GTA New Condo Guide, Jan 17, 2015

Jan 17 - 31, 2015 Volume 19 Issue 2

Chaz Yorkville Model Suite Bellair Collection

MOVE IN THIS SPRING Visit Our Model Suite. Book Your Appointment Today!

416.922.0045 | ChazYorkville.com INSIDE THIS ISSUE

TORONTO’S UNFLINCHING CONDO MARKET

5 THINGS TO WATCH IN REAL ESTATE IN 2015

Q&A WITH DESIGNER JONATHAN ADLER

DOCKING SOON

Standing room only.

Redefining life on the water’s edge.

Tridel®, Tridel Built for Life® are registered trademarks of Tridel and used under license. ©Tridel 2015. All rights reserved. E.&O.E. January 2015.

6 NEW CONDO GUIDE JANUARY 17 - 31, 2015

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PRICES AND SPECIFICATIONS SUBJECT TO CHANGE. IMAGES ARE ARTIST’S CONCEPT. E.&O.E. BROKERS PROTECTED

EDITOR’S NOTE

TAKE ADVANTAGE, WHILE YOU CAN!

SUSAN LEGGE Editor-in-chief

Susan.Legge@wall2wallmedia.com Follow me on Twitter at Twitter.com/SusanLegge Like us on Facebook Search: Condo Guide

The Bank of Canada’s latest announcement to hold its interest rate target at one per cent does not come as a surprise. The rate has been holding at that level since September 2010, which is good news if you’re in the market for a mortgage.

There are many excellent mortgage products available from banks and brokers that will suit your individual needs, and could well be lower than posted bank rates. With a pre-approval in hand, you’re protected if rates rise; if they go down, you’ll likely get an even lower rate. A pre-approval can be a win-win situation for shoppers, since it means you don’t have to wait to get financing approval on a home when you put in an offer. This is an especially good tool to have when markets are hot. Removing the “conditional on financing” clause could mean your offer is accepted first since you already have your financing in place.

So when will rates rise? It’s anyone’s guess, but most experts agree it’s unlikely there will be any significant movement in 2015.

However, we can’t assume that will be the case, and you shouldn’t wait too long to get pre-approved for a mortgage. It can take a few days. Many lenders offer online pre-approvals to make the process faster and easier.

Start the new year off right by taking advantage, while you still can.

THE “NEW” DREAM HOME

LYDIA MCNUTT Editor

Lydia.McNutt@wall2wallmedia.com Follow me on Twitter at Twitter.com/LydiasTweets

2 NEW CONDO GUIDE JANUARY 17 - 31, 2015

With decreasing housing stock in Toronto and increasing population, demand and prices, it looks like there are only two places for people to go – out, or up!

This reality is part of the reason condominiums have gained popularity among homebuyers these days – and not just first-time buyers. More and more, we’re seeing condos become a top choice for families, thanks to their prime locations, convenient lifestyle and the affordability they offer.

There’s a new dream home on the market – “new” not just in terms of construction, but in terms of concept. Home builders today are designing condos with efficient layouts and smart features – and they’re not just small and sweet spaces anymore either. The rising trend of three-bedroom suites welcomes those who choose to call condos “home” as their family grows and their needs change through the years.

When hunting for your next home, think about what’s most important to you – now, and in the future.

A successful home purchase will balance price, location and amenities. Do your research, explore all avenues – downtown and out-of-town – and see what your budget can buy. Take your time, know what’s important to you, and you’ll find happiness and a new home that you’ll love.

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NEW CONDO GUIDE

CONTRIBUTORS PRESIDENT, WALL2WALL MEDIA

Jacqueline Hill EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan Legge DIRECTOR OF SALES, NATIONAL

Josh Heppner ASSOCIATE PUBLISHER SWO NEW HOMES

Susan Maxwell ART DIRECTOR

Daiana Garay EDITOR

Lydia McNutt CONTRIBUTING EDITORS

BILD REPORT

LEGALLY SPEAKING

DESIGNER ADVICE

Bryan Tuckey

Jayson Schwarz

Yanic Simard

Bryan Tuckey is president and CEO of the Building Industry and Land Development Association (BILD) and can be found on Twitter (twitter.com/bildgta), Facebook (facebook.com/ bildgta), Youtube (youtube.com/bildgta) and BILD’s official blog (bildblogs.ca).

Jayson Schwarz LL.M is a Toronto real estate lawyer and partner in the law firm Schwarz Law LLP. Visit the website at schwarzlaw.ca or email info@schwarzlaw.ca.

Yanic Simard is New Condo Guide’s design editor, principal designer of the award-winning Toronto Interior Design Group (tidg.ca), and regular guest expert on City’s Cityline. Check out Yanic’s accessory line, Yanic Simard Selected, online at ysselected.com

Sara Duck Wayne Karl Elisa Krovblit JUNIOR EDITOR

Sonia Bell DESIGN EDITOR

Yanic Simard

SALES MANAGER

Conni Robinson SENIOR ACCOUNT EXECUTIVE

Dionne Fraser dionne.fraser@wall2wallmedia.com SENIOR ACCOUNT EXECUTIVE

Nina Downs nina.downs@wall2wallmedia.com

SALES & MARKETING CO-ORDINATOR

Terry Bassett ADMINISTRATIVE ASSISTANT

Antoinette Jackson PRODUCTION MANAGER

Bala Gnanapandithan CONDO PRO

STAT CHAT

Barbara Lawlor

Ben Myers

Barbara Lawlor is president and CEO of Baker Real Estate Inc., and an in-demand columnist and speaker. A member of the Baker team since 1993, Barbara oversees the marketing and sale of condo developments in the GTA and overseas.

Ben Myers is senior vice-president of Market Research and Analytics at Fortress Real Developments.

Follow his blog posts and commentary on the Canadian housing market at fortressrealdevelopments. com/news or follow him on twitter at @BenMyers29

INVESTOR ADVICE

Andrew la Fleur

Andrew la Fleur is an award-winning realtor with Re/Max. Andrew’s expertise is in helping investors make money in the Toronto condo market. Visit TrueCondos.com/ NewCondoGuide for a free gift. Contact Andrew at 416.371.2333 or andrew@truecondos.com

PRODUCTION CO-ORDINATOR

Sandra Hanak-Vujnovic GRAPHIC DESIGNERS

Viosa Barileva, Miguel Cea, Hannah Yarkony Sandra Hanak-Vujnovic, Mike Terentiev

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Gail Vaz-Oxlade is the host of Til Debt Do Us Part, author of Debt Free Forever and blogs daily at gailvazoxlade.com. Follow Gail on Twitter at twitter.com/GailVazOxlade

Chuck Resnick is vice-president of marketing and operations at Two Men And A Truck – Canada, a division of Heron Capital Corp. He can be reached by visiting online at twomen.ca and by calling 416.204.0007.

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Please recycle this magazine! Wall2Wall Media participates in the Partners in Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over 2.5 million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.

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BILD REPORT

Giving back to the community

By Bryan Tuckey

T

hroughout the year, we gather as an industry to raise funds and awareness for our community partner, Habitat for Humanity GTA. Our 11-year partnership with Habitat is a great source of pride for the Building Industry and Land Development Association because we’re both in the business of building homes people can afford and we are both strong advocates of affordable home ownership.

More than 400 industry professionals recently attended our association’s sixth annual Party for Humanity, helping to raise much-needed funds for our community partner that works hard to end the cycle of poverty by building affordable homes for low-income families.

The memorable event was organized by a volunteer committee of BILD members as a celebration of the leadership of BILD Chair Steve Upton and his dedication to promoting and supporting BILD’s partnership with Habitat during his two-year tenure.

It also gave members the opportunity to thank Steve for all of his hard work, as he will be passing the gavel to his First Vice Chair Steve Deveaux.

Steve has been the voice of the industry on a number of issues over the past two years, providing leadership and valuable knowledge to critical issues that affect new-home owners across the GTA. Most recently, he helped BILD become the sole owner of the National Home Show, the Toronto Fall Home Show and the GTA Home Show. It was a strategic acquisition and a bold step for the future vitality of our 93-year-old association. If you’ve ever attended one of our home shows, you know that it’s already a destination come the fall or springtime and it’s only going to get better from here.

Steve also worked hard to reinforce our working relationship with all levels of government, bringing information about how municipal and provincial policies affect homebuyers and communities across the region. He was involved in numerous reviews, consultations and education seminars in the lead up to both the provincial and municipal elections.

Steve was named to Mayor-elect John Tory’s Transition Advisory Council and will act as the voice of the industry and new-home buyers living in the City of Toronto. His appointment is a testament to his professional accomplishments and outstanding contributions of leadership at BILD.

Our 11-year partnership with Habitat is a great source of pride because we’re both in the business of building homes people can afford and we are both advocates of affordable home ownership 10 NEW CONDO GUIDE JANUARY 17 - 31, 2015

Steve was also instrumental in our recent advocacy efforts to amend the building code to allow the construction of wood-frame buildings up to six storeys. The change took effect Jan. 1 to introduce midrise homes to Ontario. This new housing type will bring additional choice to new-home buyers looking to buy a safe, quality home in the GTA. We have been advocates of this progressive building option and we know it will lead to the construction of new vibrant communities for newhome buyers and employers alike.

Our association has had many successes and accomplishments to celebrate over the past two years.

I look forward to celebrating the success of our incoming chair, Steve Deveaux, over the next two years.

Bryan Tuckey is president and CEO of the Building Industry and Land Development Association and a land-use planner who has worked for municipal, regional and provincial governments. Follow on Twitter @bildpres or @ bildgta, facebook.com/bildgta, and bildblogs.ca.

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JANUARY 17 - 31, 2015 NEW CONDO GUIDE 11

CONTENTS

JAN 17 – 31, 2015

VOLUME 19

ISSUE 02

COVER STORY

Yorkville 20 CHAZ New appointment-only model suite dazzles

COLUMNS / NEWS / HOMEBUYERS’ HELP 2

Editor’s Note

4

Contributors

10 BILD Report Giving back to the community

by Bryan Tuckey

14 CMHC Report Toronto housing starts trending lower in December 16 Stat Chat Toronto’s unflinching condo market

by Ben Myers

18 Investor Advice Recession-proofing your investment condo

by Andrew la Fleur 12 NEW CONDO GUIDE JANUARY 17 - 31, 2015

22 In The News High-end home sales see double-digit increases

by Lydia McNutt

26 Fundamentally Speaking The art of predicting home prices

by Wayne Karl

30 In The News Personal financial confidence takes a hit entering 2015 32 Hot Dates GTA events to check out 34 Condo Pro Condo considerations, inside and out

by Barbara Lawlor

42 In The News Puck drops on new ice rink in Regent Park 44 Marketplace 2015 shopping wish-list

by Sara Duck

50 Make Your Move Moving etiquette

by Chuck Resnick

54 Money Matters How to fix a bad credit score

by Gail Vaz-Oxlade

56 Legally Speaking Closing costs 101

by Jayson Schwarz

58 Style File Cooking up great style in the kitchen

by Jane Lockhart

62 Homebuyers’ Help Five things to watch in Canadian real estate in 2015

by Wayne Karl

68 Taxing Issues Are you ready to buy a home?

by Henry Choo Chong

70 Home Sweet Home Curing that case of buyer’s remorse

by Lydia McNutt

72 In The News Another year, another record for Toronto condo rentals

74 In The News Sales success: The Residences of 488 University Avenue is 75% sold!

88 Homebuyers’ Help Planning your new condo purchase: Budget and options

76 Q&A It’s a colourful life: We chatted with designer Jonathan Adler

92 Designer Advice Under-foot focus

by Sara Duck

80 Condo Watch 416 Previews, new releases and grand openings in the 416 86 In The News Making a mark on midtown takes a great partnership: Tridel and Beaux Properties celebrate the start of construction at 101 Erskine

by Anthony Jong

by Yanic Simard

102 Condo Watch 905 Previews, new releases and grand openings in the 905 106 Finances Snowbirds: Flee the deep freeze, but not the tax squeeze

by Wayne Karl

113 Condo Buyers’ Resource Section 118 Advertiser Index

CONDO PROFILES

38

LIBERTY DEVELOPMENT CORP. Terrace on Danforth Close to everything – far from ordinary

81 48

STREETCAR Upper Beach Village A hidden gem neighbourhood that has it all!

URBAN CAPITAL The Ravine York Mills’ new landmark, where city meets nature JANUARY 17 - 31, 2015 NEW CONDO GUIDE 13

CMHC REPORT

Toronto housing starts trending lower in December

H

14 NEW CONDO GUIDE JANUARY 17 - 31, 2015

TORON TO CM A HOUSING STA RTS 80 70 60 Thousands of Starts

ousing starts in Toronto Census trended lower at 25,509 units in December compared to 25,537 in November, according to Canada Mortgage and Housing Corp. (CMHC).

“Toronto housing starts stabilized in December after trending lower for most of the second half of the year. Toronto posted 28,929 new housing starts in 2014, a decline of 14 per cent from 2013, which is mainly attributable to a downturn in condominium apartment preconstruction sales between mid-2012 and mid-2013,” says Andrew Scott, CMHC’s Toronto senior market analyst. “Nonetheless, stronger preconstruction sales in 2014, supportive economic conditions and mortgage rates near historic lows will likely translate into higher starts in 2015 for the GTA”.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

The stand alone monthly SAAR was 26,398 units in December, up from 24,015 units in November.

The increase was the result of more apartment starts this month.

50 40 30

26.4 25.5

20 10 0 December 2012

December 2013

December 2014

Housing Starts, SAAR Housing Starts Trend Line (6-month moving average)

PR ELI MI NA RY HOUSING STA RTS DATA DECE MBE R 2014 Toronto CMA1 Trend2 SAAR

November 2014

December 2014

25,537 24,015

25,509 26,398

December 2013

December 2014

802

690

Actual December — Single-detached December — Multiples December — Total January to December — Single-detached

1,961

1,569

2,763

2,259

9,421

8,830

January to December — Multiples

24,126

20,099

January to December — Total

33,547

28,929

Source: CMHC Census Metropolitan Area The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR).

Detailed data available upon request

1 2

The city of Toronto recorded the highest number of starts in December, made up of mostly apartments. The next highest municipality was Oakville, which saw a large number of apartment units begin construction. This was followed by Milton, where lowrise construction remained on its robust pace.

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Exclusive Listing: CityLife Realty Ltd. Brokerage. Brokers Protected. Illustrations are artist’s concepts. Prices and specifications are subject to change without notice. E.&O.E. Reproduction in any form, without prior written permission of The Daniels Corporation, is strictly prohibited.

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STAT CHAT

Toronto’s unflinching condo market

By Ben Myers

I

’ve been following the Toronto condominium market in minute detail for over a decade, and every few years another obstacle is put in front of it. In every instance, the market has triumphed or overcome these impediments.

In late 2008 and into 2009, housing markets across North America were being ravaged by the turmoil associated with the global economic meltdown that was occurring. The biggest annual price decline experienced by the Toronto CMA resale condominium apartment market during that stretch was 1.7 per cent, according to highrise market research firm Urbanation Inc. By comparison, Las Vegas resale prices fell by 32.9 per cent year-over-year in December 2008 and Phoenix prices dropped 33.9 per cent!

The Toronto condo market survived the introduction of Harmonized Sales Tax, a new land transfer tax, several mortgage rule changes and daily negative headlines, and it’s still going strong. I was certainly worried going into 2014 as new condominium sales in 2013 were at their lowest level since 2004, as per Urbanation. Even that data reality did not act as Kryptonite, as the GTA market in 2014 will likely reach approximately 22,000 new condominium sales when the data is finally tabulated – close to the second-best year ever!

According to RealNet Canada, there were more than 22,181 new highrise condominiums completed in the GTA between January and November of 2014 – an increase of 36 per cent annually. This “glut” of supply was supposed to increase the completed and unabsorbed supply, but no. That has decreased 15 per cent from Nov. 2013 (as per Canada Mortgage and Housing Corp.). In addition, new and resale prices are up, rents for investor-held condos are up, and condo rental transactions are way up (as per Urbanation and the Toronto Real Estate Board). Once again, the bearish narrative has been proven wrong.

It’s about time you ignored the headlines and concentrated on the fact that the Toronto condominium market has been relatively strong for about 17 years! So if you’re waiting for a market correction, be prepared to potentially sit on the sidelines for another 17 years. Make 2015 the year you buy your first

It’s about time you ignored the headlines and concentrated on the fact that the Toronto condominium market has been relatively strong for about 17 years! So if you’re waiting for a market correction, be prepared to potentially sit on the sidelines for another 17 years.

16 NEW CONDO GUIDE JANUARY 17 - 31, 2015

condominium or invest in real estate for the first time, but have realistic long-term goals in mind.

Forget about being a quick-flipper or a renovation renegade. Check out some of the great new projects at FortressRealDevelopments.com/ projects or if you’re more interested in being a passive real estate investor, I would recommend you check out FortressRealCapital.com.

Happy New Year and happy condo hunting in 2015.

Ben Myers is senior vicepresident of Market Research and Analytics at Fortress Real Developments. Ben assists in evaluating the market and projects that Fortress engages in.

Follow his blog posts and commentary on the Canadian housing market at fortressrealdevelopments.com/ news or follow him on twitter at @BenMyers29

Go on vacation every time you come home That’s what owning Monarch on the waterfront is like.

Monarch offers three landmark condominiums on the sought-after Humber Bay Shores waterfront. Impressive lobbies. Water views. Concierge services. Luxury amenities.

Lounges and rooftop terraces. Nearby bars and restaurants. For resort lifestyle, Monarch has the waterfront covered. Choose Monarch first.

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first date.

Remember when it all started? First love. First memories. First accomplishments. And your first home. For almost a century Monarch has been central to so many important moments in people’s lives. So if you’re looking for a condominium, trust the oldest, strongest, most respected name in Canadian home building.

Choose Monarch. First.

Our Sky Suites lift luxury to a new level Queen West voted by Vogue as the 2nd coolest neighbourhood!

White volumes seemingly hover in mid air. Trees climb up the face of the building, like a forest reaching up the slopes of a mountain.

And the amenities redefine luxe living. Picasso on Richmond is one of Toronto’s most striking architectural statements. It’s under construction now, rising over the heart of Queen West with views of Queen and Peter and the Entertainment District. Picasso on Richmond is very much a part of the celebrated Queen West experience, and is in the heart of the Toronto international Film Festival every year. You can even own a three bedroom suite from the $600’s! A location like no other, right at John and Richmond and just a 5 minute walk to the subway. Where else in downtown can you find space at this level and this price range? Only Picasso on Richmond. And only for now.

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INVESTOR ADVICE

From contract to condo: RECESSION-PROOFING YOUR INVESTMENT

By Andrew La Fleur

investors always buy for the long term. I always encourage my clients to take the long-view approach when buying pre-construction and to plan on renting their unit out for at least one year (preferably more) after the completion of the building.

Flipping before project completion (assignment) is a highly risky strategy and should be considered only as a back-up plan.

With this in mind, you should only buy a pre-construction condo that will provide you with positive or break-even cash flow with the standard 20- to 25-per-cent down payment. If at the current valuation and given current market rates for rents, you cannot reasonably expect to cover all your expenses, then stay away!

If you do your homework before buying by following these two tips, you will be in great shape for years to come.

I

nvesting in a pre-construction condo is not without risk. You are effectively buying a contract with the hope that one day this contract will become a piece of real estate that is worth more than the price you are paying for it today. A lot can happen in those three to five years while your condo is being built. Here are two tips to help ensure your investment is a successful one.

1| Always buy below market value Your goal should always be to buy something that will increase in value, and the best way to do that is to buy something that is priced below the current market value of a similar resale property. For example, if a one-bedroom across the street in a brand new completed building sells at $300,000, and you can buy a similar one-bedroom in a pre-construction condo at $285,000, then you are well insulated from any market fluctuations over the next few years and you are positioned to have a property that is worth more when completed than when you bought it before the shovels hit the ground.

2| Always buy cash-flow positive Investing in real estate is not a get-rich-quick scheme, but it is how most of the world’s wealthiest people have earned their fortunes. The best real estate 18 NEW CONDO GUIDE JANUARY 17 - 31, 2015

Andrew la Fleur is an awardwinning realtor with Re/Max. Andrew’s expertise is in helping investors make money in the Toronto Condo Market.

Visit TrueCondos.com/ NewCondoGuide for a free gift.

Contact Andrew at 416.371.2333 or andrew@truecondos.com

WE SWEAT THE SMALL STUFF.

At Chaz Yorkville, we pay attention to the smallest details. Like building a plywood bracket behind the master bedroom wall to install a flat screen TV. Elegant solid core entry doors to give you an impressive sense of arrival.

Illuminated light switches so you don’t fumble in the dark. Stylish under valance lighting in the bathrooms.

Premium oak wood in the Sky Residences corridors. Lightning fast Rogers fiber optic cable. All this, plus a great location just steps to world-class shopping, dining, culture and the subway. Spectacular Chaz Club in the sky with panoramic views. The best in fitness, recreation and leisure. This is Yorkville living at its finest.

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VISIT THE SALES CENTRE TODAY! CHAZYORKVILLE.COM | 416.922.0045 SALES CENTRE LOCATED AT 101 YORKVILLE AVE. SITE LOCATED AT 45 CHARLES ST. EAST MON. – THURS. & SAT. – SUN.: 12PM – 6PM, FRI & STATUTORY HOLIDAYS: CLOSED EXCLUSIVE BROKER BAKER REAL ESTATE INC. BROKERS PROTECTED. *SPEAK TO A SALES REPRESENTATIVE FOR MORE DETAILS. PRICES AND SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE. ILLUSTRATIONS ARE ARTIST CONCEPT. E&O.E.

