The timeless allure of a condo pool, as seen with Pier 27
Experts share tips on avoiding fad-filled developments.
Ever hear of a condo with an in-house shoe shinery? How about a cat cuddle room to alleviate stress or a timeshare in the Barbados? These days, it's hard to separate condo fact from fiction when it comes to amenities and features.
A recent condo in Brooklyn, New York included a wine tasting bar as part of its amenities package. A luxury Manhattan condo currently in the works is advertising a Turkish bath — also known as a hamam —to satisfy the well-heeled owner who has everything.
This practice of creative condo amenities isn't new. In the early 1980s, a luxury downtown Toronto condominium called The Bentley gifted purchasers with a lifetime membership to the Rockley Resort, a timeshare in Barbados. While a Caribbean escape may sound enticing with our wind-chill winters, amenity trends can quickly become dated. Condo features from even a decade ago, such as golf simulators, business centres and single-lane bowling alleys, may seem laughable today, but they once had buyers lining up in droves.
So when you're buying how can you tell which features will last?
Focus on the classics
Sam Crignano, founding partner and president of Cityzen Developments, the firm responsible for the Pier 27 condo project at the foot of Yonge Street, says people lose interest in fads. Instead, classic features, such as a swimming pool, carry greater longevity and better value for your buck.
A pad to put up your visiting inlaws is good too. "Guest suites are popular and are booked frequently," Mr. Crignano says. "Also theatre and party rooms are always in demand."
One element driving the condo amenity craze is buyers' changing expectations. While marble or granite countertops were once an upgrade, they're considered a standard feature today. Forget about offering purchasers anything less than nine-foot ceilings; at the first two phases of Pier 27, 10 foot-ceiling heights are standard. At The Davies, a condo in pre-construction by Brandy Lane Homes nestled between Forest Hill and the Annex, the ceiling heights are 9 feet.
And in years past, you'd have been lucky if your condo party room had a foosball table, microwave, and hand-me-down furniture from residents. So developers are upping their game. At The Davies, its Avenue Room party space features a full catering kitchen adjacent to an intimate lounge space and dining area, as well as a conference room.
So what else is guaranteed to never go out of style? Well, even if it's just to work off that Christmas turkey, an indoor gym is something almost every resident will use at one time or another. A luxurious lobby, if the design is understated, will hold its wow-factor for decades.
Pier 27's interiors are by Studio Munge, an interior design firm whose specialties include luxury hotels and premium residential projects. The
Davies' elegant spaces are by Lukas Design Interiors. Both projects also have indoor gyms.
Left: The eye-catching exterior of Pier 27. Right: Its open, modern gym. The natural oasis of a rooftop reading garden will be part of The Davies.
Think green space
While Pier 27 (third phase under construction) enjoys a never-ending vista of Lake Ontario, private outdoor space, even if it takes the form of a Juliet balcony, is a plus. If you're lucky enough to buy in a building adjacent to a protected green space, that's as good as money in the bank. The Davies, at Avenue Road and Cottingham Street, overlooks Robertson Davies Park. It also boasts a rooftop lounge with an outdoor reading garden.
Reading gardens may seem like a niche feature, but in a city of readers — the Toronto Public Library has the highest per capita circulation of any library system in the world — this has widespread appeal.
Balance future with fun
It's also important to think about the future of technology. Fiber optics connectivity and a video game room may seem state of the art today, but these futuristic features can become a relic of the past far too quickly. Instead, look for non-niche technology items that have a greater impact on society, such as the electric car: At The Davies, each resident's parking spot will have an individually-metered, 110V power outlet, ideal for recharging your Prius or plugging in a vacuum for a quick tidy.
In her bestseller, French Women Don't Get Fat, author Mireille Guiliano says: "Learn to say no, with an eye to saying yes to something else." Sage advice, since this doesn't apply just to French food, it applies to condo buyers. It's human nature to want the newest, biggest, or trendiest, but it's healthier for one's return-on-investment to remember to balance the obviously trendy with the timeless. In fact, when buying a condo, try to adhere to a 70/30 ratio: Choose 70 percent timeless features, and indulge in 30 percent for trendy features.
Besides, isn't it more fun to keep the wine tasting at the winery and the cat cuddling to the living room?
This content was produced by The Globe and Mail's advertising department. The Globe's editorial department was not involved in its creation.