nationalpost.com newcondos...THE MERCER Builder/developer Graywood Developments and Beaverhall...
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PH2 nationalpost.com NATIONAL POST, SATURDAY, DECEMBER 17, 2011 POST HOMES I f their New Year’s resolu- tions involved selling more suites, Toronto’s condo- minium developers got that and more in 2011. While the final sales numbers for the year are still to be determined, the Greater Toronto Area’s condo market has already reached rec- ord highs this year, beating out 2007’s former record of approxi- mately 22,500 condo sales. Ben Myers, executive vice- president and editor of mar- ket research firm Urbanation, the Toronto CMA should see high-rise sales of about 26,000 to 27,000 units by year’s end. But what’s the story behind the numbers? What were the biggest trends that kept the To- ronto condo market hopping through 2011? 1. The expansion of the 905 “The pricing of low-rise hous- ing in those markets is really shooting up,” Mr. Myers says. The answer? More condo growth, with larger develop- ments. They’re the types of projects the 905 has been short on before: large sites with great amenities and top-rate fea- tures. In other words, they’re what Mr. Myers calls “sexy” — and they’re certainly getting attention from buyers. 2. Less low-rise When the Building Industry and Land Development Association (BILD) released its latest sales numbers (supplied by RealNet Canada), the discrepancy was clear. From January to Octo- ber, there had been 15,056 low- rise sales throughout the GTA, compared with 23,747 high-rise purchases. “The numbers speak for themselves. There’s a short- age of low-rise inventory,” says Joe Vaccaro, acting president of BILD. Municipalities are en- couraging intensification, and the result is less new-build low- rise and more new condomin- ium units. “All of these green- belt legislations are putting a hold on supply in that market,” says Mr. Myers. “And obviously when there’s less supply, pricing goes up even quicker, too.” 3. Smaller suites Sometimes it’s just a numbers game. With the price-per-square foot in- creasing in condos throughout the GTA, especially downtown, developers are opting to offer smaller suites to keep prices affordable for first-time buy- ers. “The more small suites, the more units you can fit into some of these buildings,” says Mr. Myers. “That translates into more sales as well.” 4. Investor action Investors are coming out to the sales centres in droves; in fact, some buildings have been 90% to 100% investor purchased. “It really reflects Toronto’s place in the global economy,” says Mr. Vaccaro. “It has been recog- nized as a safe place to invest, and we’re seeing that inter- nationally — money is mak- ing its way into Toronto. And real estate is a hard asset that foreign investors support and have an appreciation for.” So what can we expect from 2012? At press time, Mr. Vaccaro expected anywhere between 40 and 80 new condo projects to be released through the new year. Mr. Myers was still work- ing on his final forecast, but offered his best estimate so far. “I don’t think we’re going to get another record next year but I certainly expect that things will continue on a fairly rapid pace,” he says. “Off the top of my head, I’m expecting probably around 20,000 sales.” National Post Sales tower above records Preliminary results indicate best year yet L ISA V AN DE V EN Market News This is a suite that comes alive at night — the model at The Uptown Residences was designed for the nocturnal set: a lively couple in their forties, perhaps. “It’s an entertainment apartment,” says interior designer Alex Chapman, principal creative with Union31. “It’s interconnected and feels really clean, but at the same time has a nighttime warm feeling.” To echo the building’s Art Deco design, Mr. Chap- man chose a colour palette from the era. Taupe, black, white and dark woods are predominant in the 43rd-floor, 1,270-square-foot suite. Chrome accents and pops of yellow add charm. “We wanted the suite