Toronto Charlie Condos | 122.83m | 36s | Great Gulf | Diamond Schmitt

Actually, Red Condos (in Don Mills) is giving purchasers a one year lease on a Honda Fit. I guess the one year metropasses other builders were giving out were not good enough for the people in Don Mills.
 
Charlie seems to be considerably cheaper than it's neighbors M5V and Glas. I stopped by both to get an updated price list today on my way home, and M5V's cheapest 2 bedroom at 763 sq ft starts at $448,900, and Glas's cheapest 2 bedroom at 815 sq ft starts at $399,900. Charlie's 2 bedroom, 747 sq ft starts at $359,990.
 
That will change soon enough. The M5V and Glas prices are higher because they have been on the market for a long time and prices have gone up since they were first released. Pre-construction prices are always cheaper. For a better comparison you would have to get a price list from when M5V and Glas were first released and take into account 2 years of inflation and increases in average house prices. I find Charlie's prices to be pretty high at $482/sq. ft. for that unit, although not too high based on the area.
 
There isn't much room for prices to drop even if demand subsides (Labour, material, ever increasing development charges and fees, land costs which won't go down due to supply issues).
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Labour and materials would go down if demand dropped substantially. And so would land costs. In the recession of the early 90's you could pick up land for much less than in the late 80's.
 
I believe the Charlie's prices are still very reasonable in this area. When comes to real estate evaluation, we need to look at the current value assessment.


Please check Ore’s message on page 10 as follows:

Near by: Festival Tower (Average Price: $710 per sf)
M5V (Average Price: ($633 per sf)
Glas Condominium (Average Price: $512 per sf)
Boutique Condos (Average Price: $522 per sf)
The 5-Star Shangri-La Residences (Average Price: $1,100 per sf)

However, the North and West facing lower floor units in the Charlie building have the most unfavorable view. Do you feel comfortable to live in a unit without natural light and no view? As a result, you are able to see the average price for the East and/or South facing units are much higher.

Does anyone know any future project coming up on the East side of Charlie condo? Otherwise the beautiful East view will be blocked if there is a high-rise building on the East side and also it will devalue of those expensive units.
 
I hope something happens on the east corner. That Mountain Equipment Co building totally sucks.
 
CityPlaceN1 said:
Labour and materials would go down if demand dropped substantially. And so would land costs. In the recession of the early 90's you could pick up land for much less than in the late 80's.
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Most of the materials in condos are priced on North American or world markets, not based on condo volumes in Toronto - local demand has little impact on these prices. The are already severe labour shortages that are contributing to long construction delays and a longer then normal lag period between sales and construction starts. A drop in demand isn't going to reduce labour costs, but it will reduce carrying costs as projects can move into the construction phase more expediently. While a drop in demand may ease land price pressures, there are other pressures on land supply from the ICI sector and the regulatory framework in 2008 in very different from the 1990s. The entire GTA is experiencing severe land shortages (many builders can't bring new units into production as they can't aquire any lots) - if sales slow, demand for raw land from larger firms willing to bank on it for a few years will still be very very strong. It would take a total market crash vs a slowdown to have any significant impact on condo prices.

Sorry to take this thread way off topic...
 
I've been wanting a supermarket to go in there. Loblaw's never would but the MEC site would be fine for a Sobey's. At my old place I had a supermarket right around the corner. It was quite nice to be able to buy groceries on demand.
 
Toronto101 said:
However, the North and West facing lower floor units in the Charlie building have the most unfavorable view. Do you feel comfortable to live in a unit without natural light and no view?
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At the time of my pre-construction purchase at the Hudson I knew that Glas was going up eventually. I was fine with that. I'd still have some view and would likely get some reflected sun of the hideous Glas building in the morning. The only time we could take advantage of our balcony would be in the summer and quite frankly we'd likely be out and about anyways. I actually wish now that the balcony space was part of my condo so I had a little more room.

I didn't know however that Great Gulf, same builder for the Hudson, had plans for Charlie and that my view would essentially be reduced to a sliver. That really sucks especially since the building is also going to be mostly glass which I think looks terrible for condos. No personality or warmth. Plus after all the construction noise and dust has settled on Glas, Charlie will be starting. Joy. I can't believe construction is allowed to start at 7am. Ah well. At least the two buildings will block the noise from Charlotte especially the street cars in the winter when there's no water to cut down on the turning noise.

Despite what some of you say, I'm certainly glad I got in when units were affordable. Having just done the math on the downpayment and mortgage payments, Charlie would have required a heck of a lot more effort and time to save up for.
 
lister said:
At least the two buildings will block the noise from Charlotte especially the street cars in the winter when there's no water to cut down on the turning noise.
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Is the noise really that loud from inside your unit? Are you on a higher or lower floor?
 
No, it's not that bad at all, even from lower floors. Some people are just really sensitive and complain a lot.
 
ArcticS said:
Is the noise really that loud from inside your unit? Are you on a higher or lower floor?
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I'm not bitching about the current noise level. I'm used to it because of where I used to live previously. I was fully aware at the time of purchase what the noise levels will be. I'm just saying that the one and only bright spot of Glas and Charlie (for me) is that noise should be reduced dramatically.
 
lister said:
I've been wanting a supermarket to go in there. Loblaw's never would but the MEC site would be fine for a Sobey's. At my old place I had a supermarket right around the corner. It was quite nice to be able to buy groceries on demand.
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That woud be too close to the Sobeys at Spadina & Bremner, below Neo and Montage. And the point in the first place is that the building is crap, not MEC. MEC is pretty popular.
 
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