One area that we have talked a lot about as an area in transition is the Entertainment District, along King St. West. At one point, the Entertainment District was known for the late-night partying of the city’s youth. Recently, developers like Lifetime Developments, Graywood, and The Daniels Corporation have purchased parking lots, low-rise commercial buildings, and other plots of land to build new condos.

Restaurant Row and the Entertainment District

One stretch of the Entertainment District that has received a lot of attention in recent years is Restaurant Row, a series of century old low-rise homes that have been repurposed into restaurants. In the past, we discussed the 47-storey condo proposal for 327 King St. West and how it was headed to the OMB.

305 King St. Condo could bring multiple amenities

Well, another landowner seems to be starting the process for a new condo, as a development proposal has popped up for 305 King St. West. The plan calls for a 43-storey condominium. Not much is known about the potential project at this point, but according to the proposal, the landowner is looking to include an office component, hotel, gallery, and a restaurant.

Intensification on King St.

As mentioned, it’s a pretty interesting time for Restaurant Row. Given the City’s need to intensify the main streets, it’s not surprising to see developments like these ones get proposed for King. Streets like King, Bloor, and Yonge have been identified in the City’s official plan as targets for intensification. As much as we love what Restaurant Row is today, the addition of new condominiums and improved infrastructure makes sense for the area.

Stay tuned, we’ll be releasing updates on 305 King St. West as information becomes available!

It is according to Dog Dazed, a CBC-aired documentary that looks at the environmental and social impact of dogs. According to the flick by filmmaker Helen Slinger, there are now more North American households with dogs than kids. Urban areas across the continent are, apparently, imperiled by poop and by the temptation of owners to value their dogs more than the environment or their neighbours, as fights over off-leash parks and “canine profiling” come nearly to blows.

Wait, what? Aren’t dogs supposed to lower blood pressure? Scientists, they say, have proven that we get a hormone rush from looking into our dog’s eyes similar to looking at a human baby.

And yet, like anyone — or anydog — can attest, when there are a lot of us in small spaces, challenges over territory naturally arise. It’s the way we cope with our desire to live in close-packed urban environments for the excitement, the culture, the shopping, whatever you’re into, versus being out in nature with elbow room. We have to, mentally at least, create our own elbow room. We want to be part of a community, but within a bubble of our own space. Especially if you’re experiencing some of life’s stresses at the time, it can be a delicate balance.

Being a considerate owner, and remembering that, like children, while your life may revolve around your dog, those who don’t have one aren’t going to be as enchanted.

Builders are increasingly realizing that pets, dogs specifically, are a vital part of a satisfying urban life. They’re responding with amenities that make life easier for the owners, more pleasant for the dogs, and more considerate of non-dog-loving neighbours.

CHAZ.Yorkville, for example, has among its amenities a pet spa off their West Lobby, which features stainless steel tub and blow dryer. Sounds like a simple thing, but if you own a dog in Toronto, you know what havoc the weather can wreak. In smaller spaces, like condos, you sometimes don’t have a vestibule suitable for cleaning off your dirty dog — it’s straight into the living room, muddy paws and all. It’s considerate of neighbours too, who don’t have to share an elevator with a dog who smells like a flock of wet sheep. And as dog-lovers know, any dog with rain or snow on his coat in is a threat for a windmill-quality, muck-flinging shake at any given moment.

Another way urban dwellers are doing the right thing by their canine companions is with the help of outfits like Urban Dog in Toronto, whose 7,500-square-foot space adjacent to the Distillery District offers doggie daycare for less than $40. When you’re out working all day, you can leave your pooch in the company of other dogs, in a stimulating environment, where he won’t get up to any monkey business like eating your new sofa. Plus, you can check in anytime you like via webcam.

It may sound a little indulgent, but if the dog in your life is helping keep you stay sane, going a few extra steps to keep everyone happy makes perfect sense. While builders are increasingly including retail and commercial spaces in their well-rounded community plans, it looks like savvy entrepreneurs should start figuring out ways to serve the dog-lovers — Toronto’s new urban density is going to be not only vertical, but four-footed.
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Canada Mortgage and Housing Corporation seems to be saying we’re trending in a non-trending direction this month. Or something. “Housing starts in Canada were trending at 189,742 units in March,” says the newest release. Mathieu Laberge, deputy chief economist for CMHC says, “As expected, the trend in total housing starts continued to moderate in March. Builders are adjusting to lower housing demand and as a result, completed and unoccupied units per capita remain close to their historical average.”

Cutting through the verbage, it seems that we’re down in Ontario and Quebec, and up in the West and the Maritimes, but not by much.

One of the points that came out of BILD High-Rise Forum (see blog post) was that the industry needs to do a better job educating and informing the public about the state of the market. Putting these press releases in plain language might be a good place to start.

The average first-time homebuyer expects to purchase a $300,000 home with a $48,000 down payment, so says a recent BMO first-time homebuyer survey. The survey, released Tuesday, gave us a peek into the mindset of some of the most important buyers in the industry, the first-timers.