to talk to a slightly more mature and sophisticated purchaser,” Mr. Chapman explains. Remaining suites at The Uptown Residences — a Pemberton Group project at Bloor and Balmuto streets — range in size from 1,270 to 2,110 sq. ft. and in price from the mid $900,000s to $1.66-million. The sales office is open by appointment only; call 905-326-4100 or visit pembertongroup.com. Deco drama Exuding elegance, the Uptown Residences speaks to the warmth of the era By Lisa Van de Ven 1 2 3 4 5 6 1 “We wanted to bring in sparkle,” Mr. Chapman says, re- ferring to the chrome in both the lamp and the coffee table from Elte, which shine against the room’s dark wood. “There’s a nice interplay between the two,” the designer says. 2 A pair of elegant two- toned taupe chairs in a simple geometric pattern — armless to keep the space open — recede into the dark background and don’t call too much attention to themselves. 3 Dark meets light in this striking wall feature where a pair of sharp sconces flank the fireplace. The darker elements throughout lend cohesiveness and warmth to the space. 4 A custom-made off-white tuxedo sofa stands out in the dark room; the same fabric is on a banquette in the dining area, “which links the whole space,” the designer says. 5 Contrast was the goal for this dramatic black-and-white dresser. It also complements the moody piano-themed artwork. “The scale of it works great in the space,” Mr. Chapman says. 6 Mr. Chapman achieved a sense of drama in the master bed- room with this all-encompass- ing wall covering from Crown Wallpaper + Fabrics. It combines graphic notes of silver, white and grey for “a nice lively energy,” the designer explains. FOR SALE Price range: From the mid $200,000s to over $900,000 Location: King Street West and John Street, Toronto THE MERCER Builder/developer Graywood Developments and Beaverhall Homes. What’s new The building is now 75% sold. Building 33 storeys Suites Studio, one-bedroom, one-bedroom-plus-den, two- bedroom, two-bedroom-plus- den and three-bedrooms Size 363 to 1,133 square feet Occupancy 2014 Features Nine- or 10-foot smooth-finish ceilings; plank engineered hardwood floors; glass, subway or marble mosaic tile kitchen back- splashes; Energy Star appli- ances; slab marble bathroom countertops. Amenities A fitness centre, party room, screening room, sauna, hot tub, lounge terrace. Standouts Get $15,500 back with a two-bedroom purchase or $17,500 on a two-bedroom- plus-den. Sales office 8 Mercer St., Toronto. Open Monday to Thursday from noon to 6 p.m. and weekends from noon to 5 p.m. Call 416-597-6940 or visit themercer.ca. L.V., National Post Price range: $319,900 to $1.4-million Location: King Street West and Bathurst Street, Toronto SIX50 KING WEST CONDOMINIUMS SIX50 King West Condominiums will bring 236 condo units, six townhouses and new commercial space to King West. It will have two connected buildings by Core Architects; one will face King, the other Bathurst. Builder/developer Freed Developments What’s new Occupancy is about to begin very soon. Building 10 and 16 storeys Suites Studio, one-bedroom, one-bedroom-plus-den, two- bedroom, two-bedroom-plus- den and penthouse layouts Size 553 to 2,005 square feet Occupancy January 2012 Features Pre-finished engin- eered hardwood floors, floor- to-ceiling windows, exposed concrete ceilings. Amenities A communal courtyard Standouts Built to LEED standards for green building. Sales office 600 King St. W., Toronto. Open Monday to Wednesday noon to 6 p.m., Thursday noon to 7 p.m., Friday noon to 6 p.m. and weekends noon to 5 p.m. Call 416-360-0600 or visit six50king.com. L.V., National Post new condos TODAY’S CONDOS • SITES TO SEE (NOT TO SCALE!) SIX50 GOING, GOING Cranes move out soon, appliances start moving in. MERCER ENTERTAINMENT DISTRICT Hurry in — discounts available for buying, now! UPTOWN RESIDENCES MODEL SUITE Dark and dramatic, perfect for your nightlife.
Transcript of nationalpost.com newcondos...THE MERCER Builder/developer Graywood Developments and Beaverhall...
