Toronto Karma Condos | 165.8m | 50s | Lifetime | a—A

I don't have a problem with any sized unit anywhere, however I think that there should be a wider variety of "livable" suite sizes in any given building from a student sized bachelor (no parties in there!) to decent family sized units that don't soar into the 3/4 million range. Many buildings succeed very well there but in more and more buildings downtown we're seeing floorplans get smaller and smaller and because of the floor to ceiling glass rage right now, those stupid pillars are awkwardly placed in rooms thus limiting how furniture can be placed in smaller spaces. Some developers will allow a purchaser to buy two suites side by each (or above each other) at pre-construction to redesign into a larger home, but some won't.
 
Bayer said:
That's what I thought when I saw this.

k819.JPG
Click to expand...

I have downloaded another floor plan for K819 -- a 2 bedroom & den unit. Basically, 3rd bedroom, next to washer/dryer has been replaced by another bathroom and a den.

I guess builder will go with whichever floor plan sells.
 
I guess you give, give, give, and its still not enough to get your 52 storeys.

It’s all about the Karma: Developers give back

Condo developers tend to boast that their projects will give something back to the communities in which they’re being built. With Karma Condos, though, this is truly the case.

As part of the marketing campaign for Karma, a 52-storey, 508-unit glass tower to be built at 21 Grenville Street — just west of Yonge Street and a block north of College Street —Lifetime Developments and CentreCourt Developments will be donating $5 to local charities for each person who registers on the project’s website.

The money raised will go to support one of three charities of the registrant’s choosing: Wellspring, a network of community-based cancer support centres; Sketch, an organization that provides opportunities for homeless or at-risk youth to engage in the arts; and Ronald McDonald House Toronto. (Go to www.karmacondos.com to register.)

Funds for Ronald McDonald House — a refuge for critically ill children and their families here from out of town to receive specialized treatment at the Hospital for Sick Children and Mount Sinai Hospital — will go toward the adoption of a private room at a new 28-room facility that’s just being completed at 240 McCaul St., the largest Ronald McDonald House in the world.

“I think this is a terrific example of a developer looking for ways to resonate with their target audience while benefitting somebody else at the same time. So it’s really a win-win all around,†says Jane Marco, executive director of Ronald McDonald House Toronto. “It’s a different kind of approach,†she adds. “We’ve had philanthropic support from developers before, but never in this sort of fashion.â€

At the downtown Toronto Wellspring Centre, funds from the Karma registrations will help purchase specialized rehabilitation equipment. And Sketch will use the Karma money to furnish a studio for theatre arts, martial arts, dance and meditation.

“We thought (the registration fundraiser) would be a unique way to engage registrants,†says Andrew Hoffman, president of CentreCourt Developments. “It allows them to choose a local charity that we’re passionate about, and it encourages even greater support for those charities over time through awareness and exposure to them.â€
More................http://www.yourhome.ca/homes/reales...it-s-all-about-the-karma-developers-give-back
 
Perhaps they should give us a better building instead of a glass-clad collection of chicken cages.
 
Automation Gallery said:
Condo developers tend to boast that their projects will give something back to the communities in which they’re being built. With Karma Condos, though, this is truly the case.

As part of the marketing campaign for Karma, a 52-storey, 508-unit glass tower to be built at 21 Grenville Street — just west of Yonge Street and a block north of College Street —Lifetime Developments and CentreCourt Developments will be donating $5 to local charities for each person who registers on the project’s website.
At the downtown Toronto Wellspring Centre, funds from the Karma registrations will help purchase specialized rehabilitation equipment. And Sketch will use the Karma money to furnish a studio for theatre arts, martial arts, dance and meditation.

“We thought (the registration fundraiser) would be a unique way to engage registrants,†says Andrew Hoffman, president of CentreCourt Developments. “It allows them to choose a local charity that we’re passionate about, and it encourages even greater support for those charities over time through awareness and exposure to them.â€
More................http://www.yourhome.ca/homes/reales...it-s-all-about-the-karma-developers-give-back
Click to expand...

