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Thread: Corktown District Condos (Streetcar) - Real Estate -

  1. #1

    Default Corktown District Condos (Streetcar) - Real Estate -

    came across a blog mentioning rebates to buyers.... "cash rebates up to $9,000, PLUS upgrades up to $7,000, PLUS parking & locker included".. that was posted in May (I think)....

    just wondering if anyone actually got the rebates? and if it's still on-going....

    thx.


  2. Default Corktown

    Hi there, I am purchasing my first condo and depending on the results from some of the research I'm doing I may purchase a 1 bedroom unit at 549 King East (Corktown). This is a streetcar development.

    My concern however is the neighborhood. I realize there will be a lot of revitalization in this area within the next 10-15 years but until then there isn't much around (variety stores, grocery etc).

    Do you think this neighborhood is a safe investment? The building is 1 of 3 but it's close to the richmond ramp.

    Just really looking for any advice on the neighborhood, the appreciation, etc

    thanks a lot

  3. #3
    Join Date
    Apr 2007
    Location
    Mississauga, where cars rule city growth
    Posts
    7,813

    Default

    It will be the hot bed of things to come in the coming years.

    Your investment will go up even before you move in.

    Once the rest of the Lower Don Development start coming on line, thing will get even better.

    More grocery stores are coming.

  4. #4

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    The area is on a huge upswing but I'd be concerned buying into this building wedged inbetween the King streetcar and the Richmond off ramp. The type of construction doesn't look as solid or private either.
    got some ice to sell you

  5. #5

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    Doesn't this building not have concrete walls dividing the units? I'd be weary of the soundprrofing. I may be wrong though.

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    IMO the neighborhood is just going to get better. Much of the revitalization and gentrification will be catalyzed by the West Don Lands redevelopment and 2015 Pam AM Games Athlete's Village (within WDL) that will be built steps from the Corktown District buildings.

    With respect to the method of this building's construction (i.e. steel stud / drywall partitions) I would recommend satisfying yourself by asking to tour 569 King (mostly finished) and / or Edge Lofts which are complete (I'm assuming there are re-sale units in this building). Based on how a drywall partition is constructed you can end up with a sound rating that exceeds a typical concrete partition.

    Out of interest what are prices like?

  7. Default

    Be aware that they are building a public housing building directly across the street from Corktown Mews. This may or may not bother you.

  8. Default

    I dropped by an open house at Edge lofts and was surprised how quiet the unit was, especially since it looked out onto the DVP. While I was there, the occupant of the suite underneath had dropped by to take a look and he said that he has never had any problems with noise.
    http://299bloorcallcontrol.com
    (random ramblings on the urban landscape)

  9. Default

    Thank you for the responses. The thing I like about this building is that some of the units come with rooftop terraces. These are private, sectioned off with privacy screen, areas with gas bbq hookups. The one that comes with the unit I am looking at is 365sq feet. Kinda cool.

    Yah, the location is rammed into a corner and the view is of the richmond on-ramp but because of the private terrace, the view is not a huge deal to me. Interestingly enough, the terrace has a separate deed which means I can sell it off, rent it to people who want to garden, etc if I ever decided to. I do like the uniqueness of the neighbourhood..

    The unit is 641sq feet + the 365 terrace so about 1000 sq ft of usable space. Polished concrete flooring and the 10ft ceilings with giant windows look cool. I'm a little worried about the noise factor now since I didn't even think of the wall material. I'm coming from the radio city condo in the village, not sure if those walls are cement but even then I can occasionally hear my neighbors. The unit with 2 storage units (purchased separately) comes to 338k.

    This same sq footage without the terrace is going for 10k more in the phase 2 buildings.

    It's a very big decision and I like everything except people's reaction to the on-ramp view. The goal is to one day rent it out too

    appreciate the feedback

  10. Default

    I can't speak too much about 549 King, but I was seriously considering a purchase at 510 King. I was originally considering and eventually ended up buying in St. Lawrence Market. But the unit I was considering at 549 King was amazining. So since I was putting plenty of thought into it as you are now, perhaps I can provide a little bit of insight.

    Quote Originally Posted by apholmes View Post
    My concern however is the neighborhood. I realize there will be a lot of revitalization in this area within the next 10-15 years but until then there isn't much around (variety stores, grocery etc).
    Yes, this is very true and it will be a construction zone for quite sometime. But King East is the new King West and eventually you'll find yourself in a fast developed neighbourhood and the amenities will come along with all the history that is already there. While you won't have much outside your door initially, consider this... I timed it many times and the streetcar takes 8 minutes to get to Yonge from Sumach. Soon there will be a streetcar line to the Distillery District. A combination of the streetcar/walking and you're close to a lot since you're not far from the St. Lawrence Market area where there are 3 grocery stores plus the market. As for other amenities, there is a Savoury Grounds coffee shop and the Dominion Pub which may become your local. They're steps from your door. But most amenities are more than a few steps from your door right now, but that's the initial negative of moving into an up and coming neighbourhood.


    Quote Originally Posted by apholmes View Post
    Do you think this neighborhood is a safe investment? The building is 1 of 3 but it's close to the richmond ramp.
    This neighbourhood is definitely a safe investment with plenty of upside. You'd be getting in early and while at first you may have to trek to get to some places, the development will happen around you.

  11. Default

    Quote Originally Posted by apholmes View Post

    My concern however is the neighborhood. I realize there will be a lot of revitalization in this area within the next 10-15 years but until then there isn't much around (variety stores, grocery etc).
    Not much around? You're a hop and skip away from the Distillery District (15 minute walk) and the St Lawrence market (25 minute walk).

    There's a Sobey's just east of Sherbourne and Front. You'll also be relatively close to Chinatown east.

  12. #12
    Join Date
    Jan 2008
    Location
    St Lawrence Market Area
    Posts
    4,289

    Default

    and a possible Loblaws (No Frills) in the Toronto Sun building and access to both King and Quen streetcars ....

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    Has anyone had their PDI yet? The last I heard they were supposed to begin this week for 569 King with occupancies starting next week. Mine's at the end of the month, but it would be interesting to hear what to expect from others. Not sure if this is the correct thread for this discussion.
    Last edited by UrbnThnkr; 2010-May-04 at 16:45.

  14. #14

    Default

    Quote Originally Posted by UrbnThnkr View Post
    Has anyone had their PDI yet? The last I heard they were supposed to begin this week for 569 King with occupancies starting next week. Mine's at the end of the month, but it would be interesting to hear what to expect from others. Not sure if this is the correct thread for this discussion.
    549 King looks nowhere near inhabitable

  15. Default

    Quote Originally Posted by JayBee View Post
    549 King looks nowhere near inhabitable
    Friend of a friend purchased @ 549 King...notice date for occupancy was recently updated to end of July.

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