BAU HAUS TRANSIT SCOR: 100 WORLD CLASS PUBLIC TRANSPORTATION BIK SCOR: 100 DAILY RRANDS CAN B ACCOMPLISHD BY BIK Toronto's Downtown ast 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. WALK SCOR: 97 A WALKR'S PARADIS WITH NO ND FOR A CAR RSTAURANTS GROCRY STORS SHOPPING RRANDS PARKS SCHOOLS CULTUR AND NTRTAINMNT
& in TORONTO 1. KING CHARLOTT 4. JAMS 5. AST FIFTY-FIV STATUS: COMPLTD AND RGISTRD STATUS: CURRNTLY SLLING. BRAKING GROUND IN 2017. STATUS: CURRNTLY SLLING. BRAKING GROUND IN 2017. STATUS: COMPLTD AND OCCUPID 2. TH BRANT PARK STATUS: UNDR CONSTRUCTION 6. BAUHAUS 3. TH HARLOW STATUS: IN DVLOPMNT N BATHURST ST 3 2 KING ST W 4 SPADINA AV 1 QUN ST W UNIVRSITY AV YONG ST QUN ST KING ST GARDINR XPY SHRBOURN ST 6 5 PARLIAMNT ST
Project OVRVIW DVLOPMNT SIT: 284 KING STRT AST TTC Yonge-University-Spadina Line aton Centre H t en S Que St Michael s Cathedral Queen Subway Station St Lawrence Market Toronto-Dominion Centre t St Fron is St Jarv King Subway Station Sony Centre For The Performing Arts Union Subway Station Union GO Station PLAN: $ No Frills, LCBO, Dollarama CIBC, Scotiabank t St Fron 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 t nd S o m Rich t ide S a l e Ad xpy r dine Gar George Brown College (Waterfront Campus) The Distillery Historic District io tar n O ke La 28 STORYS, 181 UNITS Lamb Development Corp (LDC) launched ast 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 ast 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 COMPTITION 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
SUCCSS in the area TH KING AST 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) AST FIFTY-FIV Land Closing: July 2014 Sales Launch: May 2015 After 3 months: 50% sold After 1 year: 65% Construction Start: xpected spring of 2017 Unsold Inventory: Offered at $705 psf (source: Urbanation, Q3-2016)
Twitter: @FortressRDI FortressRealDevelopments.com Facebook: FortressRDI Issued: January 4, 2017