PH2 nationalpost.com NATIONAL POST, SATURDAY, DECEMBER 17, 2011P O S T H O M E S
I f their New Year’s resolu-tions involved sellingmoresuites, Toronto’s condo-
minium developers got thatand more in 2011. While thefinal sales numbers for the yearare still to be determined, theGreater Toronto Area’s condomarkethas already reached rec-ord highs this year, beating out2007’s formerrecordofapproxi-mately 22,500 condo sales.
Ben Myers, executive vice-president and editor of mar-ket research firm Urbanation,the Toronto CMA should seehigh-rise sales of about 26,000to 27,000 units by year’s end.
But what’s the story behindthe numbers? What were thebiggest trends that kept the To-ronto condo market hoppingthrough 2011?1. The expansion of the 905“The pricing of low-rise hous-ing in those markets is reallyshooting up,” Mr. Myers says.The answer? More condogrowth, with larger develop-ments. They’re the types ofprojects the 905 has been shorton before: large sites with greatamenities and top-rate fea-tures. In other words, they’rewhat Mr. Myers calls “sexy”— and they’re certainly gettingattention frombuyers.2. Less low-rise When theBuilding Industry and LandDevelopment Association(BILD) released its latest salesnumbers (supplied by RealNetCanada), the discrepancy wasclear. From January to Octo-ber, there had been 15,056 low-rise sales throughout the GTA,compared with 23,747 high-risepurchases. “Thenumbers speakfor themselves. There’s a short-age of low-rise inventory,” saysJoe Vaccaro, acting presidentof BILD. Municipalities are en-couraging intensification, andthe result is less new-build low-rise and more new condomin-ium units. “All of these green-belt legislations are putting ahold on supply in that market,”says Mr. Myers. “And obviouslywhen there’s less supply, pricinggoesupevenquicker, too.”3. Smaller suites Sometimesit’s just a numbers game. Withthe price-per-square foot in-creasing in condos throughouttheGTA, especially downtown,developers are opting to offersmaller suites to keep pricesaffordable for first-time buy-ers. “The more small suites,the more units you can fit intosome of these buildings,” saysMr. Myers. “That translatesintomore sales aswell.”4. Investor action Investorsare coming out to the salescentres in droves; in fact, somebuildings have been 90% to100% investor purchased. “Itreally reflects Toronto’s placein the global economy,” saysMr. Vaccaro. “It has been recog-nized as a safe place to invest,and we’re seeing that inter-nationally — money is mak-ing its way into Toronto. Andreal estate is a hard asset thatforeign investors support andhave an appreciation for.”
So what can we expect from2012?Atpress time,Mr.Vaccaroexpected anywhere between 40and 80 new condo projects tobe released through the newyear. Mr. Myers was still work-ing on his final forecast, butoffered his best estimate so far.“I don’t think we’re going to getanother record next year but Icertainly expect that things willcontinue on a fairly rapid pace,”he says. “Off the top ofmy head,I’m expecting probably around20,000 sales.”
National Post
SalestoweraboverecordsPreliminary
results indicatebest year yet
LISA VAN DE VEN
Market News
This is a suite that comes alive at night — the model at The Uptown Residences was designed for thenocturnal set: a lively couple in their forties, perhaps. “It’s an entertainment apartment,” says interiordesigner Alex Chapman, principal creative with Union31. “It’s interconnected and feels really clean,but at the same time has a nighttime warm feeling.” To echo the building’s Art Deco design, Mr. Chap-man chose a colour palette from the era. Taupe, black, white and dark woods are predominant in the43rd-floor, 1,270-square-foot suite. Chrome accents and pops of yellow add charm. “We wanted thesuite to talk to a slightlymoremature and sophisticated purchaser,”Mr. Chapman explains. Remainingsuites at The Uptown Residences — a Pemberton Group project at Bloor and Balmuto streets — rangein size from 1,270 to 2,110 sq. ft. and in price from the mid $900,000s to $1.66-million. The sales officeis open by appointment only; call 905-326-4100 or visit pembertongroup.com.
