Olive Residences is a new condo in Toronto developed by Capital Developments currently in pre-construction at 36 Olive Avenue, Toronto, ON.
|Address||36 Olive Avenue, Toronto|
|Neighbourhood||Yonge & Finch|
|Number of Storeys||29|
|Number of Units||350|
About Olive Residences
Introducing North York’s newest landmark, Olive Residences! This stunning new condominium is set to stand 29-Storeys tall at Yonge & Finch, a highly sought after location in Toronto’s north end. Just steps from Finch subway station, a short drive to Highway 401, and tucked away off the Yonge Street corridor, Olive Residences puts you within easy reach of schools, shops, restaurants, bars and cafes, sheltered in a pocket of tranquillity.
Being the FIRST development to come to the area in 4 years combined with award winning developer, Capital Developments, who have a reputation for integrity, quality, and execution, Olive Residences is ideal for investors and end-users alike. Residents who call Olive home will enjoy living in close proximity to downtown Toronto but removed from the hustle and bustle of the city centre while having immediate access to world-class transit options, impeccable lifestyle amenities, and more!
Olive Residences Location
UNPRECEDENTED LUXURY LIVING
Capital Developments aims to bring to the neighbourhood what it’s been missing – a luxury residence fit for families, down-sizers, and young professionals alike. Discover contemporary architecture, expansive suites and a slate of upscale amenities designed to entice your passion and stimulate your senses. If you live for the luxury of convenience, connection and smart design, you’ll love Olive Residences.
Amenity spaces may include a kids imagination space, party room, golf simulator, yoga studio, gym, dog wash station, outdoor terrace, barbecue station, outdoor bar, outdoor fire pit, and outdoor dining area and more.
The developer is renowned for creating superior floor plans with little to no wasted space. While they have not revealed their features and finishes yet, judging by their eye for detail in their previous projects, we can expect suite features that may include 10′ high-smooth-finished ceilings in select rooms, engineered laminate flooring with acoustic underlay, glass showers, integrated appliances, premium countertops, and custom-designed contemporary kitchen cabinetry and bathroom vanities.
LOCATION, LOCATION, LOCATION
Right at the edge of the TTC, Yonge & Finch has bloomed from a suburban neighbourhood into a highly diverse hub for urban life, with exceptional access to transit. Within a 3 minute walk, residents will arrive at Finch subway station where the choice of connecting to your destination via train, TTC Bus, the VIVA bus, and GO Transit are conveniently up to you. Highways 401 and 404 are also both a short distance away. It’s no wonder why Olive Residence has a perfect Transit Score of 100.
Local grocery stores include a Loblaws Superstore, rivalled only by the local Metro. A solid location for one-stop shopping, Metro is open 24 hours, 7 days a week. International grocery stores are also available such as the Super Khorak Supermarket, a source for Persian hot foods and groceries and the Korean grocery H-mart, one of the neighbourhood’s low-profile favourites.
While residents living nearby are just a short subway trip away from the best of midtown and downtown Toronto, they can also enjoy access to terrific shops and restaurants without ever having to venture south of Sheppard. The stretch of Yonge between Finch and Sheppard has matured into one of the city’s most popular destinations for authentic and fusion Asian restaurants and a plethora of nightspots.
About the Developer
With a long list of design-forward iconic developments across Canada, the international beginnings of CD tell the full story. Founded by Todd Cowan and Jordan Dermer after a lengthy development career across Europe.
Today Capital Developments is building on that history of success. Along with its partners, CD has embarked on a number of exciting new residential and retail projects in Toronto and Montreal where it is involved in the development of over 2,000 condominium units with complementary retail.
Olive 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.
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.