Heated demand for cool condo tower Ice2
BY SYDNIA YU
From Friday's Globe and Mail
Published on Thursday, Oct. 22, 2009 4:32PM EDT
Last updated on Friday, Oct. 23, 2009 3:14AM EDT
Ice 2 at York Centre
Location: Downtown Toronto
Builder/developer: Lanterra Developments and The Cadillac Fairview Corp. Ltd.
Size: 308 to 1,042 square feet
Price: Low 200,000s to mid-$700,000s
Sales Centre: 16 York St. at Bremner Boulevard. Open Monday to Thursday noon to 6 p.m.; weekends noon to 5 p.m.
Contact: To register, phone 416-398-0085 or visit
www.icecondos.com
Lanterra Developments
Ice 2 at York Centre by Lanterra Developments and The Cadillac Fairview Corp. Ltd.
One year after the debut of Ice Condominiums at York Centre, sales have yet to cool off with nearly 90 per cent of about 580 luxury suites sold out, including more than 120 units in the past 60 days.
To keep up with demand, a taller, curvilinear tower – composed of roughly 720 suites – will be unveiled to registered buyers at a preview event next month.
“The market has been resilient,” says Barry Fenton, president and CEO of Lanterra Developments, which is developing the project with The Cadillac Fairview Corp. Ltd.
“It's unfortunate we don't have a third phase to build because you're not going to find another location like this.”
The 65-storey tower will be one of two Scandinavian-inspired high-rises within a mixed-use development that will also house an office building on the 2.8-acre site at York Street and Bremner Boulevard.
A 6,000-square-metre green roof canopy – believed to be the largest in Canada – will wrap around the project and cover much of a central courtyard landscaped with native plants, bordered by shops and filled with kiosks.
Though the primary function of the roof will be to alleviate heat effects in the summer and retain water the remainder of the year, the artistry of its design will also be appreciated.
“When you're looking from the sky, it's going to be interesting for patrons,” says Mr. Fenton. “But it's also going to be quite interesting for people that are standing on the ground.”
Bike stalls and AutoShare vehicles on site will make car ownership virtually unnecessary, especially with so many amenities within walking distance, such as the Air Canada Centre and Rogers Centre, waterfront attractions and the entertainment and financial districts.
“It's like living in New York, but being in Toronto,” Mr. Fenton says.
Residents will have indoor access to Union Station and underground shops and services via the PATH system, including a future Longo's supermarket across the street at Maple Leaf Square.
The latter is another large-scale development by Lanterra and Cadillac Fairview – along with Maple Leaf Sports and Entertainment – that will become Canada's only mixed-use sports and entertainment complex. “Because of the size of the property, it allows you to offer a lot of things that other sites couldn't,” Mr. Fenton says. “We're creating cities within cities.”
Exclusive to residents will be a spa with an indoor pool, a cold-water plunge pool, hot tub, dry sauna and steam rooms, as well as a gym, massage rooms and a fitness studio. Other amenities will include party lounges, a dining room and full-service kitchen.
Individual suites will be smaller than those in the first phase, but still range from studios to three-bedroom layouts with studies.
“There are a lot of smaller two-bedroom units,” Mr. Fenton says. “A good chunk of units are approximately 700 square feet with one bedroom and one den.”
However, interior appointments will be as lavish as the first tower, with nine-foot ceilings, engineered hardwood floors and marble, ceramic or porcelain-tile finishes.
Green features will be incorporated into each unit, from stainless steel energy-efficient appliances to low-emitting materials, paint and adhesives.
Monthly fees will be 55 cents a square foot plus hydro.
Occupancy is slated for February, 2014.
