Wednesday, 28 November 2012
Radioactive Contamination Halts Dundas Square Excavation
Demolition Halted at 21 Dundas Square Due to Radioactive Materials
Well, I reported two days ago, that the demolition work had commenced at Dundas Square on a new condo proposal yet to go into sales by HNR Developments. Now comes word that the demoltion has been halted due to radioactive materials found on site, from a radium dial printing facility that use to be on premises in the 1940's. Radium use to be used in the manufacture of glow in the dark watches. So if you ever had a glow in the dark watch, check your wrist to make sure it's not glowing also. (lol!)
Anyways read more on the story here:
Toronto Star Article
My Previous Blog posting from two days ago:
Hoarding Up at 21 Dundas Square
I happened to be out shopping with my buddy yesterday at the Eaton Centre, and as we were walking back to the parking lot on Church Street, I noticed that the hoarding had gone up for 21 Dundas Square. This is one of the more controversial projects in the City Right now, as part of the project involves the demolition of some historic structures. I assume the hoarding I saw, was for the demolition of the existing structures on the lot before sales are initiated for the Condo Development to Follow.
Unfortunatly I didn't catch a photo of the hoarding or demolition as I was walking by, because I was with my friend, and didn't have time to stop to take the photo. But trust, be the hoarding is there and it looks like demolition has begun.
Here is a picture of the proposed Condo Development.
Application: Partial Permit Status: Not Started
Location: 252 VICTORIA ST
TORONTO ON M5B 1V8
Ward 27: Toronto Centre-Rosedale
Application#: 12 111476 FND 00 PP Accepted Date: Nov 12, 2012
Project: Mixed Use/Res w Non Res Partial Permit - Foundation
Description: Part Permit - Proposal to construct a 40 sty condo with commercial on ground floor, 4 levels of below grade parking, and 336 dwelling units. 252 & 258 Victoria St and 21 Dundas Sq. 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. Toronto is on the verge of becoming a high end retailing mecca, and this will force up home prices as well as condo prices in the central core. Word that big US retailers like Saks, Nordstorms and Target are moving into the Canadian Space, and primarily within the downtown Toronto core is likely to increase the desirability of those areas with the best access to high end shopping experiences. New Trends in Condo Buying Emerging in the Toronto Area A few new trends to watch out for in the Toronto area when it comes to buying homes as well as buying condos. When it comes to buying homes, the latest tactic is to put a property which had previously been listed on the MLS system, on a bidding site, or list through an auction house to get buyers, sending the price of single detached homes soaring. As for condos the latest buying technique is the new trend with regards to micro housing, or micro condo living. And we’re seeing now, specifically designed condos to meet that purpose.