Aura Construction Begins

Berardo Graziani is thrilled ground has at last been broken on Aura, the 75-storey skyscraper that will soon be the tallest condo tower in Canada.

“There’s a sense of relief,” says Graziani, a principal with Mississauga-based Graziani + Corazza Architects, the firm that designed the skyscraper, which had its official construction launch Friday.

Mayor David Miller and Councillor Kyle Rae joined Michael LaBrier, president of Aura’s developer Canderel Stoneridge, for festivities at the building site on the northwest corner of Yonge and Gerrard, currently home to a parking lot.

“For the last year and a half or so, all we were hearing from clients and people in the city was, ‘Is that thing ever going to go ahead?’ ” Graziani says. “We heard all kinds of rumours: that it was dead, that it was being sold. . .

“So for us to now say, it’s actually going ahead, that we’re digging at the site, it’s a great feeling and a great accomplishment for our firm.”

Indeed, with dirt having been officially turned, Aura has triumphed over a rival iconic super-condo, 1 Bloor, which was to be 80 storeys before the project failed last summer amid the economic maelstrom. (The Great Gulf Group recently launched a new One Bloor project, which will be 65 storeys.)

“I think (starting construction on Aura) is significant for the industry and the economy in general,” says Riz Dhanji, vice president of sales and marketing for Canderel Stoneridge. “It shows that big buildings can get built.”

And what a building it will be.

When completed in 2012, Aura — a 245-metre tower, the fifth tallest in Toronto — will boast over 1.1 million square feet of space, including 931 residential units and 180,000 square feet of retail offerings. The fifth floor will have a landscaped rooftop, with a fireside lounge and al fresco dining area.

There will be four levels of penthouses: 14 sub-penthouses and an 11,370-square-foot, $17.5 million top-floor unit.

Aura Condominium. Consensus reached by a number of architects

The penthouse will have five bedrooms (with separate his and hers walk-in closets), six bathrooms (including separate his and hers master bathrooms), a sunroom with Jacuzzi, and a private art gallery.

It will also have 13-foot ceilings and floor-to-ceiling windows with — needless to say — 360-degree vistas. “It’s going to be the tallest condo in the city, so you’re not going to have anything obstructing your view,” Dhanji says.

The retail space will be housed within Aura’s four-storey glass podium, with primary access through the building’s north side along a resurrected stretch of Hayter St., which will serve as the pedestrian corridor.

“We located the main entrance to the retail at the corner of Hayter and Yonge because we think having the pedestrian traffic movement from that corner is key,” Graziani explains.

“The more knee-jerk approach would have been to put it at Yonge and Gerrard, but we moved it so all the main public spaces are along that northern edge.”

The retail will be anchored by a 50,000-square-foot Bed Bath & Beyond. Other tenants announced so far include BMO and Alice Fazooli’s and Canyon Creek restaurants.

“Yonge and Gerrard will be the next Yonge and Dundas for downtown shopping,” says Dhanji. “It’s going to become a mecca for people and completely change that corner, which is one of the last prime corners downtown.”

That’s welcome news to Rae. “The eradication of surface parking lots is my favourite pastime, and that’s a very large surface parking lot,” he says, referring to the site’s most recent use. “It’s an eyesore. It’s like a broken tooth on the smile of Yonge St.”

Aura Condominium, Gerrard - Toronto

That unsightly gap will be filled in with what Graziani describes as “a tower made to be seen as a sculptural element in the city skyline. People will remember it when they see it.”

In designing the structure’s base, architects took cues from the old Eatons building at College Park. They adopted similar heights and scales for the Aura podium, and will build it using limestone and granite, materials found in the 80-year-old art deco landmark.

But Graziani stresses Aura won’t be a heritage-style building. “The detailing and design is 2010, not 1930,” he says. “It speaks to what we are today. It will stand the test of time because it’s not pegged to any one specific type of design or era.”

SHIFT IN LIFESTYLE

Aura originally was envisioned as two smaller towers, but ultimately it was decided to combine the over 1 million square feet of space into a single super-structure. “This really fits the model of intensification,” Graziani says, noting that Aura will be built above the College TTC subway station, helping to “reinforce transit use in the city.”