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COVER STORY

Envision yourself at CHAZ YORKVILLE NEW APPOINTMENT-ONLY MODEL SUITE DAZZLES

WITH ITS RECENT TOPPING-OFF, TORONTO’S NEWEST ASPIRATIONAL address became a soaring reality, with 47 storeys of distinctive design at Chaz Yorkville. Located in one of Toronto’s most upscale neighbourhoods on a tree-lined side street, this Page + Steele / IBI Group Architects-designed beauty is as extraordinary inside as out, as is evident in the newest model, “Tempo” – an expansive two-bedroom-plus-den suite.

Spread out over 1,213 meticulously planned square feet, Tempo’s highlights include views from two sides, convenient entry foyer and plenty of storage. With inspiration from esteemed design firm Cecconi Simone – including the choice of European-inspired custom finishes – the model suite is gorgeously staged by Lucie and Darren Brand, owners of Toronto Condo Staging, to inspire and excite future residents.

“This model suite was a particular pleasure to work on,” Lucie says.

“Because the builders and Cecconi Simone took such care with the layout, the bathroom fixtures, the flooring choices, the kitchen cabinetry and more,

20

we were able to look at it as a new resident would: a clean space brimming with possibilities and creative options.”

Beyond the foyer, with its convenient coat closet, the suite’s main living space beckons – an entertaining-friendly, light-bathed room with balcony access. The brilliant kitchen features innovative backsplash storage whose glass shelves are echoed in the accessories chosen throughout the suite. “Because the suite gets so much natural light, we took

The brilliant kitchen features innovative backsplash storage whose glass shelves are echoed in the accessories chosen throughout the suite full advantage with reflective and translucent materials like the convex mirrors on the wall and the chromeand-glass dining table,” Darren says.

The master bedroom is destined to be a real retreat, with plenty of space for a queen- or kingsized bed, plus a sitting area, two bedside tables and a dresser. The accessories help create a hotel-like vibe while remaining cohesive with the rest of the space, which is one of the hallmarks of smart condominium design. The large closet reflects the Cecconi Simone team’s attention to the details of everyday life, with a separate storage room within, perfect for hard-to-stow items you don’t need every day, such as seasonal items and sporting goods.

The second bedroom was deliberately decorated to show how well a queen-sized bed and two bedside tables fit. The den, which could easily be a third bedroom, features a three-person sofa that flips down into a double bed to accommodate guests, a sleek favourite of the design team — a modern alternative to a futon, which wouldn’t complement the upscale vibe of the design, and a traditional sofa bed, which are often clunky and uncomfortable.

The Brands say it didn’t take much to make the bathrooms really shine, as the high-end finishes and gleaming fixtures already installed were gorgeous on their own. “In this case, we were really embracing the beauty of the existing design,” Darren says.

The amenities at Chaz Yorkville are just as spectacular, including the Chaz Club – a gorgeous, two-storey residents’ club cantilevered out from the 36th and 37th floors like a jewel in the sky. Flexible lobby entertaining spaces, three state-of-the-art media lounges, fitness and relaxation facilities, guest suites, and a Zen garden sanctuary expand your living space exponentially.

Yorkville awaits! Make your appointment today to see this spectacular model suite, which is not yet open to the general public.

Chaz Yorkville is ready for you, with move-ins starting this spring. Ask about time-limited incentives and how you can put just five per cent down.

Developer 45 Charles Ltd. and Project Manager Edenshaw Homes have realized a design masterpiece here, and a stunning selection of suites remains.

Visit the sales centre at 101 Yorkville Ave., open Saturday to Thursday from noon to 6 p.m. (closed Fridays). Call 416.922.0045 or visit ChazYorkville.com.

JANUARY 17 - 31, 2015 NEW CONDO GUIDE 21

IN THE NEWS

High-end home sales see double-digit increases GTA LUXURY CONDO SALES UP 46 PER CENT YEAR OVER YEAR

By Lydia McNutt

L

uxury listings in the GTA were being snapped up faster that you could say “for sale” in 2014, according to Sotheby’s International Realty Canada’s latest Top-Tier Real Estate Report. Sales of homes priced over $1 million jumped 38 per cent year over year. That upward trend is expected to continue well into 2015, with historically low mortgage lending rates, a solid Canadian economy and an ongoing flow of immigration, migration and foreign investment into Canada’s major markets.

In 2014, a total of 7,527 homes priced over $1 million were sold across the GTA. Homes between $1-2 million saw a 39-per-cent increase over 2013, while sales in the $2-4 million range increased by 38 per cent. Sales in the $4 million category were up by 10 per cent.

The GTA beat out Canada’s priciest market – Vancouver – where luxury home sales rose by 25 pet cent, followed by Montreal at 21 per cent, and Calgary at a more-modest 16 per cent.

The GTA also saw a greater number of multiple offers, fewer days on the market, and a growing number of properties selling above list price in the luxury home sector. Tighter inventory of homes over $1 million bolstered consumer demand and overall economic and market confidence. This, coupled with the affordability of high-end homes relative to the GTA’s income levels, added to the spike in sales – factors that are expected to play a primary role in the luxury home market this year as well.

“With home prices in the conventional market climbing steadily, the entry price for a luxury home in the Greater Toronto Area steadily shifted upward, particularly in the city of Toronto’s central core, where the entry prices for a luxury condominium, attached home and detached single-family properties are approximately $1.5 million, $2 million and $2.5-3 million respectively,” according to the report. “In premier luxury neighbourhoods, prices matched strong demand. For example, in Nov. 2014, the average sale price for a single-family home exceeded $2.2 million in Rosedale-Moore Park and $2.1 million in Forest Hill, while Toronto’s renowned Bridle Path/Sunnybrook/ York Mills district saw average sold prices exceed $3.2 million.”

Sotheby’s International Realty Canada president and CEO Ross McCredie notes, “2014 was another benchmark year for high-end real estate in Canada. . .We expect the market to remain strong in the GTA and Vancouver well into 2015, and for demand to outweigh available inventory, especially when it comes to detached single-family homes. The outlook for Montreal and Calgary is positive, but more conservative – both cities are heading into the year positioned to maintain balance.”

22 NEW CONDO GUIDE JANUARY 17 - 31, 2015

GTA’S LUXURY CONDOS LEAD THE PACK As in 2013, condominium sales in the GTA’s $1-millionplus market saw the greatest gains of Canada’s four largest metropolitan markets in 2014. A total of 394 condominium units over $1 million sold during 2014, a 46-per-cent increase year over year. Specifically, sales in the $1-2 million range reached 330 units, up 53 per cent, while those in the $2-$4 million segment increased by 22 per cent to 60 units. Sales over $4 million dipped slightly from five units sold in 2013 to four units in 2014. Compared to the last six months of 2013, the sale of condos in the $1-2 million and $2-4 million categories increased by 46 per cent and 27 per cent respectively in July 1 to Dec. 31, 2014. During this six-month period, a greater percentage of condominiums sold over $1 million were purchased for above the list price: 33 per cent, 18 per cent and 50 per cent of the $1-2 million, $2-4 million and $4 million plus condos commanded over-asking prices respectively.

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JANUARY 17 - 31, 2015 NEW CONDO GUIDE 25

FUNDAMENTALLY SPEAKING

The art of predicting home prices

By Wayne Karl

W

hen Bank of Canada Governor Stephen Poloz warned in December that Canadian house prices could be overvalued by as much as 30 per cent, he raised more than a few eyebrows.

Toronto-based mortgage expert Calum Ross was among those who cocked his head, saying the Bank was no more qualified to comment on the specifics of housing markets “than the Canadian Real Estate Association is qualified to comment on monetary policy.” Even Canada Mortgage and Housing Corp. chief economist Bob Dugan, a few weeks earlier, said the federal housing agency didn’t see overheating as a problem in any of the markets across Canada. Now you can count Phil Soper, president and CEO of major Canadian realty firm Royal LePage, among those who has a different view.

“Forecasting home prices is a coarse process; some might even refer to it as more art than science,” Soper told New Condo Guide. House prices are determined when individuals agree on the value of a property. “Macro factors such as consumer confidence and employment levels move the tide, but supply and demand at a very local level is what determines the price a property trades at,” Soper says. Note the word “local.” We’ll come back to that.

Canadian home prices have appreciated at about five per cent per year in recent decades. Today, with inflation so low, we should be experiencing appreciation levels below that level.

Soper points out that Royal LePage’s quarterly House Price Survey (HPS) has tracked and reported on home values across Canada for 40 years. It feeds important economic models, such as the Royal Bank’s Affordability Index and the Bank of Canada’s housing reports. In the third quarter of 2014, the HPS showed the average national selling price of detached two-storey homes appreciated 5.5 per cent.

“This is greater than the underlying expansion of Canadian wages and salaries, and somewhat above the real appreciation we have experienced over the years (that five per cent number, adjusted for inflation). However, as a standalone data point, it is hardly reason to declare an emergency. And a 30-per-cent decline in home prices (a la Poloz) would be tantamount to a national economic crisis.”

So, what should we make of the BoC’s recent statement?

“First, there is a significant difference between a ‘valuation’ and the price a home will actually sell for. The HPS shows that a standard two-storey home in Vancouver’s west end will sell for approximately nine times that of a similar home on the opposite coast in Moncton. Teachers and engineers do not earn nine times as much in B.C. as in New Brunswick, but market demand yields this wide home price differential.”

Second, homeowners and buyers should remember that real estate is local.

You don’t buy a national market, or even a provincial or municipal one.

“Real estate prices are very local in nature,” says Soper. “While still more expensive than Moncton real estate, a similar two-storey home can be purchased in the Greater Vancouver Area’s southern suburbs for one quarter the cost of a west-end property.”

However, says Soper, it is worth noting that the Bank is worried about the economy, has relatively few tools at its disposal, and for the most part must use persuasive argument to sway financial behavior.

26 NEW CONDO GUIDE JANUARY 17 - 31, 2015

Though subprime mortgages have never been an important form of lending in Canada, years of persistently low interest rates have encouraged some lenders to finance “risky” clients. Thus, the BoC has reason to be concerned.

“The Bank of Canada needs to raise red flags when more homebuyers engage in risky behavior,” says Soper. “The vast majority of Canadian homeowners, however, have safe, traditional mortgage financing in place.”

As the North American economy strengthens, more people are working and earning higher incomes.

“Will the rate at which major city house prices are rising slow? Of course. Will prices collapse? That is highly unlikely.”

And as Ross points out, “there are two times that real estate values matter – when you buy and when you sell. What happens in between is no more relevant than the total cash you have in the middle of a game of Monopoly.”

Wayne Karl is an award-winning writer and editor with experience in real estate and business.

In Fundamentally Speaking, Wayne explores the basics of buying property.

He can be reached at wayne.karl@wall2wallmedia.com or follow him on Twitter at Twitter.com/WayneKarl

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Exclusive Listing: CityLife Realty Ltd. Brokerage. Brokers Protected. Illustrations are artist’s concept. Specifications are subject to change without notice. E.&.O.E. All brand names, logos, images, text and graphics are the copyright of the owners, The Daniels Corporation. Reproduction in any form, without prior written permission of The Daniels Corporation, is strictly prohibited.

JANUARY 17 - 31, 2015 NEW CONDO GUIDE 27

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JANUARY 17 - 31, 2015 NEW CONDO GUIDE 29

IN THE NEWS

Personal financial confidence takes a hit entering 2015

A

new CIBC poll conducted by Nielsen finds that 65 per cent of Canadians are entering the new year feeling confident they will reach their financial goals, a decline from the same poll last year (76 per cent), and the lowest number in five years. Canadians aged 45 and up accounted for most of the decline, while younger Canadians remained confident about the future.

Canadians aged 45-54 were among the least confident, with only 58 per cent feeling confident about reaching their financial goals – a decrease from 77 per cent in the same age group just last year.

Among Canadians aged 55-64, 61 per cent feel confident about reaching their financial goals, down from 74 per cent last year By comparison, 75 per cent of Canadians aged 25-44 said they are confident they will reach their financial goals, relatively unchanged from a year ago (76 per cent).

Another recent poll from CIBC showed that paying down debt is the number one financial priority for Canadians for the fifth year in a row, with those nearing retirement even more focused on debt than Canadians on average.

“We are seeing a real conflict among Canadians close to retirement, who are trying to balance their short-term need to reduce debt with the longer-term goal to save for the retirement they want,” says Christina Kramer, executive vice-president of retail and business banking at CIBC. “As Canadians approach traditional retirement age it can be a challenge to keep focused on both, and that can impact their overall confidence in their future finances.

“This decline in confidence among boomers is the most significant we’ve seen in five years,” says Kramer.

“As each year goes by and boomers increasingly focus on debt reduction as an immediate priority, they also get closer to retirement without a long term plan in place that will deliver the retirement they are looking for.

“Having a financial plan that addresses all economic conditions can help build the personal financial confidence they may be seeking.”

30 NEW CONDO GUIDE JANUARY 17 - 31, 2015

“As Canadians approach traditional retirement age it can be a challenge to keep focused on both, and that can impact their overall confidence in their future finances. This decline in confidence among boomers is the most significant we’ve seen in five years.”

Positivity also on the decline; advice could be the key The percentage of Canadians who say they feel positive about their current financial situation has also dropped from past years’ polls:

2015 63%

2014 70%

2013 70%

2012 64%

2011 69%

As well as being the least confident about their finances, 45-54 year olds were also among the least optimistic, with only 58 per cent feeling positive about their current financial situation.

Interestingly, the poll also found that this same age group was among the least likely to have met with a financial advisor in the past year, with just 40 per cent of 45-54 year olds getting financial advice (compared to 45 per cent of Canadians overall).

“Meeting with a financial advisor will help you gain a better understanding of your current financial situation, which can lead to a more positive outlook,” Kramer notes. “It is a small investment in terms of time, but it is an important first step in developing a realistic plan to help achieve your personal financial goals.”

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HOT DATES

JANUARY 2015 Calendar of events taking place from January 17 – 31

Jan. 16 – 23

Jan. 22 – 25

Villa Toronto

Interior Design Show

UNION STATION 65 FRONT ST. W. Move over Tokyo and Reykjavik. This year, the Villa art exhibition is coming to Toronto! The roving art event will transform Toronto’s Union Station with more than 20 contemporary art galleries displayed throughout. Visit online to get more details on this year’s exhibition. villaraster.com/toronto

METRO TORONTO CONVENTION CENTRE, NORTH BUILDING 255 FRONT ST. W. Visit the Interior Design Show to get the inside scoop on this year’s design trends. Explore the wide array of leading brands and products, innovative speakers, and upcoming talent. One of the featured exhibits is Cubitat by Urban Capital and Nichetto Design, a 10-by-10-by-10-ft. customizable object that houses everything you need from a kitchen to a bedroom and everything in between. Feeling inspired? Visit online for details. interiordesignshow.com

Jan. 30 – Feb. 12

Jan. 31

VARIOUS VENUES ACROSS TORONTO Foodies rejoice! Winterlicious, Toronto’s favourite culinary event, is just around the corner. With more than 200 restaurants participating in the prix fixe program, Torontonians can experiment with a wide selection of world-class food at great prices. Visit online for more details, or to make reservations. www1.toronto.ca

ROUNDHOUSE PARK, 255 BREMNER BLVD. If you’re a fan of craft beer and food trucks, head down to Roundhouse Park from 11 a.m. to 5 p.m for some tasty treats and craft beer from Ontario Craft Brewers. For $20 a ticket (tickets at the door cost $25), you can enjoy samples of beer, play winter inspired games and enter to win some fun prizes. Visit online for tickets and more information. craftbeerfest.ca/winter

Winterlicious

32 NEW CONDO GUIDE JANUARY 17 - 31, 2015

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The dimensions shown on this plan are approximate only. Actual useable floor space within the unit may vary from any stated floor areas or dimensions on this plan.

The dimensions shown on this plan are approximate only. Actual useable floor space within the unit may vary from any stated floor areas or dimensions on this plan.

For more information on the method used for calculating the floor area of any unit, reference should be made to Builder Bulletin No. 22 published by Tarion. February 2011.

For more information on the method used for calculating the floor area of any unit, reference should be made to Builder Bulletin No. 22 published by Tarion. February 2011.

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Condo considerations, inside and out

By Barbara Lawlor

B

uying a new home is one of the most exciting steps you can take in your life. It’s also one of the biggest financial investments you will ever make, so choosing wisely is important.

There’s so much to consider, from location right down to your kitchen counters, and of course, there are many condominiums on the market offering phenomenal choices.

A great way to narrow down your search is to make a list – or in the case of savvy computer users, a spreadsheet – that includes the items you really have to have, and those that would be nice, but are negotiable. Then, compare apples and apples to get the most for your condominium dollar!

Start with the big picture. Where do you want to live? Under your “location” column, note how far buildings are from your work, your family and the places you go regularly, such as sports venues, club meeting halls, places of worship, etc. Keep in mind that the distance from point A to point B on a map is only part of the picture. It’s a good idea to actually do the drive to these spots and find out how much time it takes with road twists and turns, traffic and the like.

If the condo is close to public transportation, you will save a lot of money on gas mileage and wear and tear on your vehicle – and maybe you don’t need to own a car at all.

Keep an open mind, too. Buying in an established area is great, but it can also be wise to consider purchasing in an up-and-coming area where real estate values are likely to rise as the neighbourhood becomes more established – it’s a great way to gain equity.

You’ll also want to consider the exterior of the condominiums you look at. Are they part of a master-planned community that encompasses parks, landscaping, courtyards and retail venues? Or are you looking for something on the lake? Does the exterior architecture appeal to you? Figure out a rating system and jot notes on your list accordingly. If you have a taste for the modern, you will probably be happiest coming home to a sleek condo with clean lines.

Don’t forget about the amenities. Today’s common areas are uncommonly beautiful, and you should think of them as an extension of your living space.

Your list could include a pool, fitness room, party room, games room, guest suite, theatre room, rooftop garden, virtual golf and any other amenity you come across. Having these spaces in the building enables you to entertain a crowd, barbecue or play pool with friends, hold a Grey Cup party for the gang and host overnight visitors, regardless of how compact your suite may be.

Remember that even if you think you may not use a specific amenity, these can all add to the resale value of your suite if and when you move in the future.

Next on your list should be features and finishes, and here’s where you need to watch comparing apples and oranges. Your brochure package should have a Schedule A of appointments. Study it carefully. For example, most condos offer hardwood in the main living area, granite kitchen countertops and stainless steel appliances with the purchase price. Those that don’t may 34 NEW CONDO GUIDE JANUARY 17 - 31, 2015

carry a lower price tag, but if these items are on your must-have list, then you’ll have to pay to upgrade.

Nowadays you’ll find incentives galore. Again, look at the big picture.

Receiving free upgrades with your purchase may be just the thing that tips the scales toward one condo over another.

Remember, every piece of real estate you buy is an investment, whether you live in it or not. When you shop, compare fairly, and the best way to do that is to make a list, and check it twice. You’re sure to end up with something nice!

Barbara Lawlor is president and CEO of Baker Real Estate Inc., and an in-demand columnist and speaker. A member of the Baker team since 1993, Barbara oversees the marketing and sale of condominium developments in the GTA and overseas.

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JANUARY 17 - 31, 2015 NEW CONDO GUIDE 35

36 NEW CONDO GUIDE JANUARY 17 - 31, 2015

HIGHWAY 407

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*Vendor will pay simple interest at a rate of 8% per annum, and such interest amount shall be calculated from the date the full 15% deposit is received until: (i) 12 months from such 15% deposit satisfaction and (ii) occupancy of the unit, whichever is earlier, which amount shall be credited on successful closing. Subject to change. Restrictions apply. See Sales Representative for details. E. and O.E.

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*As per price list. Limited time offer. Offer based on a select number of units. Price, information and program subject AVE.to ORTH DANFcations and change without notice. For qualified buyers on approved credit. All renderings are artist’s concept. Prices, specifi availability subject to change without notice. E&O.E. Brokers protected. See Sales Representative for details.

JANUARY 17 - 31, 2015 NEW CONDO GUIDE 37

CONDO PROFILE

CLOSE TO EVERYTHING – FAR FROM ORDINARY Liberty Development’s Terrace on Danforth is occupying now

Pictured: Model suite

L

iberty Development is making sure that everyone knows there is more to eastern Toronto than just The Beaches. While Toronto’s east side may traditionally be celebrated for its access to the waterfront, Ashbridges Bay Park and the world-famous Scarborough Bluffs, one of the GTA’s leading condominium developers is putting their own stamp on the neighbourhood with the addition of one of its most successful condominium projects, called Terrace on Danforth.

Known for creating some of the GTA’s most successful green, mixed-use and transit-oriented communities, Liberty has earned a reputation for identifying under-

38 NEW CONDO GUIDE JANUARY 17 - 31, 2015

utilized locations and converting them into highly desirable residential neighbourhoods. The latest example is Liberty’s Terrace on Danforth condominium, which is pioneering the revitalization of the WardenDanforth corridor.

