Toronto Couture The Condominium | ?m | 42s | Philmor | Graziani + Corazza

We won't likely see that here ... a lot of those projects in the states went up with minimal to non existent presales ... that's never the case here (hardly ever ...) you'll never see it in this market at the very least.

The number of unsold units seems alarming at first but I'm not sure that's really the case ...

You'd really need to see the stats for the last 5 - 10 years. I would guess even in the middle of the boom i.e. 1/2 years ago there was still a very large number of unsold units. If you have hundreds of projects ... all of which at 60-80% sold, that still leaves a lot of unsold units.

The market will correct here in a reasonable manner I suspect. We'll likely see a lot of projects that just started sales or are in pre-sales get canceled next year. A few projects that have been in sales for a while canceled ... more likely postponed.

Most important though ... very few new proposals. Or at the very least proposals that plan to go into sales immediately.

At the heart of the US crisis was several factors:
1) huge amounts (I can't begin to explain this) of sub prime morgate lending ... this carries forward to things like credit cards as well (not so apparent yet) < this we probably have quite a bit in Canada as well, most of the western world actually ... anyway that's another story.
2) construction purely based on projected future demand.

Although we've seen a bit of (2) here there's a lot less of (1).
 
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Penthouse units "to be released"

I checked the prices of the penthouse units on the Couture website and it looks like Monarch decided to take them off the market. They show up as "To be released". Any idea why? Also noticed that the 10,000$ discount does not show up anymore.:rolleyes:
 
janiv said:
I checked the prices of the penthouse units on the Couture website and it looks like Monarch decided to take them off the market. They show up as "To be released". Any idea why? Also noticed that the 10,000$ discount does not show up anymore.:rolleyes:
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This is possibly good news. Perhaps they are redesigning the PH suites into smaller units to sell the remainder of the building quicker. As for the 10K discount being removed it seems that this could bode well for this project also.
 
Meanwhile, over at Couture, not a creature was stirring, not even a mouse.

Click on the thumbnail to enlarge, then click again on the image for full size.

 
dt_toronto_geek said:
This is possibly good news. Perhaps they are redesigning the PH suites into smaller units to sell the remainder of the building quicker. As for the 10K discount being removed it seems that this could bode well for this project also.
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hmm...they seem to be doing the same thing with their Ultra condo. No word on the release of their Penthouse unites there.
 
luxome said:
No word on the release of their Penthouse unites there.
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The 4 suites which make up each PH level (43rd - 45th floors) have been released. I don't know where I got them from but I think it was Couture's website.
 
the penthouse suites (4 per floor) of Coulture were released on Monarch's website sometime last year, but were pulled off when the market tanked ... not sure if they are being redesigned to smaller units or simply held back for future release
 
May 3 Update

Couture site from above (directly north of the X site). No action, hopefully soon.

Click on the thumbnail to enlarge, then click again on the image for full size.

 
jmacmillan said:
"The stunning model suite at Couture at Bloor and Jarvis will be shutting down next month to make way for construction of the 44-storey condo tower..." (Toronto Sun New Homes & Condominiums, September 5 & 7, 2008, page 4)
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Today I was thinking of this post as I photographed the north side of X and of another post (that I can't find) which stated something like Couture couldn't begin digging until X was out of the ground. Then this arrived in my email at 8:15pm from a friend, Couture's sales office catches fire -

photo.jpg
 
oh no ... i hope the fire wasn't big.

i'd hate to see it cause smoke damage and delays to X ... hehehe :D
 
Are we sure that's not a car fire on the street in front of the model? The smoke looks a bit black for a building fire.

Or did you actually see the fire in the building?
 
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