Regent Park isn’t just undergoing a massive physical transformation, it is experiencing a social transformation too. Though the replacement of much of the older housing stock is not complete yet, the housing project stigma which has haunted the area for decades is crumbling away faster than any Victorian fixer-upper ever could. The low-slung post-war, and medium-high-rise 1960s social housing buildings which once dominated the area are quickly being supplanted by mixed-income residential towers and modern townhomes. The spaces where unkempt lawns once fronted onto Dundas are now occupied by storefronts, restaurants, cultural facilities and active lobbies. New recreational venues are proving to be fantastic too.
The Toronto Community Housing-led revitalization, currently well into its second phase, has involved significant private investment through residential condominium and community facility development by The Daniels Corporation. In late April, we were afforded the opportunity to tour the first phase of Daniels’ One Park Place, which had recently topped off just to the east of the Daniels Spectrum. Now, two warm and muggy months later, the white aluminum cladding now reaches the top of the Hariri Pontarini Architects-designed tower, and balcony glass is following closely behind, now being applied roughly halfway up the building.
The red brick framed podium, which will contain a mix of retail, office, and residential along with rooftop amenity space, is looking close to complete from the outside, though plenty of work is still to be done both inside and out before residents can move in this October.
Immediately west of One Park Place, on what was just unveiled as Regent Park Boulevard, the recently piloted Regent Park Farmers’ Market is being held Wednesday afternoons until mid-autumn, and offers even more insight into the community programming and initiatives that Daniels has in store for future residents—and we'll cover the market more fully in its own article tomorrow.
Community initiatives aren’t the only factor drawing new home buyers to a once rental-only neighbourhood. The Daniels Corporation is offering financial incentives to those looking to purchase condominiums, many of whom will be homeowners for the first time. Through Daniels’ Gradual Deposit Payment Plan, buyers can get quite the deal on a number of suites at One Park Place's soon-to-complete first phase, priced from the low $300,000s, for only 5% down with a free locker and a year of free maintenance.
This is accomplished through a single fee of $3,500 with the Agreement of Purchase and Sale, then $1,000 each month until you reach 5% or occupancy. Daniels also offers a program called First Home BOOST, which enables qualified purchasers to increase their down payment from 5% to 15% through an interest-free, payment-free loan. More information on these deals can be found at Daniels’ Regent Park Presentation Centre at 500 Dundas Street East, www.danielsoneparkplace.com, or by calling 416-955-0559.
In the meantime, a 28-storey second tower that will complete One Park Place is under construction at the site, and registrations are now being taken for it, as you can see in the image above. For additional information about One Park Place, including building facts and renderings, please visit our dataBase page, linked below. Want to get involved in the discussion? Check out one of our associated Forum threads, or voice your opinion in the comments section provided on this page.
|Related Companies:||Cecconi Simone, Hariri Pontarini Architects, NAK Design Strategies, The Daniels Corporation|