Wednesday, February 8, 2012

Luxury Yorkville Living for Less?

We all know that living in Yorkville comes with a premium.  It's not unusual to find new condo developments priced well beyond $1,000/sq ft, and the market doesn’t seem to show any signs of slowing down.

So, are these skyrocketing prices justified?

Ask any realtor and they'll tell you it's all about “Location, Location, Location.”  Yorkville is, after all, where the stars come out to play -- if you want to share the same sandbox, you'll pay a premium to do so. 

But, other than the off-chance of rubbing shoulders with the Brad Pitts and George Clooneys of the world, what "premium" features and amenities are you really paying for?

Let's take a look at some of the most popular new condos as a point of reference.

A doorman will greet residents at Four Seasons Residences.

Four Seasons Residences, The St. Thomas and 77 Charles all offer future residents both a valet and doorman.  In fact, The St. Thomas will even indulge its inhabitants with a convenient hall porter.  Units in any of these buildings come with, at the very least, gourmet kitchens that will make you feel like a celebrity chef and luxurious, spa-like bathrooms that will make you never want to leave.  These are exactly the kind of homes that make for the perfect stay-cations.

So, what If you can’t justify the $1,000+/ sq ft price tag, but still want to live the "rockstar" lifestyle?  Take a closer look at some of the nearby developments and you'll find that just a few minutes' walk can save you $100,000's.

An entertainer's delight: Chaz's signature two-storey Chaz Club

Consider for instance, Chaz Yorkville.  Located just south of Yonge and Bloor, this more reasonably priced building is available for as low as $700/sq ft, with some unique amenities to boot.  Facilities will include a state-of-the-art computer gaming arena, a self-service pet spa that will allow residents to pamper their pooches in style, and not one, but two theatres (including a 3D Hollywood-style screening room).  A signature two-storey Chaz Club on the 36th and 37th floors is sure to be an entertainer's paradise, overlooking the lake and downtown skyline.

Alternatively, head over to One Bloor at Yonge and Bloor, and you'll find units starting around $700/sq ft.  This price point will get you beautiful, contemporary kitchens and baths as well as direct TTC subway access.  Some of its unique amenities include several hot and cold plunge pools, a year-round indoor/outdoor pool and fireplace features within over 46,000 sq ft of indoor and outdoor amenity spaces.

Yet another option lies at U Condominiums near Bay and Wellesley, where prices start in the mid-$700/sq ft range.  Residents of each of its two towers will enjoy their very own 4,500 sq ft penthouse amenities area with wraparound balconies and picture-perfect views.

Yorkville living certainly comes with a premium, but not without a few comparable alternatives that may prove more affordable, while still providing a competitive selection of premium features and amenities.

Interested in this neighbourhood?  Explore condos in Yorkville and its surrounding area here!