Yonge & Dundas - Aura Towers at 40

Yonge and Dundas - Aura Towers at 40

Really, didn't want to take anymore pictures of Aura from Yonge and Dundas. But I can't help it. Yonge Street is so animated, so lively and there in the background is the beast of a tower. Really its only halfway up if you include the mechanical levels. This blog will catalogue its every move skyward. You will not miss a beat. Even at Winter time I'll be on the case that much I can promise. 

Also I checked out the underground connection at College Park today and as I suspected, its still closed and buttoned up tight. We will have to wait until October 15th before we find out the goings on at the Shops of Aura. Till then we'll always have the construction updates. 

The Aura Condo Project:

 Submitted to the City in 2006, as two towers the taller of which was 60 floors and over 200 meters, it was initially rejected by the city, for failing to respect the street and offer adequate ground level retail. It would have been a standard Bay Street condo, on the most important, or second most important  (depending on your view of what makes a retail street) in the city of Toronto. The new project has close to 200,000 square feet of retail and commercial space, in building which is over 1.1 million square feet. Thus providing the downtown core with an alternate shopping experience in conjunction with the College Park Mall to which this project is adjacent.

Getting a Mortgage and Mortgage Insurance through National Bank Insurance 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 National Bank Insurance 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 National Bank Insurance 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

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.