Toronto’s Newest Lifestyle Hub: The Well

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South West corner of Front and Spadina (source: www.thewelltoronto.com)

— Welcome to The Well —

The Well is one of Toronto’s largest on-going developments downtown.  The Well spans 7.8 acres down the western side of Spadina Avenue from Wellington Street to Front Street. This exciting mixed-use development is the first of it’s kind to take shape in downtown Toronto. Offering a live, work and play environment, The Well will bring a unique community lifestyle amidst Toronto’s bustling west-end city core.

 — Live —

Left: condominium towers; Right: office complex (source: www.thewelltoronto.com)

Tridel, Canada’s leading condominium developer, is taking the reigns on creating a sustainable and comfortable residential component to the development. The residential portion of The Well will comprise 1.43 million square feet of housing, appealing to a variety of Tenants, from luxury condo suites to rental units. Convenience will be a huge selling point for the residential units at The Well, with retail, entertainment, amenities and services, and transportation right at it’s doorstep, in addition to the comfortable and flexible lifestyle that is planned to be created here.

The Well Office Complex rendering (source: www.thewelltoronto.com)

 

 

— Work —

Allied Properties, one of Canada’s strongest players in urban office ownership and development, is handling the office component of The Well. The office space is targeting LEED platinum status, striving for sustainability and low environmental impact. Over 1,000,000 square feet of flexible professional workspace will be created in the development.

 

 

 

 

Interior rendering of retail atrium at The Well (source: www.thewelltoronto.com)

 

— Play —

The retail configuration at The Well has been inspired by European mixed-use developments to add to and further encourage an existing world-class atmosphere to Toronto. The retail hub will comprise over 400,000 square feet of shops, restaurants, eateries and entertainment. With a dense and highly populated surrounding area characterized with healthy and growing incomes in addition to major TTC routes, the retail component of The Well is bound for success. RioCan and RKF are handling the retail leasing.

 

 

 

— The Design Team —

Spearheading the contemporary and world-class design is a team of world renowned architects and urban designers.  The core values of the design mission will aim to create a people-focused property with human connection and community building in mind.  The team consists of:

Executive Architect: Adamson Associates Architects.

Design Architect: Hariri Partonini Architects.

Retail Architect: BDP.

Landscape Design: Claude Cormier & Associes.

Residential Architects: Wallman Architects and Architectsalliance.

Open-air retail rendering (source: thewelltoronto.com)

— Facts — 

Ages 24-35 = 31% of surrounding population.

Primary industries within a 1KM radius: Professional, Scientific and Technical Services, and Finance & Insurance.

239,100 people live within a 3KM radius.

Average household income in surrounding area: $98,048

510 Spadina and 509 Harbourfront transport approx. 55,550 people per business day.

The corner of Spadina and Front witnesses 7,100 pedestrians per day.

The lot used to be home to The Globe and Mail’s printing facility before relocating to the suburbs.

 

*All information, facts and photos sourced from www.thewelltoronto.com*

Retirement Home Rent Prices on Ontario Soar

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Millennials aren’t the only cohort feeling the rental squeeze.  The Toronto Star reports that an average rent for a one-bedroom space in Toronto retirement residences now costs more than $4,700/month.  This kind of rent of course comes with security, medical attention, and common areas for socializing etc., but it is very expensive for individuals already dealing with high medical bills and possibly no pension. With demand rising, vacancy in Ontario old-age homes reached an all time low in Ontario old-age homes reached their lowest point since 2001 at 10.4%, according to the Canada Mortgage and Housing Corporation’s latest seniors’ housing report.  Regions such as Niagara, Windsor and Kingston have become destinations for Toronto’s elderly as areas such as Etobicoke, Scarborough, Whitby and Oshawa are too expensive.  Read more here. 

5 Reasons Why The Toronto Housing Market Will Not Crash

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With all the huff and puff surrounding the real estate market in Toronto, and Premiere Kathleen Wynne’s recent measures to calm the market, here is an article by the Huffington Post with 5 reasons why the Toronto housing marketing will NOT crash anytime soon.  Especially number 5!

http://www.huffingtonpost.ca/nathan-dautovich/5-reasons-why-the-toronto-housing-market-wont-crash_a_22492197/?platform=hootsuite

Toronto City Council – New Proposed Regulations for Short Term Rentals

Performance Property Management

Over the weekend, the Toronto City Council released their new Proposed Regulations for Short Term Rentals that would put extreme limitations on renting your secondary home for short periods of time.  If passed, the proposal would ban short-term rentals in secondary homes. These proposed regulations will hugely effect owners of second homes, Toronto residents, small businesses, and the broader tourism community.  Websites such as Airbnb will suffer most.  How does this effect you?

Read the full report here: http://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-104802.pdf

 

3 Of the Most Common Tenant Complaints

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The Rental Isn’t Clean Enough Upon Moving In

It is rare that a tenant, who is moving out, leaves the rental move-in-ready for the next tenant. The simple solution to this problem is hiring a professional cleaning service to get it back to 100% clean. If you don’t want to pay a cleaning company than just make sure you clean it yourself just as thoroughly. Moving into a new place that isn’t totally clean will make your tenants think less of your professionalism.

The Rental is Too Loud

A noisy neighbour is common. Tenants should confront complaint situations with the noise making tenant themselves. If the noise maker is not a tenant of yours, it’s a good idea to contact the landlord of the noise maker and ask them to resolve it. Otherwise, you can approach the tenant yourself. Just make sure your tenant knows you’re taking the issue seriously.

The Rental Unit Needs To Be Painted

As a Landlord, you must decide whether you are against allowing tenants to paint your unit or if you are going to let them paint it is as they wish provided they re-paint it back to the original colour at the end of the lease. A good compromise with your tenant can be agreeing to any colour but the tenant agrees to repaint at the end of the lease, or limiting the surface area you are willing to let them paint.

There are probably 10 more constantly issued complaints from tenants that landlords and property managers hear every day. Reach out to Performance Property Management if you’d rather let professionals handle your complaints.

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