Brand New Maple Leaf Square Condos

Once I take occupancy on my new Toronto Condo, can I rent it out or even sell it?     

No, under occupancy the Condo Builder still owns the unit and most often there is a phantom rent  paid to the builder to cover, heat, water, all the common expenses associated with running the Condominium corporation until registration. 

The Condo builders forbid the renting or selling a new Condo unit and they do check new Toronto MLS listings to make sure units in their unregistered building are not showing up there.     

We see some of the units listed on the Toronto Mls but usually in less than 24 hours the  listing are terminated by the purchaser, as a result of  very strong warnings  from the builder.

Wether you are looking to buy or sell Toronto Downtown Condos you will need an experienced and knowledgeable Toronto Real Estate Agent to guide you through all what the Downtown Condominium market has to offer.

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The City of Toronto has a new partnership with Zipcar that will see parking demand greatly reduced with an ongoing on-street car sharing program.

People who live and work in the city will now find it most convenient and cost-effective to get around without owning a car.

What can be more convenient than to have access to a dedicated parked car on this quiet street perhaps like this just steps from the Hudson Condos situated at one of the busiest Toronto corners of King Street and Spadina Avenue.

Here are some of the stats on studies on  Zipcars:

• Each Zipcar replaces between 15 and 20 personally owned vehicles
• Zipcar members increase their use of public transit
• Members contribute to less overall driving, less parking demand, less congestion and emissions
• Savings estimate at more than US $600 per month compared to owning own car

Several new Toronto Condos like U Condos and the RCMI Condos will have dedicated public Car sharing access as well. For residents its a great convenience in any weather and for residents who live close to these Condos the car sharing will also be most convenient.

On the Zipcar website you can find cars by location or by car type, so keep the new Toronto On-Street auto sharing in mind the next time you need a rental car or truck.

King Street West Condos

Financial District Condos

Every business day thousands of commuters walk to work in downtown Toronto. They leave their car if they own one at home.

New neighbourhoods are attracting many new condo buyers who want to live closer to their work and who are just tired of  the commute by car, subway, bus and even train to work.

Toronto Condominiums in the Liberty Village, King West Area are very popular and the Village is growing with Supermarkets, shops,restaurants,clubs and cafes, almost everything you could want.

The financial District Condos are attracting more and more employees from the new office Towers in downtown Toronto. No commute, just steps away..from everything!

I blogged earlier how the cost of a car put towards a mortgage on a new or resale downtown Condo would make very good sense.

X2 Condos Toronto

X2 is a luxury 42-storey Condo Tower at the corner of Charles Street and Jarvis Street Toronto.    

The design team of Cecconi Simone designed the double height lobby, and landscape architect Janet Rosenberg + Associates designed a spectacular roof top garden to create a resort-in-the-city style with an outdoor swimming pool, seating, sunning areas and trees.   

The Condo suites come with stainless steel appliances, custom designed kitchen cabinetry, granite or corian kitchen countertops, stacked brand name washer/dryer, choices of  pre-finished engineered flooring and much..much more.  

Amenities on the entire 9th floor include yoga,aerobic,pilates room with a his and hers steam room. More of cardio, weights and fitness room are just some of the many amenities included. 

You can leave the car at home as Rosedale, Yorkville and Bloor Yonge areas are all just a short walk away. 

Current resale Toronto Condos for sale in the same area are listed here on our Toronto Real Estate website.

The Residences at the Ritz-Carlton are now under construction in Toronto with the glass curtain wall facade approaching the top.

The Ritz-Carlton Hotel and The Residences at The Ritz-Carlton pictured on the left, will be a $300 million development located on the south side of Wellington Street.

This luxury 53-storey Hotel-Condominium project will include 267 Hotel rooms and 135 Luxury Condominiums.This five star Hotel that offers incredible views of the City and the Lake won’t be hard to miss.

Here are some Toronto Condos for sale in the Entertainment and Financial District.

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In the last ten years Toronto has added 100,000 housing units that were mostly Condominiums and another 100,000 units are ready to be started.    

If you really think you have seen enough Toronto Condos, 57 per cent of the next 100,000 units have not been started.    

The most exciting thing to me is the new neighbourhoods that spring up for these new Condo communities and services, restaurants and cafes that encourage downtown residents to walk instead of drive.    

