Ten projects that show Toronto condo development is still going strong

One Bloor West - photo credit Mizrahi

When plans for an 80-storey Toronto condo development at the southwest corner of Bloor and Yonge were unveiled earlier this year, Torontonians reacted with a predictable range of emotions, including deep worry and angst. Online commenters fretted not only about the physical appearance of the proposal – dramatically named ‘The One’ – but also the congestion it might bring to the neighbourhood, the shadow it would cast, the effect it might have on the bird population, and, of course, the shadowy, ubiquitous threat of “Manhattanization.”

While some reservations are understandable when confronted with a proposal of this stature, Globe and Mail columnist Marcus Gee wrote on March 18 that “Toronto has finally found the confidence to act like a big city,” perhaps suggesting that The One ought to be celebrated, if only for its ambition.

In that spirit, let’s have a look at nine more confident projects:

One Bloor East - Great Gulf Homes

One Bloor East

Directly across Yonge Street from the possible future location of The One sits One Bloor East, a 257-metre, 76-storey mixed use space which is nearing completion. Urban Toronto recently shared some images from the unfinished penthouse suites of the building, and the views are spectacular.

Mirvish+Gehry

 

Mirvish+Gehry

Before ‘The One,’ the Mirvish+Gehry was arguably the most controversial proposal in Toronto. The massive, two-building Toronto condo development (the taller of the two towers will reach over 300 metres) is likely to be located in the heart of downtown, at 260 King St West. The preservation of the Princess of Wales theatre is an important aspect of the proposal, as earlier plans included its demolition.

1 7 yonge photo via urban toronto

1-7 Yonge Street

At the foot of Yonge St, in a space currently dominated by the Toronto Star building and several parking lots, Pinnacle International is hoping to erect an impressive selection of six new buildings. The proposal would redefine two underused city blocks, and the tallest new building would be the third on this list to reach 300 metres.

10 york tridelTen York Street

Ten York is particularly interesting for its shape: the 67-storey, wedge-shaped building is located immediately south of the notorious Gardiner Expressway, and directly north of the Yonge-Bay-York off-ramp. While living between two separate portions of the Gardiner may not appeal to all, the building is indicative of the densification Toronto’s southern downtown core is experiencing.

themasseytower dot comMassey Tower

Expected to be completed next year, the 207-metre Massey Tower incorporates two historic bank buildings in its design. The Bank of Commerce on Yonge St just north of Queen will be restored and will serve as the new condo’s lobby.

385 yonge

385 Yonge St

The development proposed for 385 Yonge St may be the most shocking design proposal on this list. It includes two towers at 62 and 73 storeys, respectively, which will be joined by a large platform roughly two-thirds of the way up the shorter of the two. Situated just north of Yonge and Dundas Square, this Toronto condo development could be a true architectural landmark.

soleilEau du Soleil

Eau du Soleil is the furthest Toronto condo development from downtown on this list, located on Lake Shore Blvd West, on the Humber Bay Shores. The striking, two-tower design of the building will stand out among smaller, more conservative developments in the area.

88 Scott Concert properties

88 Scott Street

Currently under construction, 88 Scott St will top out at approximately 200 metres, and will feature a range of amenities to go along with an outstanding central location. The podium levels will include retail, restaurants, and commercial office spaces below 525 residential units.

33 Gerrard - Great Eagle Holdings33 Gerrard West

The 33 Gerrard West Redevelopment is the newest proposal on this list. Currently occupied by the Eaton Chelsea Hotel, the location could soon feature four new towers at heights of 80, 74, 50, and 46 storeys. For the moment, details on the proposal are scant, but early renderings suggest an international style-influenced design which would stand out beside glassy neighbours Aura and 385 Yonge.

Each imaginative Toronto condo development on this list will contribute to the growth and maturation of Ontario’s capital. Visit Renting Toronto today for listings of available condos for rent in Toronto. We’ve been in the business of connecting qualified tenants and reliable landlords since 1999.

