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Monthly Archives: August 2012

The Britt Condos

Introducing The Britt Condos- designed for those with a passion for the finest things in life, British-inspired architecture, with interior design and amenities that surpass European standards. The Britt Condos is where classy meets classic and historic meets epic. Situated at Bay and Wellesley, and injecting new life into the legendary Sutton Place Hotel, The Britt is steps from Bloor Street with its world famous “Mink Mile“, and the allure of Yorkville with its restaurants, boutique shops and services. The financial district and downtown core and only a bus ride down Bay, and the subway is just around the corner.

The Britt Condominium Residences will ultimately consist of a soaring 41 storey residential tower along Bay Street with a separate 8 storey wing that fronts on Wellesley St. Munge Leung-designed amenity spaces include the elegant 2 level lobby with grand staircase providing many lounging opportunities over looking Bay Street.

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Features & Finishes

BUILDING FEATURES

  • Grandly designed two storey level entry lobby
  • Second storey lounge areas
  • Seven elevators. Each floor served by at least two elevators
  • One shuttle elevator providing service between the entry lobby and the parking levels
  • Indoor Amenities on Second Floor:
  1. Multi-purpose party room with kitchen facilities
  2. Home Theatre Room
  3. Sundry Lounge Areas
  4. Management Office
  5. Furnished Boardroom
  6. Storage Room
  • Outdoor amenities on the Second Floor
  1. Furnished Lounging Areas with Barbeque Services
  2. Exterior Fireplace
  • Fitness/Spa Facilities on the Second Floor
  1. Equipped Fitness Centre
  2. Men and Women Washrooms and Change Rooms,
  3. Yoga/Aerobic Studio
  4. Spa Facility with Hot-Tub Spa, Dry Sauna, Bathrooms, Showers, and Relaxing Lounge
  5. Lounging Outdoor Terrace
  • Ninth Floor Amenity Facilities:
  1. Outdoor Pool, Hot-Tub and Lounging Areas
  2. Party Room and Kitchen facility
  3. Outdoor private lounging area with individual Barbeque stations, central fire place and landscaped lounging areas
  • 24 Hour Concierge
  • Pet Spa
  • Individual storage/bicycle lockers**
  • Auto share parking spaces

SUITE FINISHES

  • Approximately nine foot ceilings in exterior part of units facing Bay Street from Floors 3 to 31
  • Approximately nine foot ceilings in units on floors above 31 ****
  • Approximately nine foot ceilings in units facing Wellesley Street from Floors 2 to 8****
  • Exterior glass sliding doors***
  • Solid core entry door with hardware and security viewer
  • Choice of multi strip engineered hardwood flooring, porcelain or ceramic in entry foyer
  • Multi strip engineered hardwood flooring in den, living rooms, dining rooms and halls***
  • Individually controlled heat pump heating and cooling system
  • 40 Ounce broadloom and upgraded under pad in bedrooms***
  • Sliders or hinged doors on closet doors***
  • In-suite smoke detector
  • In-suite carbon monoxide detector
  • Laundry with stacked washer/dryer vented to exterior
  • Ceramic flooring in laundry area
  • Interior walls painted off-white quality latex*

KITCHEN

  • Choice of multi strip engineered hardwood flooring, porcelain or ceramic flooring*
  • Selection of designer series kitchen cabinetry*
  • Granite countertop*
  • Designer series ceramic tile backsplash*
  • Stainless steel sink with single lever faucet and pullout vegetable spray***
  • Integrated refrigerator and dishwasher, cooktop, stainless steel wall oven, stainless steel built-in microwave and stainless steel integrated slide-out exhaust hood
  • Ceiling mounted lighting fixture

MASTER ENSUITE BATHROOM

  • Choice of marble, porcelain or ceramic flooring* ***
  • Medicine cabinet **
  • Marble countertop with ceramic basin*
  • Safety pressure-balancing valve in tub**
  • 5’ soaker tub or shower with glass panel with chrome faucets***
  • Designer selected white plumbing fixtures**
  • Designer selected cabinetry*
  • Choice of marble, porcelain or ceramic wall tile in tub or shower area ***
  • Exterior vented exhaust fan
  • Entry privacy lock
(Note: In units with one bathroom, the bathroom will be outfitted with ensuite bathroom finishes.)
  • Choice of ceramic or porcelain flooring* ***
  • Laminate countertop with ceramic basin*
  • Safety pressure-balancing valve in tub**
  • 5’ soaker tub or shower with glass panel with chrome faucets***
  • Designer selected white plumbing fixtures
  • Designer selected cabinetry*
  • Choice of porcelain or ceramic wall tile in tub or shower area ***
  • Exterior vented exhaust fan
  • Entry privacy lock

