592 Sherbourne Street
New Condo Tower by Cityzen Developments in St. Jamestown
An application to amend the former City of Toronto Zoning By-law No. 438-86 has been
submitted for the Clarion Hotel & Selby Suites property located at the southwest corner
of Sherbourne Street and Selby Street, one block south of Bloor Street East.
submitted for the Clarion Hotel & Selby Suites property located at the southwest corner
of Sherbourne Street and Selby Street, one block south of Bloor Street East.
The application is to permit a 52-storey (179.6 metre) tall residential tower including a 3-
storey podium with grade related units for a total of 499 dwelling units. A total of 229
parking spaces are proposed in a 6-level underground parking garage.
storey podium with grade related units for a total of 499 dwelling units. A total of 229
parking spaces are proposed in a 6-level underground parking garage.
The front portionof the Gooderham Mansion Heritage House on the site would be relocated closer toSherbourne Street with the residential tower to be located behind the house. The retained
portion of the heritage house would be redesigned to contain 230 square metres of
retail space on the ground floor and 386 square metres of indoor residential amenity
space on the second and third floors.
portion of the heritage house would be redesigned to contain 230 square metres of
retail space on the ground floor and 386 square metres of indoor residential amenity
space on the second and third floors.
A few new trends to watch out for in the Toronto area when it comes to buying homes as well as buying condos. When it comes to buying homes, the latest tactic is to put a property which had previously been listed on the MLS system, on a bidding site, or list through an auction house to get buyers, sending the price of single detached homes soaring.
As for condos the latest buying technique is the new trend with regards to micro housing, or micro condo living. And we’re seeing now, specifically designed condos to meet that purpose. Another new trend to look out for is the lack of supply in the purpose built rental housing market in Toronto. Even as new condos come online there remains a shortage of apartments built specific to that purpose, so condo rentals have increased even as vacancy climbs, rentals rates do as well.
Busy Condo Market Boosts Toronto Home Sales
With fewer homes in the detached category available in Toronto, new home buyers seem to be opting for new condos, with sales heading forward at a rocket pace last month. Sales of Existing Homes in the Toronto area moved up by a whopping 2.1% in February 2014, and that is compared to the same time period last year. That was mainly due to a 12.5% increase in the sales of condos within the city so stated by the Toronto Real Estate Board. That will contrasts with the sales declines that occurred in townhomes, detached and semi-detached housing during the month, which was mainly due to a constrained supply of those housing types.
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