Well, Happy New Year! As promised last year, I’m posting a market update to kick off the new year. Last year a frustration from consumers was identifying what properties worked for them with respect to timing.

As many of you are aware, the condo market is a highly specialized area within the profession of real estate. Probably not the best area to invite cousin Suzy (who just got her real estate license) to earn a quick commission.

In resale houses, every one is unique thus cousin Suzy has exactly the same ability to search out and find qualifying properties as any one of the other 19,000 practicing Realtors that make up the Toronto Real Estate Board.

With condos, it’s a whole new world. Your Realtor (“Buyer’s Agent”) has absolutely GOT to know the market. There is a full complement of options when it comes to buying a condo in Toronto with corresponding construction quality issues, board issues, legal issues, etc. necessitating your Realtor to have specialized expertise.

Having sold my first condo in 1982 while working for the Reichmann Family selling the prestigious (still) Queen’s Quay Residences on Toronto’s harbourfront, I bring unique knowledge of the market, the industry and the concept of condominium living. I also bring unique negotiating skills and apply them totally to protecting the best interests of my clients (“BUYER‘S ONLY“).

There are various generations of condos in Toronto. As a rule of thumb, the newer the building the smaller the living space. When I started in the business (almost 3 decades ago) a two bedroom condo was over 1,200 square feet and buyers continually expressed concerns about living in such small space. Today, 750 square foot two bedroom condos are commonplace (certainly reflective of price)!

The market is just risen to $400 per square foot for upper middle market condos (Elev‘n 21, 85 Bloor) although there are some very good buys right now still under $350 per square foot (won‘t last so contact me right away). Luxury buildings are running around $500 per square foot (33 Delisle, Park Avenue, ). Older generation buildings (8 foot ceilings - buildings more than 3 years new) can still be bought at around $300 per square foot.

Not all condos are alike and not all of these developments do I endorse! They are appearing here specifically to give my clients and visitors to my site sufficient knowledge to make their own informed decisions (the first of which is to use me to buy, I hope). Certainly, anything that I do endorse and/or recommend is here but I would advise you to contact me prior to forming any conclusions or even starting your research (preferably - I still get hastles from developers who continue to have people visit their sales sites and “Register“ with them while intending to use my FREE services.

Please understand that the only compensation I receive in maintaining this website and gathering and publishing all of the meaningful material that you find here is from Buyer Agency Fees that the developers agree to pay 100% of, providing you go through me prior to registering with them. It’s simply, once you register with them they will not cover our fees to negotiate on your behalf. Register with me and I’ll visit the site with you and you are 100% in the driver’s seat. Register with them first and for me to represent your interests you would have to face the conventional fees paid by the developer.

These fees in no way affect your purchase price as the developer budgets his costs prior to setting out and my fees are simply underwritten as a cost of sales. Many prefer that you come through an “agent” (like me) providing he/she understand the complex process. Too many times Realtors become antagonistic with the sales site people through lack of understanding of the nuances surrounding condominiums and the Condominium Act.

For your convenience I’ll categorize the “new condo market“. Although there is always demand for older buildings (due somewhat to size considerations and cost per square foot) in this publication I’ll address buildings that realistically can constitute the “New Condo Market” in the downtown core.

I have full database access to condos in every community within the Greater Toronto Area (“GTA”) and am happy to assist you if you are interested in any of these communities of condos. You will find complete information on these supplemental condo markets in the Toronto (GTA) area however here, I’ll be dealing with the area in which I specialize in (“the downtown core” - basically “Uptown starting just north of St. Clair Avenue to the harbour between Sherbourne and King West Village).

This category shows you buildings that have been completed and occupied within the past twelve months. If you are looking to live in new construction, this list will show you where to start:

8 Park Road (Bloor East adjacent to Yorkville)

10 Bellair (Yorkville)

10 Old York Mills (York Mills)

20 Collier (Yorkville)

33 Delisle (Uptown)

43 Eglinton E. (Midtown)

77 McMurrich (Yorkville)

99 Avenue Road (Yorkville)

123 Eglinton (Yonge/Eglinton)

Alexander (Downtown East)

Apex at City place (1 & 2) (Entertainment District)

Bellagio on Bloor (Bloor East)

Charlotte Lofts (Entertainment District)

Domus in Yorkville (Yorkville)

Electra Lofts II (King West Village)

Elev’n21 (Yorkville)

French Quarter (St. Lawrence Market)

Georgian Lofts (St. Lawrence Market)

Governor’s Hill II (York Mills)

Graphic Arts Building (Financial District)

Hillside II (York Mills)

Icon I (Entertainment District)

Icon II (Entertainment District)

