We paid almost $500/SF. for a 686 SF. south unit facing in the Star Tower, and trust me, my wife and I keep second-guessing ourselves ever since...

I wish we would have found this site before we signed our contract!
 
u should never buy based on a view unless you building is right up against the water or against protected land .......
 
We paid almost $500/SF. for a 686 SF. south unit facing in the Star Tower, and trust me, my wife and I keep second-guessing ourselves ever since...

I wish we would have found this site before we signed our contract!

Why are you second guessing yourself? I'm sure Beyond the Sea is going to be a great building as well. South facing units are a premium in every waterfront project from what I have seen. They also have great re-sale value and are the most sought after units. Also as I mentioned before, nobody's views are guaranteed, it's just a chance that everyone takes and your guess is as good as everybody elses on what's going to get built around you in the future. I'm sure all of these great projects on Etobicokes waterfront will add much value to both the community and your investment. Don't sweat it too much....you'll be fine.
 
We paid almost $500/SF. for a 686 SF. south unit facing in the Star Tower, and trust me, my wife and I keep second-guessing ourselves ever since...

I wish we would have found this site before we signed our contract!

Your view is basically guaranteed for the life of that condo (and Toronto). Nobody will be building in parkland.
 
When we bought the place we were okay with the price, (I guess we didn’t know better as a result of inflated prices in Calgary :eek:).

Once I stumbled upon UT and started reading some of the members’ comments on the forum (won’t name names); that’s when we started to have second thoughts.

I guess there will always be people that will say “You paid too much!†or “You know what you could’ve gotten for that price?!â€

Thanks to those who wrote, I appreciate your reassurance on the location, etc. We do love being close to downtown, the airport, etc. and the view is beautiful.

MODs, I’m probably getting off topic here so please feel free to move it where you see fit.
 
New high rises

We are considering Biltmore on high floor on the new tower facing east. Our question is will the view be jeopardized by new developments? The way the building faces we think it will be Ok but would appreciate comments.
 
We are considering Biltmore on high floor on the new tower facing east. Our question is will the view be jeopardized by new developments? The way the building faces we think it will be Ok but would appreciate comments.

The Biltmore is facing NE, not E... I found out that when I took the Condominium Document home after I put down the deposit. The sales brochure with prices said E. I went back and ask, at first they say E, but when I show them the document with the architectural drawings, they admit NE. Biltmore is being built parallel to CN rail facing NE at that particular site. I think the new developments on Marine Parade and Lake Shore will block city/water view due E, like Nautilus/Waterscapes and other developments to the W of them along Marine Parade in the future. Direct NE view is the highway, unless the cookie factory is being re-developed it's fine, but I'm not going to pay more than $500 psf just to look at QEW.

I explained to the manager regarding this concern and they offered me more discount in closing and extra parking before I sign the rescission paperwork. See what they'll offer you in extra incentives if you really like the unit!
 
We are considering Biltmore on high floor on the new tower facing east. Our question is will the view be jeopardized by new developments? The way the building faces we think it will be Ok but would appreciate comments.

Nobody can ever guarantee you unobstructed view BUT you will have nice lake view imo... as for the city view i dunno... it all depends how fast motel strip condos will rise and that will take couple of years at least...
 
We are considering Biltmore on high floor on the new tower facing east. Our question is will the view be jeopardized by new developments? The way the building faces we think it will be Ok but would appreciate comments.

The view may be jeopardized in the future....we just don't know yet. To the east there is the motel strip that will be redeveloped, but not sure when exactly. I chose a south western facing unit because the chances of someone building directly where Mimico Creek is, is very slim. I think the city owns that land anyways. As far as the south side is concerned, I will be facing the Humber Bay Park so no high rises going up there either. There is one piece of land, I think occupied by a low rise office building to the south before the park, but I'm not sure if that is going anywhere either. Hopefully I made a wise decision. Any new projects will have to be at least 35 meters apart as per the Etobicoke City Council decision on development in the Humber Bay Shores area. I think the city got a lot wiser ever since the Marine Parade fiasco.
 
Tortoro, your experience scares me. Did they say the unit faced east when they were selling you?

Yes, they quoted facing E. Even on the price list, Biltmore is listed as facing E , and is the only unit that is facing E. We put in the deposit based on that, but found out it's NE in the Condominium Documents.

I believe the land South of SB is also being developed. There're 2 towers going up immediately south to it (SB just got approval for a tower in June), and the big piece of land where the commercial unit is, will be developed by Onni, 3 towers. Correct me if I'm wrong though. But All the South facing units are priced cheaper per sq. ft than the Biltmore, I'm assuming the builder is pricing it accordingly as South facing units' view will be blocked. I don't know how severe though.
 
going back the thread ... this provides a snapshot of future developments to expected in the area ... for any further details you should call Mike McCart in the City Planning Department @ 416.394.8228

Could someone maybe make a map of where all the developments in this area are going? Pretty Please : - )

I'm hardly ever in this area so I can't visualize them at all.
Some Context

Hope this helps ~
 
Yes, they quoted facing E. Even on the price list, Biltmore is listed as facing E , and is the only unit that is facing E. We put in the deposit based on that, but found out it's NE in the Condominium Documents.

