Improving Toronto’s public spaces
thinkToronto
Spacing magazine invites people — 35 years old or younger — with creative ideas on how to improve Toronto’s public space to take part in thinkToronto, an urban design ideas competition that will help celebrate the magazine’s 5th anniversary in December 2008. Architects, urban planners, landscape architects, designers, artists, students, and the urban curious are all encouraged to submit their plans to tweak, improve, or redesign streetscape elements and specific areas of Toronto.
thinkToronto seeks ideas from the next generation of city builders who want to challenge how we view Toronto’s public realm. The competition gives participants a platform to explore and experiment with Toronto’s urban landscape and generate a dialogue among Torontonians about creative and sustainable solutions in our shared common spaces.
See the thinkToronto website »
May 13, 2008 in Toronto Real Estate Trends | Permalink | Comments (0) | TrackBack
Toronto's Hot Spot
The Toronto Real Estate Board's market watch publication reports that the E01 real estate district is up 75 per cent in transactions last month compared to December 2006.
The Toronto Real Estate Board district E01 is bounded by Danforth Avenue to the north, Lake Ontario to the south, the Don Valley Parkway to the west and Coxwell Avenue to the east. "In Beaches-Riverdale, there were 63 home sales in December 2007 versus 36 in December 2006 so that's a 75 per cent increase," said Maureen O'Neill, board president.
This figure was primarily fueled by the sale of semi-detached homes, which are abundant in south Riverdale and Leslieville. "Semi sales are up by 58 per cent from December 2006 to December 2007 and attached row houses more than doubled in sales," she said.
Without a doubt, the primary reason for the explosive number of transactions in the area is due to the City of Toronto's new land transfer tax, which comes into effect February 1. The new Toronto tax almost doubles the fees for homeowners as the province already has its own land transfer tax in place.
"It's that obscene new municipal land transfer tax. Our November and December market just revved right up because people want to save that tax," O'Neill said.
E01 was already doing very well as many of the southern communities in the district are evolving from somewhat seedy working class neighbourhoods dominated by gas stations, auto body shops and dollar stores. Today, E01 is an area full of trendy "destination" communities that feature cool restaurants, cafes and coffee houses along their main streets.
O'Neill said that city living is also growing in appeal as home buyers have had enough of two-hour-long commutes and rising energy costs. "There's even a DVD called The End of Suburbia. People want urban real estate," said O'Neill, whose organization publishes monthly market reports and bimonthly news releases on Toronto real estate trends.
"Places like Leslieville are gaining great value but it's still affordable." The number of renters in E01 is also on the decline meaning that more people are buying homes and taking pride of ownership in their community.
"It's an affordable area that's still close to downtown compared to other neighbourhoods west of Yonge Street," she said, admitting the cost of buying a home in the area is also on the rise. "It's a really hot area and people are seeing the value of the neighbourhood."
The neighbouring E02 district — The Beach — bounded by Danforth Avenue to the north, Lake Ontario to the south, Coxwell Avenue to the west and Victoria Park Avenue to the east - also has a very active real estate market. Last year, a biding war upped the price of one lakeside home by as much as $600,000 over the asking price. The Beach's lively housing market has a positive effect on its community to the west.
January 22, 2008 in Toronto Real Estate Trends | Permalink | Comments (0) | TrackBack
Foreign Aid for Toronto
Why hasn’t Toronto’s housing market tanked like London’s or New York’s? Just take a look at who’s buying.
Watching the global real estate market from Toronto these days can make you feel a little like Nero with his fiddle. As the sub-prime meltdown spreads from city to city, expensive condos from London to New York now sit on the market for months at a time.
Meanwhile, Toronto assumes the mantle of condo capital of North America. We are the only major English-speaking city in our hemisphere to have plowed right through the 2007 crisis without so much as a blip. Everybody’s wondering why we’re weathering the storm so well (and just how long that will last). Sherry Cooper, the renowned BMO economics guru, says we shouldn’t look to our local population for the explanation. "The number of units sold," she says, "particularly at the affluent level, is growing by far more than the number of high-end domestic households."
So who’s snapping up all the condos? Iranians, mainly. And Russians, and South Koreans, and Brits. Agent Shaun Hsu says that half his sales over the past year have been to foreign buyers. Others, particularly at the high-end firms, say that Iranians are their single biggest client group these days. Michael Kalles, president of Harvey Kalles, estimates they’ve had about 100 Iranian clients buy over the past three years. Mark McLean of Sotheby’s says much of his business comes from his company’s 450 offices around the world. "It’s non-stop for us," he says." We have 18 agents all working, just trying to keep up." One man from Iran, who hasn’t even decided if he’ll move here, recently bought three not-yet-built condos through Forest Hill Real Estate, with a price tag of about $11 million.
