Rêve Condos (Tridel) - Real Estate -

[SpadinaBus]

From the Projects and Construction thread:

What do you guys think Reve compare to Freeds projects located on King street such as Fashion House and 650 King Street. I personally think King street (between Spadina and Bathurst) is more upscale and prosperous over Front Street (Spaidna and Bathurst). Any thoughts ?

Reasons to buy Reve:
1. It will be likely be built by Summer 2011 compared to Freed's projects which are at a minimum, more than 24 months away since they have not even started excavation.
2. Tridel has a way better reputation than Freed. #1 in city. Freed tried to pawn off an extra City levy of considerable sum on closing to all his buyers at his latest project earlier this year, 10 Morrison. Not cool.
3. The ammenities at Reve are better than 650 King or Fashion House.
4. Prices at Reve are very competitive and will look pretty good for 2011. Sales are hot I hear.

Reasons not to buy Reve:
1. Will they get enough sales to actually start construction to meet 2011? Is 2012 more realistic?
2. King Street West is more upscale than Front Street West.
3. Suites are small and the architect Rudy Wallman continues his trend since Victory Condos to squeeze bedrooms into overall space that is small (two bedrooms are now in the space of previous one bedrooms).

 

[carturo15]

Does anyone know what is the ceiling height for the units at REVE?

 

[Ore]

From the Projects and Construction thread:


Reasons to buy Reve:
1. It will be likely be built by Summer 2011 compared to Freed's projects which are at a minimum, more than 24 months away since they have not even started excavation.
2. Tridel has a way better reputation than Freed. #1 in city. Freed tried to pawn off an extra City levy of considerable sum on closing to all his buyers at his latest project earlier this year, 10 Morrison. Not cool.
3. The ammenities at Reve are better than 650 King or Fashion House.
4. Prices at Reve are very competitive and will look pretty good for 2011. Sales are hot I hear.

Reasons not to buy Reve:
1. Will they get enough sales to actually start construction to meet 2011? Is 2012 more realistic?

( Please keep in mind that this is a small 13 storey building with only 305 units . Also, please note that the prices are very attractive (see Reve price list) when compared to other preconstruction condos in the same area ; therefore, units in Reve will get sold must faster than the others. Thus, I am confident that Tridel will start construction very soon.

2. King Street West is more upscale than Front Street West.

(I am not sure which part of King Street west you are referring to. If you are comparing Reve to“ Festival Tower” and “M5V” then yes, King West is more upscale. However, you will note that Reve’s prices are more affordable (under $500/sqft) whereas the other two are at $700/sqft. Also Tridel has a good reputation in quality assurance and customer satisfaction.
3. Suites are small and the architect Rudy Wallman continues his trend since Victory Condos to squeeze bedrooms into overall space that is small (two bedrooms are now in the space of previous one bedrooms).

When reviewing the floorplan of smaller units, focus on the functionality of the space and forget the square footage momentarily. You will note that the layout in these floorplans have been maximized to increase their functionality. You can literally use every square footage effectively. Thus, I believe that people will appreciate the price and the value that they are getting from such functional layouts.

 

[Ore]

Does anyone know what is the ceiling height for the units at REVE?

9 feet

 

[SpadinaBus]

ORE
It appears you are a real estate agent, very responsive to any negativity. If I am wrong, please correct me.

Sorry, but King West is not Front Street. Once Victory, Fashion House, 650 King, and Freed's new building at the Travelodge are done, the foot traffic and ambience of King West of Spadina to Bathurst will always prevail over that part of remote Front Street. Those Blvd. and Freed buildings are not in the $700/sqft range but in the $mid-500's, so Reve is cheaper compared to these and much cheaper compared to the east precinct of King-Spadina.

And regarding floorplans, some of these are very good and some not that good and no-one's fault. That is just how the space needed to be configured with the site constraints. You have to pick your floorplan carefully and understand fully what can be built and at what height in the adjacent properties.

I have full confidence that Tridel will do a good job but there are no guarantees on sales or start of construction or anything.

 

[kennyx]

not sure about this one... there's only one 1+den unit and it's a small one at that. And all other 1bed's are less than 600 sq/ft?

 

[Ore]

SpadinaBus, I am not a real estate agent but I am a real estate investment analyst (Toronto).

 

[SpadinaBus]

not sure about this one... there's only one 1+den unit and it's a small one at that. And all other 1bed's are less than 600 sq/ft?

Keep the price low and they will come.......

 

[SpadinaBus]

I was in fact at Tridel's head office last Saturday and there was a line up already waiting for the grand opening on 24th to purchase. There are lots of speculators/flippers in this project and unsure if this is a good sign or not for this project in a long run.

A line up for the 24th or a line up to buy for last Saturday?

 

[MadMax]

A line up on last Saturday (with camping chairs and gears) waiting to purchase on 24th.

Is this still happening in this city? Or is this just a marketing ploy? Or, are speculators waiting to invest? Or is demand that much more than supply? Or did people feel they missed the boat on Lightbox, Victory, Charlie, etc.etc. and are hoping to cash in? Thoughts anyone?

 

[kennyx]

There are lots of speculators/flippers in this project

that would be my guess too, based on the small unit sizes.

 

[SpadinaBus]

A Tridel rep told me this afternoon that there was an unofficial lineup last Saturday but that was taken care of. No lineups since.

There are a lot of small suites because I believe they want to sell the 300 suites ASAP and start construction in early 2010. The market is saying we want product below 300k. Tridel is smart on this one.

 

[Ore]

Stunning City Views of Reve

Gorgeous city and lake views (south west and south east)

 

[avatarreb]

A Tridel rep told me this afternoon that there was an unofficial lineup last Saturday but that was taken care of. No lineups since.

There are a lot of small suites because I believe they want to sell the 300 suites ASAP and start construction in early 2010. The market is saying we want product below 300k. Tridel is smart on this one.

Good for Tridel... maybe not so good for owner+occupiers. With this many small units, I can predict a pretty high rent to own+occupy ratio. I'd steer clear until the property matures.

 

[Monaco]

Link to floorplans please?