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GREAT
GULF'S "THE WINSTON" FOLDS C. L. Hanes, May 1, 2005
Great Gulf Homes pulled out of it's upscale residential development "The
Winston" after almost a year of selling that resulted in just under 50% of the units
being purchased.
The media doesn't announce these set backs and continues to sell a perspective based on ad
revenues. You just can't research the market on your own as there really is only one (this
one) venue that reports objectively. I'm not dependent upon ad revenues to operate this
site.
Great Gulf Homes is a pre-eminent local company with a highly respected track record in
delivering quality residential houses and more recently high rise condominiums. The
upscale Winston was one that I felt was a "winner" but in the complex world of
luxury residential development, it simply failed to offer the flexibility required to
ultimately market and sell homes of this stature.
It is extremely difficult to be successful developing "true luxury" residential
developments offering only Million Dollar homes. Very few developments in the city other
than, (for example) The Windsor
Arms, 9 Jackes, 33 Jackes, 70 Rosehill, etc., have been
successful shooting for such elite communities. Obviously there are buyers for these $800
- $1,000 per square foot ($1/sq.ft. maintenance) residences as The Winston sold nine or
ten of eighteen before pulling out (I noticed a for sale sign on the property last week).
Recently a unit in 70 Rosehill
(long on of the city's most prestigious addresses) was Listed on mls at $1,000,000 and
sold within days at $1.5 Million! 70 Rosehill is great but it's
older and the units usually need renovating.
With quality "true luxury" residences scarce in the area, buyers (myself
included) are turning to The
St. Clair On The Avenue, a presale intimate collection of only Twenty (20) distinctive
residences ranging from 1,315 square feet to an elegant 4,000 square foot Penthouse.
St. Clair On The Avenue
is uniquely qualified to represent itself as THE COMPETITION to The Winston had the
Winston prevailed. With it now gone, I anticipate the remaining units in St. Clair On The Avenue to
be quickly snapped up.
If you are looking for a true luxury residential condo in the city's most sought after
area, please contact me directly by email or
phone. I look forward to hearing from you. |
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Charles Laurie Hanes 416-783-5000
Sutton Group Tower Realty Inc.,
Broker
3220 Dufferin, Toronto, On, Unit 7A
simplycondos@gmail.com
This site is not
intended to solicit properties already listed for sale
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