Monday, September 18, 2006

CityPlace - Fitness Centre


The Saturday Star for Sept 16, 2006 featured a story about the new fitness centre for CityPlace Harbour View Estates. I often am taking clients through this facility. It is the most extensive and elaborate set of condo amenities I have ever encountered. I like to call it "Summer Camp for Adults".

Here is the article...

Owners buy into membership in massive SuperClub, which also serves as the community centre

Sep. 16, 2006. 01:00 AM
STEPHEN WEIR
SPECIAL TO THE STAR


When it comes to the art of filling a new condo, is it the building that picks the inaugural owners or the other way around?
At the Harbour View Estates complex just west of the Rogers Centre, you can credit brightly coloured medicine balls, private swimming lessons and an U.S.-style 10-pin bowling alley for attracting young, health-conscious buyers.
With more than 1,500 units in towers up to 49 storeys high (along with a townhouse block), Harbour View is part of the Concord CityPlace community.
A total of 20 highrises are planned for the 18-hectare site, located on the former CN Railway lands south of Bremner Blvd. and east of Spadina Ave. (
http://www.cityplace.ca).
Harbour View, at 11 Mariner Terrace, recently marked the opening of SuperClub, a $6-million, private, 30,000-square-foot health club — possibly the biggest of its kind in the GTA.
"This was the selling point for singles and young couples looking for that first condo," explains Bryan Chartier, Core Architect's director of interior design.
Core was both the architect and interior designer for the complex. Concord Adex Development Corp. was the builder.
"Undoubtedly, a number of buyers were attracted to the concept of a SuperClub when purchasing the condos attached to it," Chartier says. "People are buying into a lifetime membership in an amazing club, as well as living in their downtown home.
"What we did was to design a community centre — the common ground for a small urban village. The biggest problem in living downtown is not knowing anyone — even the person right next door. This (health club) breaks down those barriers ... and it is a great facility, too."
Spanning 80 metres in length, the sleek structure features an impressive inventory of amenities for both active and passive activities.
Built next to the Gardiner Expressway, the SuperClub includes a 25-metre swimming pool, a full-size gymnasium, whirlpool, cardio, weight and conditioning rooms, a squash court, bowling lanes, a billiards room and an outdoor tennis court. For the armchair athlete, there are Gardiner-facing outdoor tanning platforms, an indoor golf simulator, a karaoke room, an Internet cafe and a juice bar.
The SuperClub concept has become a self-fulfilling prophecy. The four-building complex appears to be populated by younger buyers keen on maintaining a healthy lifestyle.
The units, some of which are less than 570 square feet, have been snapped up at an average price of $220,000 for a one-bedroom. As of last week, there were only 11 unsold units.
"The strategy in designing this building was to provide a complex of equal or better value than commercial health clubs," says Chartier, 38. "In terms of other condominiums in the city, there is nothing like it. Most condos come with a small fitness room with a couple of machines and a small pool."
Although SuperClub sits on prime downtown land, it generates no revenue, since ownership has been turned over to the condo owners. In return, the club has given Harbour View the image of being a hip and healthy place to live.
The club is owned by the complex's three condo associations and is operated by a management company.
It has only been open four months but is already a focal point for many of the 3,000 residents.
"The SuperClub has defined the purchaser," says Core's partner in charge: architect Deni Poletti. "This is more about being a social place than an impersonal health club. This definitely sets the complex apart from any other project in the city because it is just such an extensive facility."
Poletti doesn't expect a SuperClub like this to ever be built again in Toronto, since there isn't enough open space available.
The building's amenities are designed in an "international" style, with a strong North American influence. The pool, track, machines, squash and basketball courts are for use by both sexes. The change rooms are segregated by gender but the locker rooms are open concept.
"We actually see people meeting people in the SuperClub's living room (a central meeting area with plush leather chairs, a library, a gas fireplace and three Internet portals) and not the change rooms," says Chartier.
"That's because you have to reserve your spots on the court and the machines. The living room has online reservations and it is where you hang out waiting for your time," he explains.
"In small towns, the meeting place was downtown. For these buildings, the centre is the living room and the nearby juice bar."
SuperClub isn't for everyone. The size of the buildings around it creates its own weather pattern.
Sometimes, the ring of condos blocks the sun. At other times, the glass-faced structures reflect the sun so that it shines through the club's north and south windows simultaneously.
"We are working on small condo buildings, where there are virtually no amenities, and the monthly condo fees are low," says Chartier.
"The buildings around SuperClub only make sense if you take advantage of what is available ... ultimately because you are paying for it."

GST Info

Canada Revenue Agency published this set of useful information sheets on when tge GST is applied. They are available on the CRA web site under Technical Information – GST/HST.

Have a look at the ones for:
  • Sales by Individuals of Owner-Occupied Homes
  • Sales of Vacant Land by Individuals
  • Sale of a Residence by a Builder who is an Individual
  • GST/HST Rate Reduction and Purchasers of New Housing

Here is where to look for them... http://www.cra-arc.gc.ca/menu/GHIS-e.html

Saturday, August 05, 2006

Strong Showing for July Market


Toronto Real Estate Board's July Month-end Report...

Thursday, August 3, 2006 -- July saw 7,082 single-family homes change hands in the Greater Toronto Area; a strong showing at over 7,000 sales, though slightly less active than the 7,387 sales recorded in July 2005, TREB President Dorothy Mason reported today.

"The GTA market is very healthy," Mrs. Mason said. "Year-to-date figures show that 2006 remains more than one per cent ahead of 2005, with 52,682 transactions recorded so far this year, compared to last year’s 51,985 transactions."