Wow - $5 each - do they realize if everyone registers that could add up to a staggering $ 2,540

These guys really know how to give it to the community don't they?

Excuse me, I'm tearing up.
 
Last edited:
Just out of curiosity, does anybody know how much profit is made by developers, from an average 1 bedroom condo, in downtown Toronto?
 
Well, if we want to go by the profit margins of consumer goods, we should want the profit margins to be *high* if we want quality. High quality goods have high profit margins for the manufacturers because fewer products are sold and the risk is higher on each product. Commodities have low profit margins, and they have attendant low quality and low risk. So, is the concern that the buildings be built well or that the developers not make a profit? Because if we want the buildings to be made well, we should hope that they are making a large profit and that all buildings built are luxury developments.

Of course, this won't be the case because most buildings need to serve the mass market. But I'm guessing that the profit margin on a $10 million penthouse is probably more than 10x higher than the profit margin on a $400,000 1 bedroom apartment.
 
Big Daddy said:
Wow - $5 each - do they realize if everyone registers that could add up to a staggering $ 2,540

These guys really know how to give it to the community don't they?

Excuse me, I'm tearing up.
Click to expand...

What, developers suddenly cut off their registration lists when the number of units they have for sale has been reached? I think not.

A registration does not necessarily mean a sale, and since it costs nothing to register, why bother railing against these guys for donating money to what are worthy charities. Sure it's a marketing poly, but they are being naked about that, and I don't think they are asking you to tear up.
 
Posts regarding prices at Karma have been moved to the Real Estate thread here.
 
WiddleBittyKitty said:
What, developers suddenly cut off their registration lists when the number of units they have for sale has been reached? I think not.

A registration does not necessarily mean a sale, and since it costs nothing to register, why bother railing against these guys for donating money to what are worthy charities. Sure it's a marketing poly, but they are being naked about that, and I don't think they are asking you to tear up.
Click to expand...

My point is they are not giving much for all the almost free publicity they get for appearing to be such great benefactors.
 
Big Daddy said:
My point is they are not giving much for all the almost free publicity they get for appearing to be such great benefactors.
Click to expand...

Dont forget Section 37 of the City Planning Act.

Before introducing the necessary Bills to City Council for enactment, City Council require
the owner of the lands at 9-21 Grenville Street to enter into an Agreement pursuant to
Section 37 of the Planning Act, to be registered on title, to the satisfaction of the City
Solicitor, to secure the following:

a. Prior to the issuance of the first above-grade permit, pay to the City the sum of
$1,800,000 consisting of $950,000 towards improvements to the College Subway
station and Wellesley Subway station, $500,000 towards the upgrade of St. Luke
Lane and $350,000 towards widening the sidewalks on Grenville Street and Wood
Street.

b. Require that the cash amounts identified in a) above shall be indexed annually in
accordance with the Non-Residential Construction Price Index for the Toronto CMA,
reported quarterly by statistics Canada in Construction Price Statistics Publication
No. 62-007-XPB, or its successor, calculated from the date of execution of the
Section 37 Agreement to the date of submission of the funds by the owner to the
City.

c. A public art contribution in accordance with the Percent for Public Art Program for a
value not less than one percent of the gross construction cost.

The following matters are also recommended to be secured in the Section 37 Agreement as
a legal convenience to support the development:

More,,,,,,,,,,,,,,,,,http://www.toronto.ca/legdocs/mmis/2011/te/bgrd/backgroundfile-41026.pdf

Also dont forget the city required that

8. The owner shall provide a minimum of ten percent (10%) of the residential
units in the building having at least three bedrooms.
 
Last edited:
Big Daddy said:
My point is they are not giving much for all the almost free publicity they get for appearing to be such great benefactors.
Click to expand...

Come on guys. They are not giving that much. However they are giving that much more than other developments that are giving nothing - zippo - zero - SFA!
Why pick on the guy that's at least doing something for the community.
 
You must log in or register to post here.

Back
Top