I got this in my email from Market Wharf today. Sounds a little desperate. And I still don't feel at all stimulated.
 

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Very desperate... I wanted to purchase in July, but they wouldn't budge on their 20% deposit structure.

Interesting times indeed.
 
Hey MikeitTO, Can you elaborate on the "difficulties"? I really like this project and hoped it would go through. It would be a shame if it was abandoned.
 
Question

I am curious why do people like this area? The condo neighbors low income housing, and the view from the water suites will be partially blocked once Pier 27 is built (I believe).

For the same price (or less), one could purchase something in the core or at Cityplace. Not that Cityplace is that spectacular and low income housing will soon fill the area, but at least the surroundings of Cityplace are newer, modern, and safe.

I am just trying to understand the appeal of this area, as I also considering buying into this project.

Thanks.
 
You do realize that St. Lawrence is considered one of the best examples of integrating mixed-income housing? (Despite Michael Moore passing it off as a Canadian "ghetto" in Bowling for Columbine.) It's not next to Regent Park, and they're building condos there too. The St. Lawrence nabe, which is mostly low and mid rise buildings, would be one of the top nabes I'd consider, and would perfer it to City Place. My one issue with this proposal was that it is out-of-scale with most others in the area.

Pier 27 is at the foot of Yonge, so it will be to the west, as Market Wharf is at Jarvis Street.
 
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A block from St Lawrence Market, a short walk to the core and Union Station. And a short walk to the lake. What's not to like?
 
St. Lawrence is a much better neighbourhood than City Place. Everything is at your door step. City Place feels so isolated and the neighbourhood is a ghost town. St. Lawrence has much more to offer.
 
Zak ... you should also noted other than different building alignments between Pier27 + Market Wharf, Pier27 is only 14 storeys, whereas Market Wharf is 32 storeys
 
I understand that the area has more to offer, however, I don't understand why someone would invest $450K in a 2 bedroom apartment near low income housing when they can invest the same amount (or less) and be on or near King West or Front St West. There is still much going on in these areas.

That being said, would the appreciation and rental potential be as high at Market Wharf versus other areas such as King West?
 
Zak said:
I am curious why do people like this area? The condo neighbors low income housing, and the view from the water suites will be partially blocked once Pier 27 is built (I believe).

For the same price (or less), one could purchase something in the core or at Cityplace. Not that Cityplace is that spectacular and low income housing will soon fill the area, but at least the surroundings of Cityplace are newer, modern, and safe.

I am just trying to understand the appeal of this area, as I also considering buying into this project.

Thanks.
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Wow, if it's as bad as you think, then why would you EVEN consider buying into the project ??!!??

I understand that the area has more to offer, however, I don't understand why someone would invest $450K in a 2 bedroom apartment near low income housing when they can invest the same amount (or less) and be on or near King West or Front St West. There is still much going on in these areas.

That being said, would the appreciation and rental potential be as high at Market Wharf versus other areas such as King West?
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If it's the money, well i do think it's overpriced ... I can't see the other posters attachment about discounts so does it affect the price much?
 
I am no expert on real estate, and am looking for an investment.... My thoughts were purely based upon my logic, however, I am new to Toronto (2 years) and know that residents view different areas differently.

If the Market is considered to be prized by Toronto residents, then it may be a good investment. My personal thoughts are irrelevant. The majority matters.
 
Zak said:
I understand that the area has more to offer, however, I don't understand why someone would invest $450K in a 2 bedroom apartment near low income housing when they can invest the same amount (or less) and be on or near King West or Front St West. There is still much going on in these areas.

That being said, would the appreciation and rental potential be as high at Market Wharf versus other areas such as King West?
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Why do people buy houses in Cabbagetown with Regent Park right across the street? Why do people move to Rosedale with St. Jamestown just across the bridge? This is just the way Toronto is and thank god it is this way. Would you rather have Chicago's situation, where the south side slum goes on for miles. The mix of races, social classes and mixed development is part of what makes Toronto an interesting place. I guess enough Torontonians are not so afraid of people in social housing. (or the homeless for that matter) I think it's more of an urban thing.
 
Zak said:
I am no expert on real estate, and am looking for an investment.... My thoughts were purely based upon my logic, however, I am new to Toronto (2 years) and know that residents view different areas differently.

If the Market is considered to be prized by Toronto residents, then it may be a good investment. My personal thoughts are irrelevant. The majority matters.
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Where are you from Zak?
How did your former home city's RE market compare to TO's?
I think TO pre-construction prices are still inflated, even compared to a year ago.
Although there are some resales out there that are somewhat reasonable.
 
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