January 20, 2008 in Toronto Real Estate Trends | Permalink | Comments (3) | TrackBack
Top 10 luxury home must-haves
Royal LePage reports on the most sought-after and unique accessories for luxury homes.
Come holiday season, children and adults alike begin creating wish lists - detailed accounts of everything their hearts desire. This season luxury homeowners' wish lists are likely to spare no expense, as the bar just keeps getting higher when it comes to outfitting one's multi-million dollar pad.
Multiple car garages and lavish walk-in closets are a thing of the past; indoor car washes and walk-in refrigerators are the new rage. As demand for luxury homes continues to grow, so do the wants and needs of those looking to buy.
"The million dollar home is no longer the exclusive domain of the rich. In fact, many typical middle income Canadian families now own million dollar residences due to soaring property prices," said Elli Davis, sales representative, Royal LePage Real Estate Services Ltd. "Accessorizing the property with the hottest must-haves is a natural extension of living a luxury lifestyle and a way to stand out from the crowd."
With the help of its Carriage Trade real estate agents, Royal LePage compiled a top 10 list of the most unique and sought-after accessories that Canadian luxury homes are outfitted with.
1. Elevator car lifts, indoor carwashes - Luxury homeowners spare no expense for their priceless automobiles. Avid car collectors, especially in city homes where property size is limited, install elevator car lifts to expand garage capacity. Keeping a fleet of cars clean is no small feat. In fact, for many it necessitates an on-premise indoor car wash.
2. Walk-in refrigerators - Professional kitchens akin to what one may find in a five-star restaurant have taken over luxury homes. With growing emphasis placed on home entertaining, walk-in refrigerators and multiple ovens, sinks and dishwashers are the norm for even the novice gourmet.
3. Spas, gyms and yoga and Pilates studios - The home gym has undergone a makeover and the focus now is on complete health and wellness facilities. Professional-style spas complete with steam rooms and massage rooms overtake the outdated sauna or whirlpool. Yoga and Pilates studios trump stair climbers, treadmills and rowing machines.
4. Wine cellars and tasting rooms - Grand wine cellars often found in Rosedale, Forest Hill or Westmount residences are the norm for today's connoisseur. Individual cellars for red and white wines, as well as specialized tasting rooms equipped with various sinks and buckets for wine sampling are becoming all the rage.
5. Concierge services - Concierge services are no longer limited to condominium owners or hotel guests. Today's luxury homeowners utilize companies specializing in concierges. From making dinner reservations to picking up dry cleaning or purchasing opera tickets, concierge services are now a common trend within many luxury neighbourhoods. There are several companies that will provide typical concierge services to homeowners - essentially acting as a live-out butler.
6. Media rooms - Media rooms that rival the local public theatre are as prevalent in luxury homes as the family room. These windowless rooms typically boast a theatre-size screen, surround sound and rows of plush seats to accommodate large groups.
7. Wrapping and sewing rooms - Specialized rooms to accommodate particular hobbies or tasks, which are completely outfitted help to keep homeowners organized, are very popular. Dedicated rooms for gift wrapping boast everything from ribbons to paper varieties to bags and bows, while sewing rooms have every type of thread, button and zipper imaginable with tables and machines tailored to the homeowner's needs.
8. Structured wiring and security - A wireless home is a thing of today. Many luxury residences feature security capabilities (e.g. door locking), entertainment options and light settings that can be accessed remotely throughout a home in various rooms. Some properties are even equipped to remotely control security features in far away cottages or second homes. Another innovative perk for those with deep pockets are security systems that allow property owners to view their home while at work, at the cottage or on holiday.
9. Home elevators - As homes are increasing in size, and are being built higher to accommodate several floors, home elevators are becoming an accessory of convenience as well as necessity.
10. Heated driveways, walkways and garages - Manual snow removal is a thing of the past for those in exclusive neighbourhoods that favour heated driveways, walkways and even garages. Built on top of heating coils, snow melts as soon as it touches these warm surfaces.
What's on your wish list?
December 4, 2007 in Toronto Real Estate Trends | Permalink | Comments (0) | TrackBack