With construction complete and immediate occupancy available, this boutique condominium designed

by SMV Architects is a distinct and stylish midrise tower, punctuated by

Terrace on Danforth by Liberty Development

Scarborough Bluffs

fresh-air balconies and defined by a stunning façade of shimmering glass and precast concrete. Featuring 95 residential suites and seven commercial units, the seven-storey Terrace on Danforth is a contemporary addition to this traditional neighbourhood, and one that has been wildly successful with condominium buyers.

With residences featuring bright, airy and spacious interiors designed

by Tanner Hill Associates, Terrace on Danforth will welcome residents home after a long day at work, or after an outdoor adventure in the neighbourhood. The stylish lobby boasts an impeccable design, soothing colour palette, and comfortable ambiance, adorned with sleek furnishings and fine accents.

Residents will enjoy the spectacular, large landscaped sixth-floor terrace, along with other amenities including the fitness facility with machines and yoga mats, and the party room complete with caterer’s kitchen and wet bar.

Appealing to a broad spectrum of condominium buyers, a variety of onebedroom-plus-den to three-bedroom-plus-den layouts are still available, ranging in size from a functional 615 sq. ft. to a spacious 1,160 sq. ft. Prices start from $259,000 and go up to $534,000.

Many of the well-designed urban suites are designed to include a balcony or terrace. Suite interiors feature eight-ft. ceilings with ceramic tiling

in the laundry and bathroom areas.

Kitchens are elegantly designed with European-style cabinetry including an upper cabinet and granite countertop, and are equipped with a stainless steel undermount sink, ceramic tile backsplash, and energysaving appliances including a frostfree refrigerator.

Bathrooms boast high-end finishes and a soaker tub to retire to after a long day, tasteful ceramictiling, a choice of designer-inspired vanities with single-lever faucets and pressure-balanced valves for the tub and shower fixtures.

Conveniently located at Warden and Danforth, TTC lines run through the area and the nearby GO train station offers an express ride into the city within just minutes. Blessed with an array of natural leisure facilities, the surrounding area includes the lake shore, Bluffer’s Park, several recreational nature trails and golf courses. Just minutes away are movie theatres and the vibrant shopping and cultural dining options offered on the Danforth. Also just a short bike ride away is the funky Beach neighbourhood, known for its boardwalk, cafes and galleries.

Convenience and comfort, style and location – find it all at Terrace on Danforth.

For a private viewing or to find out more information on Terrace on Danforth, please call 416.987.7575, email info@terraceondanforth.ca or drop by the presentation centre located at 3520 Danforth Ave., open Monday to Wednesday, noon to 7 p.m.; and Saturday and Sunday, noon to 6 p.m.; or by appointment on Thursday and Friday.

JANUARY 17 - 31, 2015 NEW CONDO GUIDE 39

40

41

IN THE NEWS

Puck drops on new ice rink in Regent Park Pictured: Chris Bright, executive director of Hockey Canada Foundation (centre) drops the puck for Regent Park youth at the newly revitalized rink

J

ust in time to celebrate Canada’s win at the 2015 World Junior Championships, the puck has dropped on the refurbished rink at the Regent Park Athletic Grounds. Residents of the Toronto neighbourhood, currently undergoing a massive revitalization, can thank the MLSE Foundation, in collaboration with the Hockey Canada Foundation.

The event saw Toronto Maple Leafs hockey development coaches lead a Learn To Skate clinic for 40 pre-registered youth from the community, highlighting the impact the improved rink will have on growing the sport in Regent Park. Residents of the community were invited to hear remarks from members of the organizations involved in Toronto Community Housing Corp.’s (TCHC) revitalization of Regent Park and to watch the first official puck drop at centre ice. Following the ceremony, residents and families of Regent Park participated in a community skate with Toronto Maple Leafs alumni and members of Canada’s 1993 and 1994 National Junior Teams.

With a $300,000 investment, the Hockey Canada Foundation became the leading funding partner of the MLSE Foundation’s revitalization of the rink and fieldhouse. The donation was made as a legacy to the Regent Park community from the Hockey Canada Foundation’s annual Celebrity Classic gala, and helped to transform the rink into safe space for youth to play hockey.

“The Hockey Canada Foundation is proud to partner and support the MLSE Foundation on this wonderful community initiative,” said Chris Bright, executive director, Hockey Canada Foundation. “Creating opportunities for our youth to enjoy skating, hockey and a healthy active lifestyle is an important mandate of our foundation and Hockey Canada.”

The hockey rink is the first of three sport spaces at the Regent Park Athletic Grounds to open to the public since construction began in May 2014.

The Regent Park Athletic Grounds are a capital project of MLSE Foundation, developed in partnership with TCHC, The Daniels Corp. and the City of Toronto, and are a key highlight of TCHC’s revitalization of the area. When complete in 2015, this state-of-the-art sports facility will provide the youth

42 NEW CONDO GUIDE JANUARY 17 - 31, 2015

of Regent Park with a refurbished hockey rink, new basketball court and artificial turf soccer/cricket pitch.

In addition to the athletic grounds, this phase of the Regent Park Revitalization includes 600 TCHC rental units, and over 2,000 market condo units created by residential development partner, The Daniels Corp. The revitalization of the community also continues to connect residents with economic opportunities, with over 700 jobs created to date in Regent Park.

The City of Toronto has played a large part of the revitalization of Regent Park and the development of the athletic grounds. By acting as one of the leading construction funders, the City has helped ensure the grounds are a safe space for the youth of Regent Park to play.

Following the opening of the rink and the launch of the other sport spaces in fall of 2015, the City of Toronto will maintain and operate the Regent Park Athletic Grounds to ensure the dynamic space is sustainable for years to come.

“Skating is one of Canada’s great pastimes. This revitalized rink will provide the Regent Park community with an opportunity to gather and learn to skate or even improve their skating skills,” said Mayor John Tory.

“This is another great example of how we as a City can collaborate with outside partners to improve facilities and services for residents of Toronto.

Thank you to the MLSE Foundation, Hockey Canada, TCHC, and The Daniels Corp. for making this rink revitalization a reality.”

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MARKETPLACE

1

2

2015

SHOPPING wish list

This season’s hottest trends are a real mash-up! You can see influences of the ’70s, Scandinavian style and mid-century modern mixed with tons of pattern. It’s an interesting time in design! Here are 11 pieces currently on our shopping wish list.

By Sara Duck

3 4

1 Kate Spade Saturday Floral Print Anders Chair. $719. Visit westelm.com 2 SMEG Mixer in Pastel Blue. $550. Visit westelm.com 3 Oslo Five-Piece Cutlery Set in Black. $75. Visit chapters.indigo.ca 4 Underline Dinnerware. $5-$7. Visit cb2.com 44 NEW CONDO GUIDE JANUARY 17 - 31, 2015

continued on pg. 46

FROM THE LOW $200’S TO $1.4M

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MARKETPLACE continued

6

5

7

8 9

10

11

5 Eve Pendant. $249.

Visit crateandbarrel.ca 6 Sillerup Rug in Black and White. $149. Visit ikea.ca 7 Graciosa Drum Accent Table in Brown. $170. Visit pier1.ca 8 Canyon Vase. $60. Visit cb2.com 9 Silk Bauble Pillow in Forest. $69.

Visit chapters.indigo.ca 10 Double-Sided Throw in Celery. $49.

Visit chapters.indigo.ca 11 Paradigm Dining Table. $999.

Visit cb2.com

46 NEW CONDO GUIDE JANUARY 17 - 31, 2015

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LAUNCHING FEBRUARY 2015.

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An intimate building of 45 suites located at 663 Kingston Road and Southwood Drive. Large outdoor spaces, modern finishes and spectacular lake and treetop views. Go local and enjoy the independent cafés, bakeries and more of this emerging Upper Beach neighbourhood. Kid-wise, the area’s best daycares, schools, parks and amenities are all within easy reach. For the commuter, the streetcar to downtown Toronto is at your doorstep. You can also take a short walk to Main subway or the GO train station and get to Union in as little as 10 minutes. Space, location and kid-friendly amenities… a perfect fit for the modern family.

QUEEN ST E

LAKE ONTARIO

JANUARY 17 - 31, 2015 NEW CONDO GUIDE 47

CONDO PROFILE

UPPER BEACH VILLAGE A hidden gem neighbourhood that has it all!

O

ver the past two decades, downtown Toronto’s east end has been undergoing a remarkable transformation. New condominium developments have been spreading east from Yonge Street, through St. Lawrence Market, Old Town, Corktown, Distillery, Riverside, Leslieville and all the way to The Beach, bringing thousands of new residents to the area, as well as wonderful new shops, restaurants and services.

Most recently, Upper Beach Village has emerged as one of the hottest ‘up-and-coming’ east-end neighbourhoods for savvy homebuyers looking to buy in an area that still has huge potential for value in the upcoming years.

Stretching along Kingston Road, from Woodbine to Victoria Park – just north of the more famous Beach(es) neighbourhood – Upper Beach Village is a great little community that is maintaining its down-to-earth, friendly

48 NEW CONDO GUIDE JANUARY 17 - 31, 2015

Upper Beach Village has emerged as one of the hottest ‘upand-coming’ east-end neighbourhoods feel through its eclectic array of independent artisanal food shops (cheesemongers, butchers, bakers, patisseurs), boutiques, cafes, used book stores, vinyl record shops and premium coffee roasters.

It’s a vibrant community nestled next to the sought-after Beaches neighbourhood.

Moreover, Upper Beach Village is surrounded by some of the best schools, day cares, community centres, libraries, parks and recreational amenities the city has to offer, making it a haven for urbanites, busy professionals, young families or empty nesters who really value quality of life. What’s more, you can walk or bike to the GO train station and it’s just 10 minutes to Union Station; or catch the TTC at your doorstep and head north to the Bloor-Danforth subway in less than five minutes; or head west by streetcar into the downtown core.

As early as 2002, Streetcar Developments recognized the potential of the east end and converted an old movie theatre at 952 Kingston Rd. into a modern midrise building. Since then, they have transformed several downtown neighbourhoods from West Queen West to Corktown to Leslieville to The Beach, but now, Streetcar is returning to its roots on Kingston Road with the launch of The Southwood.

Situated at 663 Kingston Rd., on the south-east corner of Kingston and Southwood/Main Street, The Southwood will be an intimate, six-storey building with only 45 spacious suites.

Not your typical cookie-cutter building, each suite has been thoughtfully designed for real living; for real people who have ‘stuff.’ What does that mean? Lots of closets and cupboards. Insuite storage for your baby stroller, scooters, skis, golf clubs or hockey bag. Large kitchens and living spaces for comfortable gathering and entertaining. Master bedrooms that welcome king size beds and oversized ensuite bathrooms for pampering. Huge outdoor balconies and terraces with gas barbecues that can double as your ‘outdoor suite’ with enough room for dining, lounging, entertaining, gardening or for your kids (or grandkids) to play and dig around in a sand

box or splash about in a blow-up kiddie pool. Plus, enjoy spectacular lake and treetop views, at your perfect ‘cottage in the city.’

The Southwood is modern living in the Upper Beach; in a real community with a unique downtown feel, but with the peace and quiet of the outdoors. It’s a hidden gem that has it all – location, lake views, transit, shopping, schools, parks, kid (and dog) friendly places to go and things to do... and great value.

Spacious three-bedrooms are priced from the $600’s, and large one-bedrooms are from the $300’s.

The Southwood is launching in February 2015. Register now at thesouthwood.com or call 416.750.7506.

JANUARY 17 - 31, 2015 NEW CONDO GUIDE 49

MAKE YOUR MOVE

Moving etiquette BRING YOUR MANNERS WITH YOU

By Chuck Resnick

E

ven at the best of times, moving day can be stressful for everyone involved. Whether you are moving into or out of a condominium, lowrise home or a commercial property, a move involves trucks, boxes, packing materials, workers and a certain amount of organized chaos.

As with any major event, preparation is key. There are certain things to do on moving day to make things go as smoothly as possible. The first is to be sure to bring your manners with you.

Think of the following tips as moving etiquette: » Let your neighbours at both ends know when to expect the movers to pull into your place. Ensure that the movers park and unload to avoid blocking anyone else’s driveway or trespassing on other property while items are being carried into or out of your new place. It is important to respect your neighbours’ privacy and property.

»

If you are booking a residential move and have the choice, select 9 or 10 a.m. for your truck to arrive.

This is a time when people who work the 9-to-5 shift are not at home, and you are less likely to cause them any inconvenience.

»

Everyone wants to move at the same time, but this can tie up the elevators and make it impossible for residents to come and go, so instead of chaos, the property management will book a block of time for you to move. Book the elevators well in advance – in both the building you are leaving and the building you will be moving into – so that you can have the benefit

continued on pg. 52 50 NEW CONDO GUIDE JANUARY 17 - 31, 2015

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*Prices and specifications are subject to change without notice. Rendering is artist’s concept. E.&O.E.

JANUARY 17 - 31, 2015 NEW CONDO GUIDE 51

MAKE YOUR MOVE continued

Let your neighbours at both ends know when to expect the movers to pull into your place. Ensure that the movers park and unload to avoid blocking anyone else’s driveway or trespassing on other property while items are being carried into or out of your new place.

You may even want to check your lease – some leases and tenant agreements stipulate the condition of cleanliness and you don’t want to be sent a bill from your old landlord because you didn’t fulfil your obligations at your old apartment when leaving.

of arranging your time comfortably. You should also check to see if movers are restricted to using specific doors. Sometimes there are service areas to use for moving so that the rest of the tenants aren’t disturbed or inconvenienced, or to accommodate large, heavy pieces of furniture. »

»

Make arrangements for your pets to be cared for elsewhere. The very nature of a move means that doors will be open for long periods, and having animals wandering in and out can be dangerous for them and for those carrying your belongings.

If the movers are playing a radio, ask them to keep the volume down to avoid bothering small children or elderly neighbours who may want peace and quiet.

»

The physical nature of moving means that your movers will get thirsty and hungry. Although it is not necessary, offering cool drinks and some snacks is always greatly appreciated. Cold water and pop during the summer, or coffee and hot chocolate in the winter can go a long way to keeping movers refreshed and energized.

»

Most people wonder about whether to tip movers.

Tipping is not compulsory in our industry, so it is totally up to you. If you feel your moving crew has done an exemplary job, by all means, show your appreciation that way. Whether or not you tip, you should expect excellent service.

»

Most moving companies are good about removing packing materials, crates, boxes, etc. when they leave.

If anything is left behind, collect it yourself and dispose of it.

»

As items are moved out of rooms, take advantage of the opportunity to sweep, mop and clean what you can.

Think about how you would like to find the place you are moving into and act accordingly. Some people hire cleaners to come in and work their magic before turning in the keys over to the landlord or the new owners.

52 NEW CONDO GUIDE JANUARY 17 - 31, 2015

»

Keep your cool. By moving day, you are likely to be tired and worried about all your items arriving at your destination without any damage.

So, it’s all about common courtesy – treating others the way you would like to be treated – and it works both ways. That’s why at Two Men and a Truck we follow “the grandma rule.”

We treat everyone the way we would want our grandmothers to be treated.

Chuck Resnick is vice-president of marketing and operations, Two Men and a Truck Canada. twomenandatruck.ca

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UNDER CONSTRUCTION EARLY 2015 CLOSINGS

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Presentation Centre: 25 Nelson Street, Toronto Mon. – Thurs.: 1pm – 7pm, Fridays: Closed Sat., Sun. & Holidays: 12pm – 6pm

Brokers Protected, Limited Time offer. See Sales Rep for full details. Prices, Specifications and programs are subject to change without notice. Illustrations are artists concept. E & O.E. *Provided the purchaser completes the transaction on the contemplated unit transfer date the purchaser shall receive a credit on the statement of adjustment in the amount equal to 12 monthly common expense fees relating to the unit and any parking or storage applicable. Deposit 5% down and 10% due on occupancy.

studiocondos.ca • 647.352.7736

MONEY MATTERS

How to fix a bad credit score

By Gail Vaz-Oxlade

A

t university, Dixie was a little slow paying her cell phone bill. While her service was never discontinued, she did carry a balance from month to month that she cleared at the end of each school year.

Last year, when Dixie applied for a car loan, she was turned down because of her less-than-perfect repayment history. She’s worried about the future and how her past borrowing mistakes will haunt her when it comes time to buy a home. Sound familiar?

If you see yourself reflected in Dixie’s story, no doubt by now you know you’re not the only person in this particular leaky boat. Unfortunately, many people have no experience managing credit and make mistake after mistake:

» » » » »

they make their payments late they go over their credit limits they have a b’zillion credit cards in their wallets they miss making their payments, or worse they stop making payments completely when they feel there’s no end to their misery.

If you’ve fallen behind and your credit record has become tarnished, where should you go from here?

First, you’ve got to get yourself some credit again so that you can demonstrate what a good job you can do managing it. The only way to establish a credit history is to use and repay credit. There are a number of ways to go about rebuilding your credit history.

Start by taking out a loan to make an investment (another good reason to start a retirement savings plan). Make your monthly payments on time and build a shiny new credit history. Since the institution that’s giving you the loan will also be holding the retirement savings, the credit procedure is far less stringent than it normally would be.

You can also ask a co-signer or guarantor to help you get a small loan of, say, $1,000, which you would then pay off over three months. It would cost you in interest, but you would be back on track credit-wise.

Don’t want to incur the interest costs? Apply for a “secured” credit card.

With a secured credit card, you put up cash to cover your balance. Lenders often want twice the credit card limit, so if you want a $500 credit limit, you’ll have to ante up $1,000. Once you’ve established your ability to manage the card — anywhere from six months to a year — you can ask for the security requirement to be dropped and your deposit returned.

Thinking of hiring a credit-repair company? Don’t bother. Credit repair companies can’t do anything you can’t do yourself. A credit bureau will not remove accurate negative information from your credit report before the legal time period has expired, so don’t get suckered by anyone who claims they can mop up your credit disasters faster. There are no “loopholes.”

54 NEW CONDO GUIDE JANUARY 17 - 31, 2015

The only way to fix a poor credit rating is to be smart about how you use credit. Learn from your mistakes and move on.

Gail Vaz-Oxlade is the host of Til Debt Do Us Part, author of Debt Free Forever and blogs daily at gailvazoxlade.com.

Follow Gail on Twitter at twitter.com/GailVazOxlade

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JANUARY 17 - 31, 2015 NEW CONDO GUIDE 55

LEGALLY SPEAKING

Closing costs 101

By Jayson Schwarz

A

t the closing of a new residential real estate transaction there are usually three groups who get paid: the builder, the government, and the lawyer. Each group involves he payment on fairly specific items, and the builder and your lawyer will collect from you for the government remittance.

Generally speaking, your lawyer collects all of the necessary money from your mortgage company and from you. You will need certified cheques, bank drafts or cash, because of your lawyer’s trust account requirements.

Here’s how the builder gets paid, and where all the money your lawyer wants, needs to go.

The builder will get paid the purchase price of the property less the deposit, plus certain other things. You may even get a credit for certain items, called “adjustments.” The adjustments will be reflected on a document called the Statement of Adjustments which contains a multitude of details, all related to your original agreement.

The Statement of Adjustments will include the HST payable (the rebate will be broken out), the original purchase price on the property, real estate taxes, hydro expenses, common expenses and maintenance fees (as applicable), connection costs, levies and charges, to name but a few. This document is incredibly important. Review it carefully and get everything explained to you, so you understand all the charges that you are required to pay. It is at this point that you find out the final number you are paying to the builder for your new home.

The Ontario government and the City of Toronto will get paid a Land Transfer Tax, unless you are entitled to the rebate or exemption, and sales tax on goods (if applicable). There are many other items, but they usually show up on your lawyer’s disbursement account or trust reconciliation, as do many of the municipal compliance request charges.

56 NEW CONDO GUIDE JANUARY 17 - 31, 2015

Okay, now what about that lawyer? First of all, you are going to pay the legal fee, whatever the amount the two of you agreed to.

You did of course have a pre-agreed fee, didn’t you? Then there is a list of disbursements. Disbursements are those monies expended by your lawyer on your behalf necessary to properly search and close the transaction. Be careful – it is here that someone may try to take advantage of you by charging large fax, mail and photocopy fees. Have your lawyer justify all expenditures that don’t make sense. Disbursements include registration charges, title insurance, couriers, searches of all kinds, and many other items necessary to close your transaction.

Remember, a large part of your closing costs is based on what you negotiate at the beginning of your purchase, and are outlined in your Agreement of Purchase and Sale.

Please remember, only a lawyer can provide legal service – that is the law!

Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law firm Schwarz Law LLP. Visit schwarzlaw.ca or email info@schwarzlaw.ca and give us your questions, concerns, critiques and quandaries.

STYLE FILE

How to cook up great style in the kitchen

By Jane Lockhart

Another option is soapstone.

Soapstone is new to the solid surface line-up, although it’s been around a long time. It is naturally heat-resistant and easy to maintain. You can have integrated sinks, with soapstone, included within the countertop.

2. Add more lighting, not less You can never have too much lighting, because you can just turn it off or add a dimmer! Add cool pendant lights over islands for extra lighting and as a decorative element.

These are like jewelry for the kitchen, and give you the opportunity to add an additional punch of colour that you can carry throughout your design.

I

t is commonly known that kitchens are one of the places your dollar can go the furthest when selecting finishes and options in your new condo. It Here are five tips to help you choose the best materials and upgrades when planning the kitchen in your new place: 1. Consider your material choices Tremendous advancements have been made in materials technology in terms of appearance and durability. Think of porcelain tiles rather than ceramic, as they are more durable and you can have smaller grout lines.

