KARMA CONDOS, TORONTO
LOCATION: Yonge and College
BUILDERS/DEVELOPERS: CentreCourt Developments and Lifetime Developments
SIZE: 277 to 819 square feet
PRICE: $200,000s to low $600,000s
SALES CENTRE: By appointment only
CONTACT: Phone (416) 551-2744 or visit www.karmacondos.com.
Keeping up to date on the progress of the latest high-rise development by CentreCourt Developments and Lifetime Developments won’t cost potential buyers a penny. But their actions will buy a great deal of good fortune for others in the popular downtown community.
For each person who registers for updates on Karma Condos, the developers donate $5 towards local causes. To date, more than $15,000 has been raised.
“We believe everything we do has a strong impact on the neighbourhood where we build, and it’s our responsibility as developers to work with the community to design something that will positively affect the neighbourhood and positively affect change in the neighbourhood,” says Brian Brown, vice-president with Lifetime Developments.
“It’s a condo that cares.”
Registered buyers can even chose to allocate their donation towards either Ronald McDonald House, which provides lodging near hospitals for families with sick children; Wellsprings, which is a network of community-based cancer support centres; or Sketch, which engages youth at risk through art.
“We came up with three charities … we felt had very strong causes and very strong benefits to the neighbourhood,” says Mr. Brown, who adds that his staff also volunteers for these organization's special events. “So we’re doing different things to build on this good karma notion.”
For many buyers, the area is the main selling feature for the 50-storey glass tower, which will be conveniently located at 21 Grenville Street, near restaurants and shops along Yonge and College streets, a 24-hour supermarket at College Park and both Ryerson and the University of Toronto campuses.
“As far as the Yonge and College area, this is one of the hottest neighbourhoods and most desirable to live in,” says Mr. Brown. “But also, given how close this site is to the subway, it’s a location that can provide access to every single amenity, resource and location that anybody wants.”
This building, which was designed by architectsAlliance, will also become a destination of its own with new shops facing Grenville Street and an adjacent laneway that many pedestrians currently utilize.
“As people are walking down the laneway, they have something a lot more interesting to look at rather than just a laneway and backs of buildings,” adds Mr. Brown.
Private recreational amenities will consist of a large party room with a projection screen and dining room, a pub-like bar with poker, billiards and tennis tables, and a rooftop terrace with seating and barbecue facilities. In addition, there will be rooms for screenings, gaming and music and a fitness centre with weights, cardio equipment, yoga area and saunas.
“Cecconi Simone worked quite hard not only to design great spaces, but to come up with unique uses for those spaces,” adds Mr. Brown.
The rest of the tower, now in pre-construction, will contain 495 suites, ranging from studios to two bedroom plus den plans, including 50 units on the top five floors that were released this week.
“Ten per cent of our suite allocation is to units that would be three-bedroom convertible suites,” says Mr. Brown. “So they’re designed as two-bedroom or two-bedroom plus dens, but they can be easily converted to three-bedrooms should a purchaser want to do that at the time of purchase or further down the road.”
Units facing north and south will have balconies, however, each suite will have floor-to-ceiling windows, nine-foot ceilings and engineered wood floors, plus Energy Star appliances and energy efficient heating and cooling systems.
Kitchens and bathrooms will feature contemporary, custom Cecconi Simone cabinetry and stone or quartz counters.
Monthly fees will be 53 cents per square foot.
Parking will be purchased with select suites for $50,000. However, there will be auto share vehicles on site.
Occupancy is slated for September 2015.
Editor's note: This online version has been updated to change the amount of the company's charitable donation.