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Real Estate On Site: Roncy mid-rise aims for affordability in a hot neighbourhood

Occupancy is slated for 2016 but already 80 per cent of the units in the warehouse-style building have been sold.

383 SORAUREN

LOCATION: Roncesvalles, Toronto

BUILDERS Gairloch Developments and Centerstone Urban Developments Inc.

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SIZE 470 to 1,500 square feet

PRICE $289,000 to $899,000SALES CENTRE 383 Sorauren Ave., south of Dundas Street. Open Monday to Wednesday from noon to 6 p.m.; weekends and holidays from noon to 5 p.m.

CONTACT Phone 416-588-0383 or visit 383sorauren.com

Developer Bill Gairdner can relate to buyers faced with the challenge of finding an affordable single-family home in Roncesvalles. He lost several bidding wars in the popular west-end community before landing his own home.

His fondness for his new neighbourhood drove him to seek out an infill site for a boutique development suited for budget-conscious buyers who want a decent amount of personal space.

"My wife and I were in the house market looking at homes in the Roncesvalles neighbourhood and we were having a tough time, the demand was so high, supply pretty small and price point quite high," says Mr. Gairdner. "There are not a lot of options and not a lot of – in my opinion – quality offerings."

His company, Gairloch Developments, has partnered with Centerstone Urban Developments Inc. to build a 10-storey mid-rise condo property at 383 Sorauren Ave., with occupancy slated for 2016.

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The builders have already sold 80 per cent of the warehouse-style building comprising 142 single- and double-storey suites on the prime spot just south of Dundas Street.

"To have Sorauren Park right down the street from the front door of your condo is a big attribute, and on top of that, you have High Park only a couple major city blocks away," says Mr. Gairdner.

Residents will also benefit from a farmers' market and new town square at Sorauren Park, as well as restaurants, shops, galleries and transit along Roncesvalles. A few minutes north are TTC and GO stations on Bloor Street.

The building will also provide a guest suite, fitness room and a terrace with areas to cook, dine and lounge under heaters, in cool weather, or by a gas fireplace.

"People are very cost conscious and don't want large common element fees every month," adds Mr. Gairdner, who estimates monthly fees will be 50 cents a square feet. "So we tried to keep it basic and useful."

Nearly as important as the locale is the project's modern, red brick look by architect Peter Clewes of architectsAlliance.

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"The majority of work he's done in the city are those large towers; so a lot of people keen on architecture are interested to see how he would interpret the design of a mid-rise," says Mr. Gairdner.

"Instead of having a full glass condo … it's like a modern interpretation of some of the more traditional masonry buildings in the neighbourhood."

Outdoor space will be standard in most units, which will range from studios to three-bedroom plus den suites, including two-storey penthouses and townhouses facing Sorauren Avenue.

"We have slightly more floor plans than you'd find in a tower because of the unique shape of the site and the step backs as you move up the building," says Mr. Gairdner.

"The average unit size is 750 square feet, which is quite large. For a downtown project, you might have an average unit size of 600 square feet."

Designer Johnson Chou will give interiors an open, modern feel with walls of windows, minimum nine-foot ceilings, hardwood floors, Corian counters and European stainless steel appliances.

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A locker or parking spot will cost $3,500 and $37,500, respectively.

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