In
a recent 3-page news story in the Toronto Star regarding the gentrification
of Ossington Avenue between Dundas and Queen St., the area was
described as one of the hottest new areas of downtown Toronto.
The proliferation of shops, cafes & boutiques on this strip,
running directly north of the trendy Queen St. West area, is due,
according to the Toronto Star, to the trendsetting new "Toft"
condominium project recently completed by Willowfield Homes, a
division of Norstar Development Corporation. Willowfield Homes'
West Side Story was designed by the internationally-renowned architect
Gabriel Bodor who, along with Norstar's in-house design team,
combined the look of a Townhouse with the feel of a loft to create
the "Toft" – a new genre in the housing industry.
Purchasers
of Norstar Development Corporation/Willowfield Homes' Peartree
Estates project were pleased to see the recent Grand Opening of
a new townhouse project in the adjacent community of Port Credit.
This new community is almost exactly the same size and with very
similar product. Starting prices are almost $100,000 more than
Peartree purchasers paid. For the purchasers of Peartree Estates,
this was obviously a case of being at the right place at the right
time.
Another
indication of Toronto's red hot real estate market is Norstar
Development Corporation's "boutique" townhouse development,
Park Hill Place, in Toronto's chic Forest Hill area. It was completed
less than a year ago, and similar new townhomes in the immediate
area are now starting at $60,000 more than Norstar's purchaser
paid.
Norstar
Development Corporation's Independence Way, a 244-unit "Townsuite"
project, was heralded by the Toronto Sun newspaper as one of the
fastest-selling new home communities in the Greater Toronto Area
in 2004/2005. The "Townsuite" is the best of both worlds.
They look like Townhomes on the exterior, but since most of them
are on one level, they feel like a suite in a condominium building.
This is an ideal solution to low-rise condominium living. With
98% of the "Townsuites" sold and the construction well
underway, the sales office is being converted to an on-site decor
centre. Purchasers will be invited in on an appointment-only basis
to select their interior appointments. The remaining few Independence
Way "Townsuites" will be marketed from Norstar's Harmony
Village on the Humber River sales centre.
Norstar's
Harmony Village on the Humber River sold out their first phase
of luxury Townhomes before the "Official Grand Opening".
The second phase experienced a huge success when the Grand Opening
featured Townsuites priced from $159,900. The Grand Opening campaign
caught the public's attention by offering every new Townsuite
purchaser a FREE 2005 PONTIAC SUNFIRE SL. This resulted in over
$10,000,000 in Townsuite sales in record time. The Grand Opening
offer continues as the company prepares to open phase three. The
project is located in North York overlooking the historic Humber
River with a TTC (Toronto Transit Corporation) bus stop conveniently
located at the main entry into this private community.
Norstar
Development Corporation revolutionized Toronto's New Home Industry
in 2004/2005, and by doing so took a lion's share of the low-rise
market by deciding to explore new construction methods and materials
in the construction of low-rise homes. Industry standards had
always called for wood frame construction when building low-rise
products like detached, semi-detached or townhouses. At both their
Independence Way and Harmony Village on the Humber River Townsuite
communities, Norstar opted to build using concrete floors and
walls separating every Townsuite. One small step for man. One
large step for new home buyers.
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