Stroll Through Toronto Entertainment District
I did a quick stroll through the Entertainment District Today, and the changes to clubland are pretty remarkable. Where there was once a nightclub there are now shoring rigs, excavators and pile drivers. On Richmond, one of the main drags of the area, the old Joker Club which was demolished years ago stands ready to be transformed into "The Picasso" Condo with shoring rigs at the ready.
Just across the street the home of Embassy and Tonic nightclubs has recently been demolished and excavators dig out the earth to make way for "Tableau" Condos. Its like this on street after street, block after block.
Up next is along Peter is the "Peter Street" Condominium another Highrise project at the corner of Peter and Adelaide. Again another club was demolished to make way for this development, but I'm loathed to remember the name of it.
Walking south on Peter to the intersection of King and Blue Jays Way is "Bisha" Hotel and residence again, this project is taking the place of an old Entertainment District Favorite, once the home of the Second City Troop, the historic facade is being maintained and restored so as to be reintegrated into the podium level of the new condo hotel building.
At this intersection I take a breath and look towards the 355 King Street West, the old Holiday Inn on King which is also home to the TV Network " The Score" at least the broadcast arm of the studio which films here at the corner of Blue Jays Way and King.
Further down King the Toronto International Film Festival and Festival Tower (TIFF) are quite visible down the King West Strip looking towards the East. Also visible are the restaurants of "Restaurant Row" here one can enjoy unique dining experiences intermixed with Chain restaurants along John which runs at a North Axis to this East-west Strip.
Further down King Street we encounter Theatre Tower and the proposed site of the Gehry - Mirvish Towers which have taken Toronto and the Entertainment District by Storm. Theatre Tower is currently wedged between the Royal Alexandria Theatre and niche eateries, however once complete the Gehry Mirvish towers of Projectcore will envelope it.
Last but not least as the corner of King Street and Simcoe is the Roy Thomson Hall, RBC Centre and Ritz Carlton Hotel a view which also includes the CN Tower. This has become a landmark - Iconic photo over the last few years and has come to symbolize the changes in the Entertainment District over the past 6 or 7 years as condos begin to dominate the scene.
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.
Toronto is on the verge of becoming a high end retailing mecca, and this will force up home prices as well as condo prices in the central core. Word that big US retailers like Saks, Nordstorms and Target are moving into the Canadian Space, and primarily within the downtown Toronto core is likely to increase the desirability of those areas with the best access to high end shopping experiences.
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.
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