TrueCondos.com – The Best Source for Toronto Condos

ART Condos Wants to Start Construction

From time to time I am able to offer my buyer clients special privileges because of either my own relationship with a particular developer or because of my brokerage’s affiliation with one. This week I have a special offer from ART Condos. Art is a 150 suite boutique loft building on Dovercourt, one block south of Queen Street. Suites range in size from @500sf to 1650sf 2 storey three bedroom with a patio. Prices are from $227,990 and parking is $30,000.

ART condos in Queen West is very close to hitting their sales targets for starting construction. They only need about 17 more units sold. In order to expedite the last few sales, they are offering an exclusive to my clients and other clients of Remax Condos Plus. On Wednesday June 23 they are having an exclusive sales event.

Special incentives for buyers at this event

• Zero assignment fee
• $2500 cashback on closing for studios, one bedroom and one bedrooms and den
• $5000 cashback for 2 bedrooms, 2 bedrooms and den and 2 storey 2 bedrooms
• Deposit Structure for select units has been reduced to only 10% in 90 days + 5% at occupancy!

If you are interested in purchasing a unit at ART condos, this is a great opportunity to get in before construction begins. Contact me for more information.

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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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Coming Soon: Nicholas Residences

Coming soon from Urban Capital and ALIT Developments: Nicholas Residences.  Register with TrueCondos.com now for your opportunity to buy before the public launch. Floor plans and pricing available now. Worksheets for units being accepted NOW. Don’t delay, contact me today to buy a unit at Nicholas Residences.

Nicholas Residences will be located approximately at the corner of St Nicholas and St Mary Streets in the Bloor Yorkville neighbourhood. Steps to Yonge Street, Bay Street, The Manulife Centre and the heart of Yorkville, The building will incorporate two historic buildings on St Nicholas Street.

Urban Capital is the developer behind Boutique Condos in the entertainment district as well as River City in the West Don Lands.

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X2 Condos VIP Sales

X2 Condos at Jarvis and Bloor by Great Gulf Homes and Lifetime Developments is my pick for one of the best investment condos downtown this year. Contact me now to reserve your unit for this month’s upcoming VIP sales event.

X2 is the second phase of X The Condominium, and will be located on the south side of Charles Street, one block south of Jarvis and Bloor.  Prices are starting at just $466 per square foot, with the average price for the building being approximately $510 per square foot.

Investors – this is it! Avoid the hype and line-ups that will surround Number One Bloor ($800 PSF and just 3 blocks away!) U Condos tower 2 is priced at $600-$700 PSF (4 blocks away)! Buy value and buy quality in the Bloor-Yorkville neighbourhood with X2.

Click here to download a full brochure with floor plans: x2_brochure. Or download the floor plans only here: x2_floorplans

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Parade Two: Park View Residences

VIP sales are starting now for Parade Two: Park View Residences. Contact me for more information.

The Park View residences are floors 12-21 of the West tower of Parade. The south units will be overlooking the newly opened and yet to be named Cityplace Park. Go to Cityplace.ca to view a promotional video.

Units are now available for booking to VIP agents such as myself for the sales event which will be taking place on November 5th. The incentives for purchasers now is $10,000 off for 1 bedroom and 1+den units and $20,000 off for 2 bedroom units. Prices for VIP purchasers will be starting in the $520 per square foot range for the lowest floors.

Standard suite features at Parade 2 include Miele kitchen appliances, European style cabinets, laminate flooring, and stone counter tops. The amenities at Parade will be second to none, and will include a pet spa, daycare, children’s indoor and outdoor play areas, 25m lap pool, state-of-the-art gym etc. Occupancy is estimated at September 2012.

Click here to download floor plans.

Click here to download deposit structure, features, price sheet etc.

Want to hear about opportunities like this before everyone else? Sign up for my new service and Put Us on Your Radar today!

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Prepare to be Disappointed

I would love to paint a picture for my readers and clients that buying a new, pre-construction condo at a VIP sales event is a simple and straight-forward process where if you have money and are ready to spend it, you get exactly what you want when you want it. Unfortunately this is not always the case.

This past weekend I attended yet another one of these VIP broker-type sales events at one of the highest-profile condo projects downtown in the King and Spadina neighbourhood. Condos at this project are selling in the $800-1000 per square foot range. These are not low end condos.

My client wanted to buy a 1 bedroom unit for something around $500K. We lined up early, we knew exactly what we wanted, we even had our deposit cheque ready to be handed over. When the doors finally opened, we were told that there were no 1 bedrooms available (even though it was advertised that there would be). In fact, there were no units available unless we wanted to spend at least $750K.

Of course, I knew this would likely be the case beforehand and had prepared my client for this reality. But most people attending these “VIP sales events” have no clue what they are walking into.

My best advice to buyers is “prepare to be disappointed”. Even though you may know exactly what you want to buy and have the financial means to do so, you may go home empty handed. It’s the nature of these sales events. They are built around hype and anticipation. Once you are through the doors they know that given the chance, most people will buy just about anything

Questions or comments? Feel free to contact me or leave a comment below.

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Couture: Special 1-day VIP Broker’s Event

Couture Condos by Monarch Developments will be holding a special 1-day only VIP Broker’s sales event on Wednesday (tomorrow). Please contact me if you are interested in purchasing a unit at Couture.

Couture still has some 1 bedrooms and 1 bedroom plus den units available, starting from around $273K. 2 bedrooms starting from about $342K. This is a good opportunity to pick up an investment unit or even a place to live in on the east side of downtown, just a few minutes walk to Yonge and Bloor.

