Toronto Market Wharf | 110.33m | 33s | Context Development | a—A

Zak said:
I understand that the area has more to offer, however, I don't understand why someone would invest $450K in a 2 bedroom apartment near low income housing when they can invest the same amount (or less) and be on or near King West or Front St West. There is still much going on in these areas.

That being said, would the appreciation and rental potential be as high at Market Wharf versus other areas such as King West?
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Believe it or not, this area is considered a lot more prestigious than King West and easily competes with Yorkville in terms of status. Appreciation and rental potential would be higher than KW.

There is no reason to be afraid of low income housing in this area or the future TCH developments in Cityplace (which is not "safer"). I want to slap people who make those kinds of assumptions without actually experiencing a neighbourhood. I say this not to offend, but to demonstrate how strongly I feel about this issue. I mean, if you don't feel safe living here, you might want to consider a nice, quiet, churchy town like Uxbridge.
 
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riley said:
Hey MikeitTO, Can you elaborate on the "difficulties"? I really like this project and hoped it would go through. It would be a shame if it was abandoned.
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Sorry, I'm not going to delve into the subject any further. I agree that it would be disappointing if the project doesn't go forward.
 
Zak said:
I understand that the area has more to offer, however, I don't understand why someone would invest $450K in a 2 bedroom apartment near low income housing when they can invest the same amount (or less) and be on or near King West or Front St West. There is still much going on in these areas.

That being said, would the appreciation and rental potential be as high at Market Wharf versus other areas such as King West?
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Zak: You do seem to have a VERY warped idea about the area surrounding Market Wharf and if you are interested in property - as in investment or a place to live - you are not likely to do very well if you don't work hard to understand the local environment a bit more. You say in another post "I am no expert on real estate, and am looking for an investment" - if you do not become an expert you are not likely to make good investments.

As others have said, the St Lawrence Market Neighbourhood is seen by many as a model community with a mixture of types of housing and kinds of residents. Many people enjoy this, you seem to find it threatening. Your loss!
 
grey said:
Believe it or not, this area is considered a lot more prestigious than King West, and easily competes with Yorkville in terms of status.
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I am not sure if King East is a lot more prestigious that King West. The price per square foot in King West is far more expensive that King East with the exception of Spire. I am not sure what the prices are now for Market Wharf, but when I went to the opening the tower suites were insanely overpriced. I think they have not considered that the location of market Wharf cannot be compared with Spire's
 
I meant the St. Lawrence neighbourhood (Old Toronto) in general versus King West, not King West versus King East.
 
Automation Gallery said:
I dont know why but the west-end propertry values per sq.foot in this city in compareism to the east-end is usually higher.
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I asked why the west-end dt commanded more than the east-end dt of 'housing expert' Jane Renwick one day and she couldn't give me an answer other than it was considered more 'desirable'.

At that time, there was ~$50 PSF premium in 2008 for pre-construction of $450 vs. $500. I don't know if that value is constant or maybe a % (ie 10%).

Personally, I would rather be in St. Lawrence Market area vs. Cityplace(CP),which is also about 3 blocks away from financial district.

IMO, CPs desirability comes from overseas investors buying into their projects although the newer towers on the west side of Spadina are better looking than the east side. Not sure about quality though.

I had a co-worker who checked out the east buildings looking to buy and he noted that the noise insolation from the windows was very poor.
 
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cdr108 said:
I asked why the west-end dt commanded more than the east-end dt of 'housing expert' Jane Renwick one day and she couldn't give me an answer other than it was considered more 'desirable'.

At that time, there was ~$50 PSF premium in 2008 for pre-construction of $450 vs. $500. I don't know if that value is constant or maybe a % (ie 10%).

Personally, I would rather be in St. Lawrence Market area vs. Cityplace(CP),which is also about 3 blocks away from financial district.

IMO, CPs desirability comes from overseas investors buying into their projects although the newer towers on the west side of Spadina are better looking than the east side. Not sure about quality though.

I had a co-worker who checked out the east buildings looking to buy and he noted that the noise insolation from the windows was very poor.
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Maybe it's me but I don't count Cityplace as part of the "desirable west end"

Cityplace is stuck between rail tracks and the gardener. No mans land. I think Wellington-Queen, University-Bathurst, is the desirable part of the west end. That's how I feel at least.
 
East vs West have evened out fairly considerably over the last decade. In the previous boom cycle there was an invisible line running down Yonge street and virtually no developers tread east of that line. Things have blurred considerably over the most recent cycle.
 
The developers of Market Wharf are now proposing a two-phase plan. It is coming to Toronto and East York Community Council on 21 April.

Phase 1, Building A (to start in summer 2009) is the eight storey podium with approximately 105 apartments. Phase 2 / Building B is a 33 storey apartment building with approximately 349 units. Details are at: http://www.toronto.ca/legdocs/mmis/2009/te/bgrd/backgroundfile-20291.pdf
 
^^^

We have and will continue to see this occurring for projects during this economic downturn.
 
i think this is good news. by working in phases, the city still fills a bunch of empty lots and is afforded new public space. constructing a building over many years may also call for new designs.
 
DSC said:
The developers of Market Wharf are now proposing a two-phase plan. It is coming to Toronto and East York Community Council on 21 April.

Phase 1, Building A (to start in summer 2009) is the eight storey podium with approximately 105 apartments. Phase 2 / Building B is a 33 storey apartment building with approximately 349 units. Details are at: http://www.toronto.ca/legdocs/mmis/2009/te/bgrd/backgroundfile-20291.pdf
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By "apartments" do they mean sale or rentals?
 
^^


I assume by "apartments" he's implying the type of dwelling and not the ownership structure.
 
DSC said:
The developers of Market Wharf are now proposing a two-phase plan. It is coming to Toronto and East York Community Council on 21 April.

Phase 1, Building A (to start in summer 2009) is the eight storey podium with approximately 105 apartments. Phase 2 / Building B is a 33 storey apartment building with approximately 349 units.
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I assume they will do one big dig and have the foundation in place for the second phase.
 
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