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What is a ‘Luxury’ Condo?

In case you haven’t heard the story that is all over the local news, there was a million dollar drug bust at a penthouse suite at a condo on Fort York Blvd. By all accounts it looks like the dealers were operating out of 219 Fort York Blvd.

I actually really like 219 Fort York. It is phase 1 of the Water Park City complex, completed in 2005. The building has great views, offers good value and decent location, and was the first tower completed in the Fort York Blvd neighbourhood.

My beef with the media’s reporting on this story is that they are referring to 219 Fort York as ‘luxury condominium’, and an ‘exclusive address’. It is not a luxury condo, and it is not very exclusive. It is clearly an entry level condo made for the masses and is particularly popular with first time buyers on a tight budget but who want to still be near the downtown scene. The building and it’s sister building (231 Fort York), also have a high percentage of tenant-occupied units.

I think it is time to retire the word ‘luxury’ from our real estate lexicon when referring to condos. The word is too vague and has lost its meaning. It was often used in the past when condos were considered to be a new and novel way of living. They were seen in the 80s and 90s as glorified apartments. Now, there are so many different types and styles of condos ranging from the very low-end right on up to the ultra-exclusive. Just because a condo has floor to ceiling windows and granite in the kitchen that doesn’t make it a luxury condo.

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Fly Condos VIP Sales Event on NOW

April 2009 update: NEW PRICES  and NEW FLOOR PLANS now available for FLY Condos. Suites available from an amazing $159,900! Click here for details.

Fly Condos – the wait is finally over! Email me to get your hands on VIP price sheet right away for Fly Condos.

Project Details:

• Location: Front and Spadina
• Size: 24 Storeys, 396 units
• Starting Prices (tower suites): $269,900 for 495 sq ft to $684,900 for 1112 sq ft.
• Price per square foot from the Mid $500s
• Penthouse Pricing starting from $849,900 for 1145 sq ft to $1,169,900 for 1533 sq ft
• Loft Pricing from $399,900 for 690 sq ft to $619,900 for 1050 sq ft
• Terrace Suite Pricing from $289,900 for 495 sq ft to $419,900 for 710 sq ft
• Parking $35,000
• Lockers $5000
• Floor Premiums: $1000 per floor
• Maintenance: $0.46/sq ft + Hydro
• Occupancy: Oct 31, 2011
• Deposit Structure: $2000 with offer, balance of 5% in 30 days, 5% in 90 days, 5% in 180 days, 5% in Occupancy

They are offering some incredible incentives for purchasers during the VIP stage:

• Savings of up to $15,000 per unit
• FREE Locker ($5000 value)
• FREE Assignment Prior to occupancy
• FREE Upgrade to Integrated Fridge and Dishwasher in Kitchen
• FREE In-suite 5.1 Surround Sound Home Entertainment System ($3000 Value)

Also being released at the VIP stage are some of the Terraced Suites, the lofts, and some of the Penthouse suites. Contact me for more information.

Click here to view the Fly Condos floor plans.

Contact me now and I will send you the Fly Condos VIP Price Sheet.

April 2009 update: NEW PRICES  and NEW FLOOR PLANS now available for FLY Condos. Suites available from an amazing $159,900! Click here for details.

See all my posts related to Fly Condos here.

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