Construction Update on the ICE Condos Towers in Downtown Toronto Towers are being developed by Lanterra and are located at the intersection of York and Bremner right beside the Air Canada Centre as well as the new Ripley's Aquirum on the Bremner Strip. Other nearby attractions and facilities include, the CN Tower, Harbourfront, as well as the Rogers Centre (formerly Skydome)
Ice Condo construction development is actually ongoing when there is increased urgency by potential tenants whom are on the lookout for accomodation priced in a resonable range in the downtown core. When younger professionals and urbanites that make the the move to the core, they're facing rents that are well over $2000 dollars per month which in additon are being driven up by wild bidding wars for housing, of all types. The rental vacany in Toronto is about 1.4 percent, right now, and that's down from 3.5 per cent about 3 years ago. And the demand for the new condos,
Like ICE in southcore has become intense as there is not enough supply to keep up with demand, and new construction projects have possible 5 year time lines, and construction horizons. The young professionals that are driving the Toronto condo market are yearning for the Manhattan style lifestyle that Toronto now affords, and there are currently 52,000, and countless hundreds of massive skyscrapers coming down the pipe for Toronto even as the condo market slows down.
Toronto will soon mirror Manhattan, where you will pay $5000 dollars month for small one bedroom condos, that will price in for $1 million dollars. Below is a picture of the ICE Condo which has mostly sold to investors whom will rent their properties out, the towers will range from 57 floors for the shorter tower, the taller tower will reach 67 floors and 235 meters, becoming one of the tallest buildings in the city.
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