Aura Update - September 24th 2012

Aura update from Wellesley



Aura Condo from Yonge and Wellesley

Here is a shot of Aura rising from the corner of Yonge and Wellesley on September 24th, 2012. The building has reached level 39 floors out of 78 floors. The Shops at Aura, are set to open on October 5th, and as I walked through College Park yesterday, I can confirm that the new entrance from College Park to Aura has been built, and looks rather nice. Also the Square between College Park and Aura is being cleared, so the construction equipment that is currently parked there will likely have to be moved to another site on the property.

Quick Shot Photo

 Notice that Aura is now totally blocking Scotiaplaza from view looking at this angle. That was always the classic view walking down Yonge Street, and seeing Scotiaplaza there. Now it has been erased like it never even existed. Just gives you an idea of how huge the Aura tower is and it's not even fully halfway up yet.

The next 8 floors and we will begin to see the curving setbacks to which the curtainwall glass will be applied. I think that will be the next major milstone for this project in terms of skyscraper geeks like myself. I will try to get another quick update tonight. Cheers all.

Aura Construction Update - January 2013

The Toronto Condo Boom

 Toronto Condo Living has taken off over the last few years, and the redevelopment in North York Centre, Downtown Toronto, Mississauga and other areas has been nothing short of mind-blowing. Downtown Toronto and North York Centre might not be recognizable just due to the speed of the construction and development. Although there are some that are opposed to increased condo density, we can't discount the benefits many with regards to increased higher use of transit, walking biking and other alternate methods of  transport as opposed to using the car. Toronto just might be a leader, outside of Manhattan (New York City) in this respect.  
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Getting a Mortgage and Mortgage Insurance through The Co-operators for financing a loan to purchase at FIVE Condos is actually a relatively easy process, and new rules from the federal government has required that company include new regulations, which have made the home loan and mortgage process a bit more difficult. Those changes at The Co-operators include shortening the amortization period for which the loan can be held by the consumer, and the degree to which the property is financed by the mortgage. They have also increased deposit requirements to lift the loan insurance amount. Mortgage insurance from The Co-operators is actually one of the major financing costs on home loans.