Toronto Fly Condos | ?m | 24s | Empire | Graziani + Corazza

Considering land is really scarce in HK compared to TO where parking lots and under-used density is bountiful in comparison, I would think there's more land value associated with HK properties.

Yet why would TO command the same $$$?

Well, I think several factors might come into play. Materials and labour are probably cheaper there. Also government fees (taxes, permits, city donations, etc) are probably lower. And they do things much faster. What takes us 3 years, they could probably do it in one year. HK also does not have winters, hence their fast production rate. Our construction is only good half the year and slows down the other half. I'm not sure if Chinese with better budgeting and management would have any affect on it too. Comparing HK and here, we are snails.
 
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from today's Star, some good news on the sales front....

Affordability helps sales take flight

'Confidence is slowly seeping back' says developer after prime site launch goes well
May 16, 2009

Comments on this story (0)

Tracy Hanes


TORONTO STAR


The success of the Fly condominium launch last weekend could be a harbinger that confidence is returning to the market, says Paul Golini, Empire Communities executive vice-president. Despite wet and windy weather, Fly's opening weekend resulted in sales of 330 of 458 suites offered at the 352 Front St. W. site, between Blue Jays Way and Spadina Ave. The 24-storey glass and metal modern tower designed by Graziani & Corazza Architects will be across from the Rogers Centre and within walking distance of restaurants and nightlife, sports venues, the theatre and financial districts.

"It was fabulous, it was inspiring," says Golini of the opening. "Price, product and location came together at the right time.

"There have been enough good news stories in the media the past couple of weeks and we're seeing evidence of the 'green shoots' we hear about.

"That has improved people's general psyche and confidence is slowly seeping back."

Affordability was a key factor in generating sales for Fly, says Golini. Last fall, as the real estate market faltered, Empire decided to conduct an in-depth consumer study and as a result, redesigned the project to offer smaller suites that would appeal to first-time buyers and investors.

Units range from 494 square feet to 1,112 square feet and are priced from $210,900 to the mid-$500,000s. More than 60 per cent of the suites are less than $300,000. Occupancy will be in 2012.

"We wanted people to feel they were buying at the right price and be confident that they won't get a better price six months down the road, so we went out with our best offer and in the end, got the response," says Golini.

"The general sentiment is that it is a safe location, a safe investment."

Though buyers have a 10-day "cooling off" period to rescind their offer, Golini doesn't expect many to do so.

But any that do will be offset by a waiting list for some suites that have already been sold.

Traffic continues to be steady in the sales office and Golini says if the project continues to sell well, "it would be a great story for us, for the city and for other builders.

"Maybe we're setting a trend."

Rather than including a huge range of amenities, Empire decided to focus on a few key ones, including a state-of-the-art fitness centre, multimedia room and an inviting lobby.

Diesel Fitness and Level V founder George Chaker designed the fitness centre that opens on to two Zen gardens and has the latest workout equipment, a yoga and Pilates studio, spinning area, sauna and juice bar.

The dramatic two-storey lobby, designed by Munge Leung Design Associates, features a second-level lounge that opens onto a landscaped courtyard, sculptural seating, cut-glass columns and origami-style metal birds.

Other amenities include 24-hour concierge and guest suite.

Suites feature a balcony or terrace; contemporary kitchens with stainless steel appliances, granite countertops and glass tile backsplash; master baths with cultured marble integrated sink, soaker tub or framed glass shower; plank laminate engineered flooring in the living room, dining room, kitchen and den (as per plan), ceramics and porcelain tiles; stacked white washer and dryer; plus phone and data cable wired to allow for in-suite networking.

Fly will connect to Clarence Square, one of the city's oldest parks, via a landscaped promenade.

The sales centre is in Empire's new Condo Living Store at 49 Spadina Ave., just north of Front (entrance on the north side of building facing Clarence Park).

It also serves as sales gallery for Empire's Schoolhouse, and Beyond The Sea and Star Tower at Beyond The Sea condos.

Hours are Monday to Friday from 12 p.m. to 7 p.m.; weekends and holidays from 11 a.m. to 6 p.m.

Visit flycondos.com, or call 416-979-1333.
 
from today's Star, some good news on the sales front....

Affordability helps sales take flight

'Confidence is slowly seeping back' says developer after prime site launch goes well
May 16, 2009

Comments on this story (0)

Tracy Hanes


TORONTO STAR


The success of the Fly condominium launch last weekend could be a harbinger that confidence is returning to the market, says Paul Golini, Empire Communities executive vice-president. Despite wet and windy weather, Fly's opening weekend resulted in sales of 330 of 458 suites offered at the 352 Front St. W. site, between Blue Jays Way and Spadina Ave. The 24-storey glass and metal modern tower designed by Graziani & Corazza Architects will be across from the Rogers Centre and within walking distance of restaurants and nightlife, sports venues, the theatre and financial districts.

"It was fabulous, it was inspiring," says Golini of the opening. "Price, product and location came together at the right time.

"There have been enough good news stories in the media the past couple of weeks and we're seeing evidence of the 'green shoots' we hear about.

"That has improved people's general psyche and confidence is slowly seeping back."

Affordability was a key factor in generating sales for Fly, says Golini. Last fall, as the real estate market faltered, Empire decided to conduct an in-depth consumer study and as a result, redesigned the project to offer smaller suites that would appeal to first-time buyers and investors.

Units range from 494 square feet to 1,112 square feet and are priced from $210,900 to the mid-$500,000s. More than 60 per cent of the suites are less than $300,000. Occupancy will be in 2012.