Choose quartz countertops for a durable and repairable option. Granite is also durable, but can’t be repaired.

3. Take advantage of better cabinet storage Developments in cabinet shape and technology have led to much better interior storage options.

There are products like Magic Corners which make blind corners much more usable. There are also cool pantry units on the market now, which pack in a lot of food items.

And be sure to invest in cutlery dividers where possible so your drawers stay organized.

Beverage stations are also becoming a big trend and look lovely when they are built into your design.

4. Make your backsplash a focal point Pick amazing tiles or patterns to add interest to this area. After all, it is at eye level so it is quite visible. Do add tile inserts and even consider painting on your backsplash tile. continued on pg. 60

58 NEW CONDO GUIDE JANUARY 17 - 31, 2015

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STYLE FILE continued

To make your backsplash look perfect, hide electrical outlets within the upper light valance. This way the entire backsplash is completely clear of plugs and switches!

5. Think beyond white for cabinets Although white cabinets still sell the best, there are other good neutrals which do well in Canada.

Think about painted grey cabinets, pale blue, espresso brown or even natural cherry, as these all are classic choices and give you a special look. With finishing technology, all colours are available and will wear well.

When considering your cupboards, it is also a great time to think about integrated appliances. This is when your appliances are flush with the cabinets, and are paneled in the same material as the cupboards.

Buying a new condo is costly, and can be stressful. Make sure you choose the right materials and upgrades, so you are happy in your new space. This is your home, so make sure it is exactly what you want!

60 NEW CONDO GUIDE JANUARY 17 - 31, 2015

Jane is founder and principal of Jane Lockhart Interior Design.

Her furniture collection, Jane by Jane Lockhart, is available at retailers across Canada. See Jane on CTV’s Marilyn Denis Show, Citytv’s Cityline, CBC’s Steven & Chris Show, Global’s Morning Show and CHCH Morning Live. janelockhart.com

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HOMEBUYERS’ HELP

Five things to watch in Canadian real estate in 2015

By Wayne Karl

B

y all accounts, 2014 was a good year in Canadian real estate – and in some areas a great year.

Here are five things to watch in Canadian real estate in 2015.

‘Overheating’ in the housing market Bank of Canada Governor Stephen Poloz spooked many Canadians in December when, in releasing the Bank’s semi-annual Financial System Review, he said that home prices could be overvalued by as much as 30 per cent.

Only weeks before, the chief economist for Canada Mortgage and Housing Corp. reassured Canadians that overheating wasn’t a serious concern. “The housing market does have a fairly bright outlook,” Bob Dugan told New Condo Guide.

“We don’t see overheating as being a problem in any of the markets across Canada,” he said. “Some markets

are stronger than others, particularly in western Canada.”

We also sought insight and reaction from a leading mortgage broker, Calum Ross.

“Respectfully, the Bank of Canada is no more qualified to talk about the specifics of the housing markets than the Canadian Real Estate Association is qualified to comment on monetary policy,” he told New Condo Guide.

“Saying there is a Canadian housing market is not that dissimilar from saying there is a Canadian temperature – the term itself is irrelevant.”

Mortgage rates In its most recent interest rate announcement, the Bank of Canada once again held its influential overnight target rate at one per cent – where it has sat since September 2010.

Most economists don’t expect any notable rate increase in 2015, including BMO’s chief economist

continued on pg. 64 62 NEW CONDO GUIDE JANUARY 17 - 31, 2015

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HOMEBUYERS’ HELP continued

Douglas Porter. But if rates do begin to inch up, the impact will be interesting to watch.

“The chances of a two percentage point rise in rates in any year these days is remote, and I would peg it as extremely unlikely in 2015,” Porter told New Condo Guide. “We do believe that at long last rates will begin to creep higher, but we are only looking at a quarter-point hike by the Bank of Canada.”

Calgary, Toronto and Vancouver – which have seen significant price gains in the last few years – are among the markets most vulnerable, he says.

BoC’s next rate announcement comes Jan. 21, 2015.

Oil and gas Canadians are loving the cheap gas at the pumps these days – freeing up coin for us to spend on other consumer goods – but falling oil prices could cause a farther reaching economic shake-up.

Is it a short-term blip or a more prolonged development that could lead to dramatic change? TD Economics, for one, forecasts downgrades in economic growth in the oil-rich economies of Alberta, Newfoundland and Labrador, and Saskatchewan.

In its latest Provincial Economic Forecast in December, TD said real GDP growth in Alberta is expected to fall from its recent trend rate of more than four per cent to 2.3 per cent over the 2015-16 period. Accordingly, after topping the 2014 growth charts by a wide margin, Alberta is expected to trail Ontario (2.5 per cent) and BC (2.4 per cent), where activity is expected to gain a step relative to 2014.

A prolonged oil and gas slump could also affect the real estate markets in Alberta – but experts say any slowdown will only bring the province more in line with growth in the rest of Canada.

Mattamy Homes’ acquisition of Monarch Corp.

“Buy land, they’re not making it any more.” This famous Mark Twain quote rings true in the recent announcement by Mattamy Homes that it is acquiring Monarch Corp.

It’s huge news in the home-building industry, but it’s also interesting from a general business and consumer news perspective. Why? First, it’s a success story: a Canadian company buying the Canadian division of U.S. builder, in this case Taylor Morrison Home Corp., which builds homes in Arizona, California, Colorado, Florida and Texas. Mattamy builds homes in the Greater Toronto Area, Ottawa, Calgary and Edmonton.

Second, the motivation for the deal: land. Land availability and rapidly rising acquisition costs are a growing issue for builders – and therefore buyers. A run-up in land prices in Ontario in the last few years, for example, is one of the reasons Taylor Morrison decided to sell Monarch.

A prolonged oil and gas slump could affect the real estate markets in Alberta – but experts say any slowdown will only bring the province more in line with growth in the rest of Canada 64 NEW CONDO GUIDE JANUARY 17 - 31, 2015

By acquiring Monarch, Mattamy quickly gains Monarch’s existing land tracts, most of which have been approved for development.

Mattamy, primarily a lowrise builder, also gains an immediate foothold in the fast-growing highrise market.

Toronto, specifically Mayor John Tory As if being mayor of Canada’s largest city isn’t difficult enough – some say it’s the toughest job in Canadian politics, certainly at the municipal level – Rob Ford drew a lot of negative, unwanted attention Toronto’s way.

On the one hand, Mayor John Tory can’t help but present the city and the mayor’s office in a brighter light. On the other, his predecessor left him with quite a mess.

Among Tory’s challenges: uniting a previously divided council, improving relations with the provincial and federal governments, and – the big one – transit. If Tory has his way, by the time his first term is up in four years, construction of his SmartTrack transit system will be well underway.

Toronto’s real estate market, meanwhile, is expected to continue humming along, though affordability is becoming a growing concern.

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TAXING ISSUES

Are you ready to buy a home?

By Henry Choo Chong

Q

This year, my wife and I would like to get into our first home. We have saved almost $80,000 for a down payment. This was three years of eating mac and cheese, and no vacations. Home prices keep rising. Is now the right time to buy?

Steve and Kathy, North York

A

The Canadian real estate landscape, though it has experienced challenges in some areas and housing types, is proving resilient.

Experts do not foresee a U.S.-style crash, but a decline in sales with moderate price increases is likely for some areas. Quick flips and fast returns may be a thing of the past.

First-time homebuyers should not try to time the market, but buy when they are ready and able. A home used as your primary residence is a great investment.

In Canada, the sale of a family home is tax-free. A home that is a principal residence that is subsequently sold at a higher price than initially purchased, will be exempt from income taxes. Secondly, pay yourself first, not a landlord.

Mortgage payments are a way of “forced savings.” Thirdly, you can decorate and enjoy the home as you please. No money saved, but gratifying to the soul.

Before venturing into the land of home ownership, do some homework:

Plan (RRSP) as part of the down payment. An individual and their spouse, provided they qualify, may withdraw up to $25,000 each, tax-free, from their RRSPs. You then have 15 years to repay the amounts to your RRSP, starting after the second year of your withdrawal.

The opinions and views expressed herein are those of the author and not those of New Condo Guide.

New Condo Guide does not necessarily endorse or encourage any specific tax strategies. Please consult a tax professional for advice specific to your particular situation.

›› Buy what you can afford Many times, the heart is bigger than the

pocketbook. Know what price range is comfortable and try not to deviate. ›› Get the best interest rate and terms Shop for the best rate and terms.

A half point rate differential can cost you thousands. So can a mortgage that is closed or not portable. ›› Put down as much as possible to avoid a high-ratio mortgage. ›› Ensure your monthly mortgage payments are manageable and will continue to be so even if interest rates rise as early as next year and payments increase. ›› Consider closing costs Set aside an additional two to three per cent of the purchase price of the home to cover closing costs like Land Transfer Tax, legal costs and moving expenses. You do not want get caught short several thousand dollars on closing day in order to complete the deal. Speak to a real estate lawyer and he or she will give you some ideas. ›› HST, Land Transfer Tax Under certain circumstances, first-time homebuyers can qualify for Toronto Land Transfer Tax and HST rebates.

Remember, you pay 13 per cent HST on new homes, not resale. If you’re buying a new home, check if HST is included in price quoted. What happens to the HST rebate? Who gets it? ›› Home Buyers Plan (HBP) Use your Registered Retirement Savings 68 NEW CONDO GUIDE JANUARY 17 - 31, 2015

Henry Choo Chong, CGA, sits on many committees and provides accounting and tax services to individuals and businesses in the GTA. He can be reached at 416.485.5225. Questions to Taxing Issues can be emailed to choochonghcga@yahoo.ca

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HOME SWEET HOME

Curing that case of buyer’s remorse

By Lydia McNutt

T

here are many questions that will run through your head in the weeks leading up to closing on your new home. Did I choose the right location? Did I pay too much? Should I have waited out this hot market?

We’ve all heard of buyer’s remorse. Maybe it’s that canary yellow convertible that caught your eye at the dealership when you were there only to get an oil change. Maybe it’s that Florida timeshare that tempted you in the dead of winter. Maybe it’s, dare I say it, the home you just purchased.

When it comes to buying a home, feeling a little anxious and questioning whether you’ve made the right decision is normal.

Having just bought a new house, I remember that feeling well. My husband and I were swept up in a whirlwind of excitement, anxiety and stress bordering on distress. First of all, our new home was more expensive. Second, it was further away. Third, it was in a new community. (Well, not new new, but new to us.) While we were well aware of these factors when we bought the house – and we still consider it worth the trade-off – we couldn’t help those pangs of fear.

So, how can you cure that case of “I wish I never...” and “What if...”? Here are three ways to stop buyer’s remorse dead in its tracks:

home – especially for the first time – is certainly stressful, but ask yourself if your fears are founded on facts, or just a common case of cold feet? If you’ve done your research, then it’s most likely the latter and you’ll get over it.

Nothing will ruin your homebuying happiness like having it engulfed in a wave of irrational fear.

In your home purchase, as in life, regret nothing and enjoy every moment.

Stop looking. You’ve had your eyes glued to the real estate listings for months. Now that you’ve purchased a home, it’s tough to go cold turkey.

Trust me – if you keep looking, you’ll find something in a more convenient location, or at a cheaper price, or better in some way. Why are you torturing yourself? If you were happy with your decision to buy when you made it, then stop shopping for the bigger, better deal.

Stop listening. You’ve made your buying decision based on your needs and wants. You were confident with your purchase... until Uncle Joe tsk-tsked and dug up that newspaper article he’s been saving for you about a drop in house prices in the coming months.

Does anyone really know for certain what will happen in the future? By sitting on the fence and waiting for “perfect market conditions,” you could miss out on some really great opportunities. Don’t be overcome by analysis paralysis. If the timing is right for you, go for it.

Stop worrying. You’ve done your homework, haven’t you? You’ve scoped out a variety of locations with a close look at the amenities, home types and their prices. You’ve set a budget. You’ve been pre-approved at a great mortgage interest rate and terms. You’ve saved a down payment and closing costs are covered. You’ve got your team of professionals: realtor, home inspector, lawyer. What more could you have done? Buying a new 70 NEW CONDO GUIDE JANUARY 17 - 31, 2015

Lydia McNutt is an award-winning writer and editor of New Condo Guide. Lydia’s love of architecture, interior design and the written word have landed her happily at home at Wall2Wall Media, where real estate rules. Email Lydia.McNutt@wall2wallmedia.com, and follow her on Twitter @LydiasTweets

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Another year, another record for Toronto condo rentals CONDO LEASES UP 15% IN 2014 TO ALL-TIME HIGH, RENTS STEADY AMIDST RISING SUPPLY

25,000

Condo Units Rented: GTA 20,000

Avg. Rent per sq. ft

15,000

$2.37

$2.39

$2.28

10,000

$2.19

5,000

$2.08 0 2010

2011

2012

2013

2014

Source: Urbanation, TREB/MLS

T

he number of condo apartments rented through the MLS system during 2014 in the Greater Toronto Area managed to top 2013’s breakout year by growing 15 per cent to 22,765 units, according to Toronto condominium market research firm Urbanation. Fourth quarter volumes grew by 11 per cent, affirming a relatively slower rate of growth for the market in the second half of the year.

Demand and supply growth were aligned during the fourth quarter as condo rental transactions grew at a similar pace to listings, which increased 10 per cent year-over-year and held the ratio of leases-to-listings to a level consistent with previous fourth quarters at 66 per cent. Supply growth has seen some reprieve over the past six months as the number of new project registrations has scaled back.

72 NEW CONDO GUIDE JANUARY 17 - 31, 2015

Average condo apartment rents grew by one per cent year-over-year in Q4 to end 2014 at $2.39 per sq. ft.

For the year as a whole, condo rents appreciated by an average of 0.8 per cent, a marked deceleration from the 4.1 per cent rate of growth recorded in 2013 and the 3.7 per cent increase in 2012. The absolute average monthly rent continued its downward trend on account of shrinking unit sizes, declining by 0.7 per cent annually in the fourth quarter to $1,816 – the fifth consecutive quarter of year-over-year declines. Over the past year, the average size of units rented has fallen by 1.5 per cent, or 12 sq. ft. to an average of 761 sq. ft. in Q4-2014.

“The condo rental market grew into its shoes in 2014. Demand proved strong enough to absorb the market’s greatest amount of new supply in history, while also revealing an equilibrium for rent levels,” says Shaun Hildebrand, Urbanation’s senior vice-president.

“The rental market’s proven stability and consistent growth is encouraging as we remain in a scenario of high condo completions over the next couple years.”

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IN THE NEWS

The Residences of 488 University Avenue 75% sold

S

ince the sales launch last fall, The Residences of 488 University Avenue, developed by Amexon Development Corp., has already sold 75 per cent of its suites – success that’s attributable to the outstanding combination of location, price, amenities, features and finishes in this 55-storey tower.

Ideally located in the heart of downtown on the northwest corner of University Avenue and Dundas Street with direct TTC access, the building designed by CORE Architects will be an elegant statement tower offering all the “must-haves” that has resulted in its sales success.

Priced from $398,800, with one-bedroom to three-bedroom-plus-den suites up to 1,136 sq. ft., 488 University offers functional, flexible floor plans to maximize efficiency in everyday living. The finest finishes and materials are available in all suites, including hardwood flooring, quality stone and tile, and European appliances. Some of the suites boast balconies which are eight ft. deep, becoming extensions of personal living spaces with outstanding views in all directions. All suites include a lavish ensuite with marble walls and floors.

In addition to doorman and valet parking, more than 30,000 sq. ft. of amenities are offered, including a fully equipped fitness centre, indoor and outdoor pools, screening room, podium restaurant on the second floor, and a stunning two-storey SkyLobby featuring an outdoor terrace.

Purchasers at The Residences of 488 University Avenue also have confidence in the outstanding reputations of the development team behind the project. Amexon Development Corp. has been a leader in residential development for more than 35 years with a recognized commitment to

74 NEW CONDO GUIDE JANUARY 17 - 31, 2015

excellence, and the classic, timeless and streamlined interior design is by the acclaimed II By IV Design.

There is still an outstanding selection of suite options available.

Take advantage of one of the great opportunities for luxurious and stylish living in downtown Toronto.

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488university.com JANUARY 17 - 31, 2015 NEW CONDO GUIDE 75

Q&A

it’s a COLOURFUL LIFE

By Sara Duck | Photo by Maura McEvoy

Potter, designer, and author Jonathan Adler is a designing power house on a mission to shake up boring decor with his dazzling, colourful creations. In town as guest speaker at the Interior Design Show, we catch up with this multi-talented designer.

76 NEW CONDO GUIDE JANUARY 17 - 31, 2015

You seem to be a designing chameleon these days with your continued successful and diverse lines of pottery, furniture, home accessories, apparel and more. From where do you draw inspiration?

J | Creativity is an audacious and magical undertaking, and I try not to think about it too much, but I always keep my mind and my eyes wide open.

Describe your design philosophy in three words.

J | Style, craft, joy.

You’re known and loved for your use of colour.

What are your favourite colour combinations?

J | Lemon yellow and blue is an “always” combination for me, and I’ll never say no to a dash of prep-tastic red, white and blue.

Describe your home’s aesthetic.

J | Shelter Island is where my husband Simon and I built our dream home. We wanted warm, rustic modernism. It’s a little California, a little bit Japanese, and a little bit Swedish.

In addition to being a successful author, a collaborator with companies such as Kravet, Starbucks and Lacoste, and creator of must-have home items, you’ve had great success as an interior designer. What’s next for you?

J | I just finished re-envisioning the Eau Palm Beach resort in Florida – all 309 guest rooms and corridors. And I’m launching a collection with Formica Laminate this spring. I’m a restless designer, so the more I make the more I want to make. More stores, more products, more projects.

CHECK OUT OUR FAVOURITE Jonathan Adler pieces!

Visit jonathanadler.com

There are a lot of decorating and design rules out there. What’s one that you think people should just totally ignore?

J | All of them. Don’t worry about rules. If you love it, it will work.

How can homeowners bring a “wow factor” to a room?

J | Start with a bold, graphic rug and you won’t look back.

Worth Avenue Bargello Throw Pillow. $175.

Amsterdam Side Dining Chair.$495.

What are some of your favourite decor stores to shop at?

J | Well, mine! But when I’m in Toronto I like to pop into Artifacts and Elte.

What are some of your favourite pieces you’ve designed for 2015?

J | I’m having a love affair with our new modular Ultra Sectional. It is glamour, glamour, glamour.

And brass – anything brass. Our brass hand nutcracker is surreal – and chic – and will make you want to be constantly surround by a pile of walnuts needing to be de-shelled.

What’s a new trend to embrace this year?

J | Mixing metals. Break your allegiance to just silver or gold and embrace metallic mixing.

Jacques Desk. $3,495.

JANUARY 17 - 31, 2015 NEW CONDO GUIDE 77

MOVE IN NOW THE UPPER BEACH Toronto Life Magazine Top 10 Neighbourhood Steps to GO station and TTC station 11 Minutes to Union Station 15 Minutes to Yonge & Bloor Walk to Queen St. & The Beach

ONLY 5% DOWN Move in 30 days Fabulous features: Granite countertops, Cartier kitchens, Whirlpool stainless steel appliances, 9' ceilings, Oak staircase, Smooth finish ceilings & more.

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From $419,990 to $549,990 PARKING & LOCKER INCLUDED OPEN HOUSE Saturday and Sunday 12-6 pm 2320 Gerrard Street East, Unit 101 T. 416.693.7500 E. info@UpperBeachTownes.com W. www.UpperBeachTownes.com

Now Available!

A new Inventory Condos section: a guide to builders with quick move-in dates for newly constructed and nearly completed condos.

For advertising details please call Dionne Fraser at 416.540.8819 *Prices, specs and availability correct at press time. **Promotion is valid to completed homes & inventory of 12 homes or less.

78 NEW CONDO GUIDE JANUARY 17 - 31, 2015

VIEW OUR MAGAZINES ON ANY

DIGITAL DEVICE anytime, anywhere!

Now you can view all New Condo Guide magazines online using any smartphone, tablet or desktop device.

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Published by

CONDO WATCH

416 Builders: If you would like to include your preview registration, new release or site opening in this feature, just email the details to Lydia.McNutt@wall2wallmedia.com

previews & registrations

new releases & grand openings

THE COLLEGE

By Tribute Communities

AQUAVISTA AT BAYSIDE TORONTO

By Tridel

Located in one of the most vibrant and desirable communities, The College is just steps away from Kensington Market, restaurants in Little Italy and so much more!

Web: TributeCommunities.com

Take your lifestyle to the next level with luxurious lake-side living and breathtaking views.

Web: Tridel.com

MINTO WEST SIDE

By Minto Experience life on the west side.

Register Now. Web: MintoWestSide.com

THE HARLOWE

By Lamb Developments Corp.

Register now to get the latest information on these sleek, chic lofts at Queen and Bathurst.

Web: TheHarlowe.com

ENIGMA ON THE PARK

By Aragon Properties

previews & registrations BLUE DIAMOND AT IMPERIAL PLAZA

By Camrost Felcorp A new elegant tower in the dazzling Forest Hill neighbourhood is coming soon. Register now.

Web: BlueDiamondCondos.ca

MINTO YORKVILLE PARK

By Minto Live at this sought-after Yorkville address, at the corner of Bellair and Cumberland.

Register now.

Web: MintoYorkvillePark.com

CHAZ YORKVILLE

By Edenshaw Homes

Offering 86 park-side loft-style condos and townhomes in the Bloordale neighbourhood.

