Re: Residences of Maple Leaf Square - Update/Retail
Taken from the Condo Section in Saturdays Toronto Star:
At Maple Leaf Square (
www.mapleleafsquare.com), a condominium being built beside the Air Canada Centre, a 6,000-square-foot daycare is part of the building. There will also be a rooftop garden kids can use as a playground.
Barry Fenton, CEO and president of Lanterra Developments, the developer for the project, says lots of families have been buying suites.
"The reasons families are choosing to live downtown include price sensitivities," says Fenton. "Owning a house in the outskirts is expensive and there is so much downtime spent on the highways commuting.
"Also, people want to be in the city."
Fenton says his company has sold 600 of the 850 units in four months. In his development, families will have access to a Longo's grocery store, Toronto's underground PATH system, and good schools.
The increasing cost of land, along with the growing demand for condos, means unit sizes are not huge, but Fenton says families are not deterred.
They're making it work with two-bedroom units of 750 square feet and three-bedroom units of 1,000 square feet. He even has some families combining two units to make one large suite.
"One family I know of has, I believe, four children and they've bought two units," he says. "They'll knock a wall out between the suites to make one large kitchen and will end up with lots of space."
I wonder if construction will start anytime soon??? They have pretty much sold over 70% (600 of 850 units) between both towers.