Rae sees Aura as emblematic of a shift in Torontonians’ lifestyle preferences, a project that speaks to a renaissance of the city’s core.

“People are deciding to pull up stakes in the suburbs and come back downtown,” he says. “And I think Aura is a good example of an optimal location for people who’ve decided they’d rather walk to work; or if they’ve left work, they want to enjoy where they live and not be in constant traffic and turmoil.

“It’s about quality of life,” he adds, “and Aura will provide that in abundance.”

Concourse at College Park, Toronto Canada

The greatest challenge in designing Aura was integrating the structure with what’s currently at ground level and below-grade on the site, including planning for a future PATH walkway connection and tying in with the existing retail concourse at College Park.

Designers went to great lengths to incorporate Barbara Ann Scott Park, an under-utilized urban refuge. “All the other buildings on this block basically turn their backs to the park,” says Graziani. “There aren’t eyes on the park at the pedestrian level, so it’s not a very comfortable space to be in, from a security perspective.”

When Graziani’s firm planned the first two towers of Residences at College Park along Bay St., “we designed townhouses that front onto the park, with access to them from the park,” he notes.

Similarly, Aura’s lobby area — which is to be fronted by a large glass-enclosed public art gallery — will overlook the three-acre park, and Hayter St. will serve as the main pedestrian gateway to it. “It’s going to announce the park on Yonge and make a comfortable and inviting entry,” says Graziani.
[mappress]
With construction now underway, attention shifts from Aura’s base to the tower itself — and how to actually pull off a structure of this magnitude. “As we go up,” he says, “that’s when the challenges really begin.

“Architects can all create beautiful renderings, but to actually see it fulfilled and constructed and to achieve what our vision initially was — that’s going to be the true reward.”

“But that’s when we pull it off,” he cautions. “We’re not going to have any parades right now.”

Once Aura is completed, though, and Graziani’s firm can lay claim to having designed the tallest condo in the nation, he admits it will be a pretty big trip.

“To say it doesn’t affect you personally would be a lie,” he says. “It’s quite a feat. And we’re a fairly young firm, so it feels good to be a part of a development of this stature. It’s a nice feather to have in our cap.”

The big question, though: How long will Aura remain the tallest? “I think it’ll probably last quite a while,” Graziani says. “But who knows. Records are made to be broken.”

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Toronto Condos and Estate homes decided this week to most ignorantly ignore the North American house pricing trend and in a dramatic reversal have simply decided to arbitrarily increase their value. That’s the headline and if it wasn’t for the implication that houses have minds of their own, it would almost be believable since the reality of the situation really isn’t far off from this headline.

Toronto Condo Pricing

Unless you have been living under a rock ( and a pretty big one at that ) it would have been hard to ignore the financial crisis of 2009 that caused the G8 to morph to the G20 and which finally exposed the toxic nature of the US Mortgage situation.

Btw, the G8 is trying to figure out what its new role is since the G20 now appears to have taken over much of what the G8 group of countries use to hold as their exclusive domain. The breakdown, as many of you know know, was primarily caused by 2nd and third tier lending institutions in the United States who basically gave mortgages to nearly anyone with a pulse.

There were large families with little income to support their loan applications who got not one nor two but sometimes as many as 3 mortgage loans approved. Like I said, you really only needed a pulse and a valid drivers license and some would dispute whether you needed the latter at all.

So house sales went through the roof in a 10 year upward climb in which a 200,000 condominium climbed to 275,000 then to 325,000 et al until 8 years later it was being remortgaged at 600,000 while a fleet of Cadillacs and expensive SUV’s lined the driveway.

The mortgages were bundled into fixed asset allocations and resold from the original third tier lender to second tier lenders who bundled in some better backed mortgages and then on to first tier lenders who repackaged them, mixed in a few more securities and whom then resold them internationally.

