THE QUEENSWAY AND PARK LAWN
Prices dropped and suites redesigned
October 24, 2009
Amy Brown-Bowers
SPECIAL TO THE STAR
While several Toronto developments are stalled or have been cancelled in response to poor market conditions, developer Camrost-Felcorp opted for a different strategy altogether to revive sales at an Etobicoke development β it launched a war on prices.
The company has released redesigned suites beginning at $149,900 for 455 square feet at its California Condos project. It says this is the lowest price per square foot in the GTA.
"We felt the way to get things stimulated is to give people a price they can't resist. Similar to the way mortgage rates are so low right now, it makes no sense not to borrow money. At the prices we came out with, it made no sense not to buy," says Michael Firestone, vice-president of marketing for the company.
"We've had over 1,000 people in the sales office in just over two weeks.''
California Condos is part of the latest phase in Mystic Pointe, a 6.5 hectare master-planned community. The 32-storey building contains 326 units ranging from 455 square-foot one-bedroom units for $169,900 β the lower floor units priced at $149,900 are sold out β to 975-square-feet two-bedroom-plus-den units for $368,900.
The exterior of sculpted steel and glass panels ties in with the modern and sleek interiors. Suites include stainless steel appliances, stone countertops, laminate plank and imported ceramic tile floors, deep soaker tubs and nine and 10-foot ceilings with "massive windows and great views of the city and of the lake," Firestone says, adding floor plans are designed to be "open and airy."
With more than 75,000 square feet of amenity space, "we have a phenomenal amenity package," Firestone says.
Sharing with neighbouring condos iLoft and Tides, residents will have access to a sports and entertainment centre offering an outdoor pool, indoor whirlpool, outdoor running track, billiards room, cardio theatre, party room, sunning deck, movie theatre and squash courts.
"There's a whole gamut of recreational facilities that they will be able to take advantage of the minute they move in," Firestone says.
California Condos' exclusive facilities include an indoor swimming pool, a whirlpool with an adjacent martini bar, a circuit training auditorium, a Pilates/yoga studio, an open-air sundeck and a gym for court activities.
Nearby amenities include the Martin Goodman Trail and Humber Bay Park, a 24-hour Sobeys, Ikea, Sherway Gardens and a Cineplex. The development is a 10-minute drive to the downtown with access to the Gardiner Expressway, the QEW, Highway 427, the Mimico GO station and the TTC.
Construction is set to begin at the end of the year and anticipated move-in is toward the end of 2011. The sales and presentation centre, at 515 The Queensway, is open seven days a week. For information go to www.camrost.com or call 416-251-8888.
Toronto Star