ELECTRICAL FEATURES

  • Rough in ceiling light outlets in dining room
  • Lighting fixtures in bathrooms**
  • Lighting fixture in hallway
  • Cable television outlets in den, living room and master bedroom**
  • Telephone outlets in living room and master bedroom**
  • Service panel with circuit breaker

SECURITY FEATURES

  • 24-hour Security cameras in select garage/parking areas
  • Concierge
  • Closed circuit camera monitoring at select building entry points
  • Electronic communication system in lobby vestibule permits visitors to communicate with suite from building entrances

ENERGY EFFICIENCY FEATURES (3)

  • Energy Star appliances
  • Dual flush toilets
  • Energy efficient light bulbs
  • Water conserving faucets
  • Individually metered hydro
GENERAL
Please see provisions in Schedule A relating to Purchaser’s rights to select finishes and Vendor’s rights to install substitute materials and finishes
* Colours and/or materials to be selected from Vendor’s standard sample packages, as provided for below. Vendor shall not be responsible for shade differences occurring from different dye lots.
** If applicable
*** As per plan
**** Except bathrooms, laundry, bulkheads and drop ceilings for mechanical systems, as required
(1) The Vendor shall have the right to make alterations to the selection and specifications relating to Energy Efficient Features. Dated: June 5th, 2012

PLATINUM VIP AGENT INCENTIVES:

1% Discount off the Suite Price

$2000 Cash off Certificates

$2000 towards Upgrades

$0 Assignment Fee – Regularly $5000

Prices Starting from $274,900

Deposit Structure

  • $2,000 with the offer
  • Balance to 5% in 30 days
  • 5% in 120 days
  • 5% in 270 days
  • 5% on occupancy

Off-Shore Deposit Structure

  • $2,000 with the offer
  • Balance to 7.5% in 30 days
  • 7.5% in 120 days
  • 7.5% in 270 days
  • 7.5% on occupancy

Projected Occupancy Date: Spring 2016

Estimated Taxes: Approx. 1% of Purchase Price

Maintenance: Approx. $0.60 per sq.ft. + Hydro

Parking: $45,000 (available for suites 790 sq.ft. or larger)

Locker: on waiting list only

The Britt Residences Price List & Floor Plan Available only upon request.

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Centro Square Condos

Centro Square Condos, Liberty Development’s newest condominium development. Centro Square Condos Ideally situated in the heart of Vaughan, at the corner of Highway 7 and Weston Road. Centro Square will add a thriving residential community to one of the 905’s most dynamic commercial/retail corridors. Located at the former site of the iconic Al Palladini car dealership, Centro Square Condos will give purchasers unequalled access to the hundreds of stores, restaurants, cafes and offices that sit adjacent to the site (along both Highway 7 and Weston Road).

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Well served by public transit (with a planned subway extension coming soon), the location is centrally located between Highways 407,401 and 400, which, makes getting anywhere in the GTA by car, VIVA or TTC a dream.

Set on a prime site, the mixed-use Centro Square development will consist of two residential towers joined by a podium, over 100,000 sq. ft. of office space, and approximately 162,000 Sq.Ft. of retail.

Designed by the award-winning teams at Kirkor Architects, and Hefele Makowka Design Associates, Centro Square Condos will, in itself, become of one of Vaughan’s newest destination developments.

Priced from the mid-$200’s, the first residential tower will stand 33 storeys and have 445 suites. Each unit will boast a range of contemporary features and finishes, including nine-foot ceiling heights, balconies and walk out patios (on “garden level” suites).

Featuring modern, functional kitchens, each offers granite countertops, European-style cabinetry, ceramic tile backsplashes and a stainless steel appliance package. Bathrooms will boast marble countertops, ceramic tile floors and tub surrounds, recessed cabinetry in the master bath, and a white acrylic soaker tub.

