ICE Condo - Toronto Condo Construction News

ICE Condo - Construction Update


Latest Construction update from ICE Tower 1, which you can also see the Infinity Towers to the right, one complete and the last phase under construction. When complete the L Tower complex will reach 67 floors for the taller tower, and 57 floors for the shorter tower.

Toronto Condo News:

Masonic Temple- To be sold by CTV. They will move the MTV Studios to the 299 Queen Street West Studios. They (CTV) are open to selling the property to developers for Condo Towers. 

Read the Article Here:

TORONTO - After 95 years, the iconic Masonic Temple – the concert hall where Bing Crosby, the Ramones and Led Zeppelin once rocked out – may be set to close and be turned into condos.

CTV and Bell Media confirmed Friday they “are considering all options,” including selling the historic building to developers, after they move their MTV studios out of six-storey structure at the northwest corner of Davenport Rd. and Yonge St.

“We are moving the MTV studios to 299 Queen St. and as a result, there will be no further production done at the Masonic Temple as of now,” said Scott Henderson, Bell Media’s vice-president of communications.
“Staff were notified of it in September. The future of the temple has yet to be decided. They’re considering all opportunities, including potentially selling it. The real-estate team is trying to determine what the future will be.”
Henderson said there’s no deadline for a decision as of yet.
According to City of Toronto, the Masonic Temple was added to the list of its heritage sites in March 1974, which protects some historical aspects of the building, including the facade.

Toronto Model Railroad Club Closing Down - More Condos on the Way?

Read the Article Here


But after 66 years in the Liberty Market building — a former armaments factory — the club announced this week it’s being forced out by condo development. The move will require members to dismantle “hundreds of thousands of hours” of work on the intricate model constructed over the organization’s 75-year history.
“So much of it will be lost,” said MacLean. “It’s like doing a sculpture. How do you tear it apart and then rebuild it?”

Lifetime Development, owner of the building at 171 East Liberty St., is in the process of getting approval for a condo development, one of several new buildings in an area that’s already played host to substantial redevelopment in recent years.

Like so many growing areas in the city, the push for new often kicks out the old — in many cases, distinct places that create diversity and character.

“Another great Toronto treasure lost to development,” wrote user Bill Harford on the Model Railroad Club of Toronto’s Facebook page. “I will be sad to see it go.”






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

Investment Trusts have no taken to looking to purchase rental properties and acquiring mortgages through financing auctions by the banks looking to shore up their balances sheets in light of stricter government regulation. These regulations have actually made holding residential mortgages by the large financial institutions harder to hold. Currently investors are looking to increase their position in rental properties in Toronto, at the same time the federal government in co-operation with the financial institutions are making getting and qualifying for loans and mortgages more difficult

Empire Life : What is Condo Insurance?
Condo Insurance is required to protect your personal contents from theft or fire damage in your condo if these unforeseen events should happen you should make sure that you have adequate protection. Some items in your condo are will also be protected by your condo association insurance policy which covers the general building. The events that are covered by condo insurance include Fire, as well as Lighting. Other weather related causes such as Windstorms, and Hail are also covered. The major one that most people worry about is theft which is covered by condo contents insurance policies.

Toronto Condo Market Report – February 26, 2014

Toronto Condo Prices continue to trend upwards, as sales also move up with general improvement not only in the Toronto economy, but the nation as a whole. Condo sale prices have not increased to the same degree as detached family housing, due to new supply coming onstream. However fears of a condo bubble, have not proved accurate, as trends move to the upside. Average Home prices are still up in Toronto, and look like they will continue to rise for the remainder of 2014. Year over year, detached housing prices increased by over 14%. Just amazing.

What to Expect for Home and Condo Prices in 2015 in Toronto and the Greater Toronto Area

The latest reports on the Toronto Real Estate market predict that the condo prices if left unsupported will fall, due to oversupply. However, this prediction has been the case for over 10 years now, and nothing has come to pass with regard to any major price drop even with predictions of a correction coming from the world’s largest and most respected financial institutions.