maestro said:
Popcorn is probably worse than concrete. It's not sealed plaster. Spray it with water and it scrapes off easy. The very hard part is getting seamless drywall joints on the ceiling.

I'm seldom seen orange peel walls in Canada. I dislike those more than popcorn ceilings. They apply quickly and it doesn't take much experience.
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I used to live in the US and that wall finish, called knockdown drywall texture, is really popular there and drove me crazy whenever I see it. The corners are also rounded so that there is less labour in creating a perfect straight sharp corner. It looks like rustic stucco finish that belongs on an exterior of a Spanish-style building. It doesn’t age well as dirt and grime could accumulate or get trapped in the texture and the many crevices.

People rent because they don’t have the substantial down payment to purchase a home, and also some people prefer to rent because it makes their assets more liquid and allows more flexibility and ease when moving/relocating. Everyone has their own reasons to rent or buy, whether by choice, circumstances or necessity.
 
ProjectEnd said:
Define "downtown".
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City's official definition; Bathurst to the Don, lake to rail corridor. Obviously rents are cheaper on the east side and in older buildings, but I saw 2b/2bs in Time and Space that were advertised for 2600. Brand new units with good views- obviously the building has its issues, but that's not too bad. Just rent on a lower floor and you don't have to worry about the elevators.

Looked at 800 sqf units in nicer buildings for 2800-3100/month, southeast part of downtown (and not in sketchy areas, we're talking St. Lawrence and the Church St. corridor). Rents are coming down thankfully.
 
At the bottom of the price range are the studios.
I agree with the other posters that this is neither super affordable nor absurdly high.
Perhaps a renter might prefer a corporate landlord over a mom-and-pop who may have limited
property management skills and might sell the unit or take it back for self use. If the ground level
retail zone is a success that could also be attractive to tenants.

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neuhaus said:
The rent is high but not outrageous. This is a luxury and well designed development with quality amenities and full service property management in an excellent area, steps to subway. It’s pretty much in line with other newer rental developments in downtown.
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Luxury and sub 800 square feet units do not compute.
$2,400/month for 500 sq ft studio units is also gross.

Luxury isn't just finishes. It's square footage, space, larger than typical rooms. Gourmet kitchen with an ample island and LARGE sized high end appliances.

Based on photos, these do not look like most people's interpretations of luxury.

I suppose if you're a condo realtor or Brad Lamb you can spin anything into "luxury" however 😂
good grief
 
The rents seem on point with the market for never lived in with what I've seen. Some are actually lower than market and others appear
higher. Included amenities matter in defining rentals perhaps more than some extra square footage.

Toronto is just an expensive city. The rest of Canada isn't far behind.
 
maestro said:
The rents seem on point with the market for never lived in with what I've seen. Some are actually lower than market and others appear
higher. Included amenities matter in defining rentals perhaps more than some extra square footage.

Toronto is just an expensive city. The rest of Canada isn't far behind.
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Also you have access to what should be a bit of a retail destination.
 
Someone’s gotta pay the Mirvish’s for the land. I don’t think anyone around here thinks these are unreasonably priced relative to the alternatives (there is almost no similar alternative if you want to live in the Annex), just that it’s a huge amount of money to fork out every month for most people.

When you have pretty much the only new apartments in a beloved neighbourhood where they make it almost impossible to build more, you’re going to command top dollar. That’s what this is, even if there’s nothing luxury about it.
 
Almost impossible to build more? In Toronto? The 5 towers and over 800 units headlining this thread is it?
 
evandyk said:
Luxury these days just means you have laundry and a dishwasher. Stuff which obviously hasn’t meant “luxury” in single family houses for decades. But apartment dwellers don’t deserve good things in life.
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Always the victim mentality. I live in a 70s tower: everyone here has had en-suite laundry and dishwashers for donkey's years.

And as far as I can tell, many, if not all, modern buildings also have these appliances.

Way too much attention being paid to the word "luxury." It's just a throwaway marketing word. This shouldn't be a mystery at this point.
 
maestro said:
Almost impossible to build more? In Toronto? The 5 towers and over 800 units headlining this thread is it?
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Yeah, this is almost one of a kind. The next tower close to Bloor heading west is at Dovercourt. That’s why they can charge these prices. This is a really positive development that lets people live in the Annex even if they can’t afford a $2M house, but it’ll be unreachable for most people until we get a lot more of them built.

It’s the very edge of the Annex, but I think It counts.
 
These prices are consistent with the rest of the downtown and much of Toronto for new build rental condos. There are redevelopment opportunities to build more large scale rental around and adjacent to the Annex. Aren't there a bunch of tall buildings proposed around Walmer. Prehaps Spadina too with two post turn of the century rental infills built. Not in the middle of the lowrise blocks but, I'm fine with that anyways. I prefer Toronto's population to stabilize than this exponential growth putting pressure to convert family neighbourhoods into more overpriced studios and one bedrooms to rent or buy. Affordability in this real estate market is locked to undersized non family units than price per square foot. The more built, converted, the further it becomes the legacy standard. The more people, the more it makes sense to reimagine communities with inefficient population densities which also happen to be Toronto's most stable, most desirable communities. It's not a forgone conclusion more people and more multi family of the quality build today will make them even more desirable.
 
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