MYC Relaunches in Davisville
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.