Well, I have some good news, and I have some bad news, The Four Seasons Hotel and Residence (Condo) in Toronto is bringing some of the fabulous luxury of the old hotel to the east side of Bay Street. The sad part or the bad news is, the East side of Bay Street, does not yet have quite the same amenties and cafes as the Yorkville Village we are all accustomed too. Have no fear, that once this hotel opens there will be a land grab and rush to develop all the parking lots in the nearby vicinity to hoist even more cafes and super tall hotel and condo towers. The first on the block is Menkes, with their purchase of the Parking Authority lot for over $76 million dollars, and plans to erect one tower of 69 floors and 239 meters, and a second towerof 48 floors and 180 meters.
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Then there is the Cumberland Revelopment plan which calls for the demolition of the exisitng Cumberland Terrace Mall, and it to be replaced with a single condo tower roughly 200 meters tall. Last but not least, in no shape or form is the Holt Renfrew Tower, which will become the tallest tower (condo Residence) in Canada when complete at an ashonishing 277 meters and 83 floors. Yorkville, as they say is on the up and up. Looking forward to bringing you guys more developments on these sites as they progress in the future.
Secrets of Toronto's Development Success:
Toronto is a true international city, it has drawn hundreds of thousands of people from all over the world, seeking to make a better life. It's people are industrious and entrepreneurial, which along with some great geographic luck has made Toronto's economy one of the world's most dynamic finance, trading, exporting and manufacturing centers. Over the past 15 years there has been a dramatic shift in the population patterns of the Greater Toronto Area (GTA) as the population begins to concentrate into the downtown core, for reasons ranging from transport without a car, to low condo pricing, for young people. Over the last decade an average of 10,000 new condos per year have been sold in the core, in the past 5 to 7 years this average has been over 15,000 new condos. and in the past 3 years there have been over 20,000 new condo sales per year. There is a flare associated with downtown living in Toronto, that the suburbs can't match. It's attracting more people everyday, and so far, there seems nothing set to change it.
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