Register now.

Web: Aragon.ca

TEAHOUSE

By Lanterra East meets the west in this new, Asian-inspired condominium located at 501 Yonge.

Register now.

Web: TeaHouseCondos.com

THE SELBY

By Cityzen Dev./Fernbrook Homes The Selby is a one-of-a-kind architectural vision coming to Sherbourne and Bloor.

Register now.

Web: TheSelbyCondos.com

BROCKTON COMMONS

By Great Gulf

This is Yorkville living at its finest. Register now for Edenshaw Homes’ luxury condos at Bloor and Yonge.

Web: ChazYorkville.com

Located in the vibrant Queen West neighbourhood, Great Gulf’s new project comprises of 36 townhome residences.

Register now.

Web: GreatGulf.com/Brockton

THE EGLINTON

By Menkes

ZIGG

By Madison Homes/Fieldgate Homes

This striking condominium is coming soon to the Yonge and Eglinton neighbourhood.

Register now.

Web: Menkes.com

THE RAVINE Urban Capital

This intimate new building at 223 St. Clair West in Forest Hill is now previewing.

Web: ZiggCondos.ca

PARK TOWERS AT IQ

By The Remington Group

Urban Capital’s newest condominium integrates city and nature. Register now.

Web: TheRavine.ca

The second phase of this exciting new condominium is underway at Islington and Queensway. Register now.

Web: IQCondos.com

THE SOUTHWOOD

By Streetcar Developments

THE KIP DISTRICT

By Concert Properties

Register now for a new condo located in the emerging Upper Beach neighbourhood.

Web: TheSouthwood.com 80 NEW CONDO GUIDE JANUARY 17 - 31, 2015

Concert’s newest master-planned community is coming soon to Kipling and Dundas.

Web: TheKipDistrict.com

DWELL CITY TOWNS

By Menkes New release of urban townhomes located in the heart of Etobicoke.

Web: Menkes.com

RESIDENCES OF 488 UNIVERSITY AVENUE

By Amexon Development Corp.

Presentation gallery is now open, showcasing this elegant, vibrant and graceful condominium coming to University Avenue.

Web: 488University.com

50 AT WELLESLEY STATION

By Plaza Conveniently located in the very heart of Wellesley Station, is a new community that is redefining the Yonge-Wellesley neighbourhood.

Web: PurePlaza.com

90 NIAGARA

By Fieldgate Homes This new boutique residence contains just forty-five luxurious suites in downtown Toronto.

Web: 90Niagara.com

WATERMARK LONG BRANCH

By Queenscorp Residences With four fully furnished model suites now open, see why Watermark is making waves on the Etobicoke Waterfront.

Web: Queenscorp.com

87 PETER

By Menkes New condo coming to a prime location in the heart of Toronto, on Peter Street near King.

Web: Menkes.com

1 YORKVILLE

By Bazis and Plaza Plaza’s release of 1 Yorkville exemplifies luxury, creativity and community in Toronto.

Web: PurePlaza.com

GTA Edition January 17 - 31, 2015

Your complete source for condos, lofts and townhomes in Toronto

IN THIS SECTION Maps and listings for new condo communities in the 416 region Builder news and the latest in condos in the 416

Great Places

Are Defined By Nature Welcome to The Ravine, a master-planned community overlooking the Don Valley in Toronto’s prestigious York Mills neighbourhood. This landmark in the making is adjacent to hundreds of acres of open spaces and parklands. The building has been designed to allow the outside world to flow effortlessly indoors. Perfectly located south of Hwy 401 with easy transportation access everywhere including Downtown.

1 & 2 Bedroom Condominiums from the mid $200’s

416.850.2489

THERAVINE.CA

Prices and specifications are subject to change without notice.

Renderings are artist concept. E.O.&E. 2015

7 NEW CONDO GUIDE JANUARY 17 - 31, 2015

8 NEW CONDO GUIDE JANUARY 17 - 31, 2015

COMING SOON COMING SOON A Bold New AYork Bold Mills New Perspective York Mills Perspective

Rendering is artist concept

Rendering is artist concept

200’s 200’s

1 & 2 Bedroom Condominiums from the mid $ 1 & 2 Bedroom Condominiums from the mid $ 416.850.2489 416.850.2489

THERAVINE.CA

6 NEW CONDO GUIDE JANUARY 17 - 31, 2015

CONDO PROFILE

YORK MILLS’ NEW LANDMARK, THE RAVINE: Where city meets nature

O

ne of Toronto’s most distinguishing characteristics is its incredible system of ravines; verdant valleys that reach deep into the natural topography of the city, integrating the green with the metropolitan in that sublime, uniquely Toronto way. Now, in keeping with this city-nature harmony, comes The Ravine, a new master-planned community set alongside hundreds of acres of ravine park lands in Toronto’s Greenbelt heartland. Located at 1215 York Mills Rd. (at Valley Woods Road), the first phase will include 336 units in 29 storeys starting in the mid-$200’s, with The Ravine

community eventually totalling seven distinctive buildings carefully placed along the perimeter of the natural park lands. With all the urban perks plus a rambling, woodsy, tranquil park literally at your feet, it’s a view of Toronto that’s uniquely tuned to every nuance of every season.

Celebrated innovators Urban Capital have teamed again with ALIT Developments to craft a vision for The Ravine. “We believe this one-of-a-kind location provides for a truly unique opportunity,” says Urban Capital co-founder and partner Mark Reeve. “It’s a gentle process developing a community around natural park lands, but the end result will be something to inspire for years to come. I’m guessing most of our residents have never had a ravine in their own backyard – this will be a lifestyle changer.”

Inspired by Frank Lloyd Wright’s iconic mastery of roughhewn stone and gentle cantilevered slabs, The Ravine makes exquisite use of natural materials to enhance its setting. Such organically whole architectural vision comes courtesy of JANUARY 17 - 31, 2015 NEW CONDO GUIDE 81

Now, in keeping with this city-nature harmony, comes The Ravine, a new master-planned community set alongside hundreds of acres of ravine park lands in Toronto’s Greenbelt heartland Rafael + Bigauskas, with bright, chic interiors by Cecconi Simone.

First impressions at The Ravine begin with the artful cascading canopies at the York Mills entrance, framing a lobby that blurs the line between indoor and outdoor: big, bright glass facades, a soaring wood feature wall, a stone staircase leading to a floating bridge above the 24-hour concierge desk – every element in place for sophisticated city comfort that still lets the outside in. The lobby offers direct access to a Cecconi Simone-designed party room lounge, centred around a distinctive horizontal fireplace with multiple lounge areas, and an adjoining dining room and servery kitchen for more formal occasions. The party room leads to an outdoor terrace that recreates a European-inspired café patio with street-level views.

Elsewhere on the main floor are the fitness centre, golf simulator, and dog-washing bay.

On the eighth-floor rooftop terrace experience allencompassing views of Brookbanks Park and Toronto as it’s seen on a picture perfect postcard. As you take in the city enjoy the rooftop lounge, fire pit, sun deck, barbecue station and outdoor TV. For the yogi in all of us, the outdoor yoga studio will have you realigning your chakra in no time.

Design that reaches far beyond the ordinary to welcome you home. Ample underground parking, bicycle parking, storage lockers. Nearby shopping at every price point, direct access to highways and easy routes downtown. The splendour of the great outdoors right at your doorstep: forests, trails, a playground and splash pad, the tranquil beauty of Deerlick Creek. Room to breathe yet the city in complete reach … The Ravine, naturally York Mills.

The presentation centre is opening in Feb. 2015 at 1213 York Mills Rd. Visit TheRavine.ca.

82 NEW CONDO GUIDE JANUARY 17 - 31, 2015

LOOKING FOR A NEW HOME?

It’s only a tap away.

Find the perfect new home or condo in the neighbourhood that fits your lifestyle.

Start searching now!

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iCONIC

DESIGN

insignia R E S I D E N C E S AT B AY V I E W V I L L A G E

BOUTIQUE CONDOMINIUM LIVING AT BAY VIEW VILL AGE FROM THE MID $300’S

Insignia. Refined elegance meets sophisticated living, across from Bayview Village and steps to the subway, parks, fine dining and more. Welcome home.

REGISTER AT INSIGNIACONDOS.CA OR CALL 416.304.1212

EXCLUSIVE LISTING INTERNATIONAL HOME MARKETING GROUP. BROKERS PROTECTED. PRICES AND SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE. ILLUSTRATIONS ARE ARTIST CONCEPT. E.&O.E.

84 NEW CONDO GUIDE JANUARY 17 - 31, 2015

IN THE NEWS

Making a mark on midtown takes a great partnership TRIDEL AND BEAUX PROPERTIES CELEBRATE THE START OF CONSTRUCTION AT 101 ERSKINE

I

n one of Toronto’s most coveted neighbourhoods –Yonge and Eglinton – Tridel and Beaux Properties have partnered on a new condominium development called 101 Erskine. The project has become a defining factor in the residential renaissance of this midtown location.

Working together on the development from its inception, executives from the two companies recently gathered with a select group of invited guests to mark the official ground breaking and celebrate the sales success of one of 2014’s most celebrated new condominium sites.

“The start of construction marks a critical turning point in the life of a new residential development, but maybe not for the obvious reasons,” says Tridel’s president, Leo Del Zotto. “While it appears to mark the start of the development, it is merely the tip of the iceberg in the life cycle of a new condominium project. Of course to the purchaser, breaking ground is the most obvious sign of progress and an indication that their move-in date is on the horizon. But for Tridel and Beaux, we recognize that the day our construction 86 NEW CONDO GUIDE JANUARY 17 - 31, 2015

trades break ground actually signifies that the majority of our development work is now complete.”

Jason Birnboim, president of Beaux Properties shares Tridel’s enthusiasm for both the project and the milestone the partnership reached, together.

“The start of construction at 101 Erskine is a special event for our purchasers, and for the north Toronto community,” says Birnboim. “But 101 Erskine and the milestones we’ve achieved with Tridel is also special for Beaux. While we have been leaders in the Canadian real estate sector for decades, 101 Erskine is our first residential development in Toronto.

We have consistently identified

and pursued distinct real estate opportunities and this development continues to prove itself to be one of the most special in our portfolio.”

Distinguished by its prime location within one of Toronto’s most sought-after neighbourhoods, 101 Erskine is defined by its smartly tailored, contemporary, 32-storey glass tower designed by CS&P Architects. The building houses a range of tower suites from studio and one-bedroom-plus-den layouts, to two- and two-bedroom-plus-den suites, plus a collection of larger suites with terraces (and nineft. ceiling heights) known as the Signature Collection.

To help meet the high level of market interest, Tridel and Beaux introduced a collection of groundrelated suites earlier last summer, called The Lanes at 101 Erskine.

This limited release of architecturally sophisticated Garden Suites and

Townhome residences includes exclusive access from a private laneway, private landscaped patios and a range of layouts, offering up to 2,354 sq. ft. of living space priced at $1.5 million.

Both the Garden Suites and the Townhomes feature elegant, open floor plans with floor-to-ceiling windows and extra-high ceilings. Exquisite designer kitchens feature European Liebherr and AEG energy-efficient premium appliances, granite or quartz countertops and backsplash, and stainless steel undermount sinks. The residences will also boast spa-inspired bathrooms with signature cabinetry, a choice of quartz or marble vanity top, and choice of marble, granite or porcelain tiles.

“The success of our tower suites, and the overwhelming response to the launch of The Lanes at 101 Erskine has allowed us to exceed our sales projections, and move on to construction ahead of schedule,” says Jim Ritchie, Tridel’s senior vice-president of sales and marketing. “From our amazing location and local amenities, distinctive design, unique mix of residential layouts – in both the tower and at ground level – and our amazing amenities, we were pleased to be able to celebrate the official start of construction, because for both Tridel and our partners at Beaux Properties, 101 Erskine is a project truly worth celebrating.”

For more information on 101 Erskine, please call 416.480.0700, visit tridel.com or drop by the presentation centre located at 2611 Yonge St., open Monday to Thursday from 11 a.m. to 7 p.m.; and Saturday and Sunday from noon to 6 p.m.; closed Friday.

JANUARY 17 - 31, 2015 NEW CONDO GUIDE 87

HOMEBUYERS’ HELP

Planning your new condo purchase: Budget & options

By Anthony Jong

I

recently worked with a young first-time buyer, Steven, who was tired of renting apartments and wanted to become a homeowner. But, like many Millennials who are establishing themselves in the workforce and saving money to purchase a home, it became a daunting task – especially when prices in the Toronto real estate market have increased drastically in the past five years.

A budget of $250,000 does not provide much selection in the real estate market, particularly if the buyer is bound by geographic limitations such as proximity to a subway station, or wants to stay in a downtown Toronto neighbourhood.

During our first meetings, Steven proposed a few locations that were accessible to the subway, but the general theme was new to newer condos. For just under his budget, I was able to find Steven a brand new,

one-bedroom, 585-sq.-ft. condo with a monthly maintenance fee of approximately $0.50 per sq. ft. The unit size was smaller than Steven’s preference, but you would be hard pressed to find a one-bedroom condo on the Bloor subway line that was 20 minutes away from the Financial District under this budget.

A dilemma sprang up one day when Steven decided he wanted more space. However, more space meant more money and with a fixed budget, we had to explore alternative options. With this in mind, we focused our attention on the suburbs of east continued on pg. 90

88 NEW CONDO GUIDE JANUARY 17 - 31, 2015

*Prices and availability subject to change or be withdrawn without notice and do not include taxes. E&O.E.

THIS ISN’T AN EVOLUTION. IT’S A REVOLUTION IN URBAN DESIGN AND MOBILITY.

19 HOMES SOLD SINCE SEPT 27th

ENIGMA ON THE PARK

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Enigma represents more than a subtle shift in urban planning and architectural design practices. It’s a revolution that begins with these 86 parkside loft style condos and townhomes located in the heart of the connected Bloordale neighbourhood. With direct access to the Go Train, expressway and metro lines, the opportunity to be a part of the best in urban design won’t last long—homes range from studio suites at $263,900 to penthouses starting at $369,900. Register today at aragon.ca/enigmalofts.

Call or visit: 138 St. Helen’s Ave, 416.516.1551.

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Presentation Centre ge St

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Dundas St W

#ARAGONFORWARD

Aragon Properties Ltd.

HOMEBUYERS’ HELP continued

Toronto, where the units were not only much larger (averaging over 700 sq. ft. for one bedroom) but the asking price was also 50 per cent less than the aforementioned new condo unit. Steven was very interested in having 100 sq. ft. of additional space and coming in $90,000 below his budget, regardless of the drawbacks which included longer commute times, having to update the unit over time, and higher maintenance fees in a 30-year-old building.

Steven knew he had enough funds for the down payment, but was worried that the monthly mortgage payments between the old and new condo units would be too great a difference. So we eventually sat down and evaluated the numbers. The old condo unit required less down payment, the maintenance fees were $0.70 per sq. ft., but the property taxes and mortgage payments would be lower. The old unit’s monthly cost, excluding utilities, totalled $1,110 per month. On the other hand, the new condo unit required a larger down payment, which Steven was capable of paying. The maintenance fees were only $0.50 per sq. ft. (moderately fair in the first year), although the property taxes plus mortgage payments would be higher. The new unit’s monthly cost, excluding utilities, totalled approximately $1,300 per month.

There are various factors that influenced Steven’s decision to purchase the new condo: ›› Monthly fees were one of the biggest factors that came into play, and the $190 difference in costs per month was very minimal for Steven. ›› The amenities in the new building were far superior to those in the old building, and the savings from a gym membership justified this monthly discrepancy.

90 NEW CONDO GUIDE JANUARY 17 - 31, 2015

›› When we factored in the difference of over $200 per month in maintenance fees between the old and the new condo, Steven knew this money could be better used to pay off his mortgage on a new condo than going to the condo corporation for repairs needed to the old building.

Steven was also very cautious of buying into an older condo. There are plenty of financially sound condo corporations in Toronto and many pride themselves on their maintenance and upkeep of the condominium. However, Steven realized that there was a greater chance that older condos required major repairs and he was not prepared to subsidize the reserve fund and/or be handed a special assessment in the next five to 10 years.

Ultimately, Steven decided that a new condo with new fixtures, appliances and finishes in a superior location was the right fit. Even with a tight budget, it is important to consider a variety of options before leaping into the real estate market.

Anthony Jong is a broker at Re/Max Hallmark Realty Ltd., Brokerage, specializing in homes, condos and commercial properties. Visit online at anthonyjong.ca, email anthonyjong@live.com, or call 416.836.2821

D ITE NLY LIM E O CK TIM $ A B O SH T A UP

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Starting from the mid $300’s

All prices & specifications are subject to change without notice.

E.&O.E. All Illustrations are artist’s concept only. Brokers Protected

Long Branch

3563 Lake Shore Blvd. W., Monday to Wednesday 12 pm to 7 pm Saturday, Sunday & Holidays 11 am to 6 pm 416.354.2221 I queenscorp.com

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Brown’s Line

Presentation Centre

Kipling Ave.

The Most Outstanding Mid-Rise Building

Thirty Fifth St.

Ontario Home Builders’ Association Award Winner

Lake Shore Blvd. W.

DESIGNER ADVICE

UNDER-FOOT FOCUS

By Yanic Simard

Courtesy of Toronto Interior Design Group, photographed by Gillian Jackson

92 NEW CONDO GUIDE JANUARY 17 - 31, 2015

C

hoosing beautiful new wood flooring can dramatically change the mood of your condo interior – brightening, deepening, modernizing or warming up your decor, and more! However, after you’ve decided between material compositions and tantalizing tones, there is another huge decision to make – one that can make or break the impact of your important investment: the layout. Here’s my guide to choosing the right installation pattern to suit your space, so that regardless of what material you choose, you make the most of it!

Straight The most common layout for flooring planks, a straight pattern is typically the easiest to do – especially in standard rectangular or nearly rectangular spaces. In this format, installation usually begins aligned to the longest straight wall, with the planks (or tiles) laid in parallel rows running from one end of the room to the other.

In a straight lay, long lines are created which can help a room to appear longer. The linear format of the boards acts like stripes, visually lengthening that axis of the space.

This layout also typically involves the fewest cuts (since many boards will be installed with no cuts at all), resulting in low material waste and fewer hours of work — perfect for DIYers or those sticking to a strict budget.

Because a straight scheme is so classic, it will never go out of style.

However, some other options can create a lot more drama, or extend the illusion of a vast space even further.

Try this: If a space is actually too long or narrow, like a tight hallway or kitchen, laying the boards or tiles perpendicular to the long axis will help widen the look instead of lengthening it even further, bringing proportion to the space.

Diagonal A variation on a straight layout, a diagonal layout either follows one angled wall (if your unit has a less typical shape) or simply runs from corner to corner of the largest room, refusing to be tied down to any wall at all!

A diagonal layout takes the lengthening power of a straight lay and maximizes it, creating the longest line possible to highlight the full size of an open plan. Diagonal lines also naturally create a dynamic energy, helping the eye move about the space for a livelier atmosphere.

Because a diagonal layout meets all or most walls at an angle, more cuts will need to be made, and the room for error will be higher, lengthening the construction time (and making work tricky for DIY installers).

This look works well in more complex floor plans with no one “best” wall to start from, and elegantly connects adjacent spaces.

Try this: Rather than running the diagonal line directly from corner to corner, use a simple 45-degree angle to keep all the cuts consistent.

Herringbone A herringbone pattern is both a traditional staple and a returned trend, making it a popular choice for creating that high-end look. It’s important though to understand the differences between true herringbone and it’s cousin, the

Choosing beautiful new wood flooring can dramatically change the mood of your condo interior – brightening, deepening, modernizing or warming up your decor, and more!

Photo courtesy of Metropolitan Hardwood Floors

JANUARY 17 - 31, 2015 NEW CONDO GUIDE 93

Photo courtesy of Metropolitan Hardwood Floors

“chevron” pattern. The primary difference between the two variations comes down to cutting: a herringbone layout places boards at right angles to each other, creating repeated zig-zag patterns that recall the weave of a classic suiting material. Chevron layouts create the same zig-zag, but with the boards cut to meet at a 45-degree angle, for a more clean and contemporary effect.

Both of these patterns create a bold statement and a powerful feeling of motion. The preference for chevron’s crisp perfection or herringbone’s more subtle charm comes down to personal taste.

This installation naturally requires more time and patience to achieve than the previous two options. However, the extra cost can be balanced by choosing a less expensive material and letting the layout deliver the drama.

Try this: Consider a herringbone treatment for just a key area, such as an entry vestibule or bathroom tile, to create a moment of interest without committing to the look everywhere.

Complex While it’s often considered safe to stick to the popular stand-bys, unique designs can have their place in your contemporary condo if you keep an open mind. Here are a few more ideas to get your creative flooring juices flowing: 94 NEW CONDO GUIDE JANUARY 17 - 31, 2015

› In a square room, try a square layout: let the wood start from the edges and work into the centre in concentric layers (meeting at a 45-degree angle in the corners. Just make sure the installer plans ahead to achieve a perfect centrepoint!

This look is ideal for a dining area with a central table. › An inset tile treatment can make a perfect visual break in an entryway or kitchen, and will stand up to mucky winter boots or the occasional dropped pot. › Patterns will read as more intentional when applied at a larger scale, so if you’re planning a playful parquet consider using a larger plank to keep the look less busy and more confident. › If your unit is L-shaped (especially if the bend is a more unusual angle), you can change the flooring direction at the intersection – just don’t change it more than once if you can help it, so the look stays mostly consistent.

