Museum House - 206 Bloor Street West

Museum House Condos - Yorkville

Picture from yesterday of Museum House at 206 Bloor Street West. This high end condo is located on the western edge of Yorkville in front of the Royal Ontario Museum. (ROM) The building is 19 floors and was completed earlier this year. What makes this building unique is that it only has 27 units on its 19 floors, in fact most of the units in this building are full floor suites. The remainder are half floor suites. Needless to say due to their location and the height of the building most have sweeping unobstructed north and south views. I remember seeing some marketing for this building last year and I believe all of the units were in excess of 4 million dollars to start.

The building was designed by Page and Steele.

The Toronto Condo Boom

The boom in the Toronto Condo industry which began slowly in the late 1990's and picked up steam in the early aughts (00's) has transformed the look and feel of the City. Highrises are sprouting from all areas of the city, mainly the downtown core, but other areas, such as Liberty Village, Etobicoke Shores, Scarborough, Mississauga City Centre and North York Centre are also experiencing rapid condo growth and densification. Part of it is the design of the provincial government, which wants to attain maximum efficiency of use out of publicly funded transit such as GO Transit, the TTC and regional lines. Plus heavy investment in infastructure such as the Airport Line, The Eglinton Crosstown LRT Line, as well as the Union Station Renovation project all of which will make getting into and out of the core far easier then ever before. At the same time providing a real lifestyle choice to those that decide they enjoy downtown living.

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.