Matrix at Cityplace (1 & 2) (Entertainment District)

Maxus in Yorkville (Yorkville)

Merchandise Building IV (Downtown East)

Morgan (Entertainment District)

Mozo (St. Lawrence Market) (Entertainment District)

NY Towers (I, II, III, IV - surrounding area)

Optima at City place (Entertainment District)

Phoebe On Queen (Phoebe - Entertainment District)

Phoebe On Queen (Soho - Entertainment District)

Phoebe On Queen (Beverly - Entertainment District)

Pantages (Entertainment District)

Park Avenue (Uptown - Yonge/St. Clair)

Riviera (Harbour)

Soho Grand Hotel (Entertainment District)

St. Clair (Uptown - Yonge/St. Clair)

Thornwood I (Summerhill)

Waterclub I (Harbour)

As any knowledgeable condo buyer knows “believe nothing that you hear and half of what you see and you’ll be alright”. As a Buyer’s Agent I am limited to the representations made by developers regarding delivery dates, etc.

Know that it takes a minimum of two years to build a multi-level residential condo building. The following are condo developments that have at least dug the hole (foundation/footings) thus at some point within the next couple years many of this will be occupied.

The Hudson, for example was scheduled for a spring of 2005 delivery when I bought and over a year later prior to construction even starting (can’t blame it on construction strikes as usual) the arbitrarily changed the date to fall of 2006. All of my deposits have been cashed so now that I and a lot of others have believed what was represented to us we find out (we were never even told of this delay) that we are in a position whereby we have no choice but to just sit and wait.

I purchased in Park Avenue and that was over a year and a half late! 5 King St. West is almost 4 years late!

This is not to point out a select few developers or developments (I am so impressed with Park Avenue that I am not even upset about having had to rent for 14 months - if they just would have told me up front I would have made better plans but they always just give 2 months notice when delaying). Hudson is by my estimates the best presale to come along in a long while so I’m not upset about the delay other than to observe that it seems to be an arbitrary delay with little or no consideration to buyers who were selling existing properties and renting until this building was delivered.

The more buyers get together through a rare venues like simplycondos.com the more buyer clout can be achieved. I strongly recommend that you register with simplycondos.com and undertake to NOT VISIT CONDO SALES SITES WITHOUT ME BEING THERE WITH YOU!

We are building a Buyer’s Resource that, due to collective strength will negotiate better prices, terms and conditions. For those of you content to walk in off the street to sales sites and try negotiating your own purchase, you are voluntarily selling yourself short. When my services are FREE (providing you don’t register with sales sites first) why would you not take advantage of my experience in negotiating your purchase.

Here are the condos presently under construction (occupiable within the next 2 years):

1 King West (Financial District)

18 Yorkville (Yorkville)

18 Yonge (Harbour)

85 Bloor St. E.

Azure at Waterclub

Bloor Walk (Bloor East Corridor)

DNA I (“Downtown’s Next Address I”)

DNA II (“Downtown’s Next Address II”)

College Park I & II (Bay Corridor)

Harbourview Estate (Entertainment District)

High Park Condominiums (High Park/Bloor West Village)

Hillside III (York Mills)

Hudson (Entertainment District)

King's Court (St. Lawrence Market)

LTD (Dowtown East)

Skyline Cosmopolitan Hotel ( Financial District)

One City Hall (Bay Corridor)

Opus Tower (Entertainment District)

Radio City (Downtown East)

Residences at 9 Jackes (Summerhill)

Spire (St. Lawrence Market)

Thornwood II (Summerhill)

Tip Top Lofts (Lakeshore)

Townhomes of Hoggs Hollow (York Mills)

Waterclub II (Harbour)

Villas at 18 Yorkville (Yorkville)


WHAT’S COMING

Following are condo developments that are still in the development stages or who simply have not started construction yet.

Again, this is not a comprehensive list of Toronto condos as there are actually very few that I endorse. This list is to give you an idea on what’s coming down the road (long term and short).

St. Thomas (Yorkville)

The Regency (Yorkville)

Hotel Condo (Yorkville)

Condo & Townhouses (Yorkville)

The Pierre (Yorkville)

Domus Site (Yorkville)

Pinnacle (Harbour)

Quad (Entertainment District)

The Russell Hill (Uptown - St Clair)

Tip Top Tower (Entertainment District)

Festival Tower (Entertainment District)

CityPlace West (Entertainment District)

If a condo development that you are thinking about does not appear here I would advise that you contact me and see if there is a reason that it did not meet my list. I try to be comprehensive but I only include buildings that I would recommend you buying in. Please check with me first. I respect that there will be some that I have overlooked and would not want my busy schedule to form a ill-based conclusion over my having missed a development.