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.
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