The Toronto Condo Market this Week 05/15/15
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The One at Yonge & Bloor, The Mirvish Village Public Market, and The Bartholomew in the revitalized Regent Park are all preparing to completely transform their respective neighbourhoods. Whether it’s an 80-storey tower to raise the bar in an already highly sought for area, an urban village concept to cater to a growing population, or yet another popular installment in a completely transformed neighbourhood, developers are looking to change the landscape of Toronto’s most sought after neighbourhoods.
Condos and townhomes in the GTA swell hitting the highest increase in sales since last year with increases up to 29%. The average price of a home in the City of Toronto hits $1,056,114, up 9.2% from last year.
Utilize the transitional spaces in your condo, regardless of size, and remember kitchen is key when creating a five-star luxury environment for yourself and guests.
Jared Harris, “Lance Pryce” from Mad Men shines light on Toronto’s limited track record on heritage preservation saying everything in Toronto “looks the same”.
Greenland announces that a new luxury hotel, with designs by world acclaimed Munge Leung, will reside within the site of King Blue. The seven storey boutique hotel will feature 122 rooms with spacious suites, a rooftop terrace, pool and lounge, and on-site conference facilities.
New York has finally outpaced Toronto by 701 residential suites, with 38,815 multifamily units under construction compared to Toronto’s 38,114 units. While Toronto has more units per capita, all of New York’s buildings are taller than even Toronto’s tallest condo currently in development, The One at Yonge and Bloor.