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As Toronto's housing market shows promising signs of growth and improvement in 2024, a new development is poised to become a welcoming hub to the city's expanding population. LSQ2, the latest addition to the LSQ master-planned community by Almadev, fuses contemporary living with the latest in community design. This development, nestled where North York meets Scarborough at the intersection of Victoria Park Avenue and Sheppard Avenue East, is just 2km from Don Mills station on Sheppard Line 4.
In celebration of the Lunar New Year, Almadev has introduced the "2+2 at LSQ2" special incentive. Tailored to support the financial flexibility of buyers, the promotion offers a credit on closing that covers two years' worth of maintenance fees and property taxes. This gesture is not only a nod to the Lunar New Year's spirit of fortune and happiness but also a strategic move to make homeownership more accessible. The deposit structure is designed to ease the buying process, requiring only a 5% down payment per year.
The planned deposit schedule aims to simplify the investment process for prospective buyers. Initially, a deposit of $10,000 is required upon signing the purchase agreement, followed by an additional $20,000 within the subsequent 30 days. The balance to reach a total of 5% of the purchase price is then due in 120 days. This approach allows for a staggered payment system designed to accommodate the financial planning of buyers, with further instalments of 5% due at one year (365 days) and two years (720 days) respectively, without the need for any further deposits until the occupancy phase.
LSQ2 itself reflects modern architectural approaches and thoughtful community planning. The 30-storey tower, soaring to a height of 101.84m, will house 338 residential units. The tower's design, characterized by a distinctive zig-zag motif on its facade, is the work of Wallman Architects, with landscape design by Ferris + Associates Inc.
LSQ2’s design integrates retail space at ground level, opening up to an expansive outdoor courtyard. This space serves as a seamless transition to the community’s public park, which spans 1.2 acres and boasts public art installations, water features, a play area for children, and more.
The broader LSQ community spans a 15-acre domain destined to feature approximately 1,600 residences, including 160 affordable rental units, alongside 489,000 ft² of commercial space and over 100,000 ft² dedicated to parkland, retail, and social spaces.
Almadev's commitment to sustainable urban development is evident with the preservation of two office buildings, which have been recognized with BOMA BEST Sustainable Building certifications.
Residents of LSQ2 will benefit from an exclusive shuttle service to Don Mills subway station, alongside regular TTC bus service. The community's forward-looking infrastructure also includes on-site bike storage and electric vehicle charging stations. In addition, all parking stalls come equipped with the ability to be converted to EV parking. The anticipation of the Sheppard East LRT Extension, a 13km route which will further enhance access to the city, underpins the development's strategic positioning as a transit-oriented community. Drivers also have quick access to Highways 401 and 404/DVP.
Employment opportunities within the LSQ community and the surrounding area are set to expand, with the evolution of the ConsumersNext City Growth Mandate promising substantial residential density growth and the creation of 13,500 jobs in the Consumers Road Business Park, with 20,000 jobs already existing jobs in the park.
With its blend of residential, commercial, and public spaces, coupled with the "2+2 at LSQ" Lunar New Year incentive, LSQ2 is playing its part in shaping the future of North York’s residential and commercial landscape.
UrbanToronto will continue to follow progress on this development, but in the meantime, you can learn more about it from our Database file, linked below. If you'd like, you can join in on the conversation in the associated Project Forum thread or leave a comment in the space provided on this page.
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| Related Companies: | Almadev, Bousfields, Counterpoint Engineering, EQ Building Performance Inc., Ferris + Associates Inc., New Release Condo, Platinum Condo Deals, WZMH Architects |