Toronto condo rentals offer a variety of fitness and wellness options

Photo credit: localfitness.com.au

Photo credit: localfitness.com.au

Living in the big city is fun and exciting. Strolling through the downtown core of a bustling metropolis can make you feel like you’re part of something bigger than yourself, and convenient access to world-class restaurants, bars, and galleries makes urban life culturally rich and roundly inspiring. But is living downtown healthier than the alternative? Years ago, when cities were dirtier and more dangerous, this may not have been true. But today, many Toronto condo rentals are located steps from grocery stores, bike paths, and public transit. Living within walking distance of your favourite downtown haunts contributes to an overall healthier lifestyle than is available in most rural or suburban communities.

While urban-dwellers can be at higher risk of stress and often breath less clean air than their rural and suburban counterparts, they’re also less likely to become obese, less likely to be injured in an accident, less likely to commit suicide, and enjoy better health and happiness into old age. A 2009 San Diego State University found that “those who live in an urban neighbourhood are twice as likely to be physically active than those in the suburbs.” Downtown folks take their health seriously, which impacts their decision making as they browse Toronto condo rentals for a place to live.

As many young, health-conscious professionals opt for condo rentals as affordable and convenient alternatives to suburban home ownership, condo developers are beginning to put more of an emphasis on providing state-of-the-art fitness facilities.

Here are a few quick examples (via Now Toronto):

 1 Yorkville:

This 58-storey development, scheduled for completion in 2018, will contain two floors of health and fitness amenities, including a 14,000-square-foot spa area, with a steam room, juice bar, and hot tub; and a 5,000-square-foot fitness area complete with fully equipped gym, yoga and dance studio, and a cross-fit studio.

“People are a little tired of just walking on a treadmill or sitting on a bike,” 1 Yorkville interior designer Allen Chan told Now Toronto. “We want to give them options. cheap hotels http://rentingtoronto.com/toronto-condo-rentals-offer-a-variety-of-fitness-and-wellness-options/ http://rentingtoronto.com/toronto-condo-rentals-offer-a-variety-of-fitness-and-wellness-options/ http://rentingtoronto.com/toronto-condo-rentals-offer-a-variety-of-fitness-and-wellness-options/ http://rentingtoronto.com/toronto-condo-rentals-offer-a-variety-of-fitness-and-wellness-options/The developers wanted to create something that isn’t offered anywhere else. They were willing to dedicate this huge space to it, which is something you don’t see every day.”

Minto 30 Roe:

The fitness amenities of this Yonge and Eglinton-area development are specifically targeted to 20- and 30- somethings. The building’s 6,000-square-foot “Movement Haus” will feature a kinesis wall, spin studio, Pilates machines, and a cool-off room.

Aura:

fitness centre - pub domainCanada’s tallest residential development kept their fitness-minded tenants in mind when partnering with Madonna’s Hard Candy Fitness to incorporate a massive, 42,000-square foot wellness facility. Under the agreement, Hard Candy received a substantial rent cut in exchange for offering free access to all Aura residents.

While most Toronto condo rentals won’t be able to offer the expansive fitness amenities of these high-end locations, there’s no reason why condo-hunters shouldn’t include a solid, functional gym on their list of wants. A good fitness facility will include ample, modern equipment in a spacious setting; a friendly, well-lit space that addresses sound concerns of nearby tenants; and in some cases a team of health and fitness professionals.

Whether you’re a fitness buff who trains six times a week, or a casual athlete who enjoys the occasional spin a stationary bike, you should consider the quality of fitness amenities when scanning listings of Toronto condo rentals.

Visit Renting Toronto today for listings of available condos for rent in Toronto. We’ve been in the business of connecting qualified tenants and reliable landlords since 1999.

Ontario’s A Place to Grow Act turns ten: what does the policy mean for the Toronto condo rentals market?

Photo credit: SimonP/Wikimedia Commons

Photo credit: SimonP/Wikimedia Commons

The term “urban sprawl” defines the grey, wandering expanse of commercial properties, strip malls, and suburbia that stretches endlessly from the heart of significant urban centres. The words have long been associated with environmental degradation, aesthetic and cultural emptiness, and urban planners’ bad dreams. In the Greater Toronto Area and surrounding Golden Horseshoe – Canada’s most populous region – creeping sprawl has consumed thousands of acres of prime farmland, raising widespread concern. As David Suzuki put it in a 2013 Toronto Star editorial: “continued sprawl threatens the health and well-being of our communities and the ecosystems that sustain us.”

