DNA3 is just about ready for launch, but I have been granted VIP access to the project in advance of the wider openings later this month. If you are interested in getting a unit at this project, contact me right away for your best opportunity to buy.

Details on the project are now in. Standout suite features include:

• Built-in, integrated stainless steel European sized appliances including: fridge, range, microwave, range hood (very sexy)
• Engineered hardwood throughout including bedrooms and dens (say good bye to carpet forever!)
• All bedrooms have windows – no ‘buried’ bedrooms without windows in the building!
• Exposed concrete 9′ ceilings
• Balconies or terraces on all units

Exciting building features include:

• 6000 square feet of retail on the ground level including one very exciting anchor tenant (TBA)
• 3 outdoor roof-top terrace areas including a Las Vegas/South Beach inspired “Misting Station” (HOT!)
• Massive gym, multiple party rooms, yoga room, business centre, theatre room (very extensive amenities)

King West has arrived as one of the premier neighbourhoods downtown. DNA3 offers amazing value for the location and features/finishes of the building. Definitely a winner and TrueCondos.com approved investment opportunity. For details, please contact me.

Canderel Stoneridge, the developer behind College Park Residences 1&2, AURA, and DNA 1&2. DNA3 will be located at 1030 King Street West,on the north side of the street where the former Chrysler dealership buildings still stand. (Google Streetview link).

Units at DNA 1 and 2 are currently selling in the $500+ per square foot range. A fully upgraded terraced unit with parking just sold for over $600 PSF. No official word yet, but I am expecting prices for DNA3 to be starting around $500 PSF.

Canderel Stoneridge has been increasingly taking to the social media airwaves to promote and market their projects and already have a very active Facebook page as well as a Twitter account for DNA3. They recently sponsored a major event in conjunction with Fashion Week. They have definitely started the marketing push early as they are not launching this project until around March 2010.

For more information on DNA3 including details on any upcoming VIP sales event opportunities, please contact me and bookmark this page for updates.

Just for fun, check out this info sheet from waaay back in 2002 when the first phase of DNA was launched. Check out the prices and see how the condo market has boomed over the last 8 years!

There may be bad news in the months to come, but this post is about some positive news from Canderel Stoneridge – the developer behind College Park 3: Aura. There is an application in with the City of Toronto for a lane closure on Gerrard Street at Yonge Street commencing in January and lasting for 57 months (nearly 5 years).

This is a good sign and presumably it means that construction will commence around January/February of ‘09. If it did, that would be less than 1 year since sales started on the project which is actually quite fast for a new development of this size and magnitude. 

My own opinion is that the financial crisis will delay far more projects than it actually cancels. Developers who have sold 50+% of their projects will be loathe to simply abandon them due to a temporary downturn in the availability of credit. I do expect occupancy dates for many pre-sold condos not yet under construction to shift forward significantly as the developers will all have to ‘wait in line’ to get money from the bank before they can start building.

Special thanks to the good folks at UrbanToronto.ca for the tip on this news about Aura. 

For more information on College Park Aura, including current availability and pricing, please contact me.

Downloads:

PDF of the Staff Report for the lane closure

PDF map showing the lane closure

Welcome to your online guide to “The Best Penthouse in Toronto“. In this installment I will be profiling the penthouse suites at College Park III: Aura.

College Park Aura was one of the hottest new condominium launches ever in Toronto. The 75-storey building sold out so quickly when it launched back in March of 2008 that Canderel Stoneridge could probably have sold two of these mega-towers if it had the land to do so.

Now this month finally comes the release of the penthouse suites. At Aura, the ‘lower’ penthouses will occupy the 72-74 floors, with 4 units per floor, and the entire 75th floor will be one gigantic unit-probably the largest penthouse in the city at 12,000 square feet.

