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River City Condos Phases 1 & 2 
701 King St E, Toronto
Developer: Urban Capital Property Group

River City Condos (Urban Capital) - Real Estate -

Discussion in 'Real Estate - Individual Project Threads' started by kalaso, Nov 1, 2009.

  1. kalaso

    kalaso New Member

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    Hello,
    I am looking forward to buy a condo unit at River City project.
    I just have some concerns about the mixed use market housing units and affordable housing as follows:

    What are the pros and cons to live in this new community?
    What do you think about the affordable housing in this new community?
    Does anyone know what types of afforable housing will be built?
    Does anyone know what is the distance between affordable housing units to be built from the River City Condos?
    When will the affordable housing be built?


    Hope you guys can help me to understand more about this. Thank you.
     
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  2. greenleaf

    greenleaf Senior Member

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    Affordable housing is good. Does it matter what order the buildings are built? There will all types of housing: townhouse & condo. I'm sure they will be mixed in with the other units. There's not going to be some kind of ghetto of market-rate only condos.

    I suggest you walk along the Esplanade from Jarvis to the Distillery, which has mixed-income housing, for the possible feel of the whole west don lands neighbourhood.
     
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  3. simuls

    simuls Senior Member

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    I suggest you don't. The Esplanade, despite what many people think, is not a well integrated pain free area and has many many problems. Plus, its buildings are kinda ugly.
    That being said, you have nothing to worry about when it comes to mixed use, it's a great idea and you won't even know who owns/who doesn't as it will be all together and not a separate building, to the best of my knowledge.
     
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  4. UserNameToronto

    UserNameToronto Active Member

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    Are you suggesting to not travel that stretch because it's dangerous (? - it most surely isn't) or because it isn't a good model of what RC / WDL will be like? If St. Lawrence isn't a good model, can you suggest a better model?
     
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  5. simuls

    simuls Senior Member

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    People love to put The Esplanade and St. Lawrence Market together, but they're different. The Esplanade really starts east of Jarvis while SLM is west and while it isn't a violent area per se (although do a city of toronto crime search and it isn't exactly prime), a simple walk will point out that it isn't the most well kept area either. I'm not saying that SLM/Esplanade isn't somewhat of a success - as I stated, I'm all for mixed use and it's far superior to the old way of thinking - but I think we need to look at the new projects in Regent Park and the upcoming mixed use in Cityplace. These will be far more progressive entities, with better quality construction and even less (hopefully none) of the stigma that surrounds subsidized housing.
     
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  6. DarnDirtyApe

    DarnDirtyApe Active Member

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    I think what simuls may be getting at is that if you are concerned with "property values", do not buy somewhere that is known for having TCHC buildings nearby. If prices are cheap and you wish to live there, go ahead.

    Just look at the ruckus caused by the TCHC building in City Place. It's amazing the racism and classism that comes out when people's home values are perceived to be at risk.
     
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  7. Yossi Kaplan MBA

    Yossi Kaplan MBA Realtor

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    River City

    I've lived in the area for a few years and always loved the desolation and the old warehouses. Although most of this is gone now it's still one of my favourite locations and I would not mind living in a community with mixed/low income neighbors. Downtown is mixed and I can't believe it would make any value higher or lower. It's about location and design and RC should have plenty of it.
     
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  8. UserNameToronto

    UserNameToronto Active Member

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    A key aspect of any mixed neighbourhood is the mix itself. WDL totals 5800 units, of which 1200 are subsidized in some way (21%). Contrast that against St. Lawrence (>50%?) and Regent Park (100%).

    If Corktown didn't have any social housing, it wouldn't as affordable--it's less than 2km from Bay St!
     
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  9. simuls

    simuls Senior Member

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    Actually that's not what I meant. I really don't think that in this new mixed use era where the ratios are closer to 20/80 public/private that you have anything to worry about in terms of property value.

    Also, the new buildings that TCHC is building are just as nice if not nicer than a lot of the private buildings going up. It's one of the reasons the horrible classism has reared its head in Cityplace. They're insulted that someone in public housing might have a place that's nice. It's sad.
     
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  10. kondoz

    kondoz Active Member

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    exact location

    Does anyone know the exact location of the river city condos?

    My agent told me this

    "five building condominium development located on King St. East,
    moments from Yonge St.. and Bay St. as well as Lake Ontario, and
    immediately next to the newly announced Pan Am Athletes Village and
    the new 18 acre Don River Park."

    I find the "moments from" part slightly hard to believe although by car yes I guess it would be moments from Yonge.

    Any idea to the cross street?
     
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  11. greenleaf

    greenleaf Senior Member

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    I'm pretty sure the tall building on the right in the ads is immediately south to where King st & Queen st meet right before heading over the Don Valley.

    The other tall building will be immediately south of the raised Eastern Avenue ramp.

    Here.
     
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  12. UserNameToronto

    UserNameToronto Active Member

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    The first phase is south of King, between Bayview and St. Lawrence street (one east of Sumach/Cherry).

    It takes 20 min walking/5 mins by car to reach Yonge St. It's as far east as Bathurst is west (2km).

    [​IMG]
     
    Last edited: Nov 12, 2009
    #12
  13. Yossi Kaplan MBA

    Yossi Kaplan MBA Realtor

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    River City is located on the South side of the very East end of King St. If you drive by there you'll see the entire area is clearly marked with hoardings.
     
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  14. Riverdale Rink Rat

    Riverdale Rink Rat Senior Member

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    Sales office delayed already?

    I picked up a copy of the Condo News free rag while shopping the other day, and a full page ad on River City promised that it was 'coming in February.'

    Anyone else heard about February being added to autumn? Or is this a delay that I'd missed?
     
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  15. kaka761023

    kaka761023 New Member

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    I believe February is the time the condo is released to public. I heard the VIP sales is coming soon this fall.

    This project sounds pretty attractive to me. The only concern I have is the "affordable housing" part...
     
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