[DZ2007]

Update

Just to reply to various posts in this thread:

- the ground-breaking for Phase II will be April 10th.

- less parking lots in clubland will now mean even more congestion and fighting for those precious few street spots, and will mean that the big underground lot can probably jack up its price from $20 to at least $25

- the initial occupancy date of November 2008 for Phase 2 has been postponed to April 2010

- suites at phase 1 initially were sold for $305/s.f. back in November 2005, with a 460-sf unit going for just $139,900; currently the remaining suites are selling at $560/s.f. so it would have been a fantastic investment in late 2005 or even in early 2006

- the developer that is building Boutique has bought land at the southeast corner of Peter and Richmond and will be building a condo there, of which no details are yet available (arguably the first foray into the heart of clubland)

 

[Bentley]

I looked at boutique a couple years ago and it was way over priced. Still is if you ask me. The unit I looked at was 520/sq ft with the bare minimums. With the upgrades I looked at (some bathroom upgrades, cabinet upgrades - basically to have a similar unit to the model suite), it was going to come to nearly 600/sq ft. Keep in mind this was before they added the second phase tower so it was just going to be a loft building at this stage. I assume with the demand they jacked the prices up. I'm sure they came down a little when phase 2 was announced.

I liked the idea of having a rooftop lounge and pool with the cabanas, but regardless, for those prices I could buy in Yorkville.

I must say though, the floor plans and finishes were pretty impressive, especially the two level loft units. The building itself could be a little prettier though.

 

[marcus_a_j]

the developer that is building Boutique has bought land at the southeast corner of Peter and Richmond and will be building a condo there, of which no details are yet available (arguably the first foray into the heart of clubland)

If Peter and Richmond is the heart of the club distict, then the "first foray" would be just a wee bit east at the former Joker site, where TAS Design Build (of Dia and M5V fame) have already demolished the building and opened a parking lot. It is hard to say who is the first since there are numerous projects built, under construction and in sales within a few minutes walk of "the heart", which is subjective location.

 

[V of E]

I looked at the Boutique Condo site on Nelson Street when I was on my 4 hour Saturday walk. The site covers almost all the south side of the block between John and Duncan or is it Simcoe and Duncan. I can't remember now. There are just two small buildings on each corner and the two adjoining Condos of 36 and 20 floors respectively will occupy the rest of the block. It will be quite massive actually. One odd side note to this. The excavation is complete and goes down about 6-8 floors and the 4 sides of the excavation have been framed in wood. However there are a series of about 20 cylinders in two sizes, one set about 4 ft diameter and the other set about 2ft diameter placed between the north south span in no particular set pattern. Maybe they are having trouble with the sides of the excavated walls caving in. In any event they will obviously have to remove these huge cylinders before they continue with construction.

 

[DZ2007]

Bentley, couldn't have been 600/sf a couple of years ago for the 520-sf unit. I know exactly the unit you're talking about (http://www.boutiquecondos.ca/carlyle.html) because I purchased that one, as well as one of my friends. I got a 7th-floor unit for 194,900. Not anywhere near 600/sf, this was May 2006. It only started approaching the 600/sf level recently, when they released the top 16 floors.
I also think the ShangriLa had a huge influence on the prices being jacked up - right across the street units are selling for over $1000/sf so it kind of gave Boutique room to jump from the $350 range to the $550 range.

And Marcus, thanks for informing me, I wasn't aware that TAS had already taken down Joker and is about to start selling for a development there on Richmond. Hard to argue that that spot is also not part of the "heart" of clubland. But the bottom line is, that part of the city is going to change tremendously over the next five years from what many of us remember in our partying days. It's the beginning of the end of an era, as the clubscene on Richmond is extinguished, and Adelaide & King West will carry the torch.

 

[Bentley]

DZ, the unit was the Sezz floorplan (same as the model unit). The starting price was over 500K (I believe the unit is just over 1000 sq ft correct?)

With the upgrades that the model unit had (the beautiful black cabinets with extended island, italian flat basin in the bath, SS appliances, upgraded tiles, etc) the final price was just about 600k.

I don't know what to say...those were the prices the sales agent gave me when I went in to check it out. At this point a large portion of the units were already sold so maybe they had begun to jack the prices up because of the demand.

It was way out of my league, but that floorplan was fantastic. I seriously wish every loft style condo had an identical two storey unit.

 

[Ore]

Just to reply to various posts in this thread:

- the ground-breaking for Phase II will be April 10th.

