One Bloor East - Live Blog Update
Latest construction update from One Bloor East. You can see the core is beginning to form and the columns are rising from the Northern edge of the property. One Bloor is the most prestigious tower currently under construction in Toronto. It will rise 75 floors and be among the top 5 towers built in the city (excluding cheater spires). The tower is located at the corner of Yonge and Bloor and in the main upscale shopping district of Toronto. Bloor-Yorkville.
The tower is being built by Great Gulf. It was formerly being developed by Bazis until the Financial Crisis caused the collapse of Lehman Brothers, the main financial backers of the project. Thus the property was sold and Great Gulf picked up where Bazis had left off.
New Trends in Condo Buying Emerging in the Toronto Area
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.
10 Tallest Buildings Under Construction in Toronto
Number 1 - A-u-ra Condo 273 Meters (Construction Updates)
Number 2 - One B-lo-or East 260 Meters (Construction Updates)
Number 3 - I-C-E Condo - Tower 2 Construction - 234 meters - 202 meters
Number 4 - L T-ow-er Construction Updates - 205 meters
Number 5 - I-C-E C-on-do - Tower 1 - Construction Update - 202 meters
Number 7 - Hu-llmark Co-rpo-rate Centre Construction Updates - 168 meters
Number 8 - Kar-ma Cond-os - (Shoring and Site Prep) - 165 meters
Number 9 - Wes-tlake Village Condos ( Under Construction) - 163
Number 10 - FI-VE C-ondos ( Construction Updates) - 161 meters
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