The Bread Company Condos
|Developer||Lamb Development Corp.||Address||195 McCaul Street, Toronto, ON|
|Neighbourhood||Kensington Market – Chinatown||Number of Storeys||19|
|Number of Units||266||Occupancy Date||TBA|
|Maintenance Fees||TBA||Priced From||$400,000’s|
About The Bread Company Condos
The Bread Company Condos is luxury living at 195 McCaul Street in the Heart Of Downtown Toronto. A new pre-construction condo project by Lamb Developments, the Bread Company Condos is a namesake to the beloved Silverstein’s Bakery that operated at this location for nearly 100 years.
Certainly, Bread Company Condos is one of the city’s most anticipated condominium developments. The building is a spectacular modern mid-rise by architect Alliance’s Peter Clewes.
The Bread Company Condos Location
The Bread Company Condos will be located in the heart of Downtown Toronto, just south of College Street, west of University Avenue, at 195 McCaul Street. This provides Bread Company residents with a close walk to either Queen’s Park or St. Patrick TTC Subway Station.
In the heart of the Health Sciences District, Bread Company Condos is steps away from the country’s best Hospitals, as well as University of Toronto, the Eaton Centre shopping mall, Kensington Market and subway stations. As well, the pièce de résistance, the eclectic Baldwin Village is just a few steps from Bread Company Condos’ front door.
Nearby The Bread Company Condos
• University of Toronto
• Eaton Centre
• Kinto Ramen
• Krispy Kreme Cafe
• LCBO; and much more.
About the Developer
Lamb Development Corp. (LDC) was founded in 2001 by Toronto’s top condominium broker Brad J. Lamb to directly participate in the development of stylish, urban condominium projects.
At that time, with over 13 years of experience in consulting, marketing, and the selling of more than 100 of Toronto’s most innovative and exciting projects, Mr. Lamb wanted to bring something different to the development world. Since then, he has done just that; completing 19 developments, approximately 3,200 suites for over $1.3B. Lamb Development Corp has 18 projects and 4,500 units currently in development or under construction.
The Bread Company 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:
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.