Rich with amenities, Centro Square Condos will offer residents access to a media room, yoga studio, party room, swimming pool with whirlpool, exercise room, golf simulator and multi-purpose room.

Centro Square Condos Tower A VIP Price List & Floor Plan Available Upon Request

Deposit Structure:

  • $5,000 with Offer
  • 5% less $5,000 in 30 Days
  • 5% in 90 Days
  • 2.5% in 270 Days
  • 2.5% in 360 Days
  • 2.5% in 600 Days
  • 2.5% in 720 Days
  • 5% Due on Occupancy

Parking:

$28,000 per spot (HST inclusive)

Monthly Maintenance Fees2:

$0.49/Sq. Ft., plus Hydro (metered separately) for each individual unit consumption)

Estimated Taxes4:

1% of purchase price per year

Tentative Occupancy4:

September 30, 2015

Floor Premiums: Floor Price Increments vary. Please consult the sales consultants for details.

Suite Features3:

  • Granite kitchen countertops
  • Marble or granite bathroom countertops
  • European-style kitchen cabinets with 36″ uppers
  • Ceramic tile backsplash
  • 4 stainless steel appliances plus washer and dryer (white)
  • Laminate flooring in foyer, kitchen, living/dining room, den & bedrooms (if applicable)
  • 9′ Ceilings

Building Amenities3:

Party Room and private membership in Club Liberty, which includes, exercise room, Multi-Purpose Room, Media Room, Yoga Room, indoor pool, whirlpool, sauna and change rooms, card room, golf simulator, and outdoor green rooftop terrace

Number of Suites: 652

Number of Levels: 33

1Prices and availability subject to change without notice. All areas and stated dimensions are approximate. Actual living area, usable floor space and square footage may vary from stated floor plans. All prices, figures, sizes, specifications, information and choices of vendor’s samples are subject to change without notice.
2Maintenance fees and taxes are approximations/estimations only and are finalized on condominium registration.
3Per Condominium Disclosure and subject to feature and finishes sheet Notes, vendor’s plans and vendor’s samples.
4As per respective Agreement of Purchase and Sale.
©Liberty Development Corporation, 2012. All rights reserved. Brokers Protected. E. & O. E. August 02, 2012.
 

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TD matches RBC’s five-year fixed

It’s a rate war in reverse, with TD following RBC’s decision to set a five-year fixed well above the broker’s best.

Earlier this week, TD brought the rates on both its three- and five-year fixed mortgages in line with RBC, introducing a special on its own five-year equal to RBC’s 3.69 per cent.

The country’s biggest bank made its move on Tuesday, announcing that it has bumped up its five-year-fixed by 20 bps. The decision has been viewed by some industry players as a win for brokers and mono-lines.

“Brokers could use these rate hikes to their advantage for the next two weeks or at least until other lenders decide to raise their rates also,” said Kunal Bhalia, broker with Dominion Lending Centres – Mortgage Village.

Still, none of the other Big Six members appear to have followed suit.

A quick check of the bank’s websites today indicates that CIBC, BMO and National Bank are offering their three-year-fixed at 3.95 per cent and five-year-fixed is 5.24 per cent. However, BMO also offers five-year fixed at a low rate of 3.29 per cent.

Scotia’s three-year-fixed mortgage is 3.99 per cent and its five-year-fixed is 4.99 per cent. The bank has a special offer of 3.99 per cent on its five-year closed-term fixed mortgage.

There are a number of mortgage rates lower than what banks have posted, suggesting brokers increasingly face a hidden rate war – one without the kind of bank advertised rates that encourage fence-sitters into the market. Source: Brokernews

 

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Projects/units available for occupancy

Projects/units available for occupancy.

So this chart places each GTA condo project in the month/year of its actual (July 31, 2012 and earlier) or scheduled (August 1, 2012 or later) occupancy date.

Each square represents one building and the size of that square represents the number of units in the building. The colour of each square corresponds to the year that building starting selling (ie Opening Date) and it’s all plotted against the average initial asking price/sf ($/sf) for the building.

Here’s the chart….

This type of chart can be used to learn many things, especially as you drill down into specific geographic areas. However it is quite useful as an overview of projects working through the long delivery pipeline of many years from launch to construction start to occupancy and subsequent closing.

