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UrbanToronto sat down with Marc Freedman of VHL Developments to talk about the developer and their condominium project at 2150 Lawrence Avenue East.
Tell us about VHL. It’s not well known yet on UrbanToronto.
Owner Van Lapoyan was educated in Paris, France, and because of that he has a style for architecture, and he’s very concerned that the architecture of his projects be pleasing and he strives to make them as close to perfection as he can. I witness it myself; he’ll sit with the architects, but he has an idea of what he wants, and it has to work.
What was it that attracted him to this site at Birchmount and Lawrence?
The same thing that attracted VHL to a site on Markham Road just south of Sheppard, called Markham Place. It was a location that needed condominium development, but other developers were not that interested in, because it was not what I would call an obviously attractive site. But our idea was that we would take this site and make it attractive. We could do it in 2 ways; 1) build something really beautiful, and 2) build something really affordable, and the purchasers, when the development was completed, would realize that they not only got as much if not more than what they bargained for, in terms of the space, the amenities, etc., but the value of their property was far greater than what they had purchased it for.
Right.
And that’s part of what our pitch is; we are selling product that is very attractive, a great deal of thought has gone into the units, the look of the building, the amenities, but as we’re expert at construction techniques, we also know how to do it all efficiently, and we’re a small enough organization so that we all know what is going on. Efficiency means lower costs for us and lower prices for our purchasers.
So VHL is also the general contractor on the jobs.
Yes, we are involved in every aspect of the construction from the tendering process to the completion. We are the general contractor, we have an onsite super, we have a project manager, we have a project coordinator, we have trades that we’ve been dealing with for a long time. We also know how to design - and this is where Van Lapoyan’s expertise comes in - he knows that part of his job is ensuring that the design is done not only so that the building is pleasing, comfortable – underline comfortable – but designed in a way that construction is done without waste. You can waste a lot of money if you don’t pay attention to the details of construction.
I’ll give you a good example. At Markham Place we knew that if we built it in a certain way that we would not have to do shoring – it could all be an open cut – and save millions of dollars. I don’t know if all developers pay attention to that because as I go around the city I see shoring everywhere, even if it’s not necessarily needed – in most cases in Downtown Toronto it’s needed – but it’s not needed everywhere, and if you’re not paying attention, the architect doesn’t necessarily care about that. It’s not necessarily his objective to save money during construction. It’s his objective to accomplish his aesthetic goals, and that may not include cost efficiency. What we ensure is that it can be built without much wastage, and yet we ensure that it’s beautiful, comfortable, and well built.
Would you say that you are finding sites that others have undervalued?
Yes. That’s what our philosophy was about Markham Place. When we were finished, it was a beautiful project, and everyone felt they had paid less than what it was worth. They feel they’ve made money, and they are happy there. We’ve also turned something that was not so attractive into a location that’s very attractive.
So it’s a good investment for your purchasers as well as just a good place to live.
Exactly, and one of our slogans is “invest in value”. It’s a given that you should buy something that’s comfortable – it’s your home – but it’s not a given that you’re investing in something that’s a good value. We do all these things to keep the prices low, and then we accentuate the value.
So, why did we choose here at 2150 Lawrence? We find a site that isn’t Bloor and Yonge for instance, which everyone wants to buy…
A bidding war ensues…
Correct, we’re not interested in that. We’re not a big company; what we’re interested in is finding a site that is priced properly, that has a lot of potential which we feel we can transform into a desirable site.
The City must be thrilled that there’s new density coming here.
They are.
How many units are you bringing to the site?
596 units over three phases.
It's right on the Lawrence and Birchmount buses…
We’re really close to the Scarborough Rapid Transit, and 5 minutes to the Don Valley Parkway, and we’re close to lots of major shopping, on Eglinton, on Kennedy, and other places nearby. Despite that it’s not a location that would catch the eye quickly; it’s a location that reveals its beauty over time to those who inspect it closely. We are not going to buy Bloor and Yonge and overpay and hope that we can charge through the roof – that’s what those developers have to do, and the units are getting smaller and smaller, but the people aren’t getting smaller and smaller – our modus operandi is to buy land that will allow us to build efficiently, charge a price that is still affordable, and give people space so that they can live.
Tell me about the units in the building. One, two, three bedroom mix?
Yes, we are appealing to a broad cross-section of society, from a single person, to couples, to families… It could be parents who have lived their whole lives in the neighbourhood and who want to purchase a unit for their children to live close by, or people who may live in Pickering or Ajax, have small kids, and they work in Toronto, and are tired of commuting. They can trade in what they’ve got out there for something that is comfortable, new, and is more conveniently located.
Tell me what amenities are being offered to those who are moving in.
We have a swimming pool in the first building, we have party rooms, we have gyms. Between the second and third buildings there will be an adjoining structure which will house the entrance, above which we have a rooftop party facility with terrace and barbecue. A lot of thought has gone into providing ways for the people who will live here to entertain here.
As I said, we put the swimming pool in the first building so that people won’t have to wait for the subsequent phases to be built. So, along with a full array of amenities, every unit has a parking spot included in the price, along with a bicycle storage unit. We try to provide everything we can at the outset so that purchasers don’t find that there are any surprises, not needing to also purchase this and that, when they move in.
When can purchasers expect to be in the first building?
The target date is December 2014.
UrbanToronto thanks Marc Freedman for talking with us.
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