Toronto Bauhaus Condos | 110.9m | 32s | Lamb Dev Corp | a—A

Looks like Lamb has terminated all the previous sales contracts for this project, or at least most of them.

Got an email today from them saying that they're now selling "Phase 1" of units:


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From an email by Lamb Dev. Phase 1 is now sold out, moving on to the second phase.

Construction expected to start later this year in September:


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Based on the ads I get in my email (I'm not sure why I don't unsubscribe), I get the distinct impression that Brad Lamb has become too cheap to even hire graphic designers anymore.

The dude strikes me as becoming more and more aggressively focused on deriving greater returns from his "product" (as opposed to his "legacy") as time goes on.
 
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The current price for the two 600+ sf units isn't entirely unconscionable given the current market and 600+ sf is very liveable for 1-2 people. It's also steps away from No Frills on Front if you need to budget afterward. Lol
 
I'm sorry but the prices are absolutely laughable. A lot of people are going to be hurting when the market tumbles and I'm far from a bear. At some point there's only so much juice you can squeeze from a lemon. How many couples making a combined $300K+ exist? Salaries are still fairly low here. I don't understand it.
 
TheKingEast said:
I'm sorry but the prices are absolutely laughable. A lot of people are going to be hurting when the market tumbles and I'm far from a bear. At some point there's only so much juice you can squeeze from a lemon. How many couples making a combined $300K+ exist? Salaries are still fairly low here. I don't understand it.
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And how many couples making a combined $300K+ want to live in a 622 square foot cookie cutter condo. These prices are asinine.
 
We're at a point where for many parts of the city, precon prices have now gotten more expensive than already built re-sale units on the market.

But resale prices are escalating quickly too, especially from what I've seen this month in January 2022. For units that you may find a few months back in Oct-Dec 2021 in the $500-700k range, they're all pushing up into the next $100k bracket. I've seen a 1-bed resale listed at $650k sell for at $785k within the Daniels Lighthouse West Tower last week.

1+dens that are listed to start in the mid-$600s to mid-$700s will inevitably sell in the low to mid-$800s based on ongoing trends I've seen as well.

2-beds are now hovering around the $1 million-mark, but appear to be generally slower movers on the market.
 
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saynotofaux said:
And how many couples making a combined $300K+ want to live in a 622 square foot cookie cutter condo. These prices are asinine.
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I think they'd be looking at a 1000 sqft unit but even with that, your point is still valid. It's lunacy. And to watch builders and Agents twists themselves into pretzels to make sense of these prices make my eyes hurt.
 
AlbertC said:
We're at a point where for many parts of the city, precon prices have now gotten more expensive than already built re-sale units on the market.

But resale prices are escalating quickly too, especially from what I've seen this month in January 2022. For units that you may find a few months back in Oct-Dec 2021 in the $500-700k range, they're all pushing up into the next $100k bracket. I've seen a 1-bed resale listed at $650k sell for at $785k within the Daniels Lighthouse West Tower last week.

1+dens that are listed to start in the mid-$600s to mid-$700s will inevitably sell in the low to mid-$800s based on ongoing trends I've seen as well.

2-beds are now hovering around the $1 million-mark, but appear to be generally slower movers on the market.
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It just doesn't make sense to me. When a recession or downturn hits people will be even more impacted because it's easier to pay a $1300/month mortgage than it is to pay a $3000/month mortgage. Unemployment won't even cover a 1/3 of the mortgage payment. I hope people save up.
 
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