Special for buyers on Wednesday August 26th ONLY:

• $10K off the purchase price for 1 bedrooms
• $15K off for 1+dens
• $20K off 2 bedrooms
• $30K off 2+dens
• PLUS, free laminate flooring upgrade in the bedrooms for all purchasers (normally only standard in living/dining areas)

Prices are in the low to mid $500s per square foot for most units (before any discounts or incentives are applied).

For more information contact me.

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Liberty Market Lofts to Drop Prices, Release New Suites

July 4th update: Over 120 units sold in the first 3 days of the relaunch. Project is now over 80% sold. Prices on all suites have gone up $15,000 on all units. Parking is now $25,000 (up from $19,900), Assignment fee is now $5000 (up from $17).

Contact me now if you are interested in buying a unit at Liberty Market Lofts.

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OK, did all the developers in the city hire the same marketing company or is common sense finally making a come back in the Toronto new condo market?

Liberty Market Lofts by BLVD and Lifetime Developments is the latest developer to announce that they are:

• Lowering prices
• Reworking the building plans to introduce new floor plans
• Having a one-time sales event to launch the new prices and plans
• On top of these 3 items, they are offering 5% deposit (certain conditions will likely apply)

LML launched back in April 2008 and like many projects that launched in ‘08, they have yet to reach their sales targets to begin construction. Given the current pace of sales these developers realize they have to do something drastic (or at least seemingly drastic) to boost sales and meet their lenders requirements to get these buildings built!

Details are limited at this point, but the sales event is set for June 27-28. No word yet on whether there will be a broker’s event prior to that. BROKER’S SALES EVENT SET FOR THURSDAY JUNE 25. Contact me if you would like to attend.

I always liked this project with it’s 2-storey loft units and boutique size located in the heart of Liberty Village. I hope they get the sales they need to get this thing to break ground.

For floor plans check the developer’s official site.

Questions? Contact me.

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One Cole – The Future of Regent Park

Today was the broker’s luncheon for Daniels’ new project in the Regent Park neighbourhood (Dundas and Parliament) - One Cole. Baker Real Estate is handling the broker’s sales event so as expected, it was very busy with about 100 agents or so in attendance.

The VIP broker’s sales event is set for May 30th, with the public opening June 13th. Contact me now for more information about how you can hire me me as your exclusive buyer’s agent for this event. Baker is limiting agents to just 2 buyer clients each for this event. Floor plans and pricing now available.

 One Cole is really unlike any other condo in the city for a number of reasons. First of all, it is already built, yet not a single unit has been sold. Unlike 99% of the condo projects in this city where the builder sells at least 60% of the units before a shovel ever hits the ground, One Cole is nearly finished construction with occupancy is set for the end of this year and sales have not even started. In this market, where many buyers are leery to buy anything for fear the condo may not be built, this is welcome relief.

But of course the real reason why One Cole is so different is it is part of the Regent Park Revitalization plan. Regent Park was Canada’s largest social housing project, built back in the 1940s. At the time it was heralded as a solution to the area’s many urban and social problems, but 60 years later it is widely regarded as a failure and probably exasperated the social problems it was trying to address.

If you leave Toronto now and come back in 10-15 years, you would not recognize Regent Park. It is undergoing what is being called the largest scale neighbourhood renewal project in North America. One Cole is part of phase 1 of this renewal.

My quick thoughts on this project:

• Great value. At $400 per square foot, premium features like 9′ ceilings, granite counter tops, ceramic back splash, stainless steel appliances, laminate flooring in all rooms are all standard.
• Great building. The building itself will have some excellent features that will enhance the quality of life of it’s residents including a 20,000 square foot roof top park, and a Sobey’s, Tim Horton’s and RBC bank all right in the building. The building will also be the first in Toronto to be Leed Gold certified.

My questions about this project which I’d like to hear your thoughts on are:

• Investors - are you considering buying a in this location? Why or why not?
• First time buyers – If you are looking for a condo downtown, and have never considered this area, would you consider buying at One Cole? Why or why not?

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Fly Condos Broker’s Event Recap

The Fly Condos broker’s sales event was last Thursday evening, and to no one’s surprise it was an absolute flurry of activity- and sales. Hard to say how many units were sold, but I would estimate they rocketed past the 60% mark for the entire building. Why was this event so successful? How did FLY sell dozens and dozens of condos in one night when most developers are selling 1 or 2 condos a week at their sales sites? Here are a few reasons why in my opinion:

1. Price. The number one reason why they did so well with their relaunch is they lowered their prices significantly. Prices were adjusted by approximately 20% versus what they were selling for back in October 2008. Most units were priced in the mid $400s per square foot.
2. Timing. They hit the market at the perfect time. Spring fever is in full effect in this city and there is a lot of pent up demand from buyers who have been sitting on the sidelines waiting to jump in. Also, there are no other major project launches anywhere downtown right now = no competition for “VIP sales fever”. Back in 2007/2008, there were VIP sales launches literally every single week.
3. Promotion. I must hand it to Empire. They did an amazing job getting the word out to the public as well as the broker community about the relaunch. They kept pounding the “$159,000″ price point into people’s heads and this worked. Everyone was buzzing about getting a condo in a great downtown location for $159K.

If you are still looking for a unit at FLY, there are still plenty available, but anything priced under about $275K is basically sold out for the time being. No word yet on whether or not they will be releasing more suites in this price range in the weeks to come.

Questions? Contact me.

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