Conducted by Pollara, the survey sampled Canadians 18 years of age and over, and asked them questions about their home ownership plans, their thoughts on the new mortgage rules, as well as how they plan on achieving their goals of homeownership.

The report revealed that on average, first-time homebuyers expect to be mortgage free in 20 years, with 20 percent feeling as though it should take between 10 and 19 years to pay down their mortgage. The findings show that not only are first-time buyers educated, they are also prepared.

“Buying a home is one of the most important financial decisions one can make. It’s crucial that those planning to enter the market are well prepared – not only to manage their costs, but also to pay off their mortgage as soon as possible,” said Laura Parsons, Mortgage Expert at BMO Bank of Montreal. “Determining what your mortgage payments and overall costs of homeownership will look like, and then living in that financial reality for a year before entering the market, can be an effective strategy.”

Another interesting aspect of the report is the fact that recent mortgage changes haven’t really affected first-timers’ interest in purchasing a home. Of those surveyed, 66 percent say that the latest changes to the mortgage rules (which include lowering the amortization periods for government insured mortgages) have not affected their plans, while 19 percent reported that they will now wait a little longer before buying as a result of the changes.

“A shorter amortization is the most responsible approach to home financing; it’s something BMO has been encouraging their customers to consider for years, as it means becoming debt-free sooner,” noted Parsons.

59 percent of those surveyed noted that they have had to push back their home buying plans due to increasing home prices, and that same 59 percent wish that they had bought their first home five years ago.

The message is clear. First-time homebuyers continue to be confident in the real estate market, however affordability is a big obstacle, and will continue to be the biggest moving forward.

First-time homebuyers continue to adjust to the rules that are being placed in front of them, says a recent survey by our friends over at Genworth Financial.

An annual poll by Genworth asked 1,514 Canadians questions about their financial well being, specifically asking how prepared they are to make their first home purchase. The survey showed that there has been a significant rise in the amount of first-time buyers who put down more than 20 percent on their home purchase in 2013 when compared to 2012. 56 percent of those surveyed suggested that they put down more than 20 percent on their home purchase, up significantly from the 26 percent that was reported in 2012. In addition, 50 percent of those asked felt that it was getting harder to save for a down payment, which is also a 5 percent decline from 2012′s numbers.

“Canadians entering the real estate market are making financially astute choices by saving longer and putting down larger deposits on their homes,” said Brian Hurley, Chairman and CEO of Genworth Canada. “They continue to value homeownership and are being responsible about the way they enter into mortgage debt. This trend bodes well for a soft-landing of the housing market.”

Additionally, the amount of first-time homebuyers who are saving for a short term purchase has declined. The amount of people who are looking to make a purchase in less than two years is down 30 percent, while those who are saving for a purchase in the next five years has risen by more than 50 percent.

“There is still a strong need for Canadians to have a better grasp on their financial situation,” said Henrietta Ross, CEO of Canadian Association of Credit Counselling Services (CACCS). “More than 40% don’t think their credit rating reflects them or don’t know what their credit rating is. Counselling could help ensure they are financially prepared to enter and maintain substantial investments, such as homeownership.”

The interviews were collected online last month.

So what does this tell us? It looks like first-time homebuyers are more prepared this year. They are ensuring that when they do choose to purchase, they will do so with a significant down payment. Sounds to us like Canadian purchasers, as we have seen in the past, are continuing to show excellent judgement as they enter the real estate market.

The day finally came. King Blue Condos is now open to all! The King Blue team, as you know, throws a pretty great party. This time, they outdid themselves by getting Wendel Clark, former superstar of the Toronto Maple Leafs, to come out for the special day.

The Grand Opening of King Blue Condos

If you weren’t there, you missed quite a lot. The King Blue Presentation Centre was bumping with sales reps and potential condo owners, the Gupta family was hanging out and chatting with people, and you know, Wendel Clark was there!

A great deal of fans showed up to meet Wendel Clark, and they all received a signed puck. There was even a photographer there to take your photo with the Leafs legend, and a print out was available just a couple minutes later.

There was also a great spread of hors d’oeuvres and beverages, and of course, the model suite was open for touring. This was definitely one of the most exciting Grand Openings that we’ve ever been to!

What’s available at King Blue Condos

King Blue Condos is being presented by some of the best in the new homebuilding industry. The building design is by Page + Steele/IBI Group Architects, the chic interiors are by Munge Leung, and you have the Easton’s Group and Remington developing it.

The suite sizes at King Blue Condos range from 400 to 1,100 square feet, and boast a wide array of very impressive interior features and finishes. Also, residents will have access to some pretty amazing amenities, like a 5,800 square foot rooftop terrace!

If you’re interested in checking out the latest and greatest in the Entertainment District, then pay a visit to the King Blue Condos Presentation Centre at King and Blue Jays Way in downtown Toronto. Wendel Clark won’t be there this time, but the model suite is very cool, and you just need to see it!

Visit our Facebook page to view more photos of the King Blue Grand Opening!