Toronto Wellesley on the Park | 194.15m | 60s | Lanterra | KPMB

If they have purchased thinking that, I have zero sympathy. Read the fine print or perish.

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Thanks for the info Condo George. Did notice the promo missed the 500++ dogs who will enjoy the park.
 
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that has always been the case.

what I noticed though is the target demographic ... a lot younger early-mid 20s, hip, fashionable - the types that like shiny new things and want the 'lifestyle' of the rich and famous but can only afford it on credit

Automation Gallery said:
Gee, promotional videos now-a-days are all into hot women and guys i guess
Anyways, thanks CG for that info:cool:
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antonove said:
I find it interesting that the website says that ceiling heights in this building will only be 8.5'. I wonder how many people have purchased units automatically assuming the now-normal-for-condos 9' ceiling heights.
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You'd be suprrised how many condos tout 9 foot ceilings and are really just 8'7 when you measure. Don't think it'll be that big of a deal. However, low ceilings in tiny units is a bit vertigo-ish
 
You mean claustrophobic, I think? Anyone with real vertigo issues ikely wouldn't want to be living in a condo tower in the first place - certainly not in the upper floors, anyway.
 
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urbandreamer said:
The main problem with this building is it doesn't really suit the site. The main problem with owning a unit in this building is the view sucks--you're looking at a whole bunch of architectural failures. (It's kind of like having a view of a vertical '80s subdivision.)
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How about the fact that the pricing is absurd?

You can buy an unit in 1121 Bay, a far superior location in every respect for under $585 per SQ FT. (That's the asking price on MLS) Why would anyone buy in this vertical subdivision, wait 5 years for occupancy and assume enormous market risk?

I'll answer my own question- it is a vertically integrated multi layer marketing scheme.

Edit: if you prefer brand new, you can buy at 832 Bay in one on those 'Rano buildings for under $665 per SQ FT.
 
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CN Tower said:
How about the fact that the pricing is absurd?

You can buy an unit in 1121 Bay, a far superior location in every respect for under $585 per SQ FT. (That's the asking price on MLS) Why would anyone buy in this vertical subdivision, wait 5 years for occupancy and assume enormous market risk?

I'll answer my own question- it is a vertically integrated multi layer marketing scheme.

Edit: if you prefer brand new, you can buy at 832 Bay in one on those 'Rano buildings for under $665 per SQ FT.
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This was posed 5 years ago and look where we are today. Not saying you're wrong, just saying that the market is heading upwards. Personally, I'd never play these ridiculous prices for today's condos but there are a number of people who will. Especially when you consider that a house is out of reach for many people in this city.
 
TheKingEast said:
This was posed 5 years ago and look where we are today. Not saying you're wrong, just saying that the market is heading upwards. Personally, I'd never play these ridiculous prices for today's condos but there are a number of people who will. Especially when you consider that a house is out of reach for many people in this city.
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a house is out of reach because of the inflated prices in Toronto and Canada in general.

prices in Toronto are over-valued by 30% because of ultra-low rates and buyers/consumers are being fed the idea that prices are affordable due to monthly serviceability.
however, that's only applicable for the short term until one's mortgage is due for renewal at the new rate which will definitely not be current ~3% for 5-year fixed.

many are not aware that a rate increase of only 1% (100 basis point to 4%) will cause one's monthly payment to increase by 9+% based on original 5-year term/25-year amortization even with the smaller loan outstanding after 5 years of interest and principal repayment.

if rates go up by 2% (ie. 200 basis points to 5%), that will increase the monthly payment by ~19%;

if rates go up by 3% (ie. 300 basis points to 6%), that will increase the monthly payment by ~29%;

if rates go up by 4% (ie. 400 basis points to 7%), that will increase the monthly payment by ~39%
 
Leave the bubble talk for the bubble thread. Stick to Wellesley on the Park here please.

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Well, they seeded teh lawn and got it nice and green at the location...jsut in time to drive all over it again with heavy equipment. You'd think they would do that before the landscaping...
 
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