The Place: A two-bedroom unit on the first floor of a mid-rise building at the end of a quiet cul-de-sac.
—The percentage of Toronto condos that are owned by foreign investors, according to a new report from the Canada Mortgage and Housing Corporation. The actual rate of foreign ownership has long been assumed to be much higher, though, and it’s not clear how accurate this new number actually is. The CMHC didn’t use hard data—which, for this type of thing, is difficult to come by. Instead, the agency polled a representative sample of building owners and managers.
Tower of Power: who lives where at One Bedford, the new downtown address of choice for uptown potentates
In the three years since it was completed, One Bedford, the 32-storey monolith above, has become de facto HQ for tastemakers in business, media, arts and politics. Chalk it up to its location at the nexus of three high-rent neighbourhoods, which allows residents to self-identify as posh Yorkvillers, U of T brainiacs or quinoa-munching Annexers as needed. One of the latest big-name tenants to join the party is the mayor. Here’s who he calls neighbour.
The Property: This completely renovated, four-bedroom detached home has contemporary finishes throughout, a modern kitchen with custom counters and a third-floor master bedroom with an en suite. The self-contained basement suite shares the rest of the home’s modern aesthetic, but has its own entrances.
The Property: This modern home, which has yet to be built (the photos that accompany this article were taken inside a model home with an identical layout), will span 3,800 square feet of big rooms, massive windows and a finished basement.
The Place: A two-level unit in the Creed Building, a former fur storage facility that was converted to lofts in the 1990s. (We featured another of the building’s 19 units about two years ago.)
The buyer: Heather Spence, a 31-year-old partner at Mass Tsang, a criminal defence firm.
The story: The story: In 2008, while Spence was attending Osgoode Hall Law School, she squeezed into a 400-square-foot Annex rental. Six years later, she’d paid off some loans, made partner at her firm and felt ready to take the ownership plunge. Condos held no attraction—she knew too many people who had bought units and then quickly outgrown them. If she decided to have kids someday, she didn’t need the hassle, or expense, of moving again. She got approved for a $510,000 mortgage and started the search for a fixer-upper somewhere between Queen and Dupont, from St. George to Dufferin. She was willing to consider any house, as long as it wasn’t about to be condemned, and she still had to up her ante to get into the game. Even $556,000, she discovered, wasn’t enough to make her a bidding-war contender.
Sale of the Week: the $910,000 Little Portugal townhouse that shows the appeal of a laneway location
The Property: This rare laneway property is one of three townhouse units on Skey Lane. The four-level modern home has a built-in garage, an open-concept dining area and three bedrooms.
Sale of the Week: the Trinity Bellwoods home that proves $1 million doesn’t buy as much as it used to
The Property: This detached, single-storey home is five minutes east of Trinity Bellwoods Park. It has approximately 1,700 square feet of hardwood floors, as well as a finished basement suite with its own kitchen and entry.