- less parking lots in clubland will now mean even more congestion and fighting for those precious few street spots, and will mean that the big underground lot can probably jack up its price from $20 to at least $25

- the initial occupancy date of November 2008 for Phase 2 has been postponed to April 2010

- suites at phase 1 initially were sold for $305/s.f. back in November 2005, with a 460-sf unit going for just $139,900; currently the remaining suites are selling at $560/s.f. so it would have been a fantastic investment in late 2005 or even in early 2006

- the developer that is building Boutique has bought land at the southeast corner of Peter and Richmond and will be building a condo there, of which no details are yet available (arguably the first foray into the heart of clubland)

I agreed I really like the New York Style loft at the Boutique Condos but it only has the one bedroom layout. The price has increased almost double since day one in October 2005. Back Oct. 2005 they offered a very good package with purchase $5,000 cash back or upgrade. The Paramount model (two bedroom suite) with a parking and a locker below $250K. Also, the current price has increase so much because of the 5-Star Shangri-la Hotel's price is selling more $900/sqft.

 

[aiekon]

I purchased a unit here way back in January 2006. I was able to buy a 651 sq ft + 85 sq ft unit for $215,900 with $8,000 towards upgrades. Over the months I would drop by and see how sales were going, and to be honest, I was shocked to see how much the cost of the units went up. My unit was roughly around $330 per square foot at the time, and a few months later, the price for units roughly the same size, on the same floor, shot up to about $500 per square foot.

 

[Bentley]

I purchased a unit here way back in January 2006. I was able to buy a 651 sq ft + 85 sq ft unit for $215,900 with $8,000 towards upgrades. Over the months I would drop by and see how sales were going, and to be honest, I was shocked to see how much the cost of the units went up. My unit was roughly around $330 per square foot at the time, and a few months later, the price for units roughly the same size, on the same floor, shot up to about $500 per square foot.

I bet you're loving life right about now, lol. Wait until Shangrila and the Ritz are done. You'll have done very well.

 

[aiekon]

With the upgrades that the model unit had (the beautiful black cabinets with extended island, italian flat basin in the bath, SS appliances, upgraded tiles, etc) the final price was just about 600k.

The upgrades in the model suite were fabulous. I definitely want the extended island feature as well as the flat sink in the main bathroom. I wonder how much that will set me back? I'm pretty confident that the $8,000 given towards upgrades will only cover the bare essentials, such as having hardwood flooring through the entire unit (non-penthouse units have carpeting in the bedrooms and den) and perhaps changing the rolling "wall" (bedroom doors) to frosted glass.

I bet you're loving life right about now, lol. Wait until Shangrila and the Ritz are done. You'll have done very well.

Let's hope so! Here's hoping that the building doesn't go into receivership! Anyhow, I'm actually quite content with the building being delayed until September 2009 as I can continue saving for the remainder of downpayment, furniture, closing costs, etc.

 

[DZ2007]

I purchased a unit here way back in January 2006. I was able to buy a 651 sq ft + 85 sq ft unit for $215,900 with $8,000 towards upgrades. Over the months I would drop by and see how sales were going, and to be honest, I was shocked to see how much the cost of the units went up. My unit was roughly around $330 per square foot at the time, and a few months later, the price for units roughly the same size, on the same floor, shot up to about $500 per square foot.

You got in at a great time! I was only four months after you, but was stuck at $360/sf. I think they really underpriced though ... even in Jan/06, the downtown core condo prices for brand new units were much higher than $330. Great find, and could even appreciate more between now and move-in date. Target around $700/sf? Who knows.

 

[aiekon]

I agreed I really like the New York Style loft at the Boutique Condos but it only has the one bedroom layout.

I actually find the layout for the two bedroom/two storey loft units a little strange, as almost all of them have both bedrooms side-by-side overlooking the first floor. It makes me wonder how much privacy one can actually get in those units....

You got in at a great time! I was only four months after you, but was stuck at $360/sf.

Oh, well I guess I should also point out that it's likely you're paying more per square footage as your unit is 3 floors higher than mine.

 

[yyzer]

as DZ2007 originally reported, there was groundbreaking for phase 2 yesterday...

Boutique 2 groundbreaking celebrates life at the centre of the city

TORONTO, April 11 /CNW/ - Celebrate life in the centre of the city at
boutique. Located at the nexus of the entertainment, financial and theatre
districts and amongst the finest Five Star condominium towers in Toronto,
boutique offers prospective homebuyers possibly the final opportunity to live
at the centre of it all. On Thursday, April 10, 2008, Urban Capital Property
Group, together with partners West Development Group, Malibu Investments Inc.
and ALIT Developments Inc. hosted a party for all future boutique residents,
marking the groundbreaking of boutique 2, the second of the two phases of the
condominium community.

"We are thrilled with the success of boutique and pleased to be breaking
ground for boutique 2 with all our partners and so many of our future
residents who are here to celebrate with us," said Mark Reeve, Principal,
Urban Capital Property Group on behalf of the entire development team.
With construction now underway and only a handful of covetous suites
remaining, which begin in the $300,000's, prospective residents are encouraged
to visit the boutique sales presentation centre to learn more about the living
possibilities at boutique, especially the spectacular penthouse collection.

