The Place: A one-bedroom unit on two levels with original oak floors, brick walls and exposed wooden beams. It’s one of 11 condos in the Boiler Factory Lofts on Queen Street East.
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The Place: A two-bedroom suite on the 14th floor of The Avenue, a high-end building at Avenue and St. Clair.
The slew of five-star hotels that popped up downtown in recent years did more than increase Toronto’s appeal as an tourist destination. They also upended the city’s upscale condo market. The high-end residences have stacked amenity lists (with steep condo fees to match) that appeal to jet-setting business-types accustomed to all the conveniences of hotel living and wealthy A-listers with a love for high-profile luxury brands. From a party-ready suite in the Thompson to a unit in the Four Seasons with incredible views, we break down five of the units currently on the market.
The Place: A two-bedroom, three-level unit on the top floor of the Tecumseth Lofts, a former commercial warehouse divided into 28 units in 1999.
Finance Minister Jim Flaherty’s new mortgage rules sparked a rapid decline in home sales and reinforced just how central regulations are to housing markets. Below, we unpack three recent stories about navigating the regulatory landscape, covering everything from rent controls to tax breaks.
The Place: A two-bedroom corner penthouse in The Verve lofts, a mid-rise building attached to a condo tower with a rooftop pool.
The Place: A two-bedroom residence on the third floor of the Museum House, a building aptly named for its proximity to the Royal Ontario Museum, the Bata Shoe Museum and the Gardiner Museum.
Real estate commentators usually reach for sales figures and average prices to explain what’s happening in the market, but there are a ton of other figures that are equally illuminating. This week, we’ve seen stories about the number of new condo projects in Toronto, the amount a typical first-time buyer is planning to pay and more. We round up the notable numbers below.
The number of so-called “hard lofts” in Toronto has ballooned since the early 2000s as developers wised up to the moneymaking potential of turning old factories and warehouses into residential units. True loft conversions have an artsy vibe that’s nearly impossible to imitate, and some buyers feel they’re a smarter investment than new builds because supply is, in theory, limited by the number of available buildings to convert. Even would-be loft owners with sub-$1 million budgets can find a range of options: some units maintain the original raw, industrial feel, while the rough edges on others have been smoothed away (some repurposed buildings are even packed with luxury amenities). Below, five recently-listed hard lofts from across the city.
The Place: A two-level penthouse in the Schoolhouse Lofts, a 19-unit building that was previously home to Loretto College girls school. (We featured a neighbouring suite last year.)
The buyer: Abeer Islam, a 29-year-old music producer and owner of Ivory and Hammer Music House.
The story: Two years ago, Islam bought his first home, a 600-square-foot one-bedroom loft at Bathurst and Queens Quay. It was a bargain at $260,000, but the layout was highly impractical: there was no separation between his living space and his home studio. When friends came over, they’d often end up sitting on his expensive recording equipment. Last year, he decided it was time to upgrade. He hoped to find a two-bedroom place, preferably in a west end neighbourhood with good resale potential, for less than $350,000. His six-month search took him all over the city and ended in a place he never expected.
The Place: A three-bedroom, two-level unit in the Abbey Lofts, a former Methodist Church converted into 24 residences in 2008.
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