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Backstage Condos by Cityzen, Fernbrook Homes and Castle Point is set to rise 36 storeys at Yonge and The Esplanade, right across the street from the L Tower. Backstage is in a kind of ‘soft launch’ right now. For access to suites NOW, before the public opening planned for 2011, contact me.

There are several standout features of this project that make it a winner. The most obvious one being its prime location right at Yonge and The Esplanade. (Do not underestimate the power of location when choosing your first investment condo!) However, the two ‘killer’ features of the building are the PATH connection, and the 70′ rooftop infinity pool with lake views (not a typo-seventy feet long).

Being directly connected to the PATH in this location gives you underground access to several subway stations and hundreds of shops. If you have not been in the PATH in the financial district lately I encourage you to check it out. The retail and restaurants that you find there are trending more and more towards the ‘high end’. Imagine going to work every day in the winter and never bringing a coat!

The 70′ infinity pool looks like it will be incredible. I don’t know if there is a longer infinity pool existing or planned for any condo building downtown (someone let me know if there is). This kind of feature was unheard of in Toronto condos a few years ago, but developers like Cityzen are really starting to push the limits of what is to be expected in a mid-range condo.

It’s worth noting that the smallest suites in this building are 531 sq ft! What a contrast from most of these downtown towers that are packing their buildings with sub 500 sq ft units resulting in buildings where the majority of suites will be owned by investors. It may sound counter intuitive, but as an investor, sometimes you WANT to buy into a building where there are as few other investors as possible. Why? Less competition for rental units, and a better maintained and cared for building.

Standard suite finishes are well above average, and prices are starting below $600 per square foot (resale units at Cityzen’s completed “London” building are selling in the $575 PSF range today). Deposit structure is very cash-friendly, with only 15% over 365 days +5% at occupancy. For floor plans and pricing for Backstage, please contact me.

Backstage Condos

1. December 2010

1 Comment

From the builder:

Backstage is Toronto’s most dramatic condominium lifestyle experience, located against the vibrant backdrop of The Esplanade just west of the St. Lawrence Market at Yonge Street. Live just minutes from the financial district and all the action at the Sony Centre for the Performing Arts, the Air Canada Centre, and Rogers Centre. Spend quality time with friends at the many exciting bars, bistros and nightclubs in the entertainment district. Backstage, a condominium address where you are both the performer and the audience. Welcome home.

Building Features

36 Storey, glass point tower with sleek, slender lines of steel and shimmering glass inspired by architect Page + Steele
Upscale urban interiors designed by Munge Leung, and landscaping by the internationally recognized Claude Cormier
Panoramic views of downtown Toronto and Lake Ontario
Candidate for LEED certification
Future connection to the PATH concourse running throughout the downtown core
Amenities include rooftop garden with a 70 foot infinity pool and lake view
Uniformed 24hr concierge

Suites Features

Soaring 9 and 10 foot, smooth ceilings, as per plan
Contemporary kitchen cabinetry with extended height uppers and under valance lighting
Granite kitchen counter tops with under mount sink and ceramic back splash
Bosch appliances include cook top stove, built-in oven, built-in dishwasher, built-in microwave/hood fan, stacked front load washer and dryer
Fisher Paykel refrigerator and bottom mount freezer
Multi-plant, engineered hardwood flooring in entry, kitchen, living area, dining area, den, and bedrooms
Bathrooms include floating vanity cabinets with slab marble counter tops
Ensuite bathroom floors offer choice of marble, porcelain, or over sized ceramic tile while main bathrooms include choice of porcelain or over sized ceramic tile
Thermally isolated Low E, energy efficient, double glazed windows

*All details subject to change without notice and as per plan. See builder for details

MYC Relaunches in Davisville

17. February 2010

8 Comments

MYC launched in late 2008 at the exact moment the bottom began to fall out of the Toronto condo market. It was a strange event to see hundreds of agents show up at the information session for the project and only a small handful actually bring their buyer clients to the sales centre a few days later.

After dismal sales over the first few months of release, Cresford did the unthinkable and actually lowered their prices – significantly. This boosted sales to some degree but it ultimately a legal dispute between Cresford and their business partner on this project meant that the entire project was put on ice. And after many months of being told that the project would eventually relaunch, it finally has! This time Cresford is the sole developer on the project.

The building will be the same building as before – at least the tower suites will all be the same. There may be some changes to to podium suites from what it sounds like. Prices are starting at about $520 per square foot for most suites. Prime south facing suites on higher floors will run you more like $600 PSF. 35% of the building is already sold so there are only about 120 units available for purchase.

I still like the location of this building – right at Yonge and Merton, and the design by architectsAlliance is beautiful and practical. The floor plans are pretty much all excellent. The building is meant to appeal primarily to end-users rather than investors.

Suites are being reserved starting today until Tuesday for the VIP sales period. Contact me if you are interested in purchasing a unit at MYC.