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Eleven Residences (Glen Grove at 11 St. Joseph) - Real Estate -

Sounds pretty loud to me
SP11.jpg
 
cdr108 said:
the images show 11 St. Joseph ... i wonder if they are selling their hotel suites to the public similar to the Cosmopolitan Toronto Hotel & Spa @ Colborne Street.

http://www.glengrove.com/downtown/stjoseph.htm
Click to expand...

I think you're right cdr108 ... but that would be interesting history for this building, as 11 St.Joseph was first design/built as a condo (by Young + Wright Architects I think), but got converted to an extended stay hotel for some reason ... its funny now its going back from a hotel to a condo
 
I keep mis-reading this one as "Elven Residences". (You thought your condo board was bad, at least you don't have to deal with the Council of Elrond, etc.)
 
Solaris said:
I think you're right cdr108 ... but that would be interesting history for this building, as 11 St.Joseph was first design/built as a condo (by Young + Wright Architects I think), but got converted to an extended stay hotel for some reason ... its funny now its going back from a hotel to a condo
Click to expand...

It was also a relatively high-end rental apartment building somewhere in there too.
 
It's a great location, many of the suites seem pretty good and it's a quiet area for downtown. That said, construction is inevitable in the next couple of years for the 606 Yonge Project right next door.
 
Solaris said:
I think you're right cdr108 ... but that would be interesting history for this building, as 11 St.Joseph was first design/built as a condo (by Young + Wright Architects I think), but got converted to an extended stay hotel for some reason ... its funny now its going back from a hotel to a condo
Click to expand...

Peregrine Hunter went bust before they could build the condo. An American firm, JPI (Canada), bought the site plans and built the tower as rentals a few years later. Their rental investments weren't all too successful and they eventually sold out to Barney River and left Canada. What I can't say if these operators like Glen Grove, Mac Suites running these extended stay hotels rooms out of almost every new rental and condo tower out there own or manage or a combination of both. However, Glen Grove is still not the owner and/or converting it to condos
 
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I'm curious about this project. I used to live in the condo directly to the south of this building. I always admired it from afar. Was shocked when I found out it was a rental building. Always looked like a condo....even had a nice rooftop deck with bbq's.

I'm sure the units will be gutted and redone with the typical condo finishes. If it's like any of the other Lamb buildings...I guess you can expect nicer than average finishes. Really curious about this one...prices aren't too bad either.
 
Curious about what facilities they have there. Also...where's the closest grocery store? Is this place worth $540/sq ft?? It just seems to me that you pay a lot for a little here? Do you think that this price is cheap? Units don't come w/ balconies or parking lots, so wouldn't you consider that a pretty big downfall? I will be going to see a model suite tonight, hopefully I can get some pics up later.
 
Most of the buildings in the downtown core don't include parking with units, keep that in mind. $540 is a lot, especially if you're buying for investment purposes. But, for the area and today's overpriced climate, it's OK. With that said, the area is prime downtown location. There's a pretty large Raba's that's a 2 minute walk. 5 minute walk is Sobey's. 10 minute walk is Metro (College/Younge). 10 minute walk north is a grocery store in the manulife building. There's also a No Frills which is about 20 minutes away (Sherbourne/Wellesley). Also, you don't have to wait 3-4 years for the place to be built. You can move in within a few months so that's a bonus.

Could you keep me posted on how it goes tonight? I'm interested in this building. I didn't knwo they had a sales centre, yet alone a model suite.
 
Sales centre is at 786 King (BJL Realty). I suppose all the left over projects go there. $540/sq ft does seem very expensive IMO but I am very interested in that location. Would you consider it too pricey for an investment property? What are my options? go for a new development? Buy a house in the burbs? I like the fact that this is already registered so I won't be paying any of this "phantom" mortgage. With all the new developments going up, can I find a better place with more bang for my buck?
 
Hey! I'm new to this thread too. Just wanted to give my two cents. Through a broker friend, I was able to purchase a unit last night at the ELEVEN broker event. While initially I had trepidations from some of the stuff I had read here about the previous rental stuff, I must say, they were all put to ease. First off, the building is only 5 years old. It has been IMMACULATELY maintained. Cant complain at all. Secondly, a company called Two by Four (?) or IIBYIV did the whole re-design. Its unreal, you have to see it. Apparently they just did Trump Toronto too - so that's a nice comfort as well. Everything has been done top to bottom - its as good as a new building. Just dont have to wait 5 years, lol. The suites have been completely re done with thick quartz counters, proper wood flooring, amazing european kitchens and a whole bunch of other stuff. The suites look incredible. They had some model units set up on the 14th floor...... also, I asked about whether the WHOLE building was being sold (as one of the posters mentioned) - the answer was yes, so i no longer have the fear about rental. In fact, some of the owners were there and they were super nice and answered a bunch of questions. All in all, I looked at so many places, and at $500 per foot in THIS location, its a steal. Im really happy. ONE COMPLAINT - took way too long to sign yesterday. Too many people. I guess thats cause it was a broker event. Nonetheless, Im incredibly happy with my purchase.... now just cant wait to move in!!!! a couple more months, my interest rate is locked in before they go up - im a happy camper!!! Bravo to whoever teh company is who did this project!!! Thanks for not being GREEDY scum like the rest of these developers with substandard finishes and higher pricepoints!!! Well done!
 
Sorry - just read above posts again - where did you get $540 foot? I bought LAST NIGHT at $500 a foot...... FYI.
 
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