11 Wellesley St W (Lanterra Developments) - Real Estate -

[interchange42]

Thread for those interested in purchasing at Lanterra Developments' project at 11 Wellesley Street West.

 

[LookingforCondo]

Thoughts on this project? I hear sales are going to start May 1

 

[Auraz]

Going to be a hot project. Anything on the Yonge corridor is doing well. People who missed out on YC Condos. This is the next best project to come out.

 

[TheKingEast]

It'll be a glorified rooming house. Great location, but it's not for end users. Not in the same stratosphere as Five.

 

[LookingforCondo]

Curious to know why not for end user? More for rental purposes than or are you saying more for investment.

 

[TheKingEast]

Curious to know why not for end user? More for rental purposes than or are you saying more for investment.

The area is prime location and in between 2 universities so it will attract a lot of investors renting out units to students. This is why I don't think it would be a good buy for end users as the building will be most likely full of students. Lanterra tends to be at the bottom of the competition when it comes to finishes....and build quality is questionable. This is just my opinion...but if you research some of Lanterra's buildings...there have been issues with build quality.

 

[Condo George]

I received some additional info on this site, for those who are interested.

http://www.kijiji.ca/v-condo-for-sa...ris/582902971?enableSearchNavigationFlag=true

 

[LookingforCondo]

Thanks ! Your input is really appreciated .. that info is something you probably wont here from realtors!

 

[Condo George]

 

[pmilo]

For those who care to know, my guess is the tower will launch on day 1 at $680 psf on the ground or the 10th floor. There are 5 planned sales events, I am talking at the first event.

$680 psf sounds about right for the area. Is 11 Wellesley toting itself to be high end luxury or run of the mill?

 

[Condo George]

I don't think we will see high end finishes for that price per sq ft. I will know for sure on May 1, this is the first info event for St Martin agents.

 

[DarkSideDenizen]

316 square feet? What the hell.. That's equivalent to a room that's just under 18' X 18'. Must have a fantastic layout!

 

[cruzin4u]

Condo George's speciality - "shoebox living". You should trademark that.

 

[kalvinone]

and no different from 3 BR in 900 sq ft? geez... life is like a box of choc... sardines..

 

[pmilo]

I dont understand why developers see 316 sf as reasonable living, besides more $$$ for them. Take that unit and divide it to add more sq footage to the units beside it.