New Proposal For 2364 Yonge Street - Diamond+Schmitt

New Proposal For 2364 Yonge Street - Diamond+Schmitt


From the City of Toronto Website:

The application proposes to amend the Zoning By-law to allow for a 28-storey mixed use building on the site. The proposed building would contain 234 dwelling units and 2,260 m2 of commercial gross floor area, with five levels of below grade parking. The proposed building would have a total gross floor area of 17,544 m² with a density of 12.2 times the area of the lot. 145 parking spaces in five levels of below grade parking are proposed. Additional site statistics can be found on the application data sheet.


New proposal regarding a Condo tower just north of Yonge and Eglinton. In the heart of the Yonge and Eligble area, that is famous for its bounty of young professionals, and it has also been experiencing rapid growth of late. No small part due to the fact that the Eglinton Crosstown LRT is currently under-construction and will run under the street just south of hear, in additon to the existing Yonge line which runs under ths street, and is the main connector for this 'hood, to the downtown core.

Global Financial Markets (Factor: Negative)

The global financial markets seems to be on the rebound, from late last year and continuing into the new year, the stock markets of the key global players has been improving in performance. So why is this a negative for Toronto and our economy in general? Well, if you remember the Financial Crisis, after the initial shock of the collapse Toronto actually did quite well, the cause of this was that International Money was looking for a safe place to go and hide, and as far as investors there is no better place to stash your money than Toronto, as it's safe, it's global and has a solid reputation for financial stability. A global Financial rebound is bad for Toronto, as cash now has other places to go to get a good return. The easy ride will be over for us here.New Trends in Condo Buying Emerging in the Toronto Area

 A few new trends to watch out for in the Toronto area when it comes to buying homes as well as buying condos. When it comes to buying homes, the latest tactic is to put a property which had previously been listed on the MLS system, on a bidding site, or list through an auction house to get buyers, sending the price of single detached homes soaring.

 As for condos the latest buying technique is the new trend with regards to micro housing, or micro condo living. And we’re seeing now, specifically designed condos to meet that purpose. Another new trend to look out for is the lack of supply in the purpose built rental housing market in Toronto. Even as new condos come online there remains a shortage of apartments built specific to that purpose, so condo rentals have increased even as vacancy climbs, rentals rates do as well.

 Busy Condo Market Boosts Toronto Home Sales 

With fewer homes in the detached category available in Toronto, new home buyers seem to be opting for new condos, with sales heading forward at a rocket pace last month. Sales of Existing Homes in the Toronto area moved up by a whopping 2.1% in February 2014, and that is compared to the same time period last year. That was mainly due to a 12.5% increase in the sales of condos within the city so stated by the Toronto Real Estate Board. That will contrasts with the sales declines that occurred in townhomes, detached and semi-detached housing during the month, which was mainly due to a constrained supply of those housing types.