Mark Savels Toronto Real Estate Blog » Family home

What’s the difference between a Condo and an Apartment?

Mark Savel — Thu, 27 May 2010 02:03:39 +0000

Ever wonder why some people call their place of residence an apartment and others a condo? I sure did!

It was about 7 years ago when my curiosity had gotten the better of me (I wasn’t yet licensed as a Realtor). At the time, many of my friends were either buying or renting a place of their own. It was common to hear my renter friends say “come to my apartment this weekend” while the purchasing friends would say “you’ve got to check out the views from my condo”…or something like that.

For the most part I thought I had the terminology all figured out…the renters lived in apartments and the owners lived in condos. I’m sure some of you have thought…or at least asked the same question! After correcting numerous people on the differences, I’ve decided to put together a simple explanation that should clarify this often confusing use of terminology!!!

Here we go:

An apartment is a word used to describe the style of building! For example an apartment can take the shape of a high-rise or low-rise.

A condo (or condominium as they’re legally known) is a style of ownership and could come in a variety of forms…townhouses, detached houses, high-rise, low-rise, industrial or even retail! Therefore, a condominium is not defined by its physical structure but rather the way in which owners have agreed to share the ownership of the common elements of the property while retaining individual ownership of parts of the property which make up their units!

Now that we’ve gotten that straightened out, let’s get you a condo of your own…send me an email or give me a call I’d love to help!

LEED Starbucks at 500 St. Clair

Mark Savel — Tue, 04 May 2010 19:14:12 +0000

A few posts back, I wrote about how much I liked the 500 and 530 St. Clair project… now that a Starbucks opened up on the main level of 500, add another reason! I actually don’t drink coffee (per-say) but I do love their green tea and the occasional moca-frappucino!

So why is a Starbucks such a big deal??? After all, it’s just another coffee shop right? Well yes, but Starbucks doesn’t just open a place on any corner. It’s not very often you see a Starbucks close down, and I believe it’s because of all the research and surveying that’s done before one actually opens. I was prepared to write a whole post on the “Starbuck Effect” and the type of positive changes that one brings to an area….BUT another blogger beat me too it! Instead of rewriting what he’s already written, I encourage you to check out David Fleming’s post entitled “The Starbucks Effect“ He pretty much sums up all the areas that have benefitted from having the popular coffee shop open up in their area!

I firmly believe that the strip of St. Clair (From Bathurst to Oakwood) will be seeing positive changes in the coming years. It already has streetcar AND subway access, not to mention the massive Loblaw’s for shopping, and Cedervale Park for leisure. With big name chains like Starbucks moving in, it’s only a matter of time before others set up shop! Local residential hot spot “Ferro” also looked like it was expanding its space in anticipation for more business along the strip!

Property values aside, there is another reason why this particular store deserves attention. It’s the first (at least to my knowledge) Starbucks in Toronto that was built to LEED standards! LEED is an internationally recognized green building certification system, and a system that more and more Toronto developers trying to incorporate into their buildings. Though ordering your moca-froca-whatever from a LEED Certifies Starbucks won’t taste and different than any other Starbucks… It is good to see the massive coffee chain reducing their environmental footprint through energy and water conservation, recycling and green construction.

Drop in to the new Starbucks; it has a very loft-like look to it with a decent combination of wood and concrete finishes!

Daniels Coming to River City?

Mark Savel — Wed, 28 Apr 2010 04:41:24 +0000

I was at the River City sales office the other day getting some updates on availability of units…after chatting with the wonderful staff (I can truthfully say that from experience) I took a walk over to the see the progress at the site! To the average person it pretty much looks the same, but from what I saw back in October to how it looks now is quite substantial. For a project of this size, tons of parts must first be put in place before the actual project gets off the ground. In the coming days I’ll have some video footage showing some of the changes at the site….

BUT the bigggggest update I discovered was almost camouflaged by some graffiti on the hoarding. Posted towards the end of the construction wall was a white sign that read “Daniels”!!! I instantly got on my laptop and started searching to see if anyone had picked up on this! (As of writing this post, no one has)… before I go on, let me take a step back to explain why this finding is so HUGE!

Currently all that’s on the site is a ton of dirt and a bunch of construction workers getting ready to carve the River St extension. Once complete the street will run through the River City development (on the East side of the street. To the West of the extension will be a dedicated area for mixed use and affordable housing. Since the project launched back in November, I’ve been searching all over the City (and internet) for information on who will be building the housing. All that I was able to find was a short note reading “Toronto Community Housing Corporation is developing the first complex comprised of three buildings of affordable housing. Construction of the 243 unit development designed by Baird Sampson Neurt Architects will start in spring 2010 and occupancy is expected in early 2012.” from a March 10th Waterfront Toronto release. Even the Toronto Affordable Housing website lacked the details I’ve been looking for!

If my findings are true, and in fact Daniels is the developer selected to build at the site…this is great news for all! Daniels has an excellent reputation, already building AND selling out their One Cole project a few blocks away in Moss Park. They’re also the developers who practically sold out their Mississauga townhouse complex in several hours back in March. I couldn’t find anything on the Daniels website announcing their involvement in the River City project BUT if that little white sign is any indication of what’s to come, it’s should be a welcomed addition to the neighbourhood!

There are some great layouts available at River City! If you’re interested in calling River City home, give me a call or send me an email… I’d love to help!

Look for more video updates in the coming posts!

What Do You Call Home?

Mark Savel — Tue, 27 Apr 2010 04:22:00 +0000

Click here to view the embedded video.

I was cleaning up some old footage from my Flipcam the other day when I came across a few clips I caught of the City. With the Hot Docs film fest coming to town, I felt a bit “Spike-Leeish” and decided to put together a short vid of my own…enjoy!

When you’re ready to call Toronto home…call me!