For instance the projects that have occupied, or are scheduled to be occupied (many will be delayed), in 2012 had opening dates ranging from 2007 through 2010 and had an average initial price of $442/sf at opening. The current RealNet Price Index of $542/sf, but the majority projects opening this year – and contributing to today’s price index – are not scheduled to be occupying until 2015 or 2016.

An understanding of today’s new home market requires a look at both ends of the delivery pipeline as typical metrics like sales price and number of starts must now be viewed with the perspective of completions and occupancies.

Source: Realnet.

 

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Built entirely from recycled materials

Built entirely from recycled materials, these two homes bring a whole new meaning to “going green”.

The first home is located in Argentina and is made from plastic bottles. According to Tree Hugger, the walls have over 1200 PET bottles and the ceiling has more than 1300 Tetra Pak cartons.

The house is built by Alfredo Santa Cruz and his family. Cruz said that “domestic waste can be transformed into useful stuff. We developed our own technique, which allows people to build a house that’s perfectly functional at a very low cost and with their own hands. This is not just a project, but a reality.”

And, that reality is pretty darned impressive.

The second home is located in the Czech Republic. It is made out of entirely recycled materials, and was built on the site of an existing barn. According to InHabitat, “The brief for the Conceptual Object in Vernerice called for an inexpensive and energy-efficient  house with a small environmental footprint.”

Check out the neat pictures of these “recycled” homes below:

A peek inside the “pop bottle” walls.

A close look at how the pop bottles are stacked to create the structure.

Despite the recycled materials, this home has a rustic feel.

The recycled materials helps this home blend into its surroundings. Source: Buzzbuzzhome.com

 
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Posted by on August 24, 2012 in Built entirely from recycled materials

 

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No sharp dive in housing market says CIBC economist

According to a top CIBC economist, suggesting the anticipated housing decline will not be as sharp or as long as earlier projected because of immigration.

“It turns out fears of a long and sharp downturn in the housing market, are highly exaggerated and very premature,” said Benjamin Tal, deputy chief economist at CIBC. “In fact demographic forces will be supportive to real estate markets in the coming decade.”

Tal predicts immigration, which is responsible for most of the population growth, will be a major force impacting housing demand.

“What’s more, there is significant jump in the home ownership rate among immigrants as they pass the three-year mark,” said Tal. “In fact, after 10 years in Canada, the propensity among immigrants to own a house is higher than among native Canadians.”

While there will be a decline in the number of Canadians under the age of 25 and those between 45 and 54, those age groups account for a relatively small portion of home buyers, Tal writes in his latest Consumer Watch report.

By contrast, the number of Canadians between the ages of 25 and 35 – the age group that makes up the vast majority of first-time home buyers – will continue to rise, the report said.

“From a housing market perspective, what counts is not only the change in population of a given age group, but more importantly, the level of housing market activity among these groups,” said Tal. “In other words, the group that is most likely to buy a house will grow faster in the coming decade.” Source: Brokernews.ca

 
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Condo Prices Grow at Moderate Pace in Q2

Condo Prices Grow at Moderate Pace in Q2

July 18, 2012Greater Toronto REALTORS® reported 6,435 condominium apartment transactions during the second quarter of 2012 – down by 2.6 per cent compared to 6,609 transactions reported in the second quarter of 2011. New listings for condominium apartments were up substantially on a year-over-year basis, climbing by 19 per cent in comparison to 2011.

“The condominium apartment market has been the best-supplied market segment in the GTA this year. Many condominium projects have completed over the past year and this has resulted in a substantial increase in listings and ultimately more choice for buyers,” said Toronto Real Estate Board President Ann Hannah. “The greater degree of choice in the condo market translated into a moderate rate of price growth compared to what was experienced in the low-rise market segment.”

The average price for second quarter condominium apartment sales was $342,212, representing a 3.2 per cent increase over the same period in 2011.

“Sellers seemed to be well-aware of condo market conditions in the second quarter. On average, units were priced in line with buyer expectations, with apartments selling for 98 per cent of the asking price in less than a month’s time,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. 6,435 6,609 Second Quarter 2012 Second Quarter 2011

 

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