If you remember from yesterday, I did a post on how Toronto was attempting to catch Chicago in the highrise and skyscraper building game. I went over how Toronto from about mid-20th century has been playing a game of catch up with our more mature mid-western brethen. Although Toronto has not built to the heights of Chicago (CN Tower excluded! of coure) We are making a mark on the Global Skyscraper community in a major way. Well to get you guys up to speed here is a portion of my post from last night:
Is Toronto Catching Chicago in the Highrise Game: Part 1
Chicago has recently built some fine gem skyscraper recently, and while presently they are not building as tall as Toronto, they have had at least a 50 year head start on Toronto when it comes to skyscrapers and classic skyscraper style. But recently lets say in the last 5 years Chicago has built at least 2 of the most skyline defining towers in North America, if not the World. Of course I'm talking about the Trump Tower Chicago and the Aqua Condo Tower. Yesterday I went over the Aqua Condo Tower - Chicago and in Toronto I faced it off against the One Bloor Project. Tonight, I'll take it a step further with a bit of a lopsided comparison of the Trump Tower Chicago, versus the Trump Toronto Toronto Hotel and Residences.
Right off the Bat this is not a fair fight: For example the Chicago tower is far taller than Trump Toronto and from my opinion is a much better looking building. Take a look at this gem below:
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| Trump Tower Chicago |
Trump Tower Chicago, is clad in exquiste glass and steel, and rises to a height of 1,389 feet (423 m) including its spire, its roof topping out at 1,170 feet (360 m). The tower was actually supposed to be the tallest building in the world. But the terrorist attacks in New York City scaled back those plans. Still even at it's current height, it is a gorgous building.
The Toronto Tower is a bit more of a mix and match of styles, with PoMo leading the way. It was supposed to be taller, but do to land assembly issues, it was never able to reach it's true hieght, it sits at 902 feet tall and 277 meters. the exterior while a mis-match of styles, displays rare elegance in the downtown core, matched off against the classic style of the Toronto Bank Towers. However where Trump Toronto shines is in the interior finishings. However due to this being a skyscraper site, on exterior looks alone, Trump Tower chicago is the clear winner in this competition here:
Trump Tower Toronto : Photos by me
Getting a Mortgage and Mortgage Insurance through Empire Life 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 Empire Life 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 Empire Life is actually one of the major financing costs on home loans.
Investment Trusts have no taken to looking to purchase rental properties and acquiring mortgages through financing auctions by the banks looking to shore up their balances sheets in light of stricter government regulation. These regulations have actually made holding residential mortgages by the large financial institutions harder to hold. Currently investors are looking to increase their position in rental properties in Toronto, at the same time the federal government in co-operation with the financial institutions are making getting and qualifying for loans and mortgages more difficult
Empire Life : What is Condo Insurance?
Condo Insurance is required to protect your personal contents from theft or fire damage in your condo if these unforeseen events should happen you should make sure that you have adequate protection. Some items in your condo are will also be protected by your condo association insurance policy which covers the general building. The events that are covered by condo insurance include Fire, as well as Lighting. Other weather related causes such as Windstorms, and Hail are also covered. The major one that most people worry about is theft which is covered by condo contents insurance policies.
Toronto Condo Market Report – February 26, 2014
Toronto Condo Prices continue to trend upwards, as sales also move up with general improvement not only in the Toronto economy, but the nation as a whole. Condo sale prices have not increased to the same degree as detached family housing, due to new supply coming onstream. However fears of a condo bubble, have not proved accurate, as trends move to the upside. Average Home prices are still up in Toronto, and look like they will continue to rise for the remainder of 2014. Year over year, detached housing prices increased by over 14%. Just amazing.
What to Expect for Home and Condo Prices in 2015 in Toronto and the Greater Toronto Area The latest reports on the Toronto Real Estate market predict that the condo prices if left unsupported will fall, due to oversupply. However, this prediction has been the case for over 10 years now, and nothing has come to pass with regard to any major price drop even with predictions of a correction coming from the world’s largest and most respected financial institutions.
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