Yanic Simard is New Condo Guide’s design editor, principal designer of award-winning Toronto Interior Design Group (tidg.ca), and regular guest expert on City’s Cityline. Check out Yanic’s accessory line, Yanic Simard Selected, by visiting online at ysselected.com

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* Due to scale restrictions, locators are approximate. Please see builder’s ads for exact locations.

# Builder 2 Great Gulf 6 Cresford Development Corp.

7 The Daniels Corporation 11 Menkes Developments Inc. 11 Menkes Developments Inc. 12 Streetcar Development 17 Rockport Group 18 Monarch Corporation 18 Urban Capital 20 Menkes Developments Inc. 22 Monarch Corporation 26 Bazis Inc. 27 The Daniels Corporation 35 Menkes Developments Inc. 35 Menkes Developments Inc. 42 Triumph Developments 45 Pinnacle International 48 Minto Communities Inc. 48 Madison Homes 48 Fieldgate Homes 49 Lanterra Developments 50 Cresford Development Corp.

51 Tridel Corporation 52 Cresford Development Corp.

52 Cresford Development Corp.

58 Great Gulf 61 Minto Communities Inc. 65 Aragon Properties 67 Pemberton Group 79 Freed 99 Great Gulf 124 Pinnacle International 140 Eden Shaw 149 Camrost - Felcorp 150 Aspen Ridge Homes 155 Lifetime Developments 190 Cresford Development Corp.

201 Solotex 202 Bazis Inc. 202 Rio Can 202 Metropia 222 Lamb Development Corp.

1 Goldman Group & Lash Dev. Corp.

1 Goldman Group & Lash Dev. Corp.

2 Concord Adex 3 Concord Adex 3 Concord Adex 3 Concord Adex 3 Concord Adex 4 Gairloch Investments 4 Centrestone Urban Developments Inc. 5 Onni Group of Companies 5 Onni Group of Companies 5 Concord Adex 6 Cresford Development Corp.

6 Cresford Development Corp.

7 The Daniels Corporation 8 Cresford Development Corp.

9 Aspen Ridge Homes 9 Cityzen 10 Empire Communities 11 Tridel Corporation 12 North Drive Investment 13 Streetcar Development 14 Canalfa Group 15 Tridel Corporation 16 Freed 18 Urban Capital 18 Urban Capital 19 KIngstone Road Development 21 Easton’s Group 21 Remington Group 21 Easton’s Group 21 Remington Group 22 Tridel Corporation 23 Tribute Communities *TH: Townhomes, C: Condo

Site Telephone TH* C* Price Range Page Finder Yonge+Richmond 416-499-8883 • from $330,000 29 16K Merton Yonge Condominiums 416-484-1900 • from $450,000 120 14e High Park Condominiums 416-351-1844 • from $300,000 43 8L Pears on the Avenue 416-323-0100 • from $420,000 Insert 14I 365 Church 416-591-7700 • from $242,000 Insert 14I The Southwood 416-750-7506 • from $300,000 47 23D The Nest 416-223-0003 • from $250,000 71 11H Riva del Lago 416-495-3544 • from $300,000 Insert 24c RC3 416-862-0505 • • from $220,000 45 18L Fabrik 416-591-7700 • from $292,000 Insert 14M Picasso on Richmond 416-495-3549 • from $400,000 Insert 14M No1 Yorkville 416-519-2911 • from $360,000 5 15I One Park Place South Tower 416-955-0559 • from $250,000 31 18k 87 Peter 416-591-7700 • from $282,000 Insert 15M The Eglinton Yonge at Heart menkes.com • Insert 15D Howard Park 2 416-873-0989 • 73 9L Palatial Collection 416-925-3325 • from $800,000 85 16M Yorkville Park mintoyorkvillepark.com • • from $420,000 25 14J Zigg St.Clair West 416-545-0223 • • from $320,000 67 14J Zigg St.Clair West 416-545-0223 • • from $320,000 67 14J Teahouse 416-861-1111 • from $250,000 3 16K VOX cresford.com • 120 15J Aquavista at Bayside Toronto 416-514-2710 • from $1000,000 IFC 18N CASA 2 416-486-2272 • from $320,000 120 15L CASA III 416-486-2272 • from $390,000 120 15L Monde 416-466-8885 • from $360,000 29 17M West Side mintowestside.com • • from $190,000 51 13M Enigma on the Park 416-516-1551 • from $264,000 89 9L Citylights on Broadway 905-326-4100 • from $200,000 9 14D Art Shoppe Condos artshoppecondos.com • from $200,000 63 14D One Bloor Residences 416-922-0081 • from $620,000 29 15I The Pinnacle on Adelaide 416-596-1600 • from $300,000 85 15M Chaz Yorkville Condos 416-922-0045 • from $300,000 19 16J Blue Diamond at Imperial Plaza bluediamondcondos.ca/cg • from $300,000 1 15I Studio on Richmond 647-352-7736 • from $300,000 53 15M The Bond Condominiums 416-546-7525 • • 23 15G 1000 Bay 416-485-3000 • from $390,000 120 15J Upper Beach Townes 416-693-7500 • from $390,000 78 24G E Condos 416-243-8688 • from $360,000 11 14D E Condos 416-243-8688 • from $360,000 11 14D E Condos 416-243-8688 • from $360,000 11 14D The Harlowe 416-363-1771 • from $273,000 59 15M 530 St. Clair Ave. West 416-868-0500 • from $344,000 12H the rushton rushtonliving.com • from $344,000 12H FWD at Concord CityPlace 416-813-0999 • • 13F Quartz at Concord CityPlace 416-813-2999 • • 15M Spectra at Concord CityPlace 416-813-0999 • • 15N Grand Parade 2 at Concord CityPlace 416-813-0999 • 15M Parade TWO Park Collection at Concord CityPlace 416-813-0999 • from $308,000 15M 383 Sorauren 383sorauren.com from $265,000 9M 383 Sorauren 416-588-0383 from $265,000 9L Garrison at the Yards 416-260-2600 • from $190,000 14n West Lake 416-260-2600 • from $240,000 14N Newton at Concord CityPlace 416-813-0999 • 12F NXT2/Phase Two 416-977-5300 • • from $210,000 5F NXT at Windermere By the Lake 416-977-5300 • • from $350,000 5F The Parkside Collection 416-351-1844 • from $700,000 8L NXT 2 416-977-5300 • • from $300,000 8N VU 416-970-9500 • • from $370,000 16L Riverside in Pine Grove 416-746-1234 3F The HUB 416-784-3482 • from $250,000 9F Sherwood at Huntington 416-485-1900 • from $1000,000 18G The High Park 416-670-3699 • from $300,000 8L Trinity Lofts 416-690-2988 • from $330,000 19l Liberty Place 416-537-0047 • • from $170,000 12N 101 Erskine 416-480-0700 • from $286,000 14D 155 REDPATH 416-996-5428 • from $210,000 14D River City 416-862-0505 • • from $250,000 18L River City 2 416-862-0505 • • from $500,000 18L The Glen 416-694-3333 • from $255,000 23H King Blue Condominiums 416-599-1355 • from $250,000 12N King Blue Condominiums 416-599-1355 • from $200,000 12N Westinghouse Lofts 416-599-1355 • from $200,000 12N Westinghouse Lofts 416-599-1355 • from $200,000 12N Ten York 416-596-9888 • from $1020,000 12F The College 416-363-4800 • from $336,000 M14

Highlighted listings are advertised in this issue of Condo Guide.

Please refer to page number for complete information.

Attention Builders - Want to add your community to our maps?

Need to update existing information? Please fax the details to (416) 789-9554

Builder

Site

Greenpark Homes Tridel Corporation Bazis Inc. Empire Communities Empire Communities Pinnacle International Pinnacle International Tower Hill Development Corporation Worsley Urban Partners Madison Homes Lamb Development Corp.

Centre Court Development Neudorfer Corporation Cresford Development Corp.

Easton’s Group Fernbrook Homes/Cityzen Dev. Lash Group of Companies K-CAP Laird Inc. Tridel Corporation Conservatory Group Pinnacle International Tridel Corporation Lanterra Developments Times Developments Inc. MintoUrban Communities Inc. MintoUrban Communities Inc. Streetcar Development Lanterra Developments Lindvest Canalfa Group Pemberton Group Fernbrook Homes/Cityzen Dev. Lamb Development Corp.

E-Park Development Emsatec Canada Inc Neudorfer Corporation Madison Homes State Building Group Tower Hill Development Corporation Harhay Developments Empire Communities Lamb Development Corp.

Tridel Corporation Tridel Corporation Harhay Developments Carttera Carttera Fernbrook Homes/Cityzen Dev. DHD Developments Lamb Development Corp.

Plaza Menkes Developments Inc. Lifetime Developments Aspen Ridge Homes Context Development Inc. Context Development Inc. The Brownstone Group of Companies The Brownstone Group of Companies Great Gulf Plaza Bazis Inc. Metropia Plaza Pemberton Group Pemberton Group The Daniels Corporation The Daniels Corporation The Daniels Corporation Great Gulf Lifetime Developments Lifetime Developments Concert Properties Triangle West Development Lanterra Developments Tridel Corporation Tridel Corporation Tribute Communities Tribute Communities Graywood Developments Mod Developments Inc. Canderel/Stoneridge Alterra Homes/Finer Space 45 Charles Ltd. BSaR Ltd Andrin Homes Graywood/Beaverhall Development Camrost - Felcorp Camrost - Felcorp Camrost - Felcorp Cityzen Fernbrook Homes Fernbrook Homes Urban Capital Malibu Investments Inc. Alit Developments Tre Memovia Developments Lifetime Developments Castlepoint/Cityzen/Fernbrook Pianosi Developments Sorbara Group Streetcar Development Mizrahi | Khalili Developments Sorbara Group Graywood Developments Mod Developments Inc. Reserve Properties Reserve Properties Pemberton Group Streetcar Development Greenpark Homes The Daniels Corporation Tri-Win Developments Inc MintoUrban Communities Inc. Lifetime Developments Centre Court Development Streetcar Development Menkes Developments Inc. Fieldgate Homes Freed Carttera Mod Developments Inc. Reserve Properties Castlepoint/Numa Dundee Kilmer Developments Dundee Kilmer Developments Torbel Group Pemberton Group Baywood Homes Malibu Investments Inc. Urban Capital TAS DesignBuild Lamb Development Corp.

Lamb Development Corp.

Concord Adex

*TH: Townhomes, C: Condo

Telephone

TH* C*

Price Range

Page

Axiom Condominiums 647-352-4077 • from $225,000 Spadina Queen 416-661-1949 • from $350,000 One Yorkville 416-519-2911 • from $475,000 Water Tower at Eau Du Soleil 416-503-3328 • from $350,000 Eau Du Soleil Waterfront Condominiums 416-503-3328 • from $350,000 Success Tower at Pinnacle Centre 416-360-0673 • from $750,000 33 Bay Residences at Pinnacle Centre 416-925-3325 • from $375,000 Churchill Park Condominiums 416-966-9080 • from $900,000 Totem Condominium 416-792-1877 • from $320,000 The Madison 416-482-8090 • from $420,000 Riverside Towns 416-368-5262 • from $460,000 Core Condos 416-598-2673 • from $220,000 Fuse Condos 416-534-4444 from $220,000 Lofts 399 416-867-3999 • from $590,000 Dundas Square Gardens 416-645-8575 • from $200,000 Garrison Point garrisonpoint.ca • from $250,000 The Barrington Condominiums Flats 416-410-4444 • from $350,000 The Upper House Condos in Leaside 416-425-1800 from $350,000 Alter 416-645-4599 • from $250,000 Milan 416-928-7409 • from $520,000 The PJ pinnacleinternational.ca • from $300,000 Aqualina at Bayside 416-514-2710 • from $350,000 11 Wellesley 416-861-1111 • from $250,000 The 500 Condos + Lofts 416-960-0606 • from $400,000 King West 416-367-5464 • from $210,000 775 King West 416-367-5464 • from $330,000 Riverside Square 416-466-4466 • from $200,000 3018 Yonge In Lawrence Park 416-787-8882 • from $390,000 B Streets 416-532-6636 from $635,000 Liberty Central by the Lake 416-537-0047 • • The Uptown Residences 416-987-3500 • from $950,000 The Selby theselbycondos.com • The Brant Park 416-368-5262 • from $262,000 Foundry Lofts 416-531-7760 from $399,000 The Brownstones 5 416-531-7760 • from $350,000 Brownstones 416-531-7760 • from $305,000 The Upper Canada Condominium 416-489-5194 • from $1800,000 The Upper Canada Condominiums 416-489-5194 • from $1.8,000 2221 Yonge 647-350-2221 • from $320,000 East Condos & Lofts 416-368-5262 • from $310,000 Schoolhouse 416-979-1333 • from $595,000 Flatiron Lofts 416-368-5262 from $243,000 300 Front Street West 416-217-0300 • from $324,000 Atmosphere 416-217-0300 • from $1200,000 One Eleven Condominiums & Lofts 647-347-4111 • from $250,000 One Eleven Condominiums & Lofts 647-347-4111 • from $250,000 One Eleven Condominiums & Lofts 647-347-4111 • from $250,000 Pier 27 Waterlink 416-367-3456 • from $800,000 Gooderham Condos at The Distillery 416-361-1322 • from $390,000 The King East 416-368-5262 • from $435,000 King West 647-341-1731 • from $346,000 Four Seasons Private Residences Toronto 416-775-7500 • from $1900,000 Four Seasons Private Residences Toronto 416-775-7500 • from $1900,000 Seventy Seven Charles Yorkville 416-203-7034 • from $2100,000 Market Wharf 416-861-8181 • from $260,000 Library District Condominiums 416-861-8181 • from $222,000 Brownstones in Davenport Village 416-531-7760 from $245,000 Brownstones on the Park 416-531-7760 • from $260,000 Charlie 416-927-9772 • from $960,000 Ivory On Adelaide 647-341-1731 • from $279,000 Exhibit 416-967-7778 • Exhibit 416-967-7778 • Exhibit 416-967-7778 • U Condominiums 416-546-6605 • from $750,000 The Urban Townhome Collection 416-546-6605 • from $1899,000 One Park West 416-955-0559 • from $406,000 One Park Place Condominiums 416-955-0559 • from $200,000 Festival Tower 416-203-2020 • from $350,000 X2 416-927-0080 • from $500,000 X2 416-927-0080 • from $303,000 Bisha Hotel & Residences 416-637-2211 • from $274,000 88 Scott 416-216-8588 • Art Condos 416-535-7775 • from $530,000 Riverhouse at the Old Mill 416-766-7343 • from $500,000 Two Old Mill 416-645-7022 • from $356,000 Old Mill 416-645-7022 • from $450,000 RCM I on University 647-351-9247 • from $393,000 Queen & Portland 416-363-4800 • from $315,000 5 St. Joseph 416-928-0555 • • from $250,000 5 St. Joseph 416-928-0555 • • from $250,000 DNA 3 416-929-1030 • from $220,000 Post House Condominium 416-964-2777 • from $350,000 Chaz Yorkville Condos 416-922-0045 • from $300,000 12 Degrees 416-408-1200 • from $350,000 The Berwick 416-922-9425 from $280,000 The Mercer 416-597-6940 • from $350,000 Imperial Plaza 416-925-2501 • from $986,000 Yorkville Plaza 416-966-3003 • Yorkville Plaza II 416-966-3003 • Backstage on the Esplanade 416-777-2533 Backstage on the Esplanade 416-777-2533 Vero 416-798-7070 from $250,000 Tableau Condominiums 416-591-8887 • • from $450,000 Tableau Condominiums 416-591-8887 • • from $350,000 Tableau Condominiums 416-591-8887 • • from $350,000 Carmelina 416-423-8500 • from $325,000 The Yorkville Condominiums 416-987-3344 • • from $550,000 L Tower 416-777-2533 • from $410,000 Perspective Condos 416-242-3500 from $296,000 thirtytwo Camden 416-860-0060 • from $240,000 8 Gladstone 416-690-9009 • from $335,000 133 Hazelton Residence 416-926-9900 • 210 Simcoe 416-217-0210 • from $420,000 Five Condos 416-928-0555 • • from $375,000 Five Condos 416-928-0555 • • from $375,000 Rise 416-546-7399 • • from $290,000 Model Suite of the Month • Neon 416-987-7878 • from $470,000 The Carlaw 416-690-8588 • from $200,000 Allure Condominiums 416-487-7600 • from $350,000 Cinema Tower Condominiums 416-203-2020 • from $450,000 FAD Condos 416-815-1818 • from $250,000 30 Roe 416-915-3812 • from $350,000 INDX 416-987-4639 • INDX 416-987-4639 • The Carnaby 416-690-9009 • from $250,000 Noir 416-977-8780 • from $250,000 90 Niagara 416-981-0036 from $347,000 SIXTY Colborne 416-601-0060 • from $300,000 SIXTY Colborne 416-598-7775 • from $300,000 The Massey Tower 416-966-0197 • • from $320,000 109OZ 416-531-4844 • from $300,000 The Sterling 416-777-2533 • • from $230,000 Canary District Condominiums 416-603-7576 • from $250,000 Canary Park Condominiums 416-603-7576 • from $250,000 Wallace Walk 416-531-1818 • from $210,000 TEN93 Queen West 416-546-6355 • from $280,000 TEN93 Queen West 905-326-4100 • from $280,000 Smart House 416-292-0219 • from $438,000 Smart House 416-292-0219 • from $438,000 Duke Condos junctionlife.ca King Charlotte 416-368-5262 • from $416,000 Theatre Park 416-368-5262 • from $537,000 FWD at Concord CityPlace 416-813-0999 • •

Highlighted listings are advertised in this issue of Condo Guide.

Please refer to page number for complete information.

Finder 17L 15D 15I 25B 25B 17m 17m 13H 15H 14E 19L 16L 9k 14L 17k 13N 12H 18D 16J 15I 15L 18N 15J 17I 14M 14M 19L 14B 13J 11F 16J 16J 14M 9I 9I 9I 14G 14G 14D 16M 13i 20J 15M 15M 13M 13M 13M 17N 18L 18L 13N 15I 15I 14J 17M 17M 9j 9J 14M 17L 14i 14i 14i 15K 15K 18J 18J M14 16J 16J 16m 17M 12N 5L 5L 5L 14M 15I 16J 16J 12N 16L 16J 15L 14E 15M 15I 15I 15I 17M 17M 17M 15L 15L 15L 23J 15G 17L 4H 14L M12 14I 15M 15J 15J 12H 12H 14D 19K 14F 14M 14M 14E 16M 16M 12M 15M 14O 16L 16L 16L 12M 9L 18L 18L 9L 12F 12F 15L 15L 8K 15M 16M 15M

Attention Builders - Want to add your community to our maps?

Need to update existing information? Please fax the details to (416) 789-9554

torontoregionalmaps: Toronto, East York, York

# 24 25 26 28 28 29 29 30 31 32 33 34 36 37 38 40 41 43 44 46 47 51 53 54 55 55 56 57 59 60 62 63 64 66 66 66 70 70 71 72 78 81 83 84 85 85 85 88 94 101 102 103 103 104 106 106 109 109 110 114 117 117 117 118 118 120 120 122 126 126 128 129 130 131 131 131 133 134 135 135 136 137 140 141 142 148 149 149 149 151 151 151 153 153 153 154 155 157 162 165 170 173 175 179 179 184 184 185 186 188 189 191 192 195 195 197 198 199 200 200 206 207 210 215 215 217 217 217 218 218 219 220 221 223

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torontoregionalmaps: North York

* Due to scale restrictions, locators are approximate. Please see builder’s ads for exact locations.

98

#

Builder

6 9 11 40 121 1 2 3 3 4 4 5 6 6 6 6 7 8 10 10 10 14 21 25 25 28 33 37 49 50 50 95 96 96 96 96 99 101 122 122 122 123 124 125 128 128 130 132

Concord Adex Sorbara Group Castle Group Menkes Developments Inc. Liberty Development Corp.

