Wednesday, 19 February 2014

Yorkville Development at 50 Bloor West will be the Second Tallest Tower in Toronto

Holt Renfrew Planning Tallest Tower in Yorkville

Holt's Renfrew is planning what will be the largest mass development ever proposed for the Bloor Yorkville Strip. The Building at 50 Bloor Street West, will rise over 83 floors and 900 feet, to become the second tallest tower in Canada. Also planned are massive renovations to the existing Holt Renfrew Store in planned competion of the new Saks Fifth Avenue which will be built downtown in the commercial core at Bay and Queen. 

it will be at the site of the Holt Renfrew Department Store onBloor Street. It will likely  tie into planned retail expansion of the store. Bloor Street, is among the most expensive retail shopping streets on Earth, right there and up along with Rodeo Drive, in Los Angeles, Ginza in Toyko, and 5th, Ave in Manhattan.  

The Condo tower is planned to be 83 mindblowing floors, and over 277 meters. Because the land here is so expensive and the cost of constructing a tower this tall prohibitive look for the prices of these units to be aimed for the ultra rich, 1%.  

Downtown Toronto is being gentrified by the richest people in Canada and there is no joke about that. This is not the only Tower planned in the area, Menkes, is also planning a tower, of 69 floors abutting the north end of this tower reaching some 239 meters tall,, with a shorter twin tower of 183 meters. Also planned is the Cumberland Terrace Mall Redevelopment which will include a 200 meter condo tower as well.  
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. Another new trend to look out for is the lack of supply in the purpose built rental housing market in Toronto. Even as new condos come online there remains a shortage of apartments built specific to that purpose, so condo rentals have increased even as vacancy climbs, rentals rates do as well.

 Busy Condo Market Boosts Toronto Home Sales 

With fewer homes in the detached category available in Toronto, new home buyers seem to be opting for new condos, with sales heading forward at a rocket pace last month. Sales of Existing Homes in the Toronto area moved up by a whopping 2.1% in February 2014, and that is compared to the same time period last year. That was mainly due to a 12.5% increase in the sales of condos within the city so stated by the Toronto Real Estate Board. That will contrasts with the sales declines that occurred in townhomes, detached and semi-detached housing during the month, which was mainly due to a constrained supply of those housing types.

No comments:

Post a Comment