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.

Description Coming Soon!

Have you heard of REVE? For most of my readers the answer is probably ‘no’. You’d probably be surprised to know that REVE is a new project by Tridel (Canada’s largest condo builder), that it is located downtown, and that over the weekend they completely sold out of all 1 and 2 bedroom units and have a massive waiting list for any rescissions.

Tridel was very smart. They saw a massive shortage in the marketplace for units priced under $300K. They packed the building with small 1 bedrooms and studios and the market responded loud and clear. They launched this project with almost no marketing, using only the momentum of the market, word of mouth, and a simple formula of giving the people what they want.

REVE will be located at 560 Front St West, just west of 550 Front St (a mid-rise condo building), and just east of Front and Bathurst. Not the most glamorous location, but still a short walk to the King West epicentre – King and Bathurst. Prices were in the $500 per square foot range which for a Tridel project downtown, is a pretty good deal.

The project is already under construction and is to be completed by next year. The site was originally going to be a hotel, but Tridel bought the site over the summer and will build a condo on the existing floor plate. This may explain why many of the floor plans were quite unusual – the floor plate was never designed to be for condos.

To view floor plans for REVE, click here. 3 Bedroom units are still available. Contact me for more info.

Those of you who have put me on your Radar should know about REVE, because I sent out a Radar Pulse about it last week. The market moves so fast that I couldn’t possibly write a separate article for every single project launch, special event, or investment opportunity on this blog. Put me on your Radar today and stay informed! (We are almost at 25 users of Radar. Once we hit 25 I will do a random draw for a $50 Best Buy gift card!)

December 2009 Update. Download the latest price list for Connect Condos here. Current promotion: 8% off the list price for any unit. One of the best values downtown.

Coming soon to King West from Urbancorp: Connect Condos. It is still very early in the marketing process for this project and not very much information has been released, but Urbancorp is the builder behind West Side Gallery Lofts and also Bridge Condominiums. Their projects are often targeted to the lower-end of the market and they often have very competitive price points.

Register with me now for more information and your chance to purchase before the public at an upcoming VIP sales event.

Thinking of buying a new condo directly from a builder? Read this first.

Charlie Condos at King and Spadina by Great Gulf Homes. 32 Storeys of elegance and style. Floor plans and pricing for upcoming VIP sales event are available now. Contact me to get your hands on these fantastic floor plans right away.

Project details:

Location: King and Spadina, On the North Side of King St, just east of Spadina.

Suite Features: Approximately 9′ ceilings, engineered hardwood floors in principal rooms, Kitchen cabinetry by Cecconi Simone, Granite or solid surface countertops, stainless steel appliances.

Building Features: 24 hour concierge, 7th floor fitness centre complete with weight room, aerobic/yoga studio, co-ed steam room, change rooms, media lounge, catering kitchen with dining room, billiard room/lounge, library and poolside lounge. Landscaped rooftop garden with outdoor pool and seating area.

Deposit structure: $5000 with offer, Balance of 5% in 30 days, 5% in 60 days, 2.5% in 180 days, 2.5% in 270 days, 5% at occupancy.

Occupancy: Fall 2011

Maintenance fees estimated at 45 cents per square foot + hydro

Parking: Available on 2 bedroom suites and select 1+den suites for $37,500

Lockers: Available for $3,500

Contact me now for more information and to receive floor plans and pricing.

Click here to view a full colour Brochure for Charlie.