Concord Adex Torbel Group YYZed Project management Tiffany Park Homes Tridel Corporation Tridel Corporation Lindvest Concord Adex Concord Adex Concord Adex Concord Adex Fram Building Group Conservatory Group Bazis Inc. metropia Plaza Torbel Group Tridel Corporation Context Development Inc. metropia Tridel Corporation Castle Royale Development Norstar Group of Companies Greenland Group MintoUrban Communities Inc. Devron Developments Aspen Ridge Homes ELAD Canada ELAD Canada ELAD Canada ELAD Canada The Brown Group of Companies Kantium Development Lanterra Developments Lanterra Developments Lanterra Developments Brandy Lane Homes Tridel Corporation Fram Building Group The Daniels Corporation The Daniels Corporation Tribute Communities Fram Building Group/Cadillac Fairview

*TH: Townhomes, C: Condo

Site

Telephone

TH* C*

Price Range

Page

Omega on the park 416-813-2999 • • 40-41 Beacon beaconcondos.ca • from $290,000 55 Insignia Residences at Bayview Village 416-304-1212 from $350,000 84 Gibson Square 416-730-9722 • from $836,000 Insert World on Yonge 905-771-7010 • from $284,000 37 Opus 416-813-2999 • • The Avanti Condominiums 416-636-0400 from $390,000 VISTO vistocondos.ca from $220,000 Westhaven 416-792-6655 • from $633,000 Hullmark Centre 416-733-2883 • from $524,000 Aristo at Avonshire 416-730-0300 • from $383,000 The Brownstones at Westown lindvest.com from $330,000 Tango at Concord Park Place 416-813-2999 • • from $236,000 Discovery at Concord Park Place 416-813-2999 • Discovery II at Concord Park Place 416-813-2999 • • from $210,000 Tango2 at Concord Park Place 416-813-2999 • from $265,000 SOUL mysoulcondos.ca from $250,000 Pearl 2 Condominiums 416-512-1818 • Emerald Park 416-221-8802 • from $188,000 Emerald Park 416-221-8802 • from $188,000 Emerald Park 416-221-8802 • from $188,000 Diva Condo DivaCondo.com from $225,000 Argento 416-663-1818 • from $562,000 The Yorkdale Condominiums 416-781-9990 • from $170,000 The Yorkdale Condominiums 416-781-9990 • from $170,000 Alto at Atria 416-645-8866 • from $288,000 The Palm Condominium Residences 416-306-1000 • from $400,000 Portrait Condominiums 416-282-9600 • from $300,000 King Blue 416-599-1355 • from $250,000 88 416-915-3805 • from $325,000 Flo Condominiums 647-799-0356 • from $250,000 Scenic on Eglinton 416-805-1781 • Emerald City Condominiums 416-492-0001 • from $256,000 Dreamtower At Emerald City 416-492-0001 • from $248,000 Biyu Emerald City biyucondos.com • from $250,000 The Colours of Emerald City coloursofemeraldcity.com • from $250,000 Willow Park at Bayview 416-221-6767 • from $400,000 Posh Condominiums 905-771-0134 • from $544,000 Treviso Condominiums 416-787-8882 • from $250,000 Treviso II 416-787-8882 • from $250,000 Treviso III 416-787-8882 • from $250,000 The Station 416-398-9777 • from $420,000 Trio at Atria 416-645-8866 from $255,000 LIV Lofts 416-445-5638 • from $250,000 NY Place 416-221-3939 • from $250,000 NY2 416-221-3939 from $250,000 Canterbury 647-352-2130 • • from $700,000 Flaire Condos 416-445-8868 • from $320,000

Highlighted listings are advertised in this issue of Condo Guide.

Please refer to page number for complete information.

Finder 22C 17C 20C 17C 18A 22C 17C 8E 23G 18D 18D 4C 22C 22C 22C 22C 25C 17C 17C 17C 17C 11C 22e 12E 12E 25D 17B 13C 13N 18c 18c 23G 24C 24C 24C 24C 21 16A 12F 12F 12F 12D 24C 22F 19C 19C 19F 22F

Attention Builders - Want to add your community to our maps?

Need to update existing information? Please fax the details to (416) 789-9554

1

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Islington Ave

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Kipling Ave

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Westway

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409

Rathburn Rd

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40

Dixon Rd

ett R Scarl

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44

34 Bloor St W

d

Dundas St W

35 Queensway

46

* Due to scale restrictions, locators are approximate. Please see builder’s ads for exact locations.

70

11 56 4 39 37 6 33 17 18 19

Gardiner Expressway Evans Ave 2

Horner Ave

h

50 8 5 51

Park Lawn

QEW

16

Royal York Rd

Scarborough

9

*TH: Townhomes, C: Condo

25

d

62

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Builder Tridel Corporation Concert Properties Monarch Corporation Menkes Developments Inc. Queenscorp Residences Liberty Development Corp.

Monarch Corporation Pemberton Group Insoho Developments Stanton Renaissance Stanton Renaissance Devron Developments Lemine Investment Group Monarch Corporation Monarch Corporation Conservatory Group Great Gulf Menkes Developments Inc. Wilkinson Developments Lash Group of Companies Carttera Camrost - Felcorp Camrost - Felcorp National Homes Averton Homes Infinity Developments Esquire Homes Times Group Corp.

ICON Homes Henderson Development Limited Monarch Corporation Empire Communities Edilcan Development Corp.

Tridel Corporation Amexon Development Corporation Tridel Corporation Remington Group Alterra Homes/Finer Space Tridel Corporation Phantom Developments Your Home Developments VHL Developments Ltd. VHL Developments Ltd. Royale Grand Woodbine Developments MintoUrban Communities Inc. First Avenue Properties Lash Group of Companies

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Martin Grove Rd

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Finch Ave W

Ranforth Dr

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# 8 16 18 21 25 28 39 50 1 2 2 3 3 4 5 6 7 7 9 10 10 11 11 12 13 14 15 17 19 20 29 33 34 35 37 44 46 51 55 56 60 61 61 62 65 70 71

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East Ave Port Union Rd

Orton Park Rd

Markham Rd

St. Clair Ave

Scarborough Golf Rd

McCowan Rd

* Due to scale restrictions, locators are d 1 see builder’s ads approximate. Please n R for sto exact locations. ng

Victoria Park

g

Bellamy Rd

Lawrence Ave E

3

n Dr

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Brim

Eglinton Ave E

f

71

17

Humberline Dr

Progress Ave

29 20

Brimley Rd

Warden Ave

Pharmacy Rd

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61

Birchmount Rd

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Kennedy Rd

Ellesmere Rd

16

427 Morrish Rd

55 Midland Ave

401

401

15

Beare Rd

13

14

Sheppard Ave E Conlins Rd

Milner Ave

13

Meadowvale Rd

Sheppard Ave E

Ave

Morningside Ave

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McL

12 Reesor Rd

Huntingwood Dr

c

11 Sewells Rd

Finch Ave E

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Neilson Rd

McNicoll Ave

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Tapscott Rd

McCowan Rd

A

6

65

25

Lakeshore Blvd W

Site Telephone TH* C* Price Range Page Finder Islington Terrace 416-645-8862 • from $250,000 BC 23F The KIP District thekipdistrict.com • from $249,000 69 22F Lago 416-495-3544 • from $200,000 Insert 25c Dwell City Towns 416-259-2525 • from $390,000 Insert 20F Watermark 416-354-2221 • from $350,000 91 23H Terrace on Danforth 416-987-7575 • from $253,000 37 2G Waterscapes 416-495-3544 • from $400,000 Insert 26H Vivid Condos 416-239-8200 • from $250,000 8 23F Imagine Condos 416-367-7303 from $235,000 4F On The Go Mimico 647-692-8417 • from $250,000 23H On The Go 647-692-8417 • from $250,000 23H The Academy academycondos.com • from $220,000 10D The Academy academycondos.com • from $220,000 10D Nautilus at Waterview 416-203-6636 • from $400,000 25H The Epicurean 416-495-3530 • from $250,000 24F Altitude 416-321-1659 • from $230,000 25H One Sherway Condominiums 416-695-3535 • from $280,000 20G One Sherway Condominiums 416-695-3535 • 20G Hunt Club Terrace 416-698-3020 • 2H Cloud 9 Condominiums 416-747-0199 • from $230,000 22B Cloud 9 Condominiums 416-800-0812 • from $230,000 22B ilofts at Mystic Pointe 416-251-8888 • from $310,000 25G California Condos 416-251-8888 • from $242,000 25g Richview 416-746-1234 • from $570,000 23D Jasmine Condominiums 416-702-1234 • from $250,000 2C Residences at The Hunt Club 416-699-1711 • from $300,000 2G Three Seven Condos & Lofts esquirehomes.ca • from $210,000 12D Key West Condominium keywesttorontocondo.com from $320,000 25H Royal York Urban Towns 416-901-0206 • from $220,000 24H Centro 416-296-1898 • from $185,000 5D Encore 416-495-3544 • 6D Beyond The Sea Star Tower Condominiums 416-979-1333 • • from $400,000 24H Triumph at Valhalla 416-233-5554 • from $250,000 21F Parc Nuvo at Essex 416-231-0999 • from $456,000 22g South Beach 416-252-3000 from $209,000 25H West Village 416-620-1887 • from $290,000 20F Park Towers at IQ 416-253-5838 • from $170,000 23G Westwood Condominiums 416-239-9888 • from $250,000 23F Avani At Metrogate 416-293-5535 • from $240,000 4C Jade Condominiums 416-762-8818 • from $293,000 25G Nature’s Path 416-745-6686 • • from $270,000 11E 2150 Condos 416-750-2150 • 3E Haven On The Bluffs 416-2611-9555 • from $160,000 3E Lexington 416-638-8444 • from $240,000 21C South Shore 416-913-2136 • from $350,000 22H Qube Condos 647-351-7823 • from $200,000 24G Me Condos 416-430-0003 • from $250,000 8D

Highlighted listings are advertised in this issue of Condo Guide.

Please refer to page number for complete information.

Attention Builders - Want to add your community to our maps?

Need to update existing information? Please fax the details to (416) 789-9554

torontoregionalmaps: Scarborough, Etobicoke

99

2

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4

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9

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11

12

13

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* Due to scale restrictions, locators are approximate. Please see builder’s ads for exact locations.

100

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Builder

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Menkes Developments Inc.

TH* C*

Price Range

Harbour plaza

Site

416-591-7700

Telephone

•

from $350,000

Page Insert

Finder 14F

4 tridel corporation

AquaVista at Bayside Toronto

416-514-2710

• from $1,000,000

IFC

16E

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The Southwood

416-750-7506

• from $300,000

47 23D

18 URBAN CAPITAL

RC3

416-862-0505

• from $220,000

45 16F

58 GREAT GULF

Monde

416-466-8885

• • from $360,000

2

Concord Adex

FWD at Concord CityPlace

416-813-0999

3

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Quartz at Concord CityPlace

3

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416-813-0999

• •

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ParadeTWO Park Collection at Concord CityPlace

416-813-0999

• from $308,000

15M

Monarch Corporation

Nautilus at Waterview -

416-203-6636

• from $400,000

25H

4

tridel corporation

Aqualina at Bayside Toronto

416-514-2710

•

16E

5

Cresford Development Corp.

NXT at Windermere By The Lake

416-977-5300

• • from $350,000

11f

5

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NXT2/Phase Two

416-977-5300

• • from $210,000

4E

8

CONCORD ADEX

Spectra at Concord CityPlace

416-813-0999

• •

14F

10 Great Gulf

Twenty Lombard

416-499-8883

• from $492,000

16K

11 CAMROST FELCORP

California Condominiums

sunsetcondos.ca

• from $242,000

25G

18 URBAN CAPITAL

River City 2

416-862-0505

• from $276,000

16F

29 PINNACLE INTERNATIONAL

33 Bay Residence at Pinnacle Centre

416-925-3325

• • from $375,000

15F

60 CANALFA GROUP

Liberty Central by the Lake

416-537-0047

11F

*TH: Townhomes, C: Condo

Highlighted listings are advertised in this issue of Condo Guide.

Please refer to page number for complete information.

•

Attention Builders - Want to add your community to our maps?

Need to update existing information? Please fax the details to 416-789-9554

Phillip M

Finder

Insert

13B

Newcastle 416-495-3544

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905-271-5038

• from $280,000

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On The Go

647-692-8417

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chestnut hill development

San Francisco By The Bay

905-831-3631

• • from $180,000

23J

Eau Du Soleil - Waterfront Condominiums

416-503-3328

25B

• from $320,000

Attention Builders - Want to add your community to our maps?

Need to update existing information? Please fax the details to 416-789-9554

waterfrontmaps: GTA

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Highlighted listings are advertised in this issue of Condo Guide.

Please refer to page number for complete information.

Bloor St

Manvers

Scugog

• from $400,000

Park Rd S

Price Range

Centre St.

TH* C*

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Gibb St

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416-495-3544 48

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Country Lane

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Park Law n Cedarbrook T

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400

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Salem Rd

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Delaney Dr

Harwood Ave

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* Due to scale restrictions, locators are approximate. Please see builder’s ads for exact locations.

69

Rossland Rd

27

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101

CONDO WATCH

9 5 Builders: If you would like to include your preview registration, new release or site opening in this feature, just email the details to Lydia.McNutt@wall2wallmedia.com

new releases & grand openings

previews & registrations

LEGACY PARK

By Liberty Development Corp.

SENSES CONDOMINIUMS

By Empire Communities

Live in Thornhill’s most connected community at Bathurst and Centre Street.

Web: LegacyParkCondos.com

PINNACLE GRAND PARK 2

By Pinnacle International Brand new suites are now on sale at Pinnacle Gran Park 2, the newest addition to Mississauga’s skyline.

Web: PinnacleGrandPark.ca

HOT CONDOMINIUM

By Great Gulf Phase 3 final release of this stylish boutique condominium is now on sale at Winston Churchill and Eglinton.

Web: GreatGulf.com

PACE ON MAIN

By Geranium Homes Luxury suites are coming soon to Stouffville’s boutique condominium address.

Web: GeraniumHomes.com

Indulge all your senses and live life to the fullest in one of Oakville’s best locations.

Register now.

Web: SensesCondos.com

OMEGA ON THE PARK

By Concord Adex Give in to your better nature and register for the latest information on Omega at Concord Park Place.

Web: ConcordParkPlace.com/Omega

THE MET CONDOS

By Plaza The Met takes comfort and luxury to a whole new dimension.

Web: TheMetCondos.com

CENTRO SQUARE CONDOS

By Liberty Development Corp.

Live luxuriously in a stylish condo at one of the best corners in Woodbridge.

Web: CentroSquare.ca

CRYSTAL

By Pinnacle International Register now for all the latest information on this master-planned community in Mississauga.

Web: PinnacleUptown.ca

DANIELS ERIN MILLS

By The Daniels Corp.

This new addition to Mississauga will make you love where you live, work and play.

Web: DanielsErinMills.com

THE BERKELEY

By Carriage Gate Homes A hotel-inspired condominium is coming to Caroline Street and Elizabeth Street in Burlington.

Web: TheBerkeleyCondo.com

102 NEW CONDO GUIDE JANUARY 17 - 31, 2015

GTA Edition Jan 17 – 31, 2015

Your complete source for condos, lofts and townhomes in the GTA

IN THIS SECTION Maps and listings for new condo communities in the 905 region Builder news and the latest in condos in the 905 JANUARY 17 - 31, 2015 NEW CONDO GUIDE 103

I BUILD PARTNERSHIPS. “Our company’s BILD membership allows us to reach out to our customers and provides us with the opportunity to support them in ways that would not have been possible without membership. I have the opportunity to network and learn from many people which helps grow our company by identifying potential energy efficient programs.

Thank you BILD!”

Margaret Ward, Channel Consultant Enbridge Gas Distribution Inc., Manufacturer / Supplier Member Since 1954

I AM

Get Involved: bildgta.ca

FINANCES

Snowbirds: Flee the deep freeze, not the tax squeeze

By Wayne Karl

T

he holidays are over, the deep freeze is on and Reading Week and March Break are on the not-too-distant horizon. These are the times when many Canadians dream of heading to sunnier climates to escape the chill of winter, many of them looking to buy a vacation home.

Over the last few years, increasing numbers of Canadian snowbirds have taken advantage of a

strong dollar and affordable housing in Florida, Arizona and other popular areas.

But Canadians who spend time on both sides of the border should be aware of new border crossing rules announced last year by the federal government – plus a strengthening U.S. dollar.

“Now, with the American economy and employment gaining strength, home sales should gather some momentum,” Sal Guatieri, senior economist, BMO Capital Markets, said in a recent report.

“We expect prices to rise over time alongside growing family incomes.

“We also expect the U.S. greenback to rise moderately further against the Canadian dollar, boosting capital gains appreciation for Canadians who purchase U.S. property.”

So, as you’re sipping margaritas on the beach, remember that the Tax Man wants a little taste.

A recent report by Jamie Golombek, managing director of tax and estate planning at CIBC, warns Canadians that owning foreign property doesn’t mean it’s beyond the reach of Canadian tax authorities.

“Many Canadians who own U.S. vacation homes are unaware that certain events may trigger taxes,” says Golombek. “If you earn rental income on the property, sell or gift the property, or own the property upon death, taxes may need to be paid in both the U.S. and Canada.” continued on pg. 108

106 NEW CONDO GUIDE JANUARY 17 - 31, 2015

O WHAT FUN! It’s that “O!” moment. The moment you realize that everything you could ask for was right here all along. The moment of pure elation inspired by contemporary townhomes, woodland settings, shopping, restaurants, walking trails and anything else you could imagine. Register now to experience that “O!” moment with us.

Coming early 2015 Oakville’s visionary masterplanned community from the low $400s* Register now for your Preview Opening Invite at Oakvillage.ca

A JOINT DEVELOPMENT BY

*Prices and specifications are subject to change without notice. E.&O.E.

JANUARY 17 - 31, 2015 NEW CONDO GUIDE 107

FINANCES continued

Golombek offers the following tax tips for Canadians who own a U.S. vacation home: » Although income and capital gains may be taxed in both the U.S. and Canada, you can generally claim a foreign tax credit to reduce Canadian tax. » When selling your U.S. vacation home, consider claiming the principal residence exemption to reduce or eliminate your taxable capital gain in Canada. » Gifting a U.S. vacation property is generally not recommended, since it could result in a significant tax bill in both the U.S. and Canada. » Consider whether to implement strategies to reduce or eliminate U.S. estate tax that may apply if you own your U.S. vacation home upon death. Common strategies include holding the property in a trust, taking out nonrecourse debt, joint ownership as tenants in common, or using life insurance to cover the tax liability. » Consult with Canadian and U.S. tax advisors – preferably prior to purchasing U.S. real estate. » “If you’re a Canadian resident with a U.S. vacation home, taxation can become quite complex, with both Canadian and U.S. taxes to consider,” says Golombek. “With good planning, however, you can minimize the impact of taxes on your dream U.S. vacation home so that you and your family can enjoy it for years to come.”

Over the last few years, increasing numbers of Canadian snowbirds have taken advantage of a strong dollar and affordable housing in Florida, Arizona and other popular areas

108 NEW CONDO GUIDE JANUARY 17 - 31, 2015

If you’re still determined to buy that little piece of paradise, BMO offers the following tips: » Consider how many months of the year you’ll be living there so that your purchase reflects your lifestyle.

As of June 30, 2014, if you exceed 183 days in the U.S. in a year, you become subject to U.S. tax laws. » Since you are responsible for property maintenance, consider how easily you can access your property (and at what costs) from your Canadian home throughout the purchasing process and after acquisition. » Research the differences in mortgage financing and how interest is charged in the U.S., and understand the impact of penalties and withholding taxes if and when you decide to sell your home in the U.S. » Understand the terms of the property: Is it labeled a short-sale or on foreclosure? The status of the property can have a variety of implications. » Is your purchase for investment or lifestyle purposes? This will affect where you buy and how you hold the property. If your purchase is for income purposes, renting your property means added responsibility.

Research the possibilities of increased utility usage, property management needs and the vacancy rate in the area.

LIVE LIFE

VISIT US TODAY!

Live Free FOR A YEAR PROGRAM COMMISSION

INCLUDES:

$10,000 CASH BACK

ON CLOSING & MAINTENANCE FREE FOR 1 YEAR

FREE PARKING ($25,000 VALUE) FREE LOCKER ($2,500 VALUE) ACCESS TO THE GRAND SPA EASY DEPOSIT STRUCTURE

THE KEY TO YOUR PALACE AWAITS Two towers are now on sale. Visit us this weekend and experience the key to happiness – Luxury Living at affordable prices.

To learn more about Richmond Hill’s Grand Palace, visit www.grandpalace.ca or call 905.907.4370

VISIT US AT 9612 Yonge St., Richmond Hill

16TH AVE.

BAYVIEW AVE.

WELDRICK RD.

YONGE ST.

MAJOR MACKENZIE DR.

Prices & specifications subject to change without notice, E. & O. E.

JANUARY 17 - 31, 2015 NEW CONDO GUIDE 109

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905 regionalmaps: Burlington, Brampton, Mississauga, Oakville, Further West, Further North

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1

Vandyk Communities

The Craftsman

3

Pinnacle International

The Marquee Townhomes on the Park

905-568-9000

30 Pinnacle International

Pinnacle Grand Park 2

30 Pinnacle International

Page

Finder

from $300,000

105

21N

•

from $700,000

85

20K

905-276-3981

•

from $200,000

85

20L

Pinnacle Grand Park

905-276-3981

•

from $300,000

85

20L

34 Pinnacle International

Pinnacle Uptown, Crystal

905-568-9000

•

from $200,000

85

19K

47 The Daniels Corporation

Daniels Erin Mills

905-306-6996

•

from $250,000

27

17M

Atwater Condos

905-271-5038

•

from $280,000

24L

The Clairington

905-793-0002

•

from $230,000

16E

2

Windcatcher Development Corporation

3 Castleridge Homes

craftsmancondos.com

Price Range

4

Conservatory Group

Mirage

905-232-2400

•

from $270,000

20K

5

AMACON

PSV2

905-273-9333

•

20L

7

Great Gulf

HOT

905-828-4257

•

from $330,000

16M

8

Fernbrook Homes

Absolute World

416-869-6057

•

from $188,000

21k

8

Cityzen

Absolute World

416-869-6057

from $188,000

21K

10 AMACON

The Residences at Parkside Village

905-273-9333

•

from $,000

21K

12 Alterra Homes

Renaissance in Olde Brampton

416-710-1010

•

from $490,000

13H

14 Pemberton Group

Rosedale Village Golf & Country Club

905-799-5000

•

from $346,000

13F

15 ADI Development Group

Link2 Condos+Lofts

905-592-2028

•

from $195,000

5M

16 Vandyk Communities

Windows on the Green

905-822-3333

from $300,000

19N

17 Pemberton Group

Downtown Erin Mills Condominiums

905-630-6300

•

from $300,000

18M

18 Retirement Lifestyle Communities

Palisades on the Glen

905-820-8210

•

from $290,000

18N

20 Carriage Gate Homes

The Berkley Downtown Burlington theberkeleycondo.com

•

5M

21 Casino Bay Dev. Corp./Toddglen

Panoramic Point at Brewery Bay

1-866-611-5525

•

from $264,000

7Q

27 Inzola Group

Park Place

905-451-7001

•

from $310,000

14H

32 Armour Heights Developments

River’s Edge

905-533-2400

•

from $285,000

14A

35 Ashley Oaks Group

Emporium at Joshua Creek

905-618-0660

•

from $200,000

17O

38 Tridel Corporation

Metrogate - Ventus 2

416-293-5535

•

•

from $302,000

19J

38 Tridel Corporation

Ventus at Metrogate

416-293-5535

•

•

from $344,000

19J

45 Empire Communities

Rain Condominiums

905-845-7246

•

from $200,000

17Q

46 Mattamy Homes

The Mount Pleasant Village

mattamyhomes.com

•

from $200,000

20K

*TH: Townhomes, C: Condo

Highlighted listings are advertised in this issue of Condo Guide.