The boutique Penthouse Collection

boutique offers homebuyers a life where they can fully indulge themselves
both on the town and at home in the exclusive penthouse lofts. boutique's
penthouse collection of two-storey suites offers a variety of designs,
throughout the Upper and Lower penthouse levels. Ranging in size from 1,070 to
1,635 square feet, these chic residences are priced from $550,000 to
$1,250,000. The penthouse collection also includes two-car parking for each
suite.
This superb collection of homes offers a contemporary loft experience
with panoramic windows, barn-style rolling doors and an open-concept living
area. One of the most stunning aspects of these penthouse lofts is their
approximately 18-foot windows, offering commanding views of the lake and
downtown Toronto's most remarkable landmarks. Of course, homebuyers can
customize their suites to meet their personal taste, with a wide choice of
top-quality finishes, including pre-finished hardwood floors. In the kitchen,
select from contemporary cabinetry with granite counters, a ceramic tile
backsplash and ceramic or porcelain tile on the floors. The bathrooms provide
a luxurious spa-style retreat with custom vanity mirrors, marble counters and
contemporary vanity cabinetry. Spacious closets are found in every suite, as
is the convenient in-suite laundry.

At the Nexus of the City . . . Overlooking Everything

boutique is strategically located where the theatre, entertainment and
financial districts converge. Only steps away from the future Shangri-La
Toronto, boutique is located at the centre of Toronto's emerging Five Star
condominium towers. Roy Thompson Hall, the Royal Alexandra and Princess of
Wales theatres and the Centre for the Performing Arts are all within walking
distance. The Scotiabank Theatre Toronto and the lounges and restaurants of
Queen, Adelaide, Richmond and King Streets are also close by. Take a stroll
along Queen Street for some of the city's best shopping or head over to the
Eaton Centre to spend an afternoon browsing hundreds of shops. Whether heading
out for a concert or sporting event, boutique's tremendous location makes it
simple to venture to the Rogers Centre and the Air Canada Centre with two
subway stops close by and Union Station only one stop away.

Hotel Style Amenities at boutique

The ultimate boutique lifestyle is found in the spectacular amenities
synonymous with the boutique hotel experience. Gracing the ground floor is a
fully equipped fitness centre including a cardio theatre, weight-training room
and yoga studio, a counter current pool and his and hers change rooms with
steam rooms. A business centre with a meeting room, as well as two guest
suites for out-of-town visitors are also available. The proposed boutique
bistro and spa will offer additional opportunities to relax and bask in the
downtown city life.
boutique's stunning Skyline Lounge, Billiard Bar and Sunset Patios are
found on the roof. The Skyline Lounge offers an ideal spot to sit and unwind
in the lounge with its gas fireplace and socialize with friends at the
communal bar. Residents and their guests can enjoy a game of pool in the
Billiards Bar or cater a private function thanks to the fully equipped
kitchen.
The West Patio gives residents a place to relax, whether beside the
plunge pool, under a private cabana or on one of the chaise loungers. With its
limestone patios, ornamental grasses and frameless glass handrails, the patio
is a breathtaking escape from the bustle of the city. The East Patio has a
third bar and gas barbecue making it easy to entertain within the trellised
dining area. In the evenings residents can cozy up in one of four sunken fire
pits to enjoy the views with friends.
Thanks to boutique Executive Concierge Services you can have whatever you
want, whenever you want it. The concierge will help you plan a trip
out-of-town, help find a housekeeping service or handyman, arrange grocery
delivery or book a taxi or limousine. For a great night out in the city, ask
your concierge to make your restaurant reservations and book your tickets to
the hottest concerts, theatre and sporting events. Other services include
laundry and dry-cleaning and pet walking and minding. And the boutique
lifestyle is efficient and affordable because you will only ever pay for those
services that you use!

Check-In at boutique

The boutique presentation centre and model suite are located at 126
Simcoe Street, one block west of University Avenue between Richmond and
Adelaide Streets. The sales office is open Monday to Thursday from 12 p.m. to
6 p.m., and Saturday and Sunday from 12 p.m. to 5 p.m. (closed Fridays). For
more information please call 416.362.2227 or visit www.boutiquecondos.ca.

The boutique Team

The Urban Capital Property Group in partnership with West Development
Group, Malibu Investments Inc. and ALIT Developments Inc. is developing
boutique. Toronto-based Urban Capital is one of Canada's most innovative
development companies, with numerous intimate scale residential buildings that
push the envelope in terms of design, use of materials, and attitude to
condominium living. West Development Group is a cutting-edge group comprised
of professionals from every sector of development, design and construction,
renowned for its novel, innovative and contemporary approach to development
and design. Malibu Investments Inc. is a large international development and
general contracting company with worldwide experience in residential
construction. ALIT Developments is an international commercial and residential
real estate company with investments in a number of Toronto condominium
projects. The design team behind boutique is ZAS Architects and Cecconi Simone
Interior Designers. Both are Toronto-based, award winning design firms with
international reputations for excellence in design.

 

[urbandreamer]

Today's progress:

 

[Towered]

Seems to be going super slow.