The average price of homes that changed hands in July was $342,034, up nearly five per cent over the $326,034 figure recorded last July, while year-to-date prices at the end of the month were up more than five per cent over the same time frame last year.

"Consumers are still seeing excellent return on their investment, yet price increases are very steady and controlled which is helping to maintain affordability in the market," Mrs. Mason said.
Breaking down the total, 2,680 sales were reported in TREB’s 28 West districts and averaged $325,417; 1,279 sales were reported in the 14 Central districts and averaged $428,031; 1,407 sales were reported in the 23 North districts and averaged $373,573; and 1,716 sales were reported in TREB’s 21 East districts and averaged $278,028.

The Downtown Core/Harbourfront area put in a strong showing, with total sales up 28 per cent over the same timeframe in 2005. An increase in condominium sales were behind this healthy performance.

Jason Mercer, Senior Market Analyst for the Canada Mortgage and Housing Corporation, noted that the general health of the market is in excellent shape. "Resale market activity continues to fall in line with forecast home ownership demand,” Mr. Mercer said. “Sales will remain near the record level set in 2005, and growth in average home prices will remain above inflation this year.”

Friday, August 04, 2006

Grow Houses

How would you know if you have encoutered a house that had been used as a Marijuana Grow House? Well now there is more protection. If a home has been found by the police, then before it can be re-occupied it will need to pass a city inspection.

The Toronto real Estate Board has issued this bulletin to explain further.http://www.realestatehelpdesk.ca/Info%20Sheet%20-%20Grow_Houses.pdf

Wednesday, July 26, 2006

DNA Parking Space - Sold

I am pleased to report that the parking space has been sold successfully. It took just a little over a week to find the right person to buy it. It was puchased by someone who has recently purchased a suite in the building that did not come with a parking space at all.

So, the purchaser is happy. they have their own place to park, without renting. The seller is happy. They got a better return on their investment than if they had sold their condo with 2-spots. I am happy, I helped my client. The other agent is happy. They improved the quality of the suite their client is purchasing.

Thursday, July 20, 2006

Solid Summer Sales - Toronto Real Estate Board

Today the Toronto Real estate Board published their mid-month update on the Toronto area housing market. The average prices are up about 5% year-over-year and the transaction volume remains very strong. - Ralph

Here is the report...

July 20, 2006 -- In the first half of July, the Toronto Area resale housing market outperformed last year’s mid-July sales pace by three per cent, Toronto Real Estate Board President Dorothy Mason announced today.The 3,251 transactions recorded to the 15th of the month eclipsed the 3,145 sales recorded to the same time in July of 2005.“As we progress through the summer, the market is demonstrating a great deal of stability,” Mrs. Mason said. “The strong, consistent activity we are seeing is certainly a positive sign.”The price of a home in the Greater Toronto Area at mid-month was $346,267, up five percent from the same period last year when the price was $329,478. “Price increases are steady,” Mrs. Mason noted, “and a healthy 25,875 listings at mid-month means they will likely remain at a sustainable level.”Overall sales in Toronto’s downtown / Harbourfront area through the first half of the month outpaced last year’s mid-July performance by 30 per cent on the strength of a very active condominium market.A jump in condominium activity also helped fuel an overall sales increase of 56 per cent in Scarborough’s Morningside area, compared to mid-July 2005.In the Clarkson / Lorne Park area of Mississauga, detached homes were most common as the area saw 88 per cent more homes change hands in the first half of the month compared with mid-July of last year.“Consumers can find a lot to be confident about in terms of activity, prices and inventory,” TREB’s President said. “Things are moving in the right direction so it’s a great time to be in the market.”

Monday, July 17, 2006

RE/MAX - Return on Investment Report

Today RE/MAX released to the media the RE/MAX Return on Investment report.

RE/MAX looked at 63 TREB districts in compiling the Best ROI in Toronto and outlying areas. In doing so, stats were calculated based on year-to-date figures January-June 2006 vs January-June 2005. The areas experiencing upward pressure have shifted.

To learn more about the findings following is a link to the press release.

Click here to download the Press Release

Tuesday, July 11, 2006

Market News


A couple of news worthy announcements were made today:

  1. The Bank of Canada had the opportunity to change its key overnight lending rate today. However, they choose to hold their rate steady at 4.25%. This rate has a major impact on mortgage rates. It was the first time rates did not change after seven consecutive quarter-point rate hikes that began last September. Thus the immediate outlook will see mortage rates remaining constant.
  2. Canada Mortgage and Housing (CMHC) released the monthly figures for housing starts for *Ontario* and for *Toronto*. While housing starts are down from where they were a year ago, they are still strong. The seasonally adjusted starts increased to 43,000 annually, from 40,000 annually a month ago. New construction of single detached homes along with semi-detached homes and townhouses are seeing the most decline. Stacked townhouses and apartment condos are leading the way, with the number of starts up 18% since a year ago.

DNA Condo - Parking Space


I have just finished helping a homeowner of a condo to sell their suite. They owned two parking spaces. The condo suite was most attractive to potential buyers if it only had one parking space with it. So, to get the best return, we decided to market the parking space separately.

I've never sold just a parking space before. We will see how it goes. The buyer has to live in the DNA Condo at 1 Shaw St in Toronto.

I'm going to promote it to other agents active in this building who have listed or sold something here. I'm also trying to reach the building homeowners through the bulletin board in the mail room.

Tuesday, July 04, 2006

Why create a blog?

I have created this blog as a web space to comment on current events in the Toronto Real Estate market and as way to connect with others about topics of interest.

My main website is : www.RealEstateHelpDesk.ca

Ralph Evans
Sales Representative
RE/MAX Professionals Inc., Brokerage

Office 416 236-1241
Direct 416 577-5486 -- best to call this number!