The Gooderham Condominiums at the Distillery

The Gooderham Condominiums at the Distillery

Condo Profiles: 

The Gooderham and Worts Distillery District is a located on the eastern edge of the downtown Toronto Core. It contains a revitalized collection of Victorian industrial architecture that had produced some of the finest whiskey and spirits in the country. In fact for a time it was the largest distillery in the world. 

The Condo Towers

Clear Spirit Condos and Pure Spirit Condos  

Pure Spirit Condos and Lofts is located on the south side of Mill St and is a 32 story tower of glass and steel with a podium of lofts. The range of sizes is from a smallish 500 sq ft up to larger suites  1500 sq ft. It’s within easy distance to the lake, Yonge St and Union Station. Condo residents can enjoy features such as , saunas, yoga/pilates room and media room. Other amenities are 3 guest suites, outdoor pool & hot tub, lounge & partyroom, meeting room, billiards room, gym

There will be a 24/7 concierge. Suites have individually controlled heating and cooling, 10 foot ceilings on floors 2 to 6, 9 foot ceilings above 6th floor, and sliding bedroom doors. Kitchens will have granite countertops, halogen track lighting and a ceramic backsplash. Bathrooms will have granite vanity top and pot lights. Floors will be wood veneer with 40 oz carpet in bedrooms.

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.