RCMI - Condo - Nighttime Photo when out over the past weekend.
The residences at RCMI is testament to the new urban living which has taken over downtown Toronto. It is one of the first condo's ever built in the City with zero parking spots available for residents. There will be accommodation for 6 shared cares. The building carries over these Eco-Friendly design elements with smart technology and other environmental design markers to put it on the frontier of green living The building itself is located and squeezed between two existing office towers. The building itself will be designed to LEED standards, the interior spaces will match luxury and utility into one.
The building is located at the corner of University and Dundas on the southwest corner, and nearby the St. Patrick Subway.
RCMI - Condo Construction Updates:
Factoring The Toronto Economic Forecast 2013
What does the future hold for Toronto's Economy in the 2013 year? I'm doing a forecast based on a number of economic variables, to determine performance of our diversified economy and any external and internal impacts that might influence growth in the Golden Horseshoe Region (GTA). The factors that seem to have the most impact on Toronto is the Global Financial Markets, and Global Currency Markets, outside of that internal factors that determine the growth of the region are heavily tied to our skyscraper and construction industries now amounting to some 7% of Canadian GDP. And construction itself is tied to macro-economic factors such as National and Global Interest rates, or cost of money. So, one by one, we will factor each of these impacts on the Toronto Economy.
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.