Happy New Year!
I’m now at the Eaton Centre and I’m going to walk you to the site of the very first pre-construction project in 2022.
Eaton Centre is the landmark shopping mall in downtown Toronto.
It goes from Yonge & Dundas, all the way south to Yonge & Queen. So it’s connected to 2 subway stations.
Let’s walk towards the Yonge & Dundas intersection.
Nordstrom, the high end department store.
We’re going to exit to Yonge Street here.
That’s Nordstrom, where we just came out from.
And this is Yonge and Dundas, the busiest intersection in downtown Toronto.
The subway entrance to the Dundas station.
There’s also another entrance inside the mall.
Let’s walk along Dundas Street towards the east.
That’s the Dundas 505 streetcar connecting downtown east and west, it runs every 5 minutes.
This parking lot is our destination today, 3 minutes from the Eaton Centre.
Let me walk a couple more steps down to Church Street.
You can see the Ryerson University campus right here at Church and Dundas.
The exact location of the site is right here at 252 Church Street by CentreCourt.
How about we take a walk back to the Eaton Centre?
Nice view over to the Massey Tower.
You can pretty much see Yonge and Dundas right over there with all the big screens.
And we have arrived at the Eaton Centre in 3 minutes.
I know, 252 Church is really that kind of project.
The location says it all, it really sells itself.
CentreCourt always does an excellent job in picking out prime locations.
And this will be CentreCourt’s third building on Church Street.
The first one is the Axis Condo, just 1 kilometer north of here, at Church and College.
I have a 2 bedroom unit there, currently renting at $3,000 a month.
The second building is 199 Church, just a few steps down the road.
I bought a pre-construction 3 bedroom unit there last year when we were deep in the pandemic.
And now 252 Church.
No surprise, prices will be higher than last year.
Here’s the thing.
This building was approved before the Inclusionary Zoning policy.
That means we won’t have any affordable housing units in this building.
And we can walk to the Eaton Centre in 3 minutes.
1 bedroom units will be around $725,000.
1+Den units will be around $900,000.
2 bedroom units will be around $1.1 Million.
It’s not about how we feel about these prices now.
But how are we going to feel about these prices at the end of 2022?
If you feel that these prices will become relatively cheap when affordable housing units come into play, schedule a call with me at the link below for your priority suite selection.
If you don’t know what the new Inclusionary Zoning policy is all about, make sure you review it at the link below because it’s going to have a significant impact on the housing market.