I believe the land South of SB is also being developed. There're 2 towers going up immediately south to it (SB just got approval for a tower in June), and the big piece of land where the commercial unit is, will be developed by Onni, 3 towers. Correct me if I'm wrong though. But All the South facing units are priced cheaper per sq. ft than the Biltmore, I'm assuming the builder is pricing it accordingly as South facing units' view will be blocked. I don't know how severe though.

Are you sure that South Beach is planning on building a third tower? Where did you get that information if you don't mind me asking? Also, I don't believe that Onni owns that land anymore....but I could be mistaken. Btw, the reason why the south facing units are cheaper than the Biltmore is because they are a lot smaller. All the other units that are southern exposure are more expensive than the Biltmore. I don't think the Biltmore will be facing the highway or the tracks because of the way the buildings are going to be staggered...as far as I know there is nothing in the pipeline as far as condos are concerned to the south of south beach before lakeshore and the park, but I could be wrong. If there was, I think there would be a thread on UT, but I couldn't find it...
 
Are you sure that South Beach is planning on building a third tower? Where did you get that information if you don't mind me asking? Also, I don't believe that Onni owns that land anymore....but I could be mistaken. Btw, the reason why the south facing units are cheaper than the Biltmore is because they are a lot smaller. All the other units that are southern exposure are more expensive than the Biltmore. I don't think the Biltmore will be facing the highway or the tracks because of the way the buildings are going to be staggered...as far as I know there is nothing in the pipeline as far as condos are concerned to the south of south beach before lakeshore and the park, but I could be wrong. If there was, I think there would be a thread on UT, but I couldn't find it...

Regarding ONNI/MENKES

SUBJECT PROPERTY
The Land Services Group represented Menkes Development, a multi- disciplinary real estate development company, and AEW Capital Management, an international investment management firm headquartered in Boston, in the disposition of their site located at 2200 Lake Shore Boulevard West and 10 Park Lawn Road.
At the time of sale, the complex located at 2200 Lake Shore Blvd West held 22 office units and 14 storage units with lease terms expiring from June 2007 to June 2011 and was approximately 139,523 SF with a NOI (for 2007) of $1,600,000.
The complex located at 10 Park Lawn Road was leased to Kraft as one unit of office and one unit of storage with the lease expiring in July 2014. This building was approximately 53,705 SF and had a NOI in 2007 of $725,000.
This site has been approved for 1200 high density residential units and 195,365 square feet for commercial use. This property signifies a unique development, being one of the last remaining developable sites along the Etobicoke waterfront corridor.
OUR ROLE
Within the first several weeks a listing agreement was negotiated that provided incentives for CBRE if the team achieved a purchase price in excess of the initial valuation. During the negotiation of the listing agreement, the team assembled due diligence, built a marketing campaign and prepared offering materials. This property was offered for sale without an asking price via the Modified Tender Process. Interested proponents were asked to submit offers for this unique opportunity according to our Offering Process outlined in our Confidential Offering Memorandum (COM). In a six month period the Land Services Group received the listing, brought the property to market, shortlisted and negotiated a deal and lastly, completed the transaction.
OUTCOME
Through the Modified Tender Process, the Land Services Group produced a competitive bid process that generated multiple offers resulting in a successful acquisition by ONNI Group of Vancouver for $56 Million.
http://www.cbre.ca/NR/rdonlyres/7E7...3D3357502C/751850/2200Lakeshore10Parklawn.pdf

After reading this, I have no interest in any S facing units from SB. There's also a map somewhere, I couldn't find it at the moment which shows how the condos are being built, it is quite massive compared to SB. They are also taller than SB.

------------------------------------------
Regarding Another Building by SB.
http://eleganthomesinwesttoronto.blogspot.com/2009/06/south-beach-condo-gets-approval.html
It is not a 3rd building right at the site, but it is also taller than the current SB Blue and Green, and will no doubt affect views towards the city/lake.
------------------------------------------
Regarding $ per Sq. Ft.
I'm using Green Tower 10th floor for calculation; quoting Special Preview Prices which I got approx 2 weeks ago.

Name Sq Ft. Exposure $ / Sq ft
Astor 454 S/W 458
Seville 508 S/W 492
Palms 590 S/W 477
Biltmore 648 E 489
Avalon 659 N/W 417
Victor 703 N/E 497
Colony 784 N/W 408
Tides 824 S/E 447
Sagamore 854 S/E 443
Collins 971 W/S/N 428
Raleigh 1004 N/E/W 471
Lido 1036 S/E/W 463
Delano 1106 S/E 479

NE facing (Highest per Sq Ft, City/Water view no blockage until Christie gets developed or Condos West of Waterscape starts to rise, then the view will be so blocked).
Raleigh @ $471
Victor @ $497
Biltmore @ $489
Delano @ $479

SE facing (This should be the best water view to me, but is priced almost the lowest apart from N facings... Personally, I believe the developer knows buildings due S of SB site will block S city and water views.)
Tides @ 447
Sagamore @ 443
Lido @ 463

SW facing (I think you're facing the Blue tower)
Lido @ 463
Palms @ 477
Seville @ 492
Astor @ 458

NW facing (Kind of close to the train tracks)
Collins @ 428
Avalon @ 417
Colony @ 408
 

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