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The Clair Residences

Developer Great Gulf/Terracap Number of Units 164
Address 1421 Yonge Street Occupancy Date 2023
Area Deer Park Maint. Fees TBA
Number of Storeys 34 Priced From TBA
The Clair Residences True Condos

The Clair Residences is a new condo in Toronto developed by Great Gulf and Terracap currently in pre-construction at 1421 Yonge Street, Toronto, ON.

About The Clair Residences

Rising soon at Yonge & St. Clair – The Clair Residences

The Clair Residences are enlightened luxury condos up to 3,000 sq.ft. located at 1421 Yonge Street in Toronto, ON. The award-winning Hariri Pontarini Architects has designed spacious wrap-around balconies that seamlessly integrate indoor and outdoor space, creating ‘terraces in the sky’. Live in a place with infinite possibilities at The Clair Residences.

The Clair Residences Location

The Clair Residences is bounded by the prestigious neighbourhoods of Summerhill and Rosedale to the south and Yonge and Eglinton to the north. The Clair Residences is crisscrossed by a network of parks and trails, placing it in the middle of artful living.

Recreation

Yonge and St. Clair has almost anything you could possibly want, including green space! The Clair Residences is nearby Delisle-St. Clair Parkette, which is a great place to relax with a coffee. The Clair is also only a short walk to the trails of the Rosehill Reservoir in Rosedale.

Entertainment

The Clair Residences is surrounded by restaurants, and Yonge Street has amazing boutiques- you could wander for days. Yorkville is close at hand and you could spend an afternoon wandering the halls of Casa Loma. The Clair Residences has it all.

Transit

With the Subway right outside The Clair Residences doorstep, living at Yonge and St. Clair is as good as it gets. The streetcar operates 24 hours along St. Clair to the west of Yonge St, making it easy to head over to the West End.

1421 Yonge Street

Walker’s Paradise

Explore Rosedale-Moore Park on Walk Score

Nearby The Clair Residences

• Holy Chuck
• Union Social Eatery
• Starbucks
• RBC
• St. Clair Station
• Cineplex
• Loblaw’s
• Shoppers Drug Mart
• David A. Balfour Park

The Clair Residences Rendering

About the Developer

Great Gulf

Great Gulf is an award winning builder and developer of new homes and condos in Toronto, Milton, Sharon Village, Bradford, Oakville, Whitby and Brampton. For 40 years, Great Gulf has embodied the spirit of innovation within each of their 40,000 homes.

Terracap Management

Terracap has a 30-year history in real estate investment and development with 4 million sq.ft of real estate and over 25 properties in North America. Their portfolio includes multi-residential properties, development sites, retail, and office spaces.

Great Gulf Developer Logo True Condos
Terracap Logo True Condos

The Clair Residences FAQs

How do I reserve a unit in this project?

After you review the floor plans and prices, if you know what suites you are interested in, you may reserve a suite online using our online reservation worksheet form at https://truecondos.com/worksheet.

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Does filling out the worksheet form mean I’m committing to buy a suite?

No it is not a formal commitment, it is an expression of interest and the first step you must take if you are thinking about getting a unit in this project.

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What does it mean that Andrew la Fleur is a “Platinum Agent”?

Platinum agents are the top selling agents who get preferred status with developers and first access to new projects before regular agents and the public.

Andrew la Fleur has been a top-selling pre-construction agent since 2007, and during this time he has achieved platinum status with many of the top builders and sales companies in the Greater Toronto Area.

For more information on about Platinum agents see this article: https://truecondos.com/5-things-to-know-about-buying-a-condo-with-a-platinum-vip-realtor-real-estate-agent/

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How does it benefit me as a buyer to work with Andrew la Fleur as my Platinum Agent?

Working with me as your Platinum agent gives you several benefits

  1. You get the highest level of access in the building
  2. You pay the lowest possible price for the unit (prices are typically increased significantly after the Platinum sales event)
  3. The best possible incentives
  4. I do not represent the builder. I represent you. You benefit from my expertise of being a top selling pre-construction agent and investor myself since 2007.
  5. Access to my personal network of mortgage brokers, lawyers, property management, HST rebate services, handymen and much more.
  6. My services to you as a buyer are free

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Do I get a cooling off period? What is it for?

Yes, after you sign the contract to purchase a suite you will have a standard 10-day cooling off period. It’s 10 calendar days, not business days from the time you sign.

The 10 days are primarily for 2 things: 1) to have a lawyer review your contract with you if you wish and 2) to get a mortgage pre-approval letter

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Do I need to have a lawyer?

You don’t need to have a lawyer at the moment that you sign the agreement, however I always recommend that you have a qualified lawyer review your agreement of purchase and sale after you sign and during your 10-day cooling off period.

Not sure who to talk to? Don’t worry – getting a lawyer is something I can help you with. Contact me for more details.

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Do I need to have a mortgage pre-approval to buy?

95% of all builders will require you to provide them with proof of financing capability in order to purchase. This is not required before you sign a contract, but it is usually required within 60 days of signing.

Not sure where to begin? Don’t worry – getting a mortgage pre-approval is something that I can help you with. Contact me for more details.

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Do the prices include HST?

If you are purchasing for yourself and plan to move in, then yes, prices include the HST and there is nothing you will have to pay at final closing.

If you are purchasing as an investment rental property, then you will have to pay approximately 7.8% of the purchase price as HST on final closing.

This money is remitted to the CRA and as an investor renting out your property you can apply to the CRA immediately to get this money back. It usually takes about 1 month to get your rebate back.

For more information on the HST, see here:

https://truecondos.com/tag/hst-rebates/

Contact me for more details.

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What are my closing costs on a pre-construction condo?

Closing costs on a pre-construction condo will vary greatly depending on the actual purchase price of the unit you are buying, but it also depends on the builder, the city that you are buying in, and the type of unit that you are buying.

 

Roughly speaking in Toronto you can expect to pay approximately 3-5% of the purchase price in closing costs when purchasing a brand new condo.

 

Check out this article for more info on closing costs:

https://truecondos.com/5-things-to-know-about-closing-costs-when-investing-in-a-pre-construction-condo/

 

Contact me for more details

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Are there any ‘hidden’ costs when buying a pre-construction condo?

No, there are no hidden fees when buying pre-construction condos because all fees must be disclosed in the agreement of purchase and sale. All purchasers have 10 days to review the agreement and have a lawyer advise them on the exact closing cost amounts. If you need a lawyer to help you we can suggest to you to several expert law firms that will review your agreement in detail.

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Is it possible to assign my condo? How much is the assignment fee?

Most condo builders do allow you to sell your unit before the building is complete. This projcess is called selling by “assignment”.

There is usually an assignment fee and a legal fee associated with selling. Costs can range from $1000-7000. Contact me for more details.

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(416) 371-2333

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