This isn’t quite the definition of a Ponzi scheme but to when a European bank finally called the bluff and demanded payment the entire house of cards started to fall. I know I said it wasn’t exactly a Ponzi scheme but to those losing their homes as prices and home values plummeted below the very high remaining mortgages the effects were the same. They simply lost everything.

Controversial action on the part of the US Govt coupled with European, Japanese and then G8 emergency action managed to stave off a what was a pretty certain collapse of the banking system but so far as everyone was concerned both consumer confidence and existing home pricing had collapsed dramatically.

Yet here we are, just 3 measly months later looking at the real-estate picture and realizing that there are at least 3 really bright real-estate communities in the US in which house pricing not only didn’t collapse but have held steady. Not surprisingly, these communities tend to have regional banks with different lending policies and or have gone through massive but painful manufacturer restructuring in the near past.

Lake Ontario Condominiums

Surprisingly Canada has its own exception, Toronto. Toronto’s Condominium and Estate Homes ( those over 600,000 ) have not only NOT collapsed but are inching skyward month over month. If the UK bookies were betting on this, they would probably give you strong odds that this quiet market will stop inching upwards and take a fantastic little leap in the very near future.

People more educated than myself have taken a half dozen educated guesses as to why this might be happening and most of them might be right on the money.

Here are a few of the reasons postulated :

Canada’s banking system was only in danger because no banking system is an island but having said that overall Canadian banks had very minor exposure to toxic loans and a smart group of investors moved quickly to organize and mitigate the risk that was exposed.

Canadian immigration which has a large and growing number of professional middle class families stayed steady, serves to push the housing market strongly at all ends.

Ontario’s premier has decided he needs more taxes and introduced a harmonized provincial/federal tax structure whose only real goal is to tax additional items that were not being taxed before. No, this isn’t what the premier is saying out loud but if the revenue to the province were to decrease would he have done this? Sometimes, one needs to only look at which culprit benefits in order to see the true motive.

In any case, this new HST which comes into affect just before summer will additionally tax Condominiums and Estate homes with those over 400,000 taking the brunt of the blow.

The upsell of this, is that ahead of the HST implementation and because of the pent up demand while potential buyers were waiting out the 2009 financial storm the supply and demand equation has shifted positively for those whom are supplying and less virtuously for those wishing to buy.

So, do I hear the phrase “perfect storm” yet? Uhmm maybe but there is more good/bad news so hold your horses. Like many other western countries, Canada’s interest rates are at all time historic lows. I am not going to say that its a 60 year low but it has to be pretty close to it.

For those without their thinking caps on, low interest rates make your monthly carrying charge on your home significantly lower, so being able to afford 1500 in carrying charges may get you a 500,000 dollar home instead of a 275,000 dollar home. Which one of these would you prefer ?

The bank of Canada would love to start nudging the rates back up but the currency speculators

Bank Of Canada - Interest Rate Movements

who historically dabbled infrequently in the Canadian dollar/US Dollar exchange rate are now camped aggressively in broad daylight – just watching to see what will happen here.

Again for those not in the know, higher interest rates attract more foreign currency particularly when the Banking system offering the higher rates is one of the strongest in terms of stability in the world.

Do I hear you quietly mouthing the words “perfect storm”. But ( and dear Mrs Richards, my former english teacher, told me never to start a sentence with ‘But’ ) there is more good/bad news for Toronto Condominium sales pricing.

A good part of southern Ontario’s manufacturing output is closely tired to the car industry. The car industry has regained some of its lost ground and GM and Toyota are once again adding additional shifts and substantially increasing production. This isn’t something that is going to happen, it has in fact happened within the past 3-4 weeks.

And lastly, it appears as if Toronto is currently running out of available Condominium space that will be availabe in the next 12-18 months. The inventory levels are getting lower and as they move towards some critical point its hard not to see a mass rush for units occurring.

