The Place: A two-bedroom unit on the fifth floor of The Loretto, a loft building formerly home to Loretto College School. It’s not to be confused with The Schoolhouse Lofts, The Loretto’s next-door neighbour. (We previously featured two units in that building.)
—The amount of gross household income needed to service a standard mortgage on a home valued at the current average price for the Greater Toronto Area, $585,204, according to a Globe analysis. The Toronto area’s estimated median family income is only $69,934.
Agent: Jonathan Ferrier, Royal LePage Real Estate Services Ltd., Brokerage
The Place: A brand-new backsplit filled with modern touches (zinc cladding, a home-automation system and a Scavolini kitchen, to name just a few), located steps from the Mink Mile.
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The Property: This two-storey home features floor-to-ceiling windows, premium oak floors and 13-foot ceilings. An open-riser staircase leads to the master bedroom, which in turn walks out to its own cedar balcony. There are also a few futuristic features, like a video-enabled door monitor, a house-wide audio system and a wifi-enabled Nest thermostat.
Toronto’s real estate mania is spreading to cottage country, making prime spots on the water increasingly tough to get. Here, five city buyers who managed to snag an idyllic getaway
—Ceta Ramkhalawansingh, a member of the Grange Community Association, telling the Star what she thinks about a recent Ontario Municipal Board decision that clears the way for the construction of a 25-storey private student residence on College Street, south of the University of Toronto. Residents fear that the development, which had previously been rejected by the city, will attract noisy, messy tenants.
CORRECTION: This post originally used an incorrect pronoun to refer to Ceta Ramkhalawansingh.
The Property: Separated into three units, this unusual two-and-a-half-storey triplex is situated on a secluded one-way street that backs onto St. Michael’s Cemetery, affording it maximum privacy. High-end details make the difference, here. A former owner (an interior decorator) added her personal touches throughout, including hardwood floors, gas fireplaces and well-appointed kitchens. The master bedroom sports a walkout to a backyard garden with a private studio in a separate building. As for the two units above, one features cornice mouldings and both have private walkout decks of their own, which are conveniently out of view of one another and only partially overlook the garden below.
After more than two years of opposition by neighbourhood residents, the inevitable has happened: the Ontario Municipal Board has given its go-ahead to 109OZ, a six-storey, 87-unit condo building planned for the site of a former auto-repair centre on the Ossington strip, near Argyle Street. The OMB’s decision preempts any attempt by city council to scale back the project, meaning Ossington dwellers have little choice but to get used to it. The developer made some minor concessions in order to win the board’s approval, including reducing the building’s proposed overall height from 21.5 meters to 20 and capping the size of each of its ground-floor retail units at 500 square metres.
Jessica Wilson, president of the Ossington Community Association, tells the Star that her group is “not crazy about the decision at the end of the day.” But this type of thing has to be expected: Ossington is a burgeoning business strip sandwiched between two streetcar lines, after all. Call us when the building is 30 storeys and the anchor tenant is a Walmart.
This month’s cover story by Toronto Life contributing editor Philip Preville is about the future of Toronto’s condo-clogged core, and the families stuck raising kids in tiny spaces never designed for that purpose. Preville has spent this week talking about his story—he’s been on Global’s Morning Show, CBC’s Here and Now, and CP24’s Live at Noon. It was on Newstalk 1010’s Jerry Agar Show, though, that things got especially entertaining. You can click the play button above to listen.