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CITYPLACE LAUNCHES N2 FOLLOWING
IMMEDIATE SELL OUT WITH N1 |
I'm continually being asked
how the Toronto condo market is at present. Last year, a continuum of newspaper articles
pronouncing "A Bubble About To Burst" with respect to condos, caused a whole lot
of people a whole lot of undue stress.
Late in the year last year they had to capitulate and admit that not only was there
"Not A Bubble About To Burst" as a result of almost a year of record breaking
sales in the resale market as well as in new housing starts.
Here is an excellent example of how to be successful in developing condos. Concord Adex
Developments has introduced a winning formula for rolling out "Good Value" (not
marketed or sold as "Luxury Residential Condos" - many other developers
consistently market their products as so but end up delivering something that is a far cry
short) Condominiums that embody the concept of Condo Living.
You see condo living was never meant to be limited to a housing alternative. Condos were
designed to deliver a lifestyle choice where your residential, recreational and many times
business needs and desires are met.
Each Cityplace (go to footprint) development to date has met this challenge admirably. I
admit, I was one of the slow Realtors buying into the Cityplace (go to  footprint) story. After all, the developer was from Vancouver (an outsider of
whom I knew virtually nothing) and I had heard of leaky condo nightmare stories out there
and concluded that I would just hold off and see what developed.
In 2000, the sales site opened announcing the arrival of this mega project to encompass
the old railroad lands that had remained vacant ever since I got into the business in
1981. The first towers to launch were "Matrix", a two tower development
at the corner of Blue Jays Way and Front Street in the heart of downtown immediately at
the north entrance to the Toronto Sky Dome. Building A, with 308 suites occupied in April
2002 and Building B with 344 suites in March 2002.
This building boasted excellent recreational facilities. Shortly thereafter came Apex, another 2 tower development with
264 suites in the east tower occupying in January 2003 and the west tower (366 suites)
immediately following in February 2003. An expansion bridge connects the four towers
enabling residents of Apex to use the comprehensive facilities in Matrix and visa versa
(Apex has indoor tennis, swimming pool, badminton, and a private spa).
 Optima, the third development in
Cityplace is a single tower of 397 suites and occupied in 2003. Optima also has great
facilities (24 hour concierge, full size swimming pool, billiards room, exercise room,
etc.).
Harbourview Estates is
presently under construction consisting of four high-rise condo towers, a loft building
and recreational amenities that may knock your socks off! Harbourview Estates offers a
total of 1,635 suites. The Super Club Recreational Centre is approximately 30,000 square
feet of the best amenities that I've seen in a condo.
With nine (9) high-rise residential condominium towers, plus mid-rise condominiums and 100
Townhouses, a new Community Centre, Library, Park, Elementary School and Daycare Center,
it's obvious that we are going to see a whole lot more of these highly successful
"Lifestyle Condos" for years to come.
What they are doing for the panorama of the city skyline will be incredible and where this
city of high-rises within the city winds itself out down near Bathurst Street they will
link up with another string of residential developments winding right up to the Canadian
National Exhibition Grounds forming a threshold of glass pillars leading from the core's
west end right down into the heart of the city. It certainly will enhance the drive along
the Gardner! The latest Cityplace development to launch is N with N1, consisting of the
lower half of the building selling out in about 2 days! So, is the market HOT? I'd say so!
I've recently watched lots of lesser condos (lesser name developers, lesser locations,
lesser amenities, lesser quality finishes, etc.) that actually sell for more sell at the
same tempo recently. Last week I attended a lesser condo development on Bay Street where
they held an "Animal House" Broker's Event where they invited Brokers in for a
FREE luncheon (that gets them to attend every time) where they launched the second tower
of their double tower development having sold the first tower out ahead of schedule.
My concerns with that developer is that, in spite of having glitzy colour wall murals
showing beautiful building that they've "done" (I've recently learned how
creative and flexible developers are being these days to support what "done"
might mean) only to realize that NONE of them exist yet. These developers are
entrepreneurs who have jumped in while the market is hot but who have not been able to
show any track record in completing and getting registered their buildings.
We have a flagrant case of developer abuse going on in Toronto right now where one
developer is over a year late is delivering Registration on a building that they sold and
have been over eighteen months late delivering! The gamble that a buyer is taking when
buying into a presale development is so great that you can end up with headache
principally because of inexperienced and/or unethical developers promising that they can
deliver (using misleading advertising like showing strings of completed buildings when
they are not yet built as credibility).
I mentioned earlier that I have a legal obligation to protect the interests of my Buyer
Agency Clients thus I prefer to rest on credentials over glitzy marketing. That's why I
held off on Cityplace for so long, I wanted to see the finished product and see them carry
the process through to Registration. I've watched them consistently Register their
buildings in approximately 4 months which is about as quick as a developer can get it
after occupancy.
Now, I finally ready to get involved and recommend to my clients this excellent proven
investment. Concord Adex has come up with a mathematical formula that works for small
investors interested in earning sizeable returns through investing in downtown core
condos.
To revert back to Matrix, for
example, I bought resale units once it was built (I did not recommend buying from presale
as outlined above as I wanted them to prove themselves). Investors had purchased small one
bedroom units at approximately $150,000 putting down three installments of 5% ($20,000
roughly over about a year) and then waited for 2 years for the building to be completed. I
was buying or more accurately "Assigning The Agreement of Purchase and Sale" on
my client's behalf (we could not buy as the building was not registered yet) these very
same one bedroom units at $210,000, showing a $60,000 profit to the investors (300% cash
to cash). Returns were greater on larger suites and I've watched these results be
consistently achieved on each and every building that they have completed.
 N2 will undoubtedly SELL
OUT consistent with the success of N1
which was 2 days! I have been invited to bring in clients on April 22nd for a ONE DAY ONLY
"EARLY BIRD PURCHASING OPPORTUNITY" where you can receive preferred prices on
suites as well as receive a FREE 42" SAMSUNG PLASMA T.V. (including delivering within
GTA)!
So, if you are looking for an excellent condo investment opportunity be sure to Register
with me immediately and schedule to attend with me on this ONE DAY ONLY EVENT. I have to
Register your name as coming with me no later than April 20th so please REGISTER WITH ME
TODAY or call me at 416-783-5000.
Be sure to check out the floor plans now and let me know what suite(s) you are interested
in. |
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REGISTER
TODAY
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