In 2005, the Government of Ontario instituted the Places to Grow Act, a massive, multi-year program that “supports economic prosperity, protects the environment and helps communities achieve a high quality of life across the province,” according to official provincial literature. By creating a 7,300 square kilometre green belt around the Golden Horseshoe and implementing strict limitations to development outside existing municipal boundaries, the Ontario government sought to curtail unrestricted suburban expansion. In the past decade, Places to Grow has redefined the GTA housing market, and contributed to a steep rise in condo ownership and Toronto condo rentals.

In terms of pricing, the Canadian real estate market is divided into two categories: Toronto and Vancouver; and the rest. The price of a single family home in Vancouver is more than double the national average, and Toronto doesn’t lag far behind. In both cases, a primary pricing factor is land availability. Out west, the Pacific Ocean and Rocky Mountains restrict Vancouver’s ability to grow outwards, while Toronto is bounded to the south by Lake Ontario and to the north by the Places to Grow-instituted greenbelt.

“It’s essentially a grow up not out approach to the region’s future,” said RealNet Canada president George Carras in an article from the Business News Network. “If housing requirements over the next 20 years call for another 2.4 million people to move here, the kind of housing you’ll have is driven by the kind of housing you can create. You can expect more high-density, less low-density, and the price behaviour is going to vary between those two because of supply and demand.”

At the end of 2014, just 7,200 single detached homes were under construction in the GTA, compared to 57,000 condo units. As a result, the February 2015 price gap between new houses and new condos reached $300,000. This is good news if you’re looking into Toronto condo rentals, but significantly less positive if you’re planning to purchase a house. Climbing prices have made traditional bedroom communities like Markham and Vaughan largely unaffordable to first time home-buyers, who are looking as far afield as Kitchener and Barrie in pursuit of a front yard.

The detached housing market is expected to be put under further pressure as millennials continue to age into prime candidates for suburban migration. http://rentingtoronto.com/ontarios-a-place-to-grow-act-turns-ten-what-does-the-policy-mean-for-the-toronto-condo-rentals-market/ http://rentingtoronto.com/ontarios-a-place-to-grow-act-turns-ten-what-does-the-policy-mean-for-the-toronto-condo-rentals-market/ http://rentingtoronto.com/ontarios-a-place-to-grow-act-turns-ten-what-does-the-policy-mean-for-the-toronto-condo-rentals-market/ http://rentingtoronto.com/ontarios-a-place-to-grow-act-turns-ten-what-does-the-policy-mean-for-the-toronto-condo-rentals-market/In the next ten years, the widespread availability of Toronto condo rentals (25,571 units were completed in the GTA in 2014) will push the housing price gap to an expected $750,000 to $800,000.

“Condos will continue to play an important role in the GTA property market for three reasons,” explained Carras in a Toronto Star op-ed. “They represent the primary source of affordable home ownership options; they’re still a key source of rental-unit supply; and they represent a proven property-investment opportunity.”

Photo credit: Rick Harris/Flickr

Photo credit: Rick Harris/Flickr

A Place to Grow might not bode well for developers or prospective buyers of detached family homes, but the environmental realities of unchecked urban expansion makes the legislation nothing less than a necessity. Although the act is up for review in 2016, its forward looking statement peers ahead to 2041, calling for “compact development that makes the best use of our limited land supply and offers a diversity of choices for living, working and enjoying culture.” As such, the Golden Horseshoe’s residential housing market is likely to become increasingly competitive and expensive for the foreseeable future, while Toronto condo rentals will continue to offer a convenient, affordable alternative to home ownership.

If you’re interested in Toronto condo rentals, or are seeking to rent out your condo unit, contact Renting Toronto today. Our company has been in the business of connecting great tenants with competent, qualified landlords since 1999.

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