Deco dramaExuding elegance, the UptownResidences speaks
to the warmth of the era By Lisa Van de Ven
1
2
3
4
5
6
1 “We wanted to bring insparkle,” Mr. Chapman says, re-ferring to the chrome in boththe lamp and the coffee tablefrom Elte, which shine againstthe room’s dark wood. “There’s anice interplay between the two,”the designer says.
2A pair of elegant two-toned taupe chairs in a simplegeometric pattern — armless tokeep the space open — recedeinto the dark background anddon’t call too much attention tothemselves.
3Dark meets light in thisstriking wall feature where apair of sharp sconces flank thefireplace. The darker elementsthroughout lend cohesivenessandwarmth to the space.
4A custom-made off-white
tuxedo sofa stands out in thedark room; the same fabric is ona banquette in the dining area,“which links the whole space,”the designer says.
5Contrast was the goal forthis dramatic black-and-whitedresser. It also complements themoody piano-themed artwork.“The scale of it works great inthe space,”Mr. Chapman says.
6Mr. Chapman achieved asenseofdrama in themasterbed-room with this all-encompass-ing wall covering from CrownWallpaper + Fabrics. It combinesgraphic notes of silver, white andgrey for “a nice lively energy,” thedesigner explains.
FOR SALE
Price range: From themid$200,000s to over $900,000Location: King StreetWestand John Street, Toronto
THE MERCERBuilder/developerGraywood Developmentsand Beaverhall Homes.What’s new The building isnow 75% sold.Building 33 storeysSuites Studio, one-bedroom,one-bedroom-plus-den, two-bedroom, two-bedroom-plus-den and three-bedroomsSize 363 to 1,133 square feetOccupancy 2014Features Nine- or 10-footsmooth-finish ceilings; plankengineered hardwood floors;glass, subway or marblemosaic tile kitchen back-splashes; Energy Star appli-ances; slab marble bathroomcountertops.Amenities A fitness centre,party room, screening room,sauna, hot tub, lounge terrace.Standouts Get $15,500 backwith a two-bedroom purchaseor $17,500 on a two-bedroom-plus-den.Sales office 8 Mercer St.,Toronto. Open Monday toThursday from noon to 6 p.m.and weekends from noon to 5p.m. Call 416-597-6940 or visitthemercer.ca.
L.V., National Post
Price range: $319,900 to$1.4-millionLocation: King StreetWest andBathurst Street, Toronto
SIX50 KING WESTCONDOMINIUMSSIX50 King WestCondominiums will bring 236condo units, six townhousesand new commercial spaceto King West. It will have twoconnected buildings by CoreArchitects; one will face King,the other Bathurst.Builder/developer FreedDevelopmentsWhat’s new Occupancy isabout to begin very soon.Building 10 and 16 storeysSuites Studio, one-bedroom,one-bedroom-plus-den, two-bedroom, two-bedroom-plus-den and penthouse layoutsSize 553 to 2,005 square feetOccupancy January 2012Features Pre-finished engin-eered hardwood floors, floor-to-ceiling windows, exposedconcrete ceilings.Amenities A communalcourtyardStandouts Built to LEEDstandards for green building.Sales office 600 King St.W., Toronto. Open Monday toWednesday noon to 6 p.m.,Thursday noon to 7 p.m.,Friday noon to 6 p.m. andweekends noon to 5 p.m.Call 416-360-0600 or visitsix50king.com.
L.V., National Post
newcondos
TODAY’SCONDOS •SITESTOSEE (NOTTOSCALE!)
SIX50GOING, GOINGCranes move outsoon, appliancesstart moving in.
MERCERENTERTAINMENT
DISTRICTHurry in —
discounts availablefor buying, now!
UPTOWNRESIDENCESMODEL SUITEDark anddramatic, perfectfor your nightlife.
