Toronto Peter Street Condominiums | 129.84m | 40s | CentreCourt | a—A

kondoz said:
Has this developer developed anything yet? From the amount of agents that keep sending vvip emails, i think this will be a strict investor building.
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i'm thinking you're right ... i've already received more than 6 emails in the past 2 weeks.


Travis said:
Even in the investor controlled real estate frenzy of the Hong Kong market, a 772 s/f unit would be considered incredibly small. My cousin's 3 bedroom condo at The Waterfront is at least 1,100 s/f. But in the end, this condo will sell if the market stays hot and investors keep buying.
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the 700+sf 3 bedroom units here are nothing more than slightly rejigged 2 bedroom units to satisfy Adam Vaughan. i would be surprised if actual 'family' buyers purchase the 3b units. maybe investors like them, however, i highly doubt units that small have a market in TO rentals ... at least the 2 bedroom configurations are liveable.
 
I suppose the third bedroom could more practically be used as a nice little den. One of the problems with a lot of new condos is that there isn't really any private space other than the bedroom.
 
Travis said:
Even in the investor controlled real estate frenzy of the Hong Kong market, a 772 s/f unit would be considered incredibly small. My cousin's 3 bedroom condo at The Waterfront is at least 1,100 s/f. But in the end, this condo will sell if the market stays hot and investors keep buying.
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But mind you ... in Hong Kong terms, 772 ft2 3 bedroom is considered 'large' as they are normally in the range of 600 ft2 (in Hong Kong standards) ... to have a 3 bedroom unit at 1,100 ft2 in Hong Kong is outright luxury, and I can assure you The Waterfront is definitely a premiere (not typical) property in Hong Kong located @ Kowloon station / Union Square
 
kondoz said:
Has this developer developed anything yet? From the amount of agents that keep sending vvip emails, i think this will be a strict investor building.
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The Principals of CentreCourt were executives at Menkes prior to just forming the company and started Peter Street Condos.
 
cdr108 said:
the 700+sf 3 bedroom units here are nothing more than slightly rejigged 2 bedroom units to satisfy Adam Vaughan. i would be surprised if actual 'family' buyers purchase the 3b units. maybe investors like them, however, i highly doubt units that small have a market in TO rentals ... at least the 2 bedroom configurations are liveable.
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Regarding Adam Vaughan's intentions, this is a compromise that completely misses the point. The developer is still targeting a specific price point by keeping the square footage low and therefore affordable.

I think the market for these units is investors who will rent to 3 roommates in their twenties and NOT families.
 
It is my understanding that the building would be set back about 5 feet off the property line to widen the sidewalks for pedestrian traffic - as far as materials goes I understand that in efforts to mirror the brick and beam warehouse heritage features of the area that the base will be clad in dark brick. Retail with high ceilings (7m+) is planned at grade, two floors of office space is planned on floors 2 & 3. Community Art Space is also planned at grade and sec 37 agreement will support the John Streetscape improvements.
 
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I really like this project, which is why I've named it this week's RenderPornStar.

"Peter gets 'laid..." a play on both the intersection of Peter&Adelaide and the fact it's designed by Peter Clewes whose aA office overlooks the site.

Looking forward to more renders and construction of this great-looking building!
 
Recent pic

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I leafed through the condo book for this project yesterday. The shrinkage of units is truly astounding. There's a 450sq. ft. 1-bedroom, and the smallest studio is a hair over 300sq. ft. That's smaller than my living room, and I don't have a big place!
 
interchange42 said:
If you have a 15 by 20 foot living room, that's a pretty big one for this city!

42
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That's my living and dining room. But with a totally collapsable dining table and a means to hang fold-up chairs on the wall, it really becomes my living room. That's in a 700 square foot space.
 
In an OMB decision on June 3rd, the board allowed appeals by CentreCourt against the city’s failure to approve a zoning by-law amendment within the statutory timeframe. A settlement has been reached by all parties and the applicant has submitted a site-specific zoning by-law amendment outlining the conditions of site plan approval. The agreement includes $1.5 million in Sec 37 contributions with that money going towards community space for the Toronto Arts Council, improvements to
John Street, public parks, and for public housing in Ward 20.
 
I wonder if the units are being bought mostly by the 30-ish and under crowd. They don't seem to care or be aware of any space beyond that which is necessary to operate their handheld devices anyway. Cocooning has fully arrived.
 
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