Network Lofts Now Registered!

Mark Savel — Tue, 30 Mar 2010 21:54:19 +0000

Over the weekend I had the chance to check out a cooool loft conversion in the Bloor and Islington area of Etobicoke! Located a few minutes away from the Islington subway station at 2 Fieldway, the newly converted loft was once home to Bell Canada offices. For the past few years, they’ve been working to transform the building into what it is today!

Last week the building finally registered with the City, meaning residents can now sell their units on the open market (ie. MLS). I previewed several units, and EVERY one was totally different. Some had polished concrete floors giving it the industrial look, while others had beautiful thick-plank hardwood floors for a more modern feel! There is roughly 205 units spread out over 12 floors with 10′ ceiling heights for most suites and 15′10″ for the 2 story lofts.

With conversion lofts, residents should often give consideration to noise levels as most of the time builders can only work with what they currently have. At Network Lofts the builders had 10 inch to 18 inch floor slabs for exceptional low noise transition (as per their website). Though I can’t verify the slab sizes myself, I can say that the units were all very quite during our visit! (a big plus)

The lobby was very impressive, with its spacious entrance surrounded by wood paneled walls and big stone accents…pictured below!

We didn’t get to see all of its amenities but original plans called for: His and hers steam rooms in exercise area, guest suite, fully outfitted fitness room with two treadmills, two elliptical exercisers, various free weights and a rooftop terrace for use by all residents for enjoying warm weather and great views that Network Lofts has to offer!

As with most newly completed builds, new listings are coming out daily! If you’re interested in living and being part of the ”network” give me a call or send me an email…I’d love to help!

Sellers, units have appreciated quite a bit since its first launch; contact me if you’d like to know what yours is worth!

500 and 530 St Clair…what a view!

Mark Savel — Mon, 29 Mar 2010 05:43:59 +0000

500 and 530 St. Clair, are in my opinion, one of the most underrated projects in the City!! The development is in the process of transforming the Bathurst and St. Clair corner with two well-thought-out condo towers. One of the reasons I so heavily favour it is because it’s perfectly placed location. Once complete, the towers will positioned between several highly desirable neighbourhoods, including Cedarville – Humewood, Forest Hill, Casa Loma and Hillcrest all offering unique characteristics for its residents.

Topographically speaking, the condo’s placement at the top of Bathurst allows for some of the most comprehensive views I’ve ever seen of the Toronto skyline. The photo below was taken from the 16th floor of 500 St. Clair, and perfectly depicts what I mean!

Lake views can be had to the South West!

Of course it takes more than views to make a great a building, and here’s where the project really shines! I had the opportunity to accompany a client during their “pre delivery inspection” last week. The layout was well planned, and had ample room for a beautiful kitchen with tons of storage space. I love to eat, so naturally the kitchen is something I hold very dear to my heart. Both my client and I both commented on how it was very similar in size to something found in a residential house (a huuuge plus, based on some of the smaller kitchens I’ve seen in my time). The stainless steel appliances complemented the space and completed the picture perfect image one should expect in a condo!

The base of 500 will be home to a TD Canada Trust bank and a Starbucks coffee shop. I always tell my condo-living clients to pick a place near a grocery store, especially if a car is not part of their plan. The Loblaw’s to the east of the development makes the project even more attractive. The St. Clair street car is literally at your front door, with the station a quick walk away (in front of the Loblaw’s). If you’re ever in the area, I highly recommend stopping for drinks at The Rushton or grabbing a delicious dinner at Ferro’s…both places are within minutes of the condos.

The finishing touches are being put on 500 St. Clair and should be fully complete in the coming months. 530 St. Clair has yet to start construction, but still has a great selection of units available! I’ve sold here in the past and after seeing the finished product at 500, I’m even more excited to have helped clients get into this project! The two development firms behind the towers are The Goldman Group and Lash Development Corporation. Past work from them includes Castle Hill (the Georgian style town homes along Davenport, at the base of Casa Loma) and 66 Portland in King West to name a few.

Sales of 530 have been going strong since its launch, and you’ll start hearing more about this project as radio ads have now hit the airwaves. If you’d like to enjoy the views, finishes and amenities 530 will offer, give me a call…I’d love to help

Below are a few other photos I took during my visit to 500 and 530!

ART Condo Releases Floor Plans

Mark Savel — Fri, 05 Feb 2010 08:26:12 +0000

It looks like we’re getting closer and closer to the launch of ART Condos – a boutique atmosphere in the Studio District with only 147 suites! The 11 story building will be made up of studios from 460 sqf to 2 bedroom units (with den) at 1290 sqf. The spacious unit will also feature a 960 sq f terrace on the 9th floor. My personal pick is the two level suites that will have living, office, dining and kitchen on the first level with 2 bedrooms and laundry on the second! Units will have 9ft ceilings and many include terraces or balconies. In keeping with the culture, floor plans include long hallways allowing residents to show off their own collections of art in their units.

Amenities will include a resident lounge with fireplace, bar, and catering kitchen. There will be an outdoor terrace with BBQ’s, a fire pit, built in banquets and a hot tub! I can’t wait to see what the interiors will look like…when you hire a team on 3RD UNCLE DESIGN; you know you’re in for a treat!

There’s nothing I dislike more then when condos are designed to look like night clubs. Very quickly you get the Vegas effect (you want to leave after 4 days). This condo is the exact opposite, embracing the area and celebrating its creative side. One article I read mentioned the main floor having live/work units which are sure to attract purchasers looking to make the most out of the Queen West location!

Prices and a launch date the next two strokes to complete the “ART Condo” painting, but until then check out their updated website with floor plans, a map of the area and an art gallery. It’s going to be a great addition and an interesting mix of business and art! Send me an email if you’d like further updates on the project.