. Traffic flow, transit lines, and retail patterns will all contribute to positioning King Street as the premier street in this area. The ‘King Street Factor’ should not be overlooked when comparing Theatre Park with other area developments.

The building itself promises spectacular architecture and will be set-back from King Street in order to incorporate a public park fronting onto King Street. I don’t have details on how this will be executed but hopefully it will be done with care as it has potential to be either awkward or amazing in my opinion.

The one-night-only VIP brokers’ Sales Event is happening November 22. Contact me for further details and your chance to buy at this project before the public release.

From the outside, this new project looks like your standard stacked-townhouse design that can be seen all over the city, a more traditional brick-based architecture that will likely fit into the existing area just fine. But the insides of the units are sounding very modern and edgy, with features that Brad Lamb’s projects are known for: gas cooking, euro-kitchens, stone counters, 9′ ceilings (never seen this before in stacked towns), and a generally clean-lined aesthetic.

I’ve said before that Riverside is a neighbourhood to watch over the next few years. I really think this area around Queen and Broadview as all the ingredients to be the next King West. Details are very limited on this project right now but likely units will sell quickly at Monday’s sales event regardless.

1. Bisha. This one could be special, but it certainly won’t be cheap. I’m hearing pricing will start in the high $600s and go up from there. I’ve also heard that the lifestyle component of the building will be something unique in Toronto.
2. One Park West. I’ve already seen some of the plans for this newest release in the Regent Park redevelopment by Daniels coming up in September and it looks very interesting. One unique aspect are the stacked townhomes that are probably the best floor plans for stacked towns I’ve ever seen.
3. River City Phase 2. Phase 1 launched late November of last year. At last check they were well over 70% sold. Those who doubted this development because of its location will likely have to strongly consider investing in phase 2 after the success of phase 1.
4. Studio on Richmond. Not many details available yet on this project but great location in the heart of the Entertainment district and the developer (Aspen Ridge) has offered good value to investors in the past with projects like VU on Adelaide Street East.
5. Post House. Right next to the VU site will be Post House by Alterra. The proximity to the booming St Lawrence Market ‘hood has many of my clients drooling with anticipation. This one has just released floor plans and pricing for the VIP event. Contact me for details!

Other projects on my radar screen for the next 3-6 months include:

• Plazacorp‘s site at Yonge and Wellesley (project name TBA, location very intriguing)
• Imperial Plaza (office building conversion at Avenue and St Clair by Camfrost Felcorp)
• Cityzen’s “Name this condo” site at Yonge and Esplanade
• Brad Lamb’s Theatre Park site (what height/form will be approved?)
• Daniels Cinema Tower (follow up to Festival Tower)

Wondering how to keep track of the latest and greatest condo projects downtown? Hire me as your downtown condo expert today.

The City’s love/hate affair with tall buildings continues. Toronto is one of most high-rise friendly cities in the world, with more projects proposed, under construction, or recently completed than just about every city in the developed world. Still, developers face an uphill battle when looking to build ‘up’. Last week, two condo project proposals were rejected based primarily on the fact that the proposed towers were too tall.

Giraffe Condos at Bloor and Dundas (27 Storeys, TAS DesignBuild) had their project rejected at the OMB, and Theatre Park at King and University (45 Storeys, Brad Lamb) had their project rejected by City Hall. Both decisions were focused on the height of the buildings making them ‘out of context’ for the area they would occupy.

On the surface, the news for Giraffe is potentially worse than for Theatre Park, as once a project is rejected at the OMB level, there is no higher authority for developers to appeal the decision in front of. Brad Lamb can and likely will take their case directly to the OMB as the city is unlikely to concede what they are seeking (45 storeys).

No word yet on what will happen to purchasers at Giraffe, or whether TAS will appeal the OMB’s decision. The future of what would have been a landmark condo tower and potential neighbourhood changer is definitely in doubt. Giraffe has been selling units for about 2 years. Theatre Park has not opened a sales office or started marketing the project in any way, but word on the street is they have been selling units to insiders since the fall.

While I am by definition in favour of more high-rise development downtown, and especially on the subway lines, I believe there is a case to be made for ensuring our condo towers fit into the context of their surroundings and do not adversely affect the street life at the ground level.

To follow some of the discussions on Giraffe or Theatre Park, check out the UrbanToronto.ca message boards.

Questions or comments on these projects? Leave a comment or email me directly.

I’ve spent a lot of time in the building lately as I have a couple of clients who are keen on the building. The suites are impressive and already Glas is commanding one of the highest price-per-square foot values in the area (King and Spadina). I expect resales to be in the mid $500s for most suites in the weeks ahead.

Today there are already about a half-dozen suites that have hit the MLS system as standard resale properties (building is registered, owners can sell and advertise at will).

This building is the first completed project under Brad Lamb’s development company.  Features like 9′ exposed concrete ceilings, extra large balconies (on some units) with gas lines, stainless steel appliances including gas cooking, granite counters, sliding barn-style doors, laminate floors throughout, floor to ceiling glass-wall construction, and ultra-modern design details – these are all features buyers of Brad Lamb’s projects have become accustomed to.

If you are a unit owner at Glas and are thinking about selling, or if you are a buyer interested in the building, contact me here.