Galleria 02 Condos
| Address | 1245 Dupont Street | ||
| Developer | ELAD Canada | Occupancy | Nov 2023 |
| Area | Wallace Emerson | Deposit | 15% |
| Storeys | 24 | Maint. Fees | $0.63 psf/m |
| Units | 191 | Prices | $491,900 – $1,057,900 |
Galleria 02 Condos is a new condo in Toronto developed by ELAD Canada currently in pre-construction at 1245 Dupont Street, Toronto, ON.
About Galleria 02 Condos
Galleria 02 Condos is the second phase from the master-planned community, Galleria on the Park. Galleria 02 Condos will be the second release of residential units as a part of the Galleria Mall revitalization project.
Taking its cue from both the green park and the new Dupont on the north side, Galleria 02 Condos is a stunning modern high-rise residence standing 24-storeys tall with 191 units.
Galleria 02 Condos Location
Galleria 02 Condos is located in the West end of Toronto as a part of the Wallace Emerson neighbourhood. Galleria 02 is the second phase of residential buildings that will be revitalizing and replacing the existing Galleria Mall.
Galleria 02 Condos is settled in a vibrant and energized neighbourhood, but it will also be a part of a whole new neighbourhood of its own. The master-planned community set to replace the old Galleria Mall will include nearly 3000 residential units, 300,000 Sq.ft of new retail, an 8-acre park, and a new 95,000 Sq.ft community centre.
Recreation
If all the amenities of the new master-planned community isn’t enough, Galleria 02 Condos is nestled in a neighbourhood destined for growth and excitement. Surrounded by parks such as Dovercourt, Christie Pits, and the soon-to-be Green Line Park Galleria 02 residents can embark on a walk, ride, or run.
Entertainment
The Wallace Emerson neighbourhood has long been an area deeply rooted in retail, restaurants, and entertainment. Just outside your doorstep at Galleria 02 Condos, you have a wide selection of restaurants ranging from microbreweries to classic Portuguese cuisine.
Galleria 02 Condos is also a short walk away from a handful of fitness/exercise facilities such as rock climbing, as well as a long list of stunning art galleries.
Nearby Galleria 02 Condos
• Shoppers Drug Mart
• Shell
• Morning Star Breakfast
• Farmhouse Tavern
• The Greater Good
• Porta Nova Steakhouse
• Toronto Public library; and more.
1245 Dupont Street
Walker’s Paradise
Galleria 02 Condos Amenities
Galleria 02 Condos will be built to coincide with the completion of 22,000 Sq.ft of beautifully appointed, exclusive amenity space for residents to enjoy. This includes but is not limited to:
• Movie Theatre
• Kid’s Playroom
• Social Lounge
• Tech/Work Space
• Pool
• Outdoor Terraces
• Fitness Centre; and more.
About the Developer
ELAD Canada is the versatile Canadian real estate arm of the ELAD Group, an international developer with a keen focus on development projects and income-producing properties. ELAD Canada has a proven track record with large scale, multi-phase projects throughout Canada.
Galleria 02 Condos 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.
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.
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/
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
- You get the highest level of access in the building
- You pay the lowest possible price for the unit (prices are typically increased significantly after the Platinum sales event)
- The best possible incentives
- 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.
- Access to my personal network of mortgage brokers, lawyers, property management, HST rebate services, handymen and much more.
- My services to you as a buyer are free
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
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.
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.
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.
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:
Contact me for more details
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.
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.
