There's a 450 sqft unit. I think the layout's pretty good. I have a friend who's interested in purchasing for investment purposes. It's $300K.

This building will probably take 5 years to build. The market should most likely be more stable by then as well. I think this building will hold its value. What do you guys think?

http://www.menelikfernandes.com/wp-content/uploads/2010/11/1br.pdf

In view of the heritage designation likely any view he gets may well be maintained, a definate plus. Location fo building. Excellent.
Price: This has been debated alot and I don't think at $667/sq.ft. it makes alot of sense as a rental. To live, another story but you say it is an investment.
Rent based on $2.50/sq.ft would be $1125. Let's assume because of location you can get $1400 for this a very small one bedroom (more like the size of bachelors elsewhere). Taxes:$250/month. Insurance $10/month. Condo fees (based on 45 cents (I am just plugging in a figure) $202/month. Assuming no vacancy and no real estate commission (that your friend will advertise himself) say $10/month(assuming it is $120 for an ad to run a few days): means minimum of $472/month.
Even assuming your friend has 100 percent of the cash: His return is$928/month x 12 or $11136/310000(allowing for his legals LTT and soft closing costs of $10000) is 3.6%. This has assumed pretty ideal conditions: no vacancies, no realty fees, high rent on a sq. footage basis of over $3.00/ft which is beyond C01 non luxury rents presently and there has been no rent increases the past few years.
It better appreciate in value because it is barely a breakeven if he has 3.5% financing or accepts 3.5% on his money and he better hope that interest rates are not up at that point in time or property values down.
If you are speculating about where interest rates or the market will be in 5 years, who knows. Big risk but that is my view only.
 
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There's a 450 sqft unit. I think the layout's pretty good. I have a friend who's interested in purchasing for investment purposes. It's $300K.

This building will probably take 5 years to build. The market should most likely be more stable by then as well. I think this building will hold its value. What do you guys think?

http://www.menelikfernandes.com/wp-content/uploads/2010/11/1br.pdf

It's actually $304900 for that unit on 7th floor. Do not forget that some units were sold by BL's agents like one year ago when the original design was released, this same unit was offered at $266k on the 26th floor, but $305k on 7th floor is too expensive and it does not make any sense for investment purposes, even with very low interest rates, the rental amount you can get for that unit will never cover the costs
 
In view of the heritage designation likely any view he gets may well be maintained, a definate plus. Location fo building. Excellent.
Price: This has been debated alot and I don't think at $667/sq.ft. it makes alot of sense as a rental. To live, another story but you say it is an investment.
Rent based on $2.50/sq.ft would be $1125. Let's assume because of location you can get $1400 for this a very small one bedroom (more like the size of bachelors elsewhere). Taxes:$250/month. Insurance $10/month. Condo fees (based on 45 cents (I am just plugging in a figure) $202/month. Assuming no vacancy and no real estate commission (that your friend will advertise himself) say $10/month(assuming it is $120 for an ad to run a few days): means minimum of $472/month.
Even assuming your friend has 100 percent of the cash: His return is$928/month x 12 or $11136/310000(allowing for his legals LTT and soft closing costs of $10000) is 3.6%. This has assumed pretty ideal conditions: no vacancies, no realty fees, high rent on a sq. footage basis of over $3.00/ft which is beyond C01 non luxury rents presently and there has been no rent increases the past few years.
It better appreciate in value because it is barely a breakeven if he has 3.5% financing or accepts 3.5% on his money and he better hope that interest rates are not up at that point in time or property values down.
If you are speculating about where interest rates or the market will be in 5 years, who knows. Big risk but that is my view only.

Nice breakdown. And I thought about this. I just think the location is top notch, then add the iconic elements of the building and the nice standard finishes (you don't need to spend money on upgrades) I think the unit will go up in value. I think this is the only project out that is worth investing in. Oh well, it's not my money anyways, but nice to get other peoples opinion.
 
It's actually $304900 for that unit on 7th floor. Do not forget that some units were sold by BL's agents like one year ago when the original design was released, this same unit was offered at $266k on the 26th floor, but $305k on 7th floor is too expensive and it does not make any sense for investment purposes, even with very low interest rates, the rental amount you can get for that unit will never cover the costs

Yea, I know....it was selling at $600ft before.
 
Guys, can you please continue this enthralling conversation in the real estate forum?
 
Hey all.... Long time lurker, first time poster.

