Jun 25

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LEASED: 88 Palace Pier Court Unit 208

By Mark Savel Sold Properties

leased

88 Palace Pier court PH 208

Nevis Condo

Price: $1,900/month

Bedrooms: 1

bathrooms: 1

Lake front living

Enjoy lakefront living from this one-bedroom penthouse at 88 Palace Pier! Entertain friends and family in the open-concept living/dining area or unwind after a long day on your private balcony with sweeping views to the north. A well appointment bedroom has ample space for a queen-sized bed, along with generous closet space.

Escape the city hustle, and hike the waterfront – located steps from the front door. The building comes well equipped with 24 hour security/concierge and a gym. One parking spot is also included in the monthly rent!

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Jun 08

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Toronto Real Estate Market Report – May 2020

By Mark Savel Monthly Market Updates

The month of May marked the second full month of Covid-19 lockdowns in the City of Toronto. See how each real estate segment performed during the month.

Jun 04

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LEASED: 600 Fleet St #206

By Mark Savel Sold Properties

For Lease – this one bedroom condo at 600 Fleet St offers the perfect size and space for a downtown condo. Parking and locker are also included

May 07

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Mother with daughter walks outside in masks

Toronto Real Estate Market Report – April 2020

By Mark Savel Monthly Market Updates

The month of April marks the first full month of Covid-19 lockdowns in the City of Toronto. See how each segment performed below

Nov 26

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Visiting The Harpa Concert Hall in Reykjavik Iceland

By Mark Savel Toronto

Iceland is home to many things… waterfalls, lagoons, and even really, really, realllllly good hotdogs – but did you know, it’s also where you’ll find one of the BEST DESIGNED BUILDINGS IN THE WORLD!

Located in downtown Reykjavik, The Harpa Concert Hall (as it is officially known) is home to the Iceland Symphony Orchestra and the Icelandic Opera. It has four large halls – the largest can accommodate up to 1800 seats. But it’s size alone isn’t the only reason why you can’t miss it… the envelope of the building is wrapped with 714 uniquely shaped glass panels, each giving off a different colour or shade depending on how the light hits it! It is also the proud winner of the prestigious European Union Prize for Contemporary Architecture – Mies van der Rohe Award, the European Commission and the Mies van der Rohe Foundation beating 335 other works from 37 European countries!

The History of The Harpa

The hall was designed in collaboration with Danish-Icelandic artist Ólafur Elíasson along with his Studio, and the Danish firm Henning Larsen Architects who also built the Opera House in Copenhagen.

Harpa celebrated its opening with a concert on May 4th, 2011 – but its rise to fame started much earlier. Construction started in 2007, and at that time the plan was to build an “Icelandic World Trade Center” complete with hotels and luxury apartments. But then the financial crisis hit in 2008, and deeply impacted the country. Things got so bad that the project was essentially put on hold and sat half finished. Thankfully Icelandic Government stepped in to save the project and funded it to completion.

According to the Grayline Iceland blog, the hall got its unique name through a public competition: Over 1,200 residents entered over 4,000 names. The winning name, Harpa, is an Old Icelandic word that refers to a time of year, and it is also a month in the old Nordic calendar, and the first day of the month of ‘Harpa’ as it was known was the first day of summer.

Visiting The Harpa Concert Hall

After crossing waterfalls, and hot-springs from your to-do list, be sure to include a stop at The Harpa. It’s free to visit, though access to certain areas may be restricted while events are being held. It shouldn’t take more than an hour to see, and offers a warm refuge from the windy Reykjavik streets!

Visiting The Harpa for your first time is much like walking into a giant igloo (much warmer of course)! The sheer size of the place is incredible, and the transparent walls allow for some spectacular views of the bay and mountains in the distance. The ceilings are capped with reflective mirrors that further distort the sense of space inside the Hall. You’ll be in awe at the architectural and engineering marvel that went into its construction… but if “world-class design” isn’t your thing, there’s also a restaurant and gift shop (complete with furry hats) – as well as guided tours of the Hall.

Prior to visiting Iceland, I had no idea the Harpa even existed. With all that the country has to offer, visiting “another building” never really registered on the itinerary of things to do – but after seeing it’s beauty first hand, I’d highly recommend it as something everybody should see while in Iceland… below are some of the other sights we took in while on the trip:

Nov 16

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Home rental ideas, loans, mortgages and real estate valuations for sale.

Doug Ford Scales Back Rent Control In Ontario – How Will It Impact The Market?

By Mark Savel Advice for Landlords, Video Blog

On November 15th, 2018 Doug Ford and the Conservative Government announced plans to scale back rent control in Ontario. The plan will reverse the April 2017 “Rental Fairness Act” originally put in place by Ontario’s then-Liberal government which expanded rent control to all private rental units in Ontario.

Who Will Be Impacted By The Changes to Rent Control?

The new policy will not impact all units in Ontario but rather all newly built units occupied AFTER November 15th, 2018. That means that if you’re planning on renting a unit that was built and occupied PRIOR to November 15th, 2018 – these changes will not impact you at all, and rent control will continue to be in place. Units that are subject to rent control can only increase the monthly rental rate by a predetermined amount set by the government each year. For units without rent control – there is no cap for how much you can increase per year!

How Will The Loosening of Rent Control Impact The Market?