Ok, you can say it out loud now – “A perfect Storm”

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* See a Sales Representative for full details. Brokers protected. Prices and specifications are subject to change without notice. Rendering is Artist’s Concept. E.&O.E. ]]> http://torontocondos-forsale.com/233/bravo-boutique-condominiums/feed/ 0 http://torontocondos-forsale.com/218/lumiere-condominiums-bay-street-condos-in-toronto/ http://torontocondos-forsale.com/218/lumiere-condominiums-bay-street-condos-in-toronto/#comments Mon, 18 Jan 2010 19:28:03 +0000 Alyson Monetti http://torontocondos-forsale.com/?p=218

Lumiere Condos in the heart of Toronto’s Financial District

Where College Street meets Bay Street, a bright new shining star has been created. A place away from work and yet within walking distance for many.

A place where enlightened living bathes in the richness of the ultimate in elegance and simplicity.

This is Lumiere, a shining beacon of urban lifestyle choices in the nucleus of the financial  district of Toronto.

Lumiere is where business and pleasure meet just moments from the centre of Canada’s business hub.

Lumiere Condo Building, Bay Street Toronto, Canada

Menkes vision has been clear from the beginning. Lumiere was to be more than just another condominium. It was to be an idea whose time had come.

Sleek, sophisticated design conceived to bring a new light to Toronto’s business heart.

Sweeping vistas glow through floor to ceiling glass; interiors beam with modern design, and at its peak, on the roof, a vibrant green space creates an island of serenity far above the hustle and bustle of Bay Street.

Unsurpassed amenities, create one of the brightest lights. A multipurpose event room offers a fully equiped catering kitchen. There is a gleaming aquatic centre with indoor pool, private cabanas and outdoor sundeck and patio.

Come to the light, Lumiere beckons.

Lumiere Bedroom Condo - Financial district Toronto

Soaring 30 story tower of glass, pre-cast and brick.

Two-story lobby with visitor seating lounge and glowing open fireplace

24 hour Concierge

Games and entertainment room

State of the art exercise facility with men’s and women’s change rooms, showers and saunas.

Fully equipped gym with separate cardio and weight areas.

Yoga/meditation room

Hollywood style screening room

Landscaped rooftop terrace with BBQ’s, seating and sundeck

Management office and private board room

Two Luxurious hotel styled guest suites

Four passenger elevators

Individual storage/bicycle lockers

View of Toronto Lumiere

Business meets pleasure in this ultra cool neighbourhood filled with hip dining choices, vanguard clubs, trendy shops and cultural icons like the ROM, the AGO and more,

This is life in the fast lane, where all the advntages of the city are at your fingertips.

And yet amid the brisk pulse of the city, you will find parks, bike trails and walking paths that offer a quieter, lighter pace.

This is life in the city and it radiates from Lumiere.

Waterscapes at Waterview

This fall, Waterscapes at Waterview opened the door to a brand new opportunity for lakeside living at Monarch Corporation’s master-planned urban resort community in the Humber Bay Shores area of Etobicoke. Monarch saved the best for last with Waterscapes, the fifth and final tower in this captivating collection of lake-inspired condominiums.

A tour through the stunning model suite offers an appreciation for Monarch’s hallmark design quality, as well as a fresh and beautiful example of the decorating potential in these innovative layouts.

Appointed by Carmen Dragomir, owner of Esqape Design, and designer Jennifer De Sousa, the two-bedroom and den model’s décor takes its cue from the fashion world.  The suites take advantage of the spectacular views, with Waterscapes being right next to the lake.

“My background is European, and I believe all design trends come from fashion trends,” Dragomir says. “This year, navy with white and black in a nautical theme are strong, and of course, Waterscapes has a strong lake theme – the connection is natural. Our goal was to create a timeless design that provides potential buyers with a new way of looking at the suites here as having unlimited possibilities. The nautical theme returns season after season and can be reworked to maintain a fresh appeal, so it’s perfect.”

Dragomir says she and De Sousa made white the dominant background colour for its calming effect. “It allows people to bring in their personal touch with vibrant accessories,” Dragomir says. “It’s like breathing in fresh lake air, and works hand in hand with the amount of natural light coming in through floor-to-ceiling windows.”