Took a walk by this site the other night and was really struck by how narrow the lot is. I guess that its only about 3 Car lengths, which is what, 35-40 feet? I don't think the renders give a very good idea of just how skinny a building this will be. I think that this characteristic alone will make it a striking landmark in the same manner that makes 1 King West an iconic skyline addition.

It also seems to be placed directly between RBC and Ritz when viewing from the south which (along with Shangri-La and others
In the area) will have a dramatic effect on the cityscape.

Love this project for what it adds to the skyline, but also for the streetlevel portion which looks to be a really great design with the tri-level podium, setback, and park.
 
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The building will be 62 feet wide.

42
 
Lamb Development Corp and Niche Development are about to make a dramatic statement on the city skyline with Theatre Park, a stunning 47-storey point-tower designed by Peter Clewes of architectsAlliance, in close collaboration with LDC Principal Brad J. Lamb and aA architect Adam Feldmann. Showcasing striking interiors and common areas by II BY IV Design Associates, Theatre Park is set behind a jewel-like forecourt created by Mark Klopfer of Klopfer Martin Design Group (Boston, MA) and Juhan Marten Landscape Architect (Toronto, ON).

Text by Doug Convoy, Illustrations Courtesy of Lamb Development Corporation

Theatre Park occupies a site just 62 feet wide adjacent to the Royal Alexandra Theatre in the heart of Toronto’s bustling theatre district. It is pulled back slightly from King St W, allowing for an intimate, landscaped plaza. The tower podium houses the condominium lobby and an extensive bar area on the main level, a signature restaurant behind a screen of fritted glass on the second level, and a private pool and terrace and amenities area on the third level.

TheatreParkKingStreet.jpg



The general concept for the Theatre Park’s forecourt is that of a giant ball falling from the sky and giving rise to a shallow divot pond where it impacts the ground. A waterfall then is extruded from the pond, alternatively sustaining it or, in winter, transforming into a dynamic sculpture of ice. Six mature trees and a like number of surfaces for seating finish the composition.

TheatreParkWaterfall.jpg



The concept for the plaza extends to the interior, with the ball somehow squeezing through the building’s glazed envelope and coming to rest between the soaring, 25 foot-high bar area overlooking the forecourt and the spectacular condominium lobby and reception area to the rear.

TheatreParkBar.jpg


TheatreParkLobby.jpg



Up one level to the 25 foot-high, + 6,000 square foot restaurant...

TheatreParkRestaurant.jpg



...and up one level still to the private outdoor pool and terrace and exclusive condominium amenities area.

TheatreParkPool.jpg



Theatre Park's east and west façade will be clad either in window wall running continuously behind a steel lattice anchored to the building or curtain wall with the lattice as fritted glass embedded in the glazing system. A decision on this will be made within the next three months.

TheatreParkRooftop.jpg


TheatreParkTower.jpg



Theatre Park contains a full assortment of residences, from studios to penthouses, with the highest level of standard features and finishes in the city. Half of the units are 800 square feet or larger and ten percent are three-bedroom suites. The uppermost storey of the tower comprises a single, 3,400 square foot penthouse. Below that, the number of suites per floor range from two to seven. Ceiling heights vary from nine feet on floors 3 to 35, to ten feet on floors 36 to 46, to eleven feet on the 47th floor. Every balcony up to the 35th floor will have a gas connection and BBQ. There are four levels of underground parking accessed via parking elevators, with 100 parking spots for the 236 suites. Construction is slated to begin in June or July next year.

Theatre Park promises to raise the bar significantly on condominium architecture, interior design, and landscape design in Toronto. UrbanToronto will continue to follow this project with intense interest in the months and years to come. Stay tuned.
 
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Nice development, i counted 20 hi-rise projects in that strech of the entertainment section that are either under costruction or in sales mode and most likely to get build..Insane, i vision that area in 5 years to be just as dense in buildings as CityPlace.
 
Nice development, i counted 20 hi-rise projects in that strech of the entertainment section that are either under costruction or in sales mode and most likely to get build..Insane, i vision that area in 5 years to be just as dense in buildings as CityPlace.

i was thinking the same thing. i'm sure that once developers think they've used king street as much as they can in afew years they'll start super developing some other street with tons of new projects, i wonder what it'll be??
 
i was thinking the same thing. i'm sure that once developers think they've used king street as much as they can in afew years they'll start super developing some other street with tons of new projects, i wonder what it'll be??

I think Yonge st, the area from College to Bloor.
 

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