Sugar Wharf Condos
About Sugar Wharf Condos
Sugar Wharf is a multi-phase mixed-use redevelopment by Menkes of the 4.7-hectare LCBO Lands at 100 Queens Quay East encompassing five condo towers, as well as a purpose-built rental building. The tallest of the towers will soar 90 storeys, and the units in the development will range from 325 square feet up to 916 square feet.
Sugar Wharf Condos Details
|Developer||Menkes Developments Ltd.|
|Address||95 Lake Shore Boulevard East, Toronto, ON|
|Number of Storeys||80|
|Number of Units||1927|
|Priced From||$410,990 to over $1,010,990|
Sugar Wharf Condos Location
Where the LCBO has long had its Toronto headquarters, a new neighbourhood is being built. The Lower Yonge Precinct, as it is called, is bounded by Lake Shore Boulevard East to the north, Lower Jarvis Street to the east, Queens Quay East to the south, and Yonge Street to the west.
Once a thriving industrial centre, the area has long been overlooked, but that is set to change as it is slated for a major mixed-use revitalization. The Transit improvements will play no small part in this. There are plans for an East Bayfront Light Rail Line on Queens Quay that would pass right by Sugar Wharf. The line would link the Lower Don Lands to the east with Union Station.
The community will also be added to the 30-kilometre underground PATH system which features 1,200 shops and services and allows pedestrians to travel underground to Union Station and beyond.
While more infrastructure is on the way, the existing site isn’t exactly isolated as it is. To the south, the Gardiner Expressway runs parallel to Queens Quay, and the foot of Yonge Street is just to the west. Sugar Wharf is just a four-minute drive from downtown or a seven-minute bike ride.
As for the views, this is a direct waterfront community overlooking the shores of Lake Ontario, including sandy Sugar Beach which is located just to the southwest of Sugar Wharf.
Given its proximity to the downtown core and nearby attractions such as the St. Lawrence Market, it should come as no surprise that 100 Queens Quay East boasts a perfect ransit scores and a Walk Score of 90. The bike score is pegged at 71, but look for this to increase as the immediate area is redeveloped.
Sugar Wharf Condos Amenities
Projects of this size and scope typically bring considerable amenities to an area, and that is the case with Sugar Wharf. The project is anticipated to draw 8,000 residents and 4,500 to the area, and when they arrive, they will find a brand new school, an expansive public park and many new office and retail options. The LCBO will be moving into the third floor of a new office building and also occupy 25,000 square feet of retail space on the ground floor for a new flagship location.
The first two-tower phase of Sugar Wharf, which is the work of esteemed firm architectsAlliance, will include an outdoor terrace and lounge, fire pit and barbecues, gym facilities, and a theatre room. Upscale retail will be located in a shared podium.
About the Developer
The late Murray Menkes founded his epinonimous real estate company in 1954, and since then it has come to be among the biggest developers in Toronto. While the company initially focused on constructing single-family homes, that changed over time. It didn’t take long for Menkes to start building master-planned communities, and today, Menkes is a major force in the Greater Toronto Area’s condo, office, and industrial markets operating as a fully integrated multidisciplinary real estate firm.
Menkes was also integral in building up North York’s core, and the iconic mixed-use Empress Walk condos, located opposite Mel Lastman Square on Yonge Street. As a developer, Menkes is an award winner. The company took home Best New Community Built at this year’s BILD Awards for its Harbour Plaza and One York project and was a finalist at the latest Tarion Homeowners’ Choice Awards in the high-rise category. Previous awards include the Green Development Leadership Award of Excellence in 2016 for Menkes’ The Enclaves of Upper Canada in Halton Hills.
Sugar Wharf Condos 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.