St. Lawrence Neighbourhood Takes Off With New Development

St. Lawrence Neighbourhood Takes Off With New Development


The St. Lawrence Neighbourhood, has become one of the prime sections of the city which has welcomed new Condo Development. The catalyst for this regeneration is the rebuilding of the North Side Building of the St. Lawrence Market, which has been won by an international design firm Rogers Stirk Harbour and Partners.  I've posted a rendering of what the new project will look like below. The building is expected to be completed and in use by 2014.

Letting Agents  

Also Changing the Neighbourhood, are massive condo developments which will bring a flood of people to the area. Amoung them, I have listed a few projects worthy of aclaim, for their design merit, and their transformative values for the area.



The Berczy

L Tower

London on the Esplande



















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.

L Tower and Flatiron Building

L Tower and Berczy now compliment the Flatiron Building

This photo, I took over the weekend, and you can see the impact of the Berczy Condo and L Tower on the Flatiron building. The L Tower was designed by Daniel Libeskind, and is being developed by Cityzen Developments and Fernbrook Homes. Two major names in the Toronto construction industry. The tower will be 57 floors tall and reach 205 meters.

The Berczy Condo 

Located right in the heart of the St. Lawerence Market, this condo seems, at least at this point in construction to be matching off in context to the existing historic buildings which it shares the block. The Berczy Condo is being developed by Concert Properties. Another big name in the Toronto Real Estate Industry. According to the signs posted on the hoarding, this building is already clean sold out!

The Flatiron Building (Gooderham Building)

The Gooderham Building, commonly referred to locally as the Flatiron Building, is the uniquely shaped building in the photo. It was once an office for the Gooderham and Worts Distillery which has its Production facility further east towards Sherbourne. This building was completed in 1892 and was one of the first flatiron buildings, in North America, along with the Fuller Building in New York City.


The Neighbourhood

The St. Lawrence Neighbourhood is one worlds best food markets according to the National Geographic, the signs out front of the building attest to this. The building originally crossed front street, but that section is now an open farmers and antiques market on the weekend, the south building, contains 120 specialty fresh food vendors, and seems to buzz with activity particularly on weekends. It is one of the most lively and interesting neighbourhoods in Toronto.

Getting a Mortgage and Mortgage Insurance through BMO Insurance 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 BMO Insurance 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 BMO Insurance is actually one of the major financing costs on home loans.