Actually try to turn on your Car’s GPS in downtown Toronto and you will be totally amazed at how close everything is.    

In the Toronto months without snow, jogging and bicycling can be an exciting outing, all in the vicinity of an interesting downtown.   

We do follow the Chicago Condo market and sales and future developments are almost stopped. The exciting Spire Condo in Chicago is stalled and still waiting for financing along with many other Chicago Condo projects.   

According to Toronto’s chief planner the 100,000 Toronto units completed in the last ten years is the equivalent to all the housing built in Ajax, Pickering and Whitby combined.   

Outside the Toronto downtown, the neighbourhoods of Etobicoke, North York and Scarborough are all contributing to a similar compact urban form.  

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RCMI Condos 426 University

In the last ten years Toronto has added 100,000 housing units, mostly Condos and another 100,000 are in various stages of approval, from the City Hall application to construction.  

I have always said that Toronto Condos are very competitive in pricing with Condo suites for every budget and choice locations for thousands of workers spread across the entire city from Mississauga to Scarborough and North York to downtown.  

Toronto’s chief planner in a recent address told an audience that “Living downtown is desirable..”  

The 100,000 new Toronto units constructed in the last 10 years is equivalent to all the housing built in Ajax, Pickering and Whitby combined.  

All the development of these New Condos was infill, resulting in a huge cost saving of not having to build new sewers, roads or other transportation infrastructure. 

Pictured above is the new planned Condominium project, RCMI 426 University Ave.,Toronto.

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One of Canada’s largest Commercial Real Estate companies  may be about to face off against the largest mall owner in the U.S. over aquiring General Growth Properties Inc.

Brookfield Asset Management Inc., of Toronto, which manages some $40 billion of commercial property world-wide, has purchased close to $1 billion of General Growth’s unsecured debt to position itself to make a bid on the company or some of its malls.

General Growth, known as GGP, is the country’s second-largest mall owner with 200 properties. It collapsed under billions of dollars in debt at the height of the credit crisis and has been operating under bankruptcy protection since April.

Brookfield, whose most prominent properties include World Financial Center in downtown Manhattan and Brookfield Place office complex in Toronto, has been trying to break into U.S. retail for years.

Brookfield in the past year has raised $5 billion, mostly from institutional real-estate investors contributing to its newly created restructuring fund for making acquisitions.

Brookfield manages a total of more than $98 billion in assets, specializing in infrastructure, power plants and commercial property.

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X Condos Toronto

X Condos under construction in Toronto, with the picture taken from Yonge Street showing how close this new Condominium project really is to the Bloor Street neigbourhood.

Just beside the X Condos is the top of the Rogers  Communications Inc. Toronto headquarters.

To the right of the X Condos and across Charles Street will be the new X2 Condos that we heard about in the press when they first went on sale to Real Estate Agents.

It appears the reason both Condo projects are so popular is price and location.

The price is very competitive compared to other new Condo projects downtown and the location is just steps from Yonge and Bloor and beyond.

This 44-storey Condo tower will be the newest addition the Bloor Street corridor and will join other luxury Condos in the immediate area like Casa, and The Bloor Street Neighbourhood Condominiums.

Current Toronto Condos for sale in and around the Bloor Street neighbourhood.

If you would like to inquire this or similar Toronto Condos for sale please contact me here.

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The average price of a Canadian home sold last month was $341,079, a 20.7% increase from a year ago, according to the Canadian Real Estate Association.

 Sales also continued to climb with 42,288 units trading hands, a 41% jump from October, 2008. Existing home prices across Canada are now rising at a pace unseen in 20 years raising fears that a bubble may be forming in the Real Estate market.

New listings last month in the country’s 25 largest market were off 16% from a year ago creating a surging demand for existing listings that are in short supply.

The rapid-fire rebound in Canadian housing is showing no sign of letting up.

 Toronto, the largest market in the country, saw a 20% increase in the average resale price last month from year ago and Vancouver, the most expensive market in the country,saw  sales up 170.8% from the same time a year ago..

 The average mortgage rate negotiated in the past year was 4.55%, a decline from 5.41% a year ago.

CREA is now predicting prices will rise 4.2% for 2009 after suggesting they would only increase by 1.5%.

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