Check out “Big Payday Awaits Investors at Q&A Condos” in the latest edition of Canadian Real Estate Wealth!

Big Payday Awaits Investors at Q&A Condos

By Neil Sharma – December 29, 2020

Queen & Ashbridge Condos has managed to distinguish itself from Toronto’s staidly designed condominium stock by harnessing the potential both within and without the building, and attracting robust end user interest in the process.

Located in the Beaches, the building’s Queen St. E. frontage offers residents value-boosting streetcar service, hundreds of restaurants, bars and boutique shops along the celebrated street, and the most access to nature anywhere in Toronto.

“The Nos. 1 and 2 amenities are Lake Ontario and the largest expanse of green open space in all of the GTA,” Howard Cohen, president of Context Development, Q&A’s co-developer, told CREW. “Woodbine Park, Woodbine Beach, Ashbridges Bay and Pump House Park are next to Q&A, so it’s really amazing the amount of green open space we have there, and we’re immediately north of Ashbridges Bay Yacht Club.”

The Beaches has been one of Toronto’s most desirable neighbourhoods for the aforesaid reasons long before citywide housing prices began surging a few years ago, and it could also explain why, unlike most Toronto condos that are investor-driven, the overwhelming majority of Q&A’s buyers so far are end users, some of whom have already purchased the more expensive units over $2 million. It’s perhaps for that reason investors would benefit from owning a unit or two at Q&A—Toronto rents haven’t carried condos for a few years, but capital appreciation potential is through the roof—because when the units enter the resale market, end users will pay a premium that other investors won’t.

“It’s unusual for end users to buy preconstruction because they have to wait about four years to move in, but that Q&A is getting huge interest from end users tells an investor something powerful,” said Cohen. “When they put a downtown unit on the resale market, they get a huge amount of competition, because probably 95% of downtown towers are bought by investors, so everyone living in it is a tenant. Our building will probably be half and half, and with more end users there’s more value, especially on the resale market, because an investor likely won’t sell a Q&A unit to another investor, they will sell it to an end user, and end user-driven buildings are taken care of better. You see that with downtown condo boards that only want to keep the fees down as opposed to maintaining the building.”

Dil Bhanga, a broker with Royal LePage Flower City Realty, says buildings with high end user contingents last much longer than investor-driven buildings, which run the risk of falling into disrepair faster than they should.

“End users take care of the condo more than investors, who just want rent and low overhead,” he said. “End users always monitor the condo corporation and status certificate to make that anything to do with maintenance is taken care of.”

Cohen added that, unlike the downtown towers every real estate broker in Toronto brings their investor clients to, clued in brokers have been bringing their clients to Q&A, which is being co-developed by RioCan Living, since it launched a couple of months ago.

“Housing prices in the Beaches are through the roof. We’re finding it’s the brokers who know this part of Toronto, as opposed to the cookie cutters downtown, who are bringing us the most buyers as investors.”

The 17-storey, 360-unit U-shaped development, which incorporates geothermal energy to keep utility costs low, will feature a 5,000 sq ft state-of-the-art fitness centre equipped with a yoga studio, spa and steam saunas, co-working space for residents, a rooftop party room and lounge with a capacious outdoor terrace that has cooking and dining areas, and a courtyard for residents.

“There’s also a dog run and a dog washing station, and we’ve been getting a really good response to that,” said Cohen. “Our architect [Teeple Architects] came up with a building configuration that looks a little like a pyramid in its genesis, and on the skyline it’s going to be pretty exciting. Because of the way the building is shaped and modelled, it’s created a really beautiful courtyard that’s a private park for people who live in the building, which some of the units overlook, and which we think of as an urban forest.”

https://www.canadianrealestatemagazine.ca/news/big-payday-awaits-investors-at-qanda-condos-334408.aspx

As 2020 draws to a close (thank goodness!) we are pleased to give you the final construction update of the year for Yorkdale Condos (Phase 2/Second Tower).

The roof has now been completed and the precast panels and windows are being installed on the upper floors. 

On the lower floors the exterior walls are being framed and insulated.  Elevators equipment is on site and they will be starting to install this soon.

In closing out this long year, we wish everyone involced with The Yorkdale Condos a Merry Christmas & Happy Holidays! See you in 2021!

Between the boardwalks of The Beaches & the red bricks of Leslieville, beyond the shores of Ashbridge’s Bay and the skyscrapers of downtown, lies Queen & Ashbridge; a unique icon in the heart of Coastal Queen East.

For regular updates on Queen & Ashbridge and beautiful photos of the surrounding area, we invite you to visit us on Instagram @qa_condos

This weekend’s Toronto Star Homes section is featuring Queen & Ashbirdge as its cover story! Here is a sneak peak.

By Carola Vyhnak Special to the StarWed., Sept. 30, 2020

There are two sides to this condominium story: one facing the venerable thoroughfare of Queen St. E., the other overlooking Ashbridges Bay and Lake Ontario on Eastern Ave.