"We wanted people to feel they were buying at the right price and be confident that they won't get a better price six months down the road, so we went out with our best offer and in the end, got the response," says Golini.

"The general sentiment is that it is a safe location, a safe investment."

Though buyers have a 10-day "cooling off" period to rescind their offer, Golini doesn't expect many to do so.

But any that do will be offset by a waiting list for some suites that have already been sold.

Traffic continues to be steady in the sales office and Golini says if the project continues to sell well, "it would be a great story for us, for the city and for other builders.

"Maybe we're setting a trend."

Rather than including a huge range of amenities, Empire decided to focus on a few key ones, including a state-of-the-art fitness centre, multimedia room and an inviting lobby.

Diesel Fitness and Level V founder George Chaker designed the fitness centre that opens on to two Zen gardens and has the latest workout equipment, a yoga and Pilates studio, spinning area, sauna and juice bar.

The dramatic two-storey lobby, designed by Munge Leung Design Associates, features a second-level lounge that opens onto a landscaped courtyard, sculptural seating, cut-glass columns and origami-style metal birds.

Other amenities include 24-hour concierge and guest suite.

Suites feature a balcony or terrace; contemporary kitchens with stainless steel appliances, granite countertops and glass tile backsplash; master baths with cultured marble integrated sink, soaker tub or framed glass shower; plank laminate engineered flooring in the living room, dining room, kitchen and den (as per plan), ceramics and porcelain tiles; stacked white washer and dryer; plus phone and data cable wired to allow for in-suite networking.

Fly will connect to Clarence Square, one of the city's oldest parks, via a landscaped promenade.

The sales centre is in Empire's new Condo Living Store at 49 Spadina Ave., just north of Front (entrance on the north side of building facing Clarence Park).

It also serves as sales gallery for Empire's Schoolhouse, and Beyond The Sea and Star Tower at Beyond The Sea condos.

Hours are Monday to Friday from 12 p.m. to 7 p.m.; weekends and holidays from 11 a.m. to 6 p.m.

Visit flycondos.com, or call 416-979-1333.
Weather shrinking the unit size is a successful strategy is yet to be test further, as U Condo has announced a grand opening on June 5 for its new URBAN DESIGN suite, which is a fancy name of tiny studio and one bed room. The smallest unit is a micro studio with a mere 325 sqf and asking for $219,000. That is $674 per square foot! I wonder if they can use "FROM LOW $200K" to attract any serious first time home buyer who have been sitting on fence.
 
... its new URBAN DESIGN suite, which is a fancy name of tiny studio and one bed room. The smallest unit is a micro studio with a mere 325 sqf and asking for $219,000. That is $674 per square foot! ...

at that size and price ... seriously why bother?
has TO become that INSANE???
 
Toronto also does not have the same density as many larger cities. However, most Toronto new condo developments provide a really good selection on finishes that other cities don't offer for their new condo projects. I think this is where we get the better deals.
 
Toronto has always been cheap. Don't compare us to another city.

And yes prices will continue to flat line or fall lower. Check the unemployment #s in Canada, they are still massive. Let the GM bankruptcy sink in so we can put in a bottom before people start to spend and hire again. No the world isn't going to end, but fear is a powerful thing.

FLY's psf for a building going up in '12 is pretty good...but let's hope it gets built :)

Yeah.. but then again Toronto when compared to similar world cities, is still one of the cheapest places on this planet to buy a condo.:)
 
If they sold 330 out of 458, that's 72%. These are still in the recission period and some of them will probably be withdrawn, but others will be sold in the next few weeks. I think these people have adopted the right marketing appraoch for the times.

Some buildings now in sales will be postponed or outright cancelled, but I don't think this will be one of them. I like the location, as well as the marketing, and I think it will get built, on schedule.
 
I was in there today. Although I'm not a fan of the layouts, the kitchen finishes are great IMO. Built in oven/stove top, built in microwave below the counter...undermount sink, etc. A lot of suites have sold. I'm hoping someone brings back the bachelor suite for 159K. That's a great buy IMO.
 
I was in there today. Although I'm not a fan of the layouts, the kitchen finishes are great IMO. Built in oven/stove top, built in microwave below the counter...undermount sink, etc. A lot of suites have sold. I'm hoping someone brings back the bachelor suite for 159K. That's a great buy IMO.

Are those upgrades though or standard? What you see and what you get might be different.
 
Are those upgrades though or standard? What you see and what you get might be different.
I know, which is why I asked. I was with someone who bought a place so we went over everything. The only difference will be the appliance package....(ie: no bloomberg fridge)

There are 2 displays for both the bathroom and the kitchen. There's a standard version and an upgrade version.
 
why is that?

Can someone help to explain the rationale of this?


The occupancy period is normally 3-6 months, but the higher up you are in the building, the shorter the occupancy period will be. So if you buy a unit on the ground floor, you can expect a long occupancy period. If you buy the penthouse, you will likely have a very short occupancy period.
 
Don't confuse occupancy date with closing date. You may live on the lower floors, so you move in and "occupy" your unit at an earlier date on a "rent" basis; ownership of the unit has not changed hands. Once the building is registered with the city (when a certain percentage of people have moved in and occupied their units), closing arrangements will commence, and it starts with the people on the lower floors working its way up. Hence, if you bought a unit on a high level, your occupancy date and closing date may be the same date.

From your above statement, occupancy period means living on a rent-basis.

Hope that helps.
 
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