By Ilan Joseph, Broker, ABR®, e-PRO®, AMP® | © All rights reserved
Top 3 Toronto Preconstruction Condo Projects for 2015 “What preconstruction condo projects should I invest in?” is a question I often get asked. There are many variables to consider with preconstruction condos and what makes them a good investment. Location, floor plans, pricing, deposit structure and other nearby projects. All these factors play a large role in determining the potential upside of a particular preconstruction condo development. Hype alone is not enough to claim a project to be a good investment. There have been many highly anticipated condo developments that have come and gone in Toronto’s history which have proven to be terrible investments. Just because many people are talking about a particular project or there is a large amount of marketing dollars behind it doesn’t guarantee its success. You and your real estate agent must evaluate price, square footage, layout, neighbourhood, upfront costs and area resale’s to determine the likelihood that the project you’re interested in will pay dividends on your investment.
Here are the 3 most anticipated projects to keep an eye on for 2015
Art Shoppe Condos (VIP sales on now!) Yonge & Eglinton From its iconic location which was the home of the landmark Art Shoppe furniture store, to the celebrity designer that has been tasked with designing its lobby, Karl Lagerfeld, this project has all the hype a hot condo project could possibly want, with a price per square foot that’s impressive for a corner of Toronto that will see significant growth over the next 5 years with the LRT that’s currently under construction. Daniels Waterfront (coming soon) Queen Quay East The site of the old Government Nightclub and Koolhaus complex was purchased by Daniels and is being redeveloped into a $700 Million art hub for the city. Daniels reputation as one of Toronto’s leading builders, along with its location in the up and coming East Waterfront neighbourhood make this a project to keep your eyes on. I’m excited to see and share with you more details on the project as they become available. Mirvish+Gehry Toronto (coming soon) King Street West Named after two very prominent names in art and architecture, David Mirvish (son of legendary theater mogul Ed Mirvish) and Frank Gehry (designer of the Art Gallery of Ontario), this project has some heavy weights pushing it forward in a big way. Two towers standing 82 and 92 storeys high will house almost 2000 units. Design will be front and centre here. Let’s hope the floor plans and price per square foot are just as attractive.
If you have any questions about buying a new, preconstruction condo in Toronto, Vaughan or Thornhill, feel free to contact me.
Ilan Joseph is a Real Estate Broker with Sutton Group and is co-founder of a 10-person award-winning Toronto, Thornhill and Vaughan real estate team. You can find him on LinkedIn, Twitter, YouTube and Google+. For over 11 years, Ilan has provided more than 1550 buyers and sellers valued advice and service, enabling them to reach their real estate goals. He’s kind of like the Bruce Willis of real estate.