Line 5 Condos South Tower
About Line 5 Condos South Tower
Line 5 Condos South Tower responds to how we eat, move, work and live right now. The introduction of new, intuitive technologies combined with a thoughtful application of space conspires to help you live life to its core.
From ordering your ride and your dinner on your phone, to unplugging from the office and plugging in to your workout, life at Yonge and Eglinton looks a lot different than it used to.
Line 5 Condos South Tower Location
Line 5 Condos South Tower is steps from shopping, dining and everything you need. Convenient transit access to everywhere you want to go. Inspired condominium living at Yonge and Eglinton. Convenient transit to everywhere you want to go.
This line is where your story begins with you at the centre of it all. This is Toronto’s new hub of hyper-connectivity. Reduce your dependency on cars and alleviate commute times by living in the most connected community in the city.
Transit along the neighbourhood corridor is close to completion, and movement between points of life and work is a vision of fluidity. The expansion of the Eglinton Crosstown LRT will bring four-way rapid transit to Line 5, putting you close to work, play, and everything in between.
The fact that Line 5 Condos South Tower is in the booming Yonge and Eglinton area is a huge plus. The Eglinton Crosstown LRT will make Yonge and Eglinton the new centre of the city; only steps from Line 5.
Line 5 Condos South Tower has some really cool amenities that you wouldn’t particularly find in many (or any) other condos in Toronto.
For example, the Hot and Cold Food Storage is a very unique but extremely useful amenity to have in your condo. You can order your groceries online and not have to worry about being home to receive them. None of your food will go bad (or go cold if you don’t get in time for your pizza delivery) because it will stay fresh in the Hot and Cold Food Storage at Line 5 Condos. Pretty cool.
About the Developer
Reserve Properties is an active developer of residential, retail and mixed-use properties. With over three decades of experience, the executive have been involved in over 100 projects encompassing more than 12,000 homes and 2 million square feet of commercial and retail space across North America.
For over 60 years, Toronto-based Westdale Properties has owned, managed and developed real estate across North America. Westdale’s Canadian portfolio alone includes close to 7000 residential units and over 2.5M square feet of retail, commercial and industrial spaces.
Line 5 Condos South Tower Frequently Asked Questions
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:
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.