Our first reaction to the change was that this would be HUGE news for the pre-construction market. On the surface, a condo with no rent control seems very appealing to condo investors. But digging (in the video below) a bit deeper, reveals that possibility of the opposite being true…

With these new changes, Tenants will have a choice between living in a rent-controlled unit with relatively minor yearly increases, versus non-controlled rents that can spike to any amount each year. Our assumption is that a tenant will be willing to pay more at the start of the lease in exchange for the stability and peace of mind that a rent-controlled unit will offer them.

In 2017, Toronto saw a big jump in rental prices once the “Rental Fairness Act” came into effect. Since landlords knew they would be limited in how much they could increase the yearly rent, many came to market on the higher end in an effort to hedge against lost rental rates for units with long term tenants. We anticipate a similar impact as there will be an even higher demand for units with rent control.

How Will Changes Impact Landlords and Condo Investors

If you are a landlord of a unit that is built and occupied AFTER November 15th, 2018, you have the option of increasing your rent by any amount, once, per 12 month period.

For landlords of units built and occupied BEFORE November 15th, 2018 the amount you’re allowed to increase per year shall continue to be capped by the yearly amount decided by the government.

When trying to decide if your unit is subject to rent control, it’s important to remember that the date your unit was built and occupied determine if it’s impacted by the changes, and that it has nothing to do with when a lease was signed.

Lastly, remember that governments change… and just as the last one introduced rent control to all units, the same can happen in the next election. Whether you invest in a rent-controlled condo or one with no control, make sure you examine the pros and cons of each carefully!

Sep 13

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What Are They Building at Glencairn and Marlee? 831 Glencairn Ave

By Mark Savel New Condo Developments

Marlee Avenue is gearing up for another condo development! An application was submitted with plans for an 11 storey development at the South West corner of Marlee and Glencairn (831 Glencairn). The application was submitted by Masseto Homes Inc and Chestnut Hill Developments (who also built The Address Of Highpark and Life Condos). Plans are calling for an 11 storey midrise, with 224 units proposed!

Who Is Building The Condo at Glencairn and Marlee?

The project is being developed by Chestnut Hill Developments and Masseto Homes Inc. The building is being designed by Kirkor Architect + Planners and the application was submitted by Weston Consulting.

What Will the Condos at 831 Glencairn Look Like?

Early renderings depict an 11 storey mid-rise building, with commercial units on the main floor and residential units above. The commercial component of the building will face Marlee, with the residents accessing the entrance from Hillmount and Glencairn Ave.

The building will have a “set-back” design and with an angular plane from the neighbouring properties to the west. Each residential floor would contain between 8 – 33 units (with fewer units on higher floors). Renderings also show floor to ceiling windows, with balconies or terraces for most units! You can view more renderings below:

[Show as slideshow]

What is Currently on Site?

The future condo is being proposed on the commercial lands known as 831, 833, and 837 Glencairn Avenue and the residential addresses located at 278, 280 and 282 Hillmount Avenue.

What Type of Layouts Will 831 Glencairn Ave Have?

Plans are calling for a total of 224 units, with the following unit breakdown:

167 One Bedroom units
35 Two Bedroom units
12 Three Bedroom units

The proposal also states: the site would be served by 190 parking spaces, with 168 dedicated to long-term residential use and the remaining 22 for visitors. 185 of these spaces are to be housed in a two-level underground garage, with the remaining five to be located at grade. Bicycle parking would also be provided, with 179 spaces in the underground levels and 51 at grade.

What Amenities Will the Building Have?

Details are still sparse in terms of the exact amenities the building will have, but according to the proposal, they will be located on the 11th floor.

When Will 831 Glencairn Ave Be Built?

The development proposal was submitted on June 27th 2018. The project is still in its very early stages but is one we’ll be following closely… Check back often for updates!

Our Thoughts on the Project

This is the second midrise development proposal on Marlee, with the first, located on the opposite corner at 529-543 Marlee Ave. The proximity to Glencairn Subway Station makes this development very transit friendly. The area is ripe for development, but with many of the homes starting at $1.5 million and up, affordability is a big hurdle for most. A project like this is great for first time home buyers looking to live in the area. We also like the mix of 3 bedroom units, perfect for the older generation of residents looking to downsize!

Interested in Purchasing at 831 Glencairn Ave?

Fill out the form below to be kept in the know with prices, floorplans and launch dates:

May 12

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Loft Purchase

By Mark Savel Testimonials

Mark inspires a level of trust and confidence during one of life’s most challenging and risky moments, namely the purchase of a new home. Add to that risk the complexity of buying in Toronto’s market and the situation can lead to a roller coaster ride. Mark’s knowledge of Toronto’s market, his professionalism, calm and strong interpersonal skills are just what I needed in getting back into the market after 15 years. He understood my needs so well that I bought the first home he showed me after he steered me away from a lovely home with what proved a sketchy renovation that I had first seen on my own. My new home is utterly gorgeous and suits my lifestyle and creativity to a tee. It is a total pleasure working with a professional like Mark Savel and I will work with him again if I buy a third property.

– Cass

Feb 23

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What Are they Building at 529-543 Marlee Ave? 819 Glencairn Ave.

By Mark Savel New Condo Developments

More changes are coming to Marlee Ave! An application has been submitted by KFA Architects and Planners on behalf of 809726 Ontario Ltd to build a 9 storey, residential condo on the corner of Marlee and Glencairn.

Where Will the Condo be Built?

The lot is located on the North East corner of Marlee and Glencairn. The application was submitted to re-develop the addresses known as 529, 537, 539, 541 and 543 Marlee Avenue as well as 811 and 813 Glencairn Ave. For application purposes, the building is referred to 819 Glencarin Ave – but that name may change as the approval process progresses.