Is a 500 square ft.condo worth $300,000in this complex?
Good question but not quite the right question.
It really is all about relative value. Ask a resident of Manhattan if a condo of this size near Central Park or Times Square is worth a million dollars or more. He would say yes before you finished the question. Ask him if it's worth 750,000 dollars, he would tell you that that was a 'bargain' and it is probably old and in need of major renovation.
Is it worth spending 300,000 for a small unit to live in this building in this area?
Short answer - YES.
Longer answer - Unfortunately, yes.
Longer answer with explanation - Dundas and Yonge is slowly shaping up to be Toronto's version of Times Square. It WILL be the place where people will gather during special moments in this city's on going history. It WILL be the new central hub where tourists will want to go. It will continue to grow and become more interesting as time goes on. In other words it's 'value' to people who would like to be there, will grow. So will your investment. The builder of this 'thing' knows it, and thats why he is is going to go for the absolute maximum return on his investment. If this means squeezing hundreds of tiny mediocre shoebox like residences into one massive 'tall as he can get it' building than he is going for it. Good design be damned. Just give people the illusion that something great is being built here.
If you are thinking of buying here and you are worrying over value then don't.
One day in the future, people will gaze at you with wonder when you brag about what you paid for your unit...... ...one day.
"Inside every older person is a younger person
wondering what the hell happened."