Please refer to page number for complete information.

•

•

Attention Builders - Want to add your community to our maps?

Need to update existing information? Please fax the details to (416) 789-9554

905 regionalmaps: Burlington, Brampton, Mississauga, Oakville, Further West, Further North

#

111

1

A

2

3

4

5

6

7

8

9

10

11

12

13

14

15

* Due to scale restrictions, locators are approximate. Please see builder’s ads for exact locations.

16

17

18

19

20

East

Site

Telephone

2

34

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Town of Markham

46

12

5

7 407

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Bullock D r Hw y 7

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28

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407

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Leslie St

Leslie St

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Richmond Hill

Rutherford Rd

400

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St

20

Regent St M illSt

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19th Ave.

24

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401

G am ble Rd

Bathurst St

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22

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11

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Cr

Teston Rd

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Jane St

Kirby Rd

N ashville Rd

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Cold Cree k Rd

12 Line Rd

King-Vaughan Rd

Tow n of Ajax

City of Pickering

Yonge St

6

Bayview Ave

King Rd

23

Tow n of W hitby

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b

21 22

Markham

D enison St

Price Range

Page

Finder

Garden Court

416-495-3595

•

from $400,000

Insert

16D

13 Liberty Development Corp.

Legacy Park

905-731-8302

•

from $300,000

35

10g

32 Liberty Development Corp.

Royal Gardens

905-889-9997

•

from $303,000

37

15F

43 Guizzetti Developments

Grand Palace

905-907-4370

•

109

12E

44 Liberty Development Corp.

Centro Square Condos 2

905-851-8877

•

36

5F 22D

from $400,000

2

Flato Development

Arthouse Condos

905-554-8722

from $200,000

3

Tribute Communities

Varley

905-604-1477

•

from $420,000

19F

4

Tridel Corporation

Renaissance of Richmond Hill

416-736-9500

•

from $740,000

14E

Grand Cornell Brownstones in Markham

905-294-6161

from $340,000

23F

6

5 Lindvest Armour Heights Developments

The Sorrento

289-637-1777

•

from $390,000

13B

7

MintoUrban Communities Inc.

•

from $300,000

12F

from $250,000

12E

WaterGarden

416-915-3800

10 Great Lands Corp.

The Beverly Hills Resort Residences

905-882-6636

11 Triaxis Development Inc/Marino Developments

Courtyards of Maple

416-798-7070

•

from $390,000

7D

12 Greenpark Homes

UV2

905-554-6501

•

from $253,000

22F

14 Remington Group

The Signature Condominium

905-948-9900

•

from $300,000

18F

14 Remington Group

Model Suite of the Month

905-948-9900

•

from $300,000

18F

20 Solmar Development Corp

Bellaria Residences

905-417-8482

•

from $240,000

7e

22 Quadra Mgt. & Sceptre Devs.

Renaissance Court at Woodbridge Gates

905-851-4220

•

from $505,000

2F

22 Wycliffe Homes

Fairground Lofts

905-605-5900

•

from $340,000

2F

24 Liberty Development Corp.

The Fountains

905-731-8302

•

from $272,000

10F

26 Rice Development

Ambria

905-796-3630

•

from $340,000

3F

28 Chestnut Hill Homes

San Francisco by the Bay

905-831-3631

•

from $200,000

22C

31 Pemberton Group

Sky City

905-709-5700

•

from $320,000

12F

31 Pemberton Group

Sky City 2

905-709-5700

•

from $320,000

12F

32 Signature Communities

TAO Boutique Condos

905-597-2535

•

from $200,000

15F

33 Pemberton Group

Miracle at Yonge

905-709-5700

•

from $280,000

12F

34 Sierra Homes

68 Main Street

905-305-0822

•

from $250,000

21E

40 Nova Trimax

Allegra

905-850-6866

•

from $250,000

1F

41 Quadcam Development Group Inc

Vista Parc Condominiums

905-850-8883

•

from $260,000

3F

45 Kylemore Communities

The 6th Angus Glen

905-887-9950

•

19E

46 Empire Communities

The Mark

905-554-5015

•

22E

*TH: Townhomes, C: Condo

Highlighted listings are advertised in this issue of Condo Guide.

Please refer to page number for complete information.

•

•

from $250,000

Attention Builders - Want to add your community to our maps?

Need to update existing information? Please fax the details to (416) 789-9554

HOMEBUYERS’ HELP

condo buyers’ resource section YOU LOVE THE CONDO, SEE WHAT YOU CAN AFFORD! Compare mortgage rates for your best deal Calculate your mortgage payments

JANUARY 17 - 31, 2015 NEW CONDO GUIDE 113

HOMEBUYERS’ HELP

Calculate your mortgage payments interest rate

amortization period

chart figure

mortgage amount ÷ 1,000

monthly payment

EXAMPLE: 5%

25 YEARS

5.82

125 (mortgage amount $125,000)

$

Follow these steps to see if you’ll qualify for a mortgage on your dream condo 01 Determine the

03 Choose your desired

04 At the intersection of

appropriate five-year fixed mortgage rate, which is easiest to qualify for.

amortization period across the top of the table (25 years has lowest payment and is easiest to qualify for firsttime homebuyers).

the column and row is your mortgage payment per month per $100,000 borrowed.

02 Look down the left column of the table on the opposite page to find the rate (rounded to the nearest 1/4 per cent).

114 NEW CONDO GUIDE JANUARY 17 - 31, 2015

Bear in mind that this is a rough estimate. If you have several other large loans already, you may qualify for less.

Also, banks and trust companies vary in their policies.

The best way to know what you can afford is to go to the lending institution of your choice and get pre-qualified.

Mortgage payment calculation chart

%

INTEREST RATES

Amortization Periods 15 YEARS

20 YEARS

25 YEARS

30 YEARS

2.75%

$678

$541

$461

$407

3.00%

$690

$554

$473

$421

3.25%

$702

$566

$486

$434

3.50%

$714

$579

$499

$448

3.75%

$726

$591

$513

$461

4.00%

$738

$604

$526

$476

4.25%

$750

$617

$540

$490

4.50%

$763

$630

$553

$504

4.75%

$775

$644

$567

$519

5.00%

$788

$657

$582

$534

5.25%

$801

$671

$596

$549

5.50%

$814

$684

$610

$564

5.75%

$827

$698

$625

$579

6.00%

$840

$712

$640

$595

6.25%

$853

$726

$655

$611

6.50%

$866

$741

$670

$626

6.75%

$880

$755

$685

$642

7.00%

$893

$769

$700

$659

Table provided by Calum Ross, owner, president and principal broker at Calum Ross Mortgage. He can be reached at 416.410.9905, calum@calumross.com and calumross.com JANUARY 17 - 31, 2015 NEW CONDO GUIDE 115

ONTARIO’S MOST-READ NEW HOMES GROUP WE ARE THE LARGEST MAGAZINE DISTRIBUTION SYSTEM IN ONTARIO. [ 4-WEEK ISSUE ]

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Jan 10 - 24, 2014 Volume 23 Issue 1 Jan 17 - 31, 2015 Volume 19 Issue 2

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5 THINGS TO WATCH IN REAL ESTATE IN 2015

Q&A WITH DESIGNER JONATHAN ADLER

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HOMEBUYERS’ HELP

Compare mortgage rates for your best deal CHARTERED BANKS

Variable

ATB Financial

2.7

Alterna Svgs/Alterna Bk

2.6

Bank of Montreal Bank of Nova Scotia

3 2.6

Canadian Western Bank CFF Bank CIBC

6 Months 4 6.30op 4 6.30op 4 6.30op 4.55 6.45op 4 6.45op

3 6.70op

ICICI Bank Canada Manulife Bank National Bank President’s Choice Finan Royal Bank

3.05 2.7 n/a

4.45 4.4 6.70op

2.65 3 6.30op

TD Canada Trust

3

Tangerine

3

1 Year 2.94 6.30op 2.98 6.30op 3.14 6.30op 3.29 6.50op 3.14 6.30op 3.69 2.99 6.35op 3.15 3 3.50op 3.14 6.70op 3.14 6.30op 2.99 6.30op 3.19

2 years

3 years

4 years

5 years

2.89 6.50op 2.98

2.99

3.04

3.24

2.98

2.94

3.19

3.04

3.85

4.39

3.29

3.14

3.44

3.94

3.19

3.04

3.65

4.2

4.99

3.75 2.79

2.59 3.65

3.79 3.14

3.04 4.99

3.65 3.04

3.64 3.04

3.69 3.09

3.89 3.09

3.04

3.75

3.09

3.29

2.94 3.14

3.59 3.95

2.99 3.14

4.44 3.24

2.94

3.44

3.14

3.29

3.24

3.49

3.69

3.79

3.25 2.59

3.95 3.44

4.74 3.94

4.99 4.79

3.6

3.7

4.6

4.95

2.89 3.14

2.79 3.75

2.94 4.64

2.95 4.99

3.14

3.44

3.94

3.19

3.1

3.33

3.65

3.13

3.25

3.29

2.99

2.99

2.59 3.14

2.69 3.29

2.89 3.09

3.09 3.19

2.79 3.14

2.99 3.75

3.14 4.64

3.29 4.99

2.75

3.45

2.95

3.15

3.95 2.65

4.35 3.65

4.84 3.29

5.14 3.19

3.05

3.15

3.25

3.4

2.85

2.95

3.05

3.1

TRUST COMPANIES Community Trust Concentra Financial

n/a n/a

Effort Trust

n/a

Home Trust Company Investors Group Trust

2.5 n/a

MTCC

2.6

6.5 5 6.70op 4.45 6.30op 3.95 4.2 6.50op 4.55 6.45op

3.14 2.89 6.30op 3.45 6.30op 2.89 3.14 6.30op 3.29 6.50op

OTHER FINANCIAL INSTITUTIONS Airline Financial C.U.

4

Comtech Credit Union

2.95

First National Fin. LP FirstOntario C.U.

2.75

6.2 6.40op 3.95 6.34op

IC Savings London Life

n/a

Luminus Financial

2.6

MCAP Meridian Credit Union

2.5 2.75

Parama Credit Union

2.85

Steinbach Credit Union

2.5

4.2 6.50op

4

3.01 6.25op 2.99 6.30op 2.99 3.09 6.34op 2.99 3.14 6.30op 2.95 6.30op 3.6 3.09 6.30op 2.85 3.00op 2.75

Notes **Interest rate charged subject to adjustment during term mortgage. Please consult institution for term of years available. All rates are prime rates and subject to change without notice.

R.O.R. = RATES ON REQUEST OP = OPEN ----- = NOT QUOTING N/A = NOT AVAILABLE Prepared by http://www.FiscalAgents.com/mortgage/rates

JANUARY 17 - 31, 2015 NEW CONDO GUIDE 117

Model Suite Compliments of Concord Adex

www.ConcordAdex.com

Premium integrated appliances, Carrara marble backsplashes, and quartz countertops are only some of the exceptional finishes featured in Forward at Concord CityPlace.

JANUARY2015 Concord Adex has been featured as “MODEL SUITE OF THE MONTH” as seen in the New Condo Guide model suite calendar

index of advertisers Amexon Development Corporation - The Residence of 488 University Avenue 75

Menkes Developments Inc. - Gibson Square

Insert

Aragon Properties - Enigma on the Park

89

Menkes Developments Inc. - Harbour plaza

Insert

Aspen Ridge Homes - Studio on Richmond

53

Menkes Developments Inc. - Pears on the Avenue

Insert

Bazis Inc. - E Condos

11

Menkes Developments Inc. - The Eglinton Yonge at Heart

Insert

Bazis Inc. - No1 Yorkville

5

BILD - Promo

104

Branthaven Homes - Oakvillage

107

Camrost - Felcorp - Blue Diamond at Imperial Plaza Castle Group - Insignia Residences at Bayview Village Concert Properties - The KIP District Concord Adex - Omega on the park

Metropia - E Condos

11

Minto Communities Inc. - Oakvillage

107

Minto Communities Inc. - West Side

51

84

Minto Communities Inc. - Yorkville Park

25

69

Mobile App - Promo

1

40-41

33 & 83

Monarch Corporation - Corporate

Insert

Monarch Corporation - Garden Court

Insert

Monarch Corporation - Lago

Insert

120

Monarch Corporation - Picasso on Richmond

Insert

Cresford Development Corp - 1000 Bay

120

Cresford Development Corp - Casa 2

120

Cresford Development Corp - Casa III

120

Cresford Development Corp - Merton Yonge Conduminiums Cresford Development Corp - Vox

120

Monarch Corporation - Riva del Lago

Insert

Daniels CM Corporation - The Bartholomew

15

Monarch Corporation - Waterscapes

Insert

Digital Device - Promo

79

Pemberton Group - Citylights on Broadway

9

Eden Shaw - Chaz Yorkville Condos

19

Pemberton Group - Vivid Condos

8

Empire Communities - Senses Condominiums

6-7

Emshih Developments Inc. - Oakvillage

107

Family of magazines - Promo

116

Pinnacle International - Palatial Collection

85

Pinnacle International - Pinnacle Grand Park

85

Fieldgate Homes - Zigg St.Clair West

67

Pinnacle International - Pinnacle Grand Park 2

85

Freed - Art Shoppe Condos

63

Pinnacle International - Pinnacle Uptown, Crystal

85

Ghods Builders Inc. - 5959 Yonge Street

28

Pinnacle International - The Marquee Townhomes on the Park

85

Great Gulf - Monde

29

Pinnacle International - The Pinnacle on Adelaide

85

Great Gulf - One Bloor Residences

29

Plaza - Corporate

65

Great Gulf - Pace

29

Great Gulf - Yonge+Richmond

29

Plaza Premium Lounge - Promo

95

Queenscorp Residences - Watermark

91

Guizzetti Developments - Grand Palace

109

Hyde Park - East Fiftyfive

57

Rio Can - E Condos

11

IDS - Promo

24

Rockport Group - The Nest

71

Lamb Development Corp. - East Fiftyfive

57

Shiupong Limited - Design Haus

61

Lamb Development Corp. - The Harlowe

59

Solotex - Upper Beach Townes

78

Sorbara Group - Beacon

55

Streetcar Development - The Southwood

47

The Daniels Corporation - Daniels Erin Mills

27

Lanterra Developments - Teahouse

3

Liberty Development Corp. - Centro Square Condos 2

36

Liberty Development Corp. - Legacy Park

35

Liberty Development Corp. - Royal Gardens

37

Liberty Development Corp. - Terrace on Danforth

37

The Daniels Corporation - High Park Condominiums

43

Liberty Development Corp. - World on Yonge

37

The Daniels Corporation - One Park Place South Tower

31

Lifetime Developments - The Bond Condominiums

23

Tridel Corporation - Aquavista at Bayside Toronto

IFC

Luxury Living Magazine - Promo

17

Tridel Corporation - Islington Terrace

BC

Madison Homes - Zigg St.Clair West

67

Triumph Developments - Howard Park 2

73

Urban Capital - RC3

45

Menkes Developments Inc. - 365 Church

Insert

Menkes Developments Inc. - 87 Peter

Insert

Menkes Developments Inc. - Corporate

Insert

Menkes Developments Inc. - Dwell City Towns

Insert

Vandyk Communities - The Craftsman

Menkes Developments Inc. - Fabrik

Insert

Your First Home & Condo - Promo

Urban Capital - The Ravine

Insert 105 66

Water’s edge luxury with unlimited views.

PRESENTATION CENTRE

261 QUEENS QUAY EAST TORONTO Adjacent to Sherbourne Commons CONTACT US

PHONE 416.514.2710 WEB TRIDEL.COM aquavista@tridel.com

Redefining life on the water’s edge.

AQUAVISTA Signature Collection.

Take your lifestyle to the next level. The AQUAVISTA Signature Collection offers luxurious lakeside living and breathtaking views without stepping foot outside of the city. These exclusive residences feature open concept gourmet kitchens, soaring ceiling heights and many with luxurious lakeside terraces.

Experience this next wave in waterfront living.

Priced from $1 million to over $3 million.* Presentation Centre 261 Queens Quay East Monday to Friday 11am – 7pm, Saturday, Sunday and Holidays 12 noon – 6pm 416.514.2710

*Price and specifications are subject to change without notice. Illustrations are artist’s concept only. Building and view not to scale. Tridel®, Tridel Built for Life®, Tridel Built Green. Built for Life.® are registered trademarks of Tridel and used under license. ©Tridel 2015. All rights reserved. E.&O.E. January 2015.

Facebook.com/Tridel

Twitter.com/Tridel

tridel.com

DESIGN. LOCATION. STYLE. PASSION. TRUST. The locations you love. The designs you desire. The details you demand.

A Cresford condominium is luxury living defined. For over 40 years Cresford has been at the forefront of the luxury condominium market.

The first developer in Canada to pair its condominium designs with international fashion labels, we set the standard for superb quality, trusted security and cutting-edge style. Cresford is known for building such recognizable condominiums as the Thornwood at Summer Hill and Merchandise Lofts, an iconic true loft conversion in downtown Toronto.

BAY & BLOOR | UNDER CONSTRUCTION MOVE IN WINTER 2015 / SPRING 2016 SUITES FROM THE HIGH $300’S 416.485.3000 1THOUSANDBAY.COM

YORKVILLE | UNDER CONSTRUCTION PENTHOUSES COMING SOON MOVE IN WINTER 2015 / SPRING 2016 SUITES FROM THE MID $300’S 416.486.CASA (2272) CASA2CONDOMINIUMS.COM

YONGE & WELLESLEY PENTHOUSES COMING SOON FURNISHED WITH DIESEL LIVING 416.485.3000 VOXCONDOMINIUMS.COM

YONGE & MERTON MOVE IN NOW SUITES FROM THE MID $400’S TOWNS FROM THE LOW $600’S PENTHOUSES FROM THE $800’S 416.484.1900 MYCCONDO.COM

ACTUAL PHOTOGRAPHY OF HERMÈS-FURNISHED MODEL SUITE. EVELYNE SUITE 493 SQ.FT.

NOW UNDER CONSTRUCTION

LUXURY PENTHOUSES COMING SOON TO YORKVILLE’S MOST FASHIONABLE ADDRESS! SUITES FROM THE HIGH $300’S CASACONDOMINIUM.COM 416.486.CASA (2272)

PRESENTATION GALLERY: 170 MERTON ST. BROKERS PROTECTED. ILLUSTRATIONS ARE ARTIST’S CONCEPT. PRICES AND SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE. E. & O.E.

GRAND OPENING

PRICES

SUITES FROM THE MID $200,000’s* Steps to the Subway PRESENTATION CENTRE

2487 BLOOR STREET WEST TORONTO At South Kingsway

Steps to Islington Subway Station.

CONTACT US

Find your connection at Islington Terrace. Close to the subway and moments from the QEW and Hwy 427. Surrounded by stately residential neighbourhoods, Islington Terrace is destined to become the defining statement on Etobicoke City Centre’s skyline.

Choose from 1 bedroom, 1 bedroom + den, 2 bedroom and 2 bedroom + den suites.

PHONE 416.645.8862 WEB TRIDEL.COM Islingtonterrace@tridel.com

A Tridel Built Green. Built for Life.® community.

Rendering has been visually enhanced to better represent the architecture of Islington Terrace. Buildings located at 50 Cordova Ave. and 24 Mabelle Ave. have been removed. The following Islington Terrace amenities spaces will not be complete or available for use at the time of Tower 1 occupancy: Swimming Pool, Basketball Court, Party Room, Dining Room, Games Room, Children’s Play Room, Theatre, Outdoor Lounge, Splash Pool, Sundeck and Children’s Outdoor Play Zone. These amenities will be provided upon completion of futures phases of the development. *Prices and specifications are subject to change without notice. Tridel ®, Tridel Built for Life ®, Tridel Built Green. Built for Life.® are registered trademarks of Tridel and used under license. ©Tridel 2015. All rights reserved. E.&O.E. January 2015.

10 NEW CONDO GUIDE JANUARY 17 - 31, 2015

Facebook.com/Tridel

Twitter.com/Tridel

tridel.com