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DNA3 Looks Like a Winner

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.

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Two New Condo Projects Rejected Based on Height

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.

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Coming Soon: Bisha Hotel and Residences

King and Spadina is absolutely exploding. Not 10 years ago any self-respecting Torontonian would carefully avoid this once sketchy area.  Now this ultra hip zip code made famous by “M5V” is setting records for prices per square foot with buildings like The Hudson (438 King St) and Glas (25 Oxley) making resale buyers salivate.

Enter Bisha Hotel and Residences by Lifetime Developments (Liberty Market Lofts, X2, Victory Condos) and INK Entertainment. The combination hotel and condo will be situated at 56 Blue Jays way on the former site of the Diesel Playhouse and what was once Leoni’s restaurant for those who were around long enough to remember Leoni’s.

Charles Khabouth is the man behind INK Entertainment and is Toronto’s night club king, owning and running several venues including Guvernment and Ultra Supper Club. His vision for night life, combined with the design of Munge Leung (ICE, Murano, Ritz Carlton, FLY, etc.) and the condo building savvy of Lifetime has me very excited about the possibilities of this project.

It’s hard to describe what Bisha will be like, because there has never been anything quite like it in Toronto, but the concept for the Hotel/Residences was launched at Interior Design Show last month. The style is modern yet classic, elegance without being fussy.  Another first for the city of Toronto: Bisha will incorporate 1 floor of affordable housing in the building which will be rented out to the the hotel employees. I expect this to be a trend-setting move that will be seen more often as the city seeks to incorporate more affordable housing units and developers seek to build more units on every tract of land they own.

Sales will be launching late spring/early summer, however, once again my clients will have priority access to this project because of my excellent track record and relationship with Lifetime Developments. If you are interested in Bisha, please contact me.

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Bisha

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DNA3

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minto775 King West

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Thompson Residences

Contact me now for the upcoming VIP Broker Preview event for Thompson Residences.

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Coming Soon: DNA3

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!

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Glas Condominiums – Now Registered!

Glas Condominiums (25 Oxley Street) is now registered. Congrats to all unit owners and investors who bought in the building several years ago and now you officially own your units.

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.

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Coming Soon: Victory Condos Penthouse Suites

I had lunch this week with a few developers at an exclusive VIP broker’s reception in Liberty Village. These ’schmooze-fests’ are generally just for mutual ego stroking, but they are also a great way to find out what is happening in the downtown condo scene. These are people who are ‘running things’ in Toronto.

In chatting with some of the folks behind Victory Condos I was informed that the penthouse suites at Victory will soon be released for the first time. The suites sound like they will be amazing. They will take the already great standard finishes and features of Victory up a notch. For example, 10′ ceilings instead of 9′ and full size appliances instead of ‘condo size’.

Each unit will have it’s own private rooftop terrace above each suite including a glassed in ’skybox’ which will let natural light down into the unit. This feature will really set these penthouses apart from others downtown and will make the units feel like modern townhomes in the sky. If you are looking for an upscale residence in the King and Spadina neighbourhood, consider the penthouses at Victory.

Victory Condos at King and Spadina by BLVD Developments is over 80% sold. Construction is underway. There are only about 25 units still available. Contact me for more information.

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