cdr108
Senior Member
sounds nice ... what floor are you on?
i guess it depends on when you bought for $587, and it sounds alot better than some of the newer projects in the area such as X2, five, U, etc.
Casa Condos (Cresford Developments) - Real Estate -
- Thread starter waterscapes-guy
- Start date
sounds nice ... what floor are you on?
i guess it depends on when you bought for $587, and it sounds alot better than some of the newer projects in the area such as X2, five, U, etc.
t.o
New Member
If you look on MLS they are selling for $600-700 per square foot with west city views in Casa. So at $587 with view he did good.
As far as the new projects you mentioned, the price per square foot is high. Not even worth buying.
myfive
Active Member
yes, it is 635 sq ft, otherwise known as the Verona Unit. I bought the unit just over a month ago. Floor is around the 20th. The unit looks a lot bigger than the floor size advertised. Sometimes it goes like that. Perhaps it's because there is no wasted space. The door enters right into the kitchen area. The den is surprisingly big as well. Easily the nicest condo i've ever owned all things considered. I actually move in next week....just counting the days now. Highly recommend this unit along with the Umbria, which is essentially the same and also is on the West side. For a great one bedroom, 570 sq ft and looks huge when you get inside, check out the Salerno, also on the West side. The Salerno is located in between the Umbria and the Verona. Any of those 3 are awesome units and investments.
If your budget is a bit bigger, you could look at the SW corner or the the NW corner. Any of these 5 are very very nice. The East side will be hindered by the Chaz project that will launch in the future..i don't know when. If you are on an even smaller budget and want to get into the building and the area, the south facing studio is very nice at 431 sq ft. Very functional layout that has room for a Queen bed and a couch, recliner and tv area. For an even tighter budget, check out the north facing studio, but it is small at 366 sq fit or so. I think they are overpriced right now , so though so you should come in low if you are going to make an offer. If you are currently renting and want to buy something on a limited budget or little to put down, you should find a way to get one of these studio units and lock in your interest rates. It will be cheaper than rent and you will have a nice asset on your hands and be very happy.
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myfive
Active Member
Yeah, the new projects are coming out more and more expensive. Many were paying 600 sqft for X2 which is not nearly as nice a location. When i saw i could get the Verona unit as Casa for such a good price i didn't believe it at first. The builders are trying to gobble up more and more of the potential appreciation on the new pre-construction projects.
I picked up a small one bedroom at Five, but only because i got the VIP pricing. Total price was just over $305k, so i figure for 20% down and a five year investment (heh...Five for Five!)
it's not too bad...but i am weary of some of these prices. Years ago the pre-construction prices were cheaper than resale, but that has changed now due to the demand and the greed of the builders. Having said that, the finishes are getting very nice now as well. The one at five has Corianne, multi leveled islands in the kitchens, stealing a page from the one bloor project. So they will be very nice.
myfive
Active Member
cd...your would not believe the view. You really have to see it to believe it from the West side of Casa. When i get in the unit, maybe i will try to post some picks if i can do the view justice with my little camera!
t.o
New Member
Nice pick up at 5. I was in the presentation center a few day ago and the finishes in the model suite were very sharp. It seems to be a hot spot that everyone wants to get in.
Your right, years ago pre construction was cheaper than re sale, but that does not seem to be the case today. I find the inflated pre construction prices are obnoxious. I don't think prices will stay like this for much longer. They will cool down by end of summer/early next year. That goes for pre construction and re sale. I have noticed there are more and more places not selling on the re sale market, and just sitting there for months now. I think now is a bad time to buy.
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dventura
Active Member
Just to comment on posts from some of the previous pages.
CASA IS "upscale" mostly based on the location and the fact that the standard finishes in the units and of the condo itself are a little better than most new condos. Don't get me wrong, it's upscale in the "typical" condo category. Luxury condos are in a total league of their own and way better in every way to CASA...but nobody is calling it a luxury condo...just upscale and that's mostly location based. I've had lots of friends come over who've recently bought condos all over downtown and they've all commented that it's the nicest condo they've seen (likely having never been in a "luxury" condo). So it is better than most for sure.
