innsertnamehere
Superstar
website is up, claims that condos are starting at $199,000. Damn cheap. Square Footage prices have certainly declined over the last few years.
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pmilo
Active Member
What are peoples thoughts on this place? I think it seems cheap at $199 000 because of location (not because of declined prices), but that area is slowly building up with PACE condos, Tim Hortons, and a proposed Ryerson residence. Perhaps a good investment? I can't get past the pricing its luring me in. Only downfall is a 2 min walk east and the area is sketchy; right next door to Sherborne and Dundas.
innsertnamehere
Superstar
The whole area will probably change a whole lot in the near future, between this, Core, Pace, Ryerson, Regent park redevelopment, etc. I can see it really cleaning up over the next decade or two.
pmilo
Active Member
You think even along that Dundas stretch from Jarvis to Parliament?
Torontovibe
Senior Member
A lot of people were predicting Regent Park would never sell but it did. Its whole image is changing now. I wouldn't be surprised if the same thing happened here. It's time for Dundas east to transform. It's taken long enough.
ksun
Senior Member
I was told Core was pretty much sold out in a matter of days.
The "I wouldn't go east of Yonge" kind of thinking is so outdated.
Dundas/Jarvis/Moss Park is so much better located than "hot nabes" such as Liberty Village, Trinity Bellwoods, Distillery District etc and is bound to transform.
ksun
Senior Member
Really? First, it starts at $199,998, so basically $200k; second, we don't know how big the smallest units is, most likely under 400sf. Consider it 350sf, it is still 615/sf, pretty much in line with Pace and Core, and other new launches with similar location.
Square footage certainly declined over the last few years? ummm, I don't know based on what evidence. Start talking about that when you see new condos priced below $550/sf in the core. Prices certainly stabilized, but most definitely not declined.
innsertnamehere
Superstar
We were seeing many condos in the $800 range for a while, that is what I was talking about. I realize this is in a different more down and out area of the city, but mid 2011 it was hard to find something for less than $700 it seemed.
RiverCity1
Active Member
And this is the exact reason why developers have taken a huge interest in downtown east: cheaper land, but still super close to the core and prime for redevelopment and renewal. But let’s not get too crazy here in thinking that Queen Street East will be the new Queen Street West. We need to be realistic from a real estate investment standpoint. The west will always be more desirable than the east due to the east being historically associated with poverty as well as crime. But at least there is an effort to improve things here over the last 15 years. The west and core have become too expensive; and developers still want to make some profits. The east is turning around for the better, that is for sure. But it's also a slow change. For those who don't mind a disproportionate number of methadone clinics, shelters, and shootings then this is the place to be.
innsertnamehere
Superstar
I'm not claiming it will be the new Queen west. its just that it will start to have a middle class population in the next few years, while for the last half-century it has largely been populated by shelters and public housing. those won't be disappearing, but a middle class will start to live in the area in significant numbers over the next little while.
ksun
Senior Member
You are not comparing apples to apples. There are very few projects in the $800 range so far, all of which are luxury products to start with （Trump, Shangri-la etc). A typical condo downtown west has been $600-700 mostly in the past few years.
"in mid 2011 it was hard to find something for less than $700"? It is hardly true and Toronto has never been that expensive. If you look at the same condo in downtown, prices hardly declined from mid 2011. I think you are only doing wishful thinking here.
Mississauga Slim
Active Member
Of course it's an advertisement filled with developer marketing-speak, so you have to take that price with more than a few grains of salt. Such ads are always full of "weasel words" like "starting from," "as low as," "up to," and so on. They're usually true in some highly qualified sense. The purpose, of course, is to get your attention and get you into the sales office. Once you're in there you'll get a better sense of the real prices. Even then the price will be padded with a lot of "sales cushioning."
pmilo
Active Member
get ready folks. Insider info says VIP phase will be launching Feb 11th
waltthizzney
New Member
Anyone thinking this area wont clean up is delusional. And even if it doesn't it is still a desirable place to live. Toronto's infrastructure is such a joke that any development between Dufferin to the Don river and up to bloor is basically is a safe bet if it is affordable like this one. Not that I would ever want to step foot in liberty village or cityplace though !!!
West End Boy
Active Member
Took me awhile to figure out that this promotional render is indeed looking towards the east, but with the CN tower, Dundas Square, and many other buildings thrown in behind it to jazz it up, even though they are actually in the opposite direction.
One of my pet peeves is advertising images that are outright lies. Embellishments I can live with, but this is ridiculous.
One of my pet peeves is advertising images that are outright lies. Embellishments I can live with, but this is ridiculous.
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