Coming Soon: FIVE Condos
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This one could be spectacular. The combination of Graywood Developments (Ritz Carlton, 8 Mercer), and Mod Developments (new company formed by the former head of Great Gulf – Michael Switzer) means this project has some serious pedigree behind it and the location is a can’t miss proposition. Assuming the prices come in at something very similar to Nicholas Residences (low $600s Per Square Foot at the VIP stage), this one could be one of my top picks for investment in 2010.
FIVE Condos is going to be 45 storeys, and will be situation right at Yonge and St Joseph Street which is about a 3 minute walk to Yonge and Bloor where Great Gulf is asking – and getting – well over $800 per square foot for Number One Bloor. The finishes are rumored to be a step above the quality of say a Charlie or an X2, but not into the true luxury category of the upper floor suites at Number One Bloor. Still, Miele appliances are nothing to sneeze at, and my hopes are high for the value-proposition of this development – yes, even at $650 PSF.
The VIP sales period for FIVE will commence on May 18th in the afternoon. There will be an event for brokers and agents like myself where we will get the floor plans and pricing (and some free food), and later that afternoon they will start accepting worksheets for suite reservations/requests. The earlier you get your worksheet in, the better the chance of getting your suite of choice. Frankly, it also helps a great deal to have a Realtor working for you that has a previous experience with the sales team handling the project – which I do.
It’s also worth highlighting the unique architectural features of the project – undulating balconies and the integration of several heritage buildings on Yonge and St Joseph Streets. Similar to the approach that Nicholas took, but executed with a higher degree of sophistication and reflecting the city’s value of new urbanism.
To register with me for the VIP sales event for FIVE, please contact me.