King Blue Condo Launches to Much Fanfare in the Entertainment District

King Blue Condo Launches to Much Fanfare!

If you've been wondering what's been happening around the base of the old Westinhouse Factory for the past few months, wonder no more! What has been going on is the King Blue Condo complex, which launched in the Entertainment District of Toronto last month. It will be suituated right by the corner of King and Blue Jays Way.. hence the name "KING BLUE" It is also bringing with it some cultural character as it the condo base will also be home for the Theatre Museum of Canada. Truely all emcompassing condo living at your fingertips with this project. Launched the Easton Group and  its tight knit family members this project is out to fight for its share of the ever shrinking Toronto Condo Market. Yes, if you haven't heard sales dropped an additional 35% last month on top of the 30% decline from the month earlier. This project will be going toe to toe with Menkes and Tridel Super projects that are also launching (even beginniing construction right now) as the market seems to look to let some steam loose.

Here are the project statistics :


Located : 355 King Street West
Building Style : Glass (brick podiums)
Total floors: 44, 48
Unit Count: 807
Type of units: Studio, one-bedroom, one-plus-den, two-bedroom, two-plus-den, three-bedroom, three-plus-media
Square Footage available: 390 - 1335
Prices: ~ $247,900 - $980,000+
Parking Cost : $55,000 (for two-bedroom suites or larger)
Maintenance fee: $89.85/month (parking)
Maintenance: $0.52/sf
Architect: Page + Steele / IBI
Interior design: Munge Leung




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.