The contemporary kitchens at Waterscapes feature granite kitchen countertops; the choice of mosaic glass tile, ceramic or porcelain tile backsplash; a pantry and/or breakfast bar as per plan; a complete brand-name stainless-steel appliance package; and an island with a temperature-controlled wine fridge as per plan. The open-concept main living area in the model suite includes a linear kitchen that allows for the dining table to be placed against the spacious island.

“The kitchen today is a place to cook and entertain,” Dragomir says. “Using white for visual continuity has a minimalist feel to it, which ties it to the living room, where the palette is minimal to allow the views to dominate. This location has so much to offer that we used elements that reflect the outdoors, such as large mirrors. Whichever way you approach them, you see water and sky. We also used artificial grasses and a sandstone bowl with river rock.”

The navy wallpaper continues into the second bedroom for continuity, and the master bedroom carries through the white theme.

“We used navy as a dashing companion and dampened it with silver tones in the throws, pillows, decorative bowls and table lamps,” Dragomir says. “We used high-gloss shelving in the ensuite and contrasted it with a dark charcoal cabinet. In the den, which has no windows, we placed an image of water onto a backlit acrylic piece. This keeps the visual-to-mind connection of water always present. We wanted the entire suite to be smart, stylish, functional, comfortable and to match the personality of the market. People here want to be near the lake.”

Waterscapes’ elliptical-shaped exterior also incorporates a private landscaped interior courtyard, a landscaped rooftop retreat with a barbecue and leisure area, and an eco-friendly green roof over the four-storey podium. Residents will enjoy 24-hour concierge service from the two-storey lobby, plus the exciting amenities in the Waterscapes Club including a special occasion/party room featuring access to the patio and opening onto a terrace, a lounge with a billiards table and television, an indoor swimming pool, hot tub, saunas, screening room with cinema-style seating, fitness centre, pet-grooming room, conference/business room, two designer-decorated guest suites, car wash bay and bicycle storage room.

Monarch has also incorporated numerous environmental initiatives into the design that reduce total building energy consumption.

Suites range in size from 465 to 1,605 sq. ft., with prices beginning from $189,990. [mappress]

Estates Of Credit Ridge, Brampton Ontario

Ideally located in the heart of the lush Credit River Valley, Cachet Estate Homes is proud to introduce the Estates of Credit Ridge. This stunning collection of detached estate homes located on a choice of fabulous ravine lots in Brampton provides a community feel minutes from the conveniences of a thriving city.

The Estates of Credit Ridge are only a short drive away from major shopping centres and recreation and schools and the close proximity to GO Transit and major highways make this neighbourhood a commuter’s dream.

This carefully planned community includes parks and community ponds that all blend harmoniously into the natural surroundings.

The Signature, Master and Estate home collections feature innovative and unique architecture. All elevations are under strict architectural and colour control to ensure a truly harmonious and integrated streetscape in the Estates of Credit Ridge.

Home features include 2″x6″ wood frame and steel beam construction with genuine clay brick and/or stucco, precast stone, stone details, key stones, decorative frieze board, masonry soldier coursing, brick or stone quoins, and coloured mortar.

Many models boast covered front porches, porticos or architectural entry details with manor-style metal insulated front doors and glass door lights (as per plan).

The interior design of the Estates of Credit Ridge will truly take your breath away with the gracious open concept inspired interiors with innovative features including accent cathedral, vaulted, coffered ceiling, and furniture niches (as per plan).

All homes feature 9′ ceilings on first floor, 8′ ceilings on the second floor except in sunken or raised areas, stairways and where there are raised, dropped or cathedral ceilings. Choose from four styles of passage and closet doors. The main floor features 8′ doors and 8′ trimmed arches

The finished lower level includes oak staircase, carpeted recreation room, hall, closet and office/den, finished three piece bathroom complete with ceramic tiles on floor and bath enclosure, as per applicable plan.

An elegant oak staircase from main to second level features solid oak handrails, oak treads, risers and stringers and choice of three styles of pickets, in black iron or natural finish with sealer and clear semi-gloss urethane.

Spend a lazy day in front of your oversized 36″ raised gas fireplace with choice of formal painted mantle and four piece marble surround (as per plan).