Bordered by two streets on a deep lot, Queen & Ashbridge Condominiums in Toronto’s east end offered an opportunity for a “pretty unique architectural response,” said architect Stephen Teeple.

The result is a 17-storey pyramidal complex rising from the site like “a timeless, sun-washed hill-town” evocative of the Greek island of Santorini, he said.

“That it has both water and Queen St is really enticing,” noted developer Howard Cohen, co-founder of Context, which has partnered with RioCan Living on the project.

Cohen expects Queen & Ashbridge Condos, just west of Coxwell Ave., to become a landmark in the city’s newest old neighbourhood, “Coastal Queen East.” The name — so far just a marketing moniker — defines the area that links the neighbourhood of Leslieville and The Beach.

“It’s almost a bit undiscovered in a way,” said Cohen, who’s hoping to put Coastal Queen East on the map with the delivery of the development in about four years.

With 366 condo suites, about 185 rental apartments and must-haves of abundant green space and outdoor entertainment areas — in demand due to COVID-19, according to Cohen — it’s the kind of place where everyone from youngsters to young professionals and empty nesters will feel at home.

With the most parkland per capita in Toronto, the area lends itself to activities for all ages, he said, listing jogging, cycling, swimming, sailing, skateboarding and “promenading.”

Although moving day may be years off for Dawn Chapman, she can already see herself rollerblading on the boardwalk and cycling to the Leslie Street Spit.

The Upper Beaches resident is considering the purchase of a two-bedroom unit for her parents, who now live in Brampton, so they can be closer. Eventually, Chapman and her husband James would live there after their kids, now aged 13 and 15, leave home.

“What I love about Q&A Condos’ location is the feeling of openness … the green space and walking along the beach near the water,” said Chapman. “It’s the fabulous feeling of a countryside as opposed to (being) locked in a concrete jungle,” said the long-time east-ender.

At the same time, the condos are close to restaurants, schools, businesses and specialty shops, the Queen St. streetcar, Ashbridge’s Bay and Woodbine Beach.

Chapman, proprietor of Lazy Daisy’s Café on Gerrard St. E. — a café and general store specializing in fresh, local food — is excited about the business prospects with the arrival of new residents. (She named her shop after a dairy cow on her grandparents’ farm where she spent summers as a child.)

As well as new residents, dogs will be welcomed at the building where a rooftop dog run is among the amenities.

“It’s important for dogs to have a nice view of people shopping on Queen St.,” Cohen joked.

With suites ranging from 503 to 1,843 square feet and prices starting in the mid-$500,000s, he expects purchasers to include a “big move-down component” from Beach folks.

“You can sell your house, buy a condo and still have money in the bank,” noted Cohen, whose 27-year-old company focuses on mixed-use projects, condominiums and affordable rental housing.

With its two fronts, the building presents different façades to fit the surroundings, according to Teeple, principal at Teeple Architects. http://www.teeplearch.com/ On the “vibrant lakefront” side, it looks like a “modern white sculpture” while on Queen, where its 16,000 square feet of retail space meets the street, it adopts a more traditional urban façade, he said.

The structure is designed in two wings joined by an eight-storey podium. The 16-storey east side comprises mostly rental units while the 17-storey west wing houses condos of one to three bedrooms, including penthouse-calibre suites that boast the best views of the lake and skyline.

The tiered design allows “extremely large terraces,” adding to the suites’ allotment of indoor/outdoor space, said Teeple.

The development’s south-facing Eastern Ave. front, a landscaped courtyard called The Valley will have a private park and garden plots for residents to grow their own food. On the Queen St. side, an eighth-floor rooftop offers a terrace for lounging and dining, and access to indoor amenities.

A 5,000 fitness centre will provides everything from spin and yoga studios to training zones and steam saunas. “It’s the best fitness centre we’ve ever done in a complex,” Cohen said. There’s also a ground-floor co-working lounge catering to the work-from-home cohort.

Cohen also points to the development’s “high sustainability rating” and reduced carbon footprint due to energy-saving mechanical systems, geothermal energy, abundance of greenery and natural building materials. As well, it will have an energy recovery ventilation system.

Carola Vyhnak is a Cobourg-based writer covering home and real-estate stories. She is a contributor for the Star. Reach her at cvyhnak@gmail.com

Queen & Ashbridge Condos

Developer: Context and RioCan Living

Location: 1555 and 1575 Queen St. E.

