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FIVE

Two prominent developers are combining forces to introduce FIVE – Condos at 5 St. Joseph, Toronto’s hottest new condominium that will tap into the cool energy of Yonge Street, just south of Bloor. Rising to 45 storeys of glimmering glass punctuated by an undulating pattern of balconies, FIVE will launch the rejuvenation of this prime area. It is also the premier condominium by Five St. Joseph Developments Ltd. – a joint venture between Graywood Developments Ltd. and the newly formed MOD Developments Inc.

Graywood is the renowned developer of The Ritz‑Carlton, Toronto and has earned the reputation as a significant force in the residential condominium market. MOD is led by industry veteran Gary Switzer, the former head of high-rise development at Great Gulf Homes (one of the GTA’s major development companies) for more than 20 years, who spearheaded several award-winning landmark condominium residences in the city’s core. Both firms focus on creating high-quality residences in premier locations that feature innovation and design excellence.

Taking the concept of creative design to a new dimension, FIVE St. Joseph will marry the future and the past by tying in components of the existing heritage architecture with the stunning modern tower. Graywood and MOD enlisted highly respected Hariri Pontarini Architects to create the contemporary iconic exterior. Among this firm’s accolades is a coveted Governor General’s Medal in Architecture, recognizing outstanding achievement in design excellence.

The articulated sculptural tower will rise from a podium that includes several of the small shops that have lined Yonge Street since the 1880s and are undergoing a restoration by ERA Architects to house new retail venues. ERA is restoring a four-storey 1905 Gothic Revival warehouse façade on historic tree-lined St. Joseph Street that will become the condominium’s entry. Retail shops will line charming cobblestoned St. Nicholas Street, and topping off the podium design is a roof garden designed by acclaimed landscape architect Janet Rosenberg and Associates, to serve as an urban oasis for residents. The resulting building will inject the St. Joseph-Yonge intersection with panache that references the prestige of the Bloor-Yorkville area to the north.

Multi-award-winning Cecconi Simone Inc. rounds out the design team with interiors that speak to the edgy sophistication of the urban professionals and entrepreneurs whose distinctive tastes attract them to this area. The amenities in the building are focused on entertaining and relaxation, and have an attitude. “FIVE ON FIVE” offers the complete package for fitness and fun, and “THE GARDEN ON TWO” is a tempting urban escape.

Situated a few short blocks south of Bloor Street on the west side of Yonge, FIVE St. Joseph will offer a fantastic location in the strategic hub of many of Toronto’s most exciting amenities. Those who work at Queen’s Park, in one of the world-renowned hospitals along and around University Avenue, the Royal Ontario Museum, Gardiner Museum, or any of the multitude of shops, restaurants and office buildings in the vicinity, or who attend the University of Toronto or Ryerson University will find it easy to walk or take the subway to work or school.

At FIVE St. Joseph, purchasers will be able to choose from a variety of styles from heritage lofts to tower suites, with studios, one-bedroom, one-bedroom + den, two-bedroom and two-bedroom + den layouts. Sizes range from a 400 square-foot studio to a 1,400 square-foot terraced penthouse. Prices start from just the mid $200s.

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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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Nicholas Residences

Description Coming Soon!

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1 Bloor Rumour Train Gathering Speed

July 22 Update: The 1 Bloor site at Yonge and Bloor is apparently up for sale according to the Toronto Star. If this is true, this would put the future of the tower in serious jeopardy.

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1 Bloor was the most celebrated and most reviled symbol of Toronto’s recent real estate boom.

Realtors lined up for weeks (or paid students and homeless people to do so) for the chance to buy units there only to learn that the developer increased prices by 25-50%  from what they were told they would be paying. It didn’t matter as they bought anyway and hundreds of units were sold in a matter of days at prices in the $1000 per square foot range.

Now, more than 2 years after the initial hype began, no shovel has hit the ground and no one is moving into their piece of Toronto real estate history any time soon. Still the million-dollar question remains:

Will 1 Bloor actually get built?

The latest rumours news on the project is this: it will be built, only it is going to be scaled back to 68 stories instead of the original 80. This is according to the Globe and Mail. So that would mean it is no longer Canada’s tallest residential building, and purchasers who bought units on floors above 68 are…screwed.

But hold on, because The Toronto Star has a remarkably different article in their paper today which says that 1 Bloor is going into receivership and that the current Kazakh financial backers of the project are in mired in a massive scandal. That doesn’t sound like the recipe for building a 68 storey tower to me.

So who is right? I have no idea, but this corner of Toronto deserves a landmark, be it 1 Bloor or something else. My fear is that if plans for 1 Bloor are scrapped, something mediocre will be built in its place. When it comes to condos, Toronto already has plenty of mediocrity but greatness is in short supply.

For a trip down memory lane, check out some of my old blog posts on the 1 Bloor development from when I was a contributor to BlogTO.

• Kazakhstani Developer to Transform Yonge and Bloor: Very Niiice!
• 1 Bloor: What will you miss the most?
• 1 Bloor: Crosshairs of Insanity

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Plenty of Great Units Still Available at CASA and Bloor Street Neighbourhood

Most developers have shelved their plans for launching new projects in 2009 in favour of promoting and marketing their projects already on the go. Cresford is currently pushing their 2 developments under construction located on Charles St, just south of Yonge and Bloor. If you are looking for a new condo in a prime downtown location and want to move in in the next 12 months, BSN: Bloor Street Neighbourhood and CASA could be good options for you.

It’s debatable whether or not this location is truly Yorkville, but it’s steps from Bloor Street shopping, the Yonge and Bloor line subways, the Manulife Centre, and about half a dozen Starbucks locations. 

There are still plenty of great units available at both buildings and Cresford is offering some pretty good incentives right now. For suites priced over $600,000, Cresford is offering a free parking spot and locker (valued at around $40K), and for suites priced under $600,000 they are offering 2% cash back (not as exciting).

Architecturally these two buildings offer a striking contrast. BSN is more of a traditional high rise with a staggered podium and a unique L-shape. CASA is a great example of a Toronto modernist condo designed by architectsAlliance with a ‘glass box in the sky’ feel to it. Key features at BSN include 10′ ceilings, huge terraces, and generous floor plans. CASA will feature an outdoor pool that will be open year round. 

Price per square foot varies from $500-$700 depending on the unit, exposure, balconies (see current price list below).

If you are interested in more information about Casa or BSN, please contact me.

Links

• BSN and CASA pricing

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