Developer: Canderel Stoneridge. One of the most respected builders in the city. Already built and completed Phase 1 and Phase 2 of College Park and the results are very good. Phase 3 will take it up a notch and the Penthouses are going to be yet another level still.
Penthouse Pricing: $17.3M for 12,000 sq ft. Entire 75th floor. Approximately $1440 per square foot
Sub-Penthouse Pricing: $3.36M for 3055 sq ft (largest sub-penthouse suite), 4 suites per floor (2200-3000 sq ft), floors 72-74. Starting prices per square foot for the sub-penthouses range from $900-1100 per square foot.
Key Features: Individual direct elevator access to Penthouse, 12′ ceilings, Miele and Sub-zero appliances
Notes: The penthouse suites at College Park 1&2 are available for private tours to prospective buyers of the Aura penthouses-contact me for more information.
-6 parking spots are included in the purchase price of the Penthouse
-The building will be connected to the subway and the PATH network via a future expansion from Dundas to Gerrard
-There are dozens of shops and restaurants located in the College Park complex including a 24 Hour Dominion grocery store
-Occupancy: Spring 2012

Potential Negatives: Many small units in the building-as small as 532 sq ft, high % of investors who purchased in the building. Also, it could be argued that the location of the building is not in a prime neighbourhood.

Latest News: There is the possibility that 10 more floors will be added to Aura, bringing the total up to 85 storeys and if this happens, the penthouse suites would all be increased in height by 10 levels at no extra charge to the purchasers.

Links & Downloads:

• Click here to download the College Park 3: Aura penthouse floor plans and features.
• To see the floor plans for the sub-penthouses, visit the developer’s official website.

For more information, or if you would like to arrange for a private tour of the already completed penthouse suites at College Park Phases 1&2, please contact me.

The Best Penthouse in Toronto Series:

• Four Seasons Yorkville Penthouse
• Shangri-La Penthouse
• The Residences of the Ritz Carlton Penthouse
• 1 Bloor Penthouse

These luxury townhomes are truly one of a kind in the downtown core. Canderel only made a few of these as part of the award winning College Park development at Bay and College. A select few will be available for resale this spring. Most of these exquisite townhomes have never been lived in and are available for immediate occupancy.

These 3 bedroom, 2000 square feet townhomes will not last long. Prices will be in the $1M plus range. Please contact me asap if you are interested in purchasing one of these rare properties at College Park.

The VIP period is over. The broker’s event basically sold out the building in a matter of hours. See more on the broker’s event on my last two posts over at blogTO.com. But does that mean there are no suites left? NO! THERE ARE STILL SUITES AVAILABLE AT AURA!

All of the suites currently available are on the executive level floors (56 and higher) and are starting at around $500-600K for 1+dens. The executive level suites are entirely upgraded from top to bottom and are in fact, a separate condominium altogether from the lower floors. Canderel has done something quite unique in separating the lower and upper floors into what will eventually be 2 condo corporations within 1 building. An interesting fact: the maintenance fees are much lower  on the executive levels than the lower levels (33 cents per square foot versus 49 cents on the lower), although the prices are much higher due to the various upgrades. If you are interested in purchasing an Executive Level suite at Aura, please contact me.

So what is next? Next up is going to be the highly anticipated PUBLIC LAUNCH. Yes, they have held off specific floors for the public launch. However, they have not held off very many floors. They have not announced the date of the public launch, however, it will likely be either the first or second Saturday in April. As soon as the public launch date is announced I do expect there will be a line up of agents once again at the door of the sales office. They will once again wait for days and days to get their shot at buying a unit.

What will the prices be at the public launch and what suites will be available? Those questions are anyone’s guess. We will have to wait and see what happens.

If you are still interested in purchasing a suite at Aura, please contact me to discuss the best strategy for getting you the unit you want.

What is the deposit structure on this project?

The deposit structure will be as follows:
$5,000 with offer
Balance of 5% in 10 days
5% in 90 days
5% in 180 days
5% in 360 days
5% on Occupancy

How much for parking and locker?

Parking spots are $35,000 and lockers are $5000.

Are there any restrictions on parking?

Yes. Only units sized 700 square feet or more are eligible for parking.

When is the expected occupancy date?

June 2012

Have more questions? Contact me now.Click here for ALL related posts about College Park 3: Aura.

Contact me now for floor plans, availability and PRICING!

Once again, sales to the general public will not begin for several weeks. Whether you are a seasoned investor or first time buyer, the best time to buy in a new development like this is at the very beginning-before prices go up and the best suites are gone. Contact me for more information or to reserve your suite of choice ahead of the crowds that are sure to line up for this project.

College Park Phase 3: Aura is without a doubt the most anticipated new condominium project in Toronto since 1 Bloor. I have been accepting pre-registrations for the VIP sales event for this project for quite some time now and I have some good news: floor plans are now available.

Contact me now to get your hands on these amazing floor plans and for your chance to buy NOW before the public!

Related post: Coming Soon: College Park Phase 3 Aura