Architect:Teeple Architects; Landscape architect: Public City Architecture; Interior designer: Mason Studio

Suites: 366 condo units from 503 to 1,843 sq.-ft. One-bedroom, two-bedroom and three-bedroom layouts, some with den, starting in the mid-$500,000s

Amenities: 5,000-sq.-ft. fitness centre with training zones, spin and yoga studios; rooftop party room, lounge and outdoor terrace with dining and cooking zones; rooftop dog run; landscaped courtyard and garden plots; co-working lounge

Tentative occupancy: Fall 2024

Info: register at qacondos.com or email info@qacondos.com

Queen & Ashbridge is coming soon to coastal Queen East! Along with our partners Riocan Living, we at Context are excited to announce that Queen & Ashbridge will be launching this fall.

Between the green boardwalks of The Beaches and the red bricks of Leslieville, beyond the shores of Ashbridge’s Bay and the skyscrapers of downtown, lies Queen & Ashbridge; a unique icon in the heart of Coastal Queen East.

Register now at http://qacondos.com

In this edition of Different By Design, we look at the design of Toronto City Hall. Arguably Toronto’s most recognizable structure (after the CN Tower) Toronto City Hall is turning 55 years old this year!

Designed by Finnish architect Viljo Revell and completed in 1965, Toronto City Hall is the culmination of an international design competition held in 1958. Led by then mayor Nathan Phillips, the competition sought entries from a global collection of architects including I.M. Pei, Perkins & Will, and Kenzo Tange. Revell’s submission was a sculptural stand out and caused some controversy with some people saying that it was too futuristic for the city. Phillips and the majority of the judges (including famed architect Eero Saarinen and Revell’s leading advocate on the jury) awarded Revell the commission for the $18 million dollar project.

To make way for the new square, the former Registry of Deeds and Land Titles building was unfortunately demolished.

Construction began in 1961 and took 4 years to complete. Sadly, Revell died in 1964 and did not get to see the completion of what would become his most famous commission.

Before his death, Revell insisted that his design collaborators be given their due credit and Heikki Castren, Bengt Lundsten, and Seppo Valjus were jointly listed as the architects.

Today Toronto City Hall still looks futuristic (despite being middle aged 🙂 ) and stands out in the skyline for its elegant curving towers and dramatic backdrop to the heart of our city. Happy 55th Birthday!

The New Lawrence Heights has been nominated for Project of the Year, Low-rise and for the People’s Choice Award at the upcoming 40th BILD Awards! We at Context along with our partners at Metropia are honoured to be nominated and excited to see how The New Lawrence Heights does amongst tough competition! The BILD awards are scheduled to be held on on Thursday, September 10, 2020.

For more information on The New Lawrence Heights visit: http://newlawrenceheights.ca/index.html and for more information on the full list of BILD finalists, visit: http://bildawards.ca/

We hope that you and your family are doing well and staying safe during these challenging times. The Ontario Government has designated residential construction sites where an above grade structural permit has been granted for condominiums as essential workplaces and The Yorkdale Condos fall into this category.

Construction site safety for all workers is paramount and we continue to work with everyone on the construction site including sub-trades, labour unions and the workers to ensure safe working conditions.

Covid-19 has impacted us all but we continue to progress on site and look forward to sending you frequent construction updates of your new home.

We have completed the concrete forming on the 3rd floor and are now beginning work on the typical floors.  Stay tuned for more updates and be safe!

Most of us are stuck inside these days and hopefully able to work from home. If you are looking for a little down time in between projects or something to look at on your computer or phone that isn’t 1) work or 2) news, check out these online collections and tours from some of the world’s top museum collections!

The Louvre features some of its most famous and significant galleries online, including its Egyptian Antiquities and pieces by Michelangelo. Features include a 360-degree tour of the museum and backgrounds on many of the museum’s most important works.

For a taste of some of the world’s finest blue chip modern art, visit The Solomon R. Guggenheim Museum collection online. In addition to the works from New York, you can also browse the collections of the Bilbao Guggenheim and the Peggy Guggenheim Collection in Venice.

Toronto’s own Royal Ontario Museum features over 45,000 pieces online from its 13 million plus collection. The online collection is a working database and is continually being updated.

The British Museum features over 4 million objects in the Museum’s collection online. This innovative database is one of the earliest and most extensive online museum search platforms in the world. Additionally, they teamed up with Google using street view technology to offer an interactive experience of the museum’s collections.

The Vatican Museum features 360 degree virtual tours of the museum grounds and iconic exhibits, including Michelangelo’s ceiling in the Sistine Chapel and Raphael’s rooms.

In our latest edition of Different By Design – Volume 11, we look at some of our favourite graffiti works from around Toronto in recent years. There is no doubt that Toronto is a world class city for graffiti and street art and these works just reinforce that!

New York based street artist Buff Monster completed this piece (shown below) in 2015 on a garage door off King Street West.

South African artist Faith47 installed this piece at Toronto’s Evergreen Brickworks in 2013. She titled it “The Pull of the Land”.

To this day, there is much debate about Graffiti in Toronto and whether it constitutes art or vandalism but there is no denying the quality of the work throughout Toronto and the talent behind it!