As for the comments about the gym and using a full scale gym membership. I agree there are those who want zero ammeneties but I think there are more people that want amenities vs. those who don't. Unfortunately there probably aren't enough condos yet in a given neighbourhood to give the purchaser the option to buy a unit they like in a condo that has amenities and one that doesn't have any. I completely agree with the poster who said they like having a gym in the condo. There are those who are hardcore and need to get a full gym workout for 2 hours a day. I work 14-16 hours a day and would like to simply wake up and go for a quick 20 min treadmill jog in the morning, especially in the winter. I think it depends on the demographic, my grandmother lives in a mostly seniors condo and nobody uses the tiny gym there. But downtown where there are a lot of younger people, I have yet to see a condo with a gym that isn't being used constantly by people that either want a basic gym to use as their only gym and those who may use a full gym but just want a quick workout. Maintenance costs may be an issue in a small condo but CASA has over 400 units, I know that everything adds up but how much would a few more machines have really cost? I've seen the equipment and it's nice but not anything health club quality. The 2 ellipticals probably cost about $1500 a piece and same for the 2 treadmills and the 2 bikes probably $500 a piece. If you assume that 600 people live in the condo which is very conservative and half the people use the facilities that's 1 machine per 50 people. Now I'm being conservative with that number and I'll continue to be conservative...let's assume that of half the people that use the gym that they will use it every other day so now you have 1 machine a day between 25 people. I think it would be safe to say that 50% of these people will want to use the gym after work between 5-9pm. So now you have 12 people a day all fighting for use of a machine between 5-9pm. Most people will just quit.
I think there's a very good chance that in a years time the new condo board will decide to move all the weight equipment into the "yoga" room while adding a couple pieces and then filling the space in the gym with 4-6 more cardio machines. The total cost to the condo fund will be under $10,000 which is pretty minor IMO ($200 on avg per unit of their entire $4000 approx in condo fees for the year) although it may take a couple years for the reserve fund to have this money. Anyways, it's $10,000 saved by Cresford by building an empty yoga room instead.
CASA IS "upscale" mostly based on the location and the fact that the standard finishes in the units and of the condo itself are a little better than most new condos. Don't get me wrong, it's upscale in the "typical" condo category. Luxury condos are in a total league of their own and way better in every way to CASA...but nobody is calling it a luxury condo...just upscale and that's mostly location based. I've had lots of friends come over who've recently bought condos all over downtown and they've all commented that it's the nicest condo they've seen (likely having never been in a "luxury" condo). So it is better than most for sure.
As for the comments about the gym and using a full scale gym membership. I agree there are those who want zero ammeneties but I think there are more people that want amenities vs. those who don't. Unfortunately there probably aren't enough condos yet in a given neighbourhood to give the purchaser the option to buy a unit they like in a condo that has amenities and one that doesn't have any. I completely agree with the poster who said they like having a gym in the condo. There are those who are hardcore and need to get a full gym workout for 2 hours a day. I work 14-16 hours a day and would like to simply wake up and go for a quick 20 min treadmill jog in the morning, especially in the winter. I think it depends on the demographic, my grandmother lives in a mostly seniors condo and nobody uses the tiny gym there. But downtown where there are a lot of younger people, I have yet to see a condo with a gym that isn't being used constantly by people that either want a basic gym to use as their only gym and those who may use a full gym but just want a quick workout. Maintenance costs may be an issue in a small condo but CASA has over 400 units, I know that everything adds up but how much would a few more machines have really cost? I've seen the equipment and it's nice but not anything health club quality. The 2 ellipticals probably cost about $1500 a piece and same for the 2 treadmills and the 2 bikes probably $500 a piece. If you assume that 600 people live in the condo which is very conservative and half the people use the facilities that's 1 machine per 50 people. Now I'm being conservative with that number and I'll continue to be conservative...let's assume that of half the people that use the gym that they will use it every other day so now you have 1 machine a day between 25 people. I think it would be safe to say that 50% of these people will want to use the gym after work between 5-9pm. So now you have 12 people a day all fighting for use of a machine between 5-9pm. Most people will just quit.