Other luxurious features include pre-finished hardwood in choice of three colours in main hall, living room, dining room and family room. Your foyer, powder room, kitchen, breakfast room, all bathrooms and laundry room feature imported ceramic tiles.

Floor plans range from the 2,513 square foot, four bedroom Blake model to the 5,605 square foot, five bedroom Versailles.

Founded in 1981 by Anthony Auciello, Cachet Estate Homes has always been synonymous with quality, custom-built homes and master planned family communities. With a proven record of designing and building exceptional homes of genuine character, Cachet Estate Homes enjoys the enviable reputation of being an industry leader in delivering true value to its homebuyers. Although there are thousands of new homes in the GTA, only a very few have that certain “Cachet’” that sets them apart from the rest.

Liberty Market Lofts, Toronto Canada

Lifetime Urban Development Group and BLVD Developments are the developers behind Liberty Market Building, the village’s most desirable retail and office complex located at the centre of the village, and the chic Live/Work condo, Liberty Market Lofts, set to be constructed just to the south.

Launched earlier this year, Liberty Market Lofts will offer phenomenal live/work opportunities in this popular locale, with ceiling heights in most suites rising to an incredible 17 feet. For a limited time only, each loft purchase will come fully loaded with $10,000 worth of Apple equipment, so residents can take full advantage of Apple’s latest gear for home and office.

$10,000 in high tech Apple Equipment

Liberty Market Lofts will rise to 13 storeys on the penthouse level, with fabulous city and/or lake views from all floors. Award-winning Rudy Wallman of Wallman Architects designed the building, which also includes a private landscaped courtyard.

Being situated next door to Liberty Market Building will provide residents with a great mix of over 50 different retail stores and restaurants right at their doorsteps. Restaurants currently include Atelier Thuet, led by renowned Chef Mark Thuet; The Brazen Head, Toronto’s largest pub with three outdoor patio spaces; Merci Mon Ami; ORO Cucina; and a new high-end restaurant set to launch early next year.

In addition, residents will be able to shop for furniture at stores such as Casalife Furniture and Haveli Home, get their hair styled at Salon Tocci, take Latin and ballroom dance lessons at Danceology, or enjoy a massage, acupuncture treatment or therapeutic wrap at Balance Integrated Healthcare, all tenants of Liberty Market Building.

The spectacular amenity space in the building is by Kelly Cray of internationally acclaimed Chapman Design Group. This space includes a business centre with multiple meeting rooms that can be combined to create a large boardroom with video conference capabilities, plus wireless Internet access throughout the ground floor.

Among the building amenities are

• executive concierge service,
• reception area,
• an art gallery will feature rotating exhibitions throughout the year.

Owners will also have exclusive use of the residents lounge with

• full kitchen,
• a tool room,
• pet spa/grooming facility,
• fitness centre
• An indoor basketball half-court
• yoga room,
• plus a laundry area that can handle oversized loads.

Comfort and panache dominate the suites, and each has a large balcony and terrace. Standards include hardwood flooring throughout; 40-ounce broadloom or sisal in the bedrooms; Chapman Design Group custom kitchen cabinetry; quartz or granite countertop; European brand-name appliance package; Chapman Design Group custom bathroom vanity; soaker tub and separate glass shower.

For almost 30 years, Lifetime Urban Development Group has been building and developing fine residential and commercial properties across the GTA.

BLVD Developments is a full-service real estate development firm recognized for its design passion and creation of desirable, distinctive downtown condominiums.

Liberty Market Lofts suites range from studios to one-bedroom, one-bedroom-plus-study/work, two-bedroom and two-bedroom-plus-study/work designs in sizes from 390 to 1,190 square feet, priced from $179,990 to $562,990.

First occupancies are slated for Spring 2011.

[mappress]

• Fabulous units start from $159,900
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• Walking distance to entertainment, sports venues, the waterfront, parks and shopping.
• Location Spadina and Front Street, Toronto
• Occupancy in the Fall of 2012

Fly Condo - Incredible VIP opening special 154,900

RESERVE BEFORE PUBLIC OPENING, MAKE AND SAVE $1000’S

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