With urban renewal projects like Waterfront Toronto’s revitalization of the West Don Lands, the Regent Park revitalization plans and a mix of residential and commercial activity including the future Globe and Mail headquarters on King Street, things are changing fast in Toronto’s downtown east side.
The latest project to join the flurry of activity in the neighborhood is East United Condos by SigNature Communities, Berkshire Axis Development, and Andiel Homes. This project is currently in pre-construction and this development is scheduled for completion in 2018. Sales for available units start at $199,900. The development has a total of 279 units. Located at 95 Berkeley Street, East United Condos will be walking distance to many local amenities and landmarks such as St. Lawrence Market, the Distillery District and the Financial District.
Situated between Queen Street to the North and King to the south, the project is also close to TTC street car routes making connecting to the subway a breeze. Or if you prefer to walk, the King Street subway station is just 15 minutes away.
The site itself sits on a stretch of land between Berkeley Street and Parliament currently occupied by a preserved heritage building which will be incorporated into the Giannone Petricone Associates design.
That new element is the 21-storey glass tower that will house 279 units, a five-storey podium and a host of amenities including a fitness and yoga studio, rooftop patio with outdoor theatre, private dining room and event space and even a jam room.
On the south side of the project a pedestrian mews will connect Berkeley and Parliament, as well as create space for six two-storey townhomes.
The suites also reflect the project’s location with design packages themed after its surroundings including earth-toned, rustic finishes reminiscent of the Distillery District, the sleek of minimalism of the Design District and the eclectic playfulness of St. Lawrence Market.
Prices at East United Condos start from $199,900 with one to four bedroom units ranging in size from 350 square feet to 1,400 square feet.
This will be a great investment opportunity based on increased and stable neighborhood rents to help better cash-flow positions.
Toronto’s role as host of the Pan Am Games this summer is just the latest in a list of reasons the city is garnering attention on the world stage, and investors would do well to follow these signs to find the city’s next investment hotspots.
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