Tuesday, 4 March 2014

New Office Tower Proposed at 156 Front Street.

Tower will be developed by Cadillac Fairview, one of which will be office   will be over 265 meters tall. The office tower at a height of 265 meters would be the tallest office tower constructed in Toronto since Brookfield Place (aka BCE Place) on Front between Yonge and Bay Streets.

This application proposes to develop the site at 156 – 174 Front St West and 43-51
Simcoe Street  54-storey office tower having a total
gross floor area of approximately 151,137 square metres. 

The applicant has submitted a Zoning By-law Amendment application which proposes to redevelop the lands at 156 – 174 Front St West and 43-51 Simcoe Street with a 65-story residential tower oriented to Front Street West, and a 54-storey office tower oriented toward Sincoe Street. The tower is proposed to have overall height of 265 metres.

The proposed development would have an overall gross floor area of approximately
151,137 square metres, of which, 105,250 square meters would be allocated to the
commercial/retail component of the development, with the remaining 45,884 square
metres of gross floor area for the proposed residential development. An overall density
of 24.12 times the lot area is proposed. The applicant proposes to develop the site in
phases, with Phase I being the 65-storey residential tower which is oriented to Front Street West.

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