BAU
HAUS
100
TRANSIT SCORE:
WORLD CLASS PUBLIC
TRANSPORTATION
100
BIKE SCORE:
DAILY ERRANDS CAN
BE ACCOMPLISHED
BY BIKE
Toronto's Downtown East has transformed into a very
liveable neighbourhood jam-packed with amenities,
offering the best of a car-free lifestyle and is home to
a growing employment base.
97
WALK SCORE:
A WALKER'S
PARADISE WITH NO
NEED FOR A CAR
RESTAURANTS
GROCERY STORES
SHOPPING
ERRANDS
PARKS
SCHOOLS
CULTURE AND
ENTERTAINMENT
in
&
1.
TORONTO
KING
CHARLOTTE
4.
JAMES
5.
STATUS: CURRENTLY
SELLING. BREAKING
GROUND IN 2017.
STATUS: CURRENTLY SELLING.
BREAKING GROUND IN 2017.
STATUS: COMPLETED
AND REGISTERED
EAST FIFTY-FIVE
STATUS: COMPLETED
AND OCCUPIED
2.
THE BRANT PARK
STATUS:
UNDER CONSTRUCTION
3.
6.
THE HARLOWE
BAUHAUS
STATUS: IN DEVELOPMENT
N
4
KING ST E
SPADINA AVE
BATHURST ST
GARDINER EXPY
6
PARLIAMENT ST
1
KING ST W
5
SHERBOURNE ST
2
QUEEN ST E
YONGE ST
3
UNIVERSITY AVE
QUEEN ST W
Project
OVERVIEW
DEVELOPMENT SITE:
284 KING STREET EAST
TTC Yonge-University-Spadina Line
Eaton Centre
H
tE
en S
Que
St Michael’s
Cathedral
Queen Subway Station
St Lawrence
Market
Toronto-Dominion
Centre
E
t St
Fron
is St
Jarv
King Subway Station
Sony Centre For
The Performing Arts
Union Subway Station
Union GO Station
PLAN:
E
$
No Frills, LCBO,
Dollarama
CIBC,
Scotiabank
t St
Fron
E
t
nt S
iame
Parl
George Brown
College
St
King
N
The Globe
and Mail Centre
St
rne
bou
Sher
t
ge S
Yon
St
Bay
t
rch S
Chu
Nathan
Phillips Square
tE
nd S
o
m
Rich
tE
ide S
a
l
e
Ad
xpy
E
r
dine
Gar
George Brown College
(Waterfront Campus)
The Distillery
Historic District
io
tar
n
O
ke
La
28 STOREYS, 181 UNITS
Lamb Development Corp (LDC) launched East
Fifty Five just 200 meters north of the development
site for Bauhaus in the spring of 2015 and sold
50% of the units in the first 3 months. It was one
of LDC’s best launches ever and proof that
buyers in the downtown east will pay a premium
for the type of high-style, high-design building
Brad Lamb is known for. Bauhaus is well located
on transit, across from the new Globe and Mail
headquarters, in proximity to two areas that are
rapidly changing for the better, Regent Park
and the West Don Lands.
The Moss Park/Regent Park neighbourhood as defined by CMHC, is an area bounded by
Gerrard Street/Carlton Street to the north, the DVP to the east, Front Street East to the south,
and Jarvis Street to the west. Over the past five years, this neighbourhood in Toronto is
delivering approximately 800 to 900 new apartment units annually (condominium or rental
tenure). Over 98% of completed condos in the area were sold at the time of completion in
four of the past five years.
New Apartment Data
Moss Park/Regent Park Neighbourhood
5 Year Averages from 2010 to 2015
Starts
766
Completions
% sold at
completion
Absorbed
Units
(Condo only)
91%
867
(Condo only)
Completed &
Unabsorbed
Supply
Units under
Construction
736
6
1,538
Source: CMHC
Going into the last quarter of 2016 there are just over 1,100 units under construction, down
from the five-year average. There is no concern of oversupply in the current market.
Absorption continues to be strong, with the number of unsold units remaining low.
Future
COMPETITION
According to information from Altus Data Solutions and Urbanation Inc, there are a couple
of projects that will compete with the subject site. Given the strong demand in the market,
it is not likely that the presence of these two developments will have a significant negative
impact on sales at the subject site, but prices at Great Gulf’s development might be discounted
slightly based on the large number of units.
Project: Home
Location: Power + Adelaide
Building: 22-storeys, 532 units
Developer: Great Gulf Homes
Project: Harris Square
Location: River City, West Don Lands
Building: 11-storeys, # of units TBC
Developer: Urban Capital
SUCCESS
in the area
THE KING EAST
• Land Closing: January 2008
• Sales Launch: April 2008
After 3 months: 35% sold
After 1 year: 42% sold
(The global economic crisis hit the
economy in October 2008 negatively
impacting sales)
• Completion date:
January 2013
• Resale Units:
Selling for $707 psf
(source: Urbanation, Q3-2016)
EAST FIFTY-FIVE
• Land Closing: July 2014
• Sales Launch: May 2015
After 3 months: 50% sold
After 1 year: 65%
• Construction Start: Expected
spring of 2017
• Unsold Inventory:
Offered at $705 psf
(source: Urbanation, Q3-2016)
Twitter: @FortressRDI |
FortressRealDevelopments.com |
Issued: January 4, 2017
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