I think there's a very good chance that in a years time the new condo board will decide to move all the weight equipment into the "yoga" room while adding a couple pieces and then filling the space in the gym with 4-6 more cardio machines. The total cost to the condo fund will be under $10,000 which is pretty minor IMO ($200 on avg per unit of their entire $4000 approx in condo fees for the year) although it may take a couple years for the reserve fund to have this money. Anyways, it's $10,000 saved by Cresford by building an empty yoga room instead.
cat
New Member
Yep, today was the day.
I got a couple of 1+dens to sell/lease, if anyone is interested
Sq Ftg? Orientation? floorplan? Price? Locker? parking?
Would seriously consider buying if I can find the right unit at the right price. What have you got? - Cate
cat
New Member
How did you hook up with the unit? Through developer? Investor? RE Agent? Am looking to buy - resales (and assignment sales for other bldgs). New build developers getting too greedy on pre-build pricing.
Whom can you recommend that has non-MLS access ie. some inside access/awareness of esp assignments as I think this will be a growing biz going forward? Any central websites for this? Kijiji and Craigslist are hit and miss.
Many thanks guys - Cate
myfive
Active Member
i hooked up with this one through and agent on Kijiji. It was before the building was registered. I havent' found any great central websites, but there are some out there if you look around enough. Those can be hit and miss as well. One good option is to wait until the building is nearly complete and owners are starting to take occupancy. The investors will want out and there will be a number of listings available. This was the situation at Casa. They won't be on MLS, but if you can look around (it sounds like you're on the right track) you can hook up with an agent who may have a numnber of units. Also, right when the building is registerd there will be a number of MLS listings at good prices.
I agree the builders are starting to get greedy. you have to watch the pricing carefully in pre-construction.
dventura
Active Member
The put 2 new notes out in the building today:
RE: Elevators: They should all be working properly now.
RE: 5th common floor: Due to some city regulations it's not up to safety standards and modifications will be needed...they now saying "July" so that means don't expect anything before August. Really a shame that they couldn't get this done by now and that it may not been until the end of summer given that they started occupancy in December.
RE: Elevators: They should all be working properly now.
RE: 5th common floor: Due to some city regulations it's not up to safety standards and modifications will be needed...they now saying "July" so that means don't expect anything before August. Really a shame that they couldn't get this done by now and that it may not been until the end of summer given that they started occupancy in December.
myfive
Active Member
I spoke to the guy responsible for the 5th floor and he said maybe this week it would be open. July was the latest. HOpe he is right. He said only 21 people will be allowed on the pool deck at any one time, so there will be a lifeguard. Maybe that is causing the delay....hiring a lifeguard. May have to reserve a spot there on the gorgeous days!!
dventura
Active Member
Only 21 at a time? That's redic! OK, so the pool isn't really big enough for more than a dozen people...but this is going to create some issues on the weekend when it's nice out and a lot of people want to sit outside. I guess this might be negated a bit by the fact that everyone has balconys here. I seriously hope that this doesn't include the outdoor dinning area as well...I've been told that there are supposed to be 10BBQs put out there....get a bunch of ppl with a party of 5 getting together for lunch and nobody would be allowed to swim (not the people that just ate, totally different sets of ppl). I guess this also means that the pool area/hot tub won't be open at night if it requires a lifeguard?
JayBee
Senior Member
10 bbq's? Wow, that's a lot but deff great news. Buddy of mine has 2 at his condo and it's a log jam to use them on the weekends.
myfive
Active Member
Hopefully i can get my Polar Dip in the early morning. Maybe the lifeguard will only be there for peak times. We'll have to see how it shakes out.