Vaughan Transit City Condos | 176.17m | 55s | CentreCourt | Diamond Schmitt

[amnesiajune]

Developers must be fudging the sales figures and keeping huge blocks for themselves. Right now this is the armpit of the GTA.

Queen's Quay East was "the armpit of Toronto" five years ago. Cityplace was "the armpit of Toronto" ten years ago. Humber Bay was the armpit 15 years ago. Queens Quay West was the armpit 20 years ago.

Maybe this comes as a shocker, but a lot of people want to live close to the subway and don't care about the "status" that they lose from living in Vaughan. In all these subway condo centres you get much larger units for a lot less than you'd pay downtown, and you don't have to worry about the cost/availability of parking, which is pretty important if you don't work downtown.

 

[maestro]

Okay. Cityplace was at most a 44 acre armpit beside a vibrant core . This is warehousing, big box, and single family developments for miles and miles. One day it will be the mixed use city centre but anyone buying today will have long moved on. You seriously don't find it odd that this is the hottest selling area in the entire metro right now? These very large towers sell out overnight will barely any marketing and with no zoning approval? Naw, I think you have institutions connected to the property owners and/or overseas gobbling up all the suites. It's good publicity for the City of Vaughan as it gets the towers built years ahead of time. It's definitely good for SmartREIT, etc. stock values and raising capital . It may or may not be good for the few purchasers buying the leftovers for themselves. Depends if the market holds up.

 

[innsertnamehere]

There are a lot of amenities in the area today already though - just all car accessible. It's not like there is nothing around, these are smack dab in one of the largest shopping areas in the GTA.

 

[OakvilleGreg1]

Okay. Cityplace was at most a 44 acre armpit beside a vibrant core . This is warehousing, big box, and single family developments for miles and miles. One day it will be the mixed use city centre but anyone buying today will have long moved on. You seriously don't find it odd that this is the hottest selling area in the entire metro right now? These very large towers sell out overnight will barely any marketing and with no zoning approval? Naw, I think you have institutions connected to the property owners and/or overseas gobbling up all the suites. It's good publicity for the City of Vaughan as it gets the towers built years ahead of time. It's definitely good for SmartREIT, etc. stock values and raising capital . It may or may not be good for the few purchasers buying the leftovers for themselves. Depends if the market holds up.

The financing institutions will ensure that the sales are "real". Just because you may not want live in Vaughan doesn't mean that thousands of others might want to. There are 10s of thousands of jobs in the north GTA, and young people working up there may not want to commute from the downtown/water front to get to work. The success of adjacent developments (Weston Rd, Jane Street, etc.) validates the market a great extent.

 

[innsertnamehere]

vaughan has I would imagine a huge untapped multi unit residential market too. Up until 5 years ago or so, there was essentially no multi unit residential in the municipality. A lot of this is probably playing catch up in terms of housing stock - lots of people who want to live in vaughan who couldnt previously afford to.

 

[amnesiajune]

You seriously don't find it odd that this is the hottest selling area in the entire metro right now?

No. I don't see anything odd about people wanting to buy a home that's right next to two major highways and a subway line that goes directly to downtown.

Naw, I think you have institutions connected to the property owners and/or overseas gobbling up all the suites.

Ah, the Chinese foreign buyer boogeyman.

 

[maestro]

This isn't Vancouver. They are from everywhere around the globe. They aren't simply buyers. They are project investors. It's happening all over Toronto too.

.

 

[maestro]

vaughan has I would imagine a huge untapped multi unit residential market too. Up until 5 years ago or so, there was essentially no multi unit residential in the municipality. A lot of this is probably playing catch up in terms of housing stock - lots of people who want to live in vaughan who couldnt previously afford to.

Possibly but, not in the terms of thousands of units. You would of have the Tridels, the Daniels, the De Cotiis', etc. move in long ago. Instead you have had investment vehicles like Liberty and Times building just about everything in York Region.

Let's move on. It was just a one off comment. I'm not on UT to discuss it.

 

[innsertnamehere]

The architectural plans have this at 176m. This would be by far the tallest building in York Region, and make Vaughan the "7th tallest municipality" in Canada. It would beat out Mississauga, if Mississauga didn't have the M City Buildings planning to beat it out.

edit: This is also only for phase 1 and 2. Phase 3 looks slightly taller, but there aren't any plans available online for that one yet.

 

[strookie]

On Monday, crews fenced off the empty field at the southwest corner of Jane and Portage, and they're working hard clearing off the topsoil. Does anyone know what project is happening there? There is no advertising there, save for a sign advertising Transit City, which is the project going up between the Wal-Mart and the regional bus terminal, not this field.

 

[raptor]

On Monday, crews fenced off the empty field at the southwest corner of Jane and Portage, and they're working hard clearing off the topsoil. Does anyone know what project is happening there? There is no advertising there, save for a sign advertising Transit City, which is the project going up between the Wal-Mart and the regional bus terminal, not this field.

It will be a "temporary surface commercial parking lot consisting of 972 parking spaces"

 

[strookie]

It will be a "temporary surface commercial parking lot consisting of 972 parking spaces"

Absolutely hilarious. I guess Wal-Mart complained that the Transit City Condos project took away too much of their prized parking space. I'll have to admit that I've completely avoided shopping there since then because it's quite cumbersome negotiating through the parking lot right now. Plus, those poor truckers have no place to park anymore. One would think that this would be the opportune time to force the neighbourhood into a denser urban living mindset.

 

[innsertnamehere]

the lot is to service the YMCA and act as a commuter lot for the subway. It'll be paid parking.

 

[narduch]

Absolutely hilarious. I guess Wal-Mart complained that the Transit City Condos project took away too much of their prized parking space. I'll have to admit that I've completely avoided shopping there since then because it's quite cumbersome negotiating through the parking lot right now. Plus, those poor truckers have no place to park anymore. One would think that this would be the opportune time to force the neighbourhood into a denser urban living mindset.

That Walmart actually isn't even very busy anymore.

 

[innsertnamehere]

Arch Plans are up for Phase 3, measuring 178.75m to the top of the mechanical penthouse. 2-3 retail spaces along Portage Parkway, though quite shallow. No underground parking to allow for the potential future extension of the subway line. 6 level parking garage.