The retail plaza under the skyscraper at College Park, known as Aura, will open up on October 5th, 2012. The retail space will be called "The Shops at Aura"
There will be 100 units which will be owned by the store owners, similar in style to condos. Each unit has it's own owner, except the owner is the retailer itself. The stores will include Bed, Bath and Beyond as well as a Marshalls. Restaurants include Alice Fazoolis as well there will be banking with a brank of the Bank of Montreal. . There will also be a food court area for shoppers within the space, which I assume will complement the space which already exists in the College Park Mall across the lane. "The Shops at Aura" will connect underground the the College Park Mall, and eventually to the PATH system which travels underneath downtown Toronto.
The Aura Tower on top, will continue construction for another year and a bit while the mall is open, the sidewalk below is protected by large overhanging canopy. The tower will reach 78 floors and 273 meters high, it will be the tallest condo ever built in Canada and at it's location will dominate the environs. It is currently up about 40 floors.
The Toronto Condo Boom
Toronto Condo Living has taken off over the last few years, and the redevelopment in North York Centre, Downtown Toronto, Mississauga and other areas has been nothing short of mind-blowing. Downtown Toronto and North York Centre might not be recognizable just due to the speed of the construction and development. Although there are some that are opposed to increased condo density, we can't discount the benefits many with regards to increased higher use of transit, walking biking and other alternate methods of transport as opposed to using the car. Toronto just might be a leader, outside of Manhattan (New York City) in this respect.
<!--[if !supportLineBreakNewLine]-->
<!--[endif]-->
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.
No comments:
Post a Comment