Lakehouse Beach Residences
Location: The Beaches
Builder/developer: Reserve Properties
Size: About 550 to 1,880 square feet
Price: $349,000 to $1.4-million
Sales centre: 2000 Queen St. E., east of Woodbine Avenue. Open Saturday to Thursday from noon to 6 p.m.; closed Friday.
Contact: Phone (416) 546-3294 or visit www.lakehousecondo.com
Boutique condominium residences are such a sought-after commodity in the established Beaches community, Reserve Properties sold 90 per cent of its church-conversion project in the first month and the rest shortly after that earlier this year.
People who didn't have a chance to buy a unit at Bellefair before they sold out, were put on a list to be the first to purchase at the builder's latest mid-rise development nearby, called Lakehouse Beach Residences.
"It's about 65-per-cent sold out and we haven't had our grand opening," vice-president Shane Fenton said prior to the official launch last month.
"We also marketed, sold and developed the Bellefair project two blocks away, so based on that we got a good handle and understanding of where the market is, what they're looking for, price points and demand.
"What we've realized is that there's a significant demand in the Beach with a very limited supply of new condo product."
This contemporary infill project will comprise just 28 units in a six-storey structure at the corner of Kenilworth Avenue and Queen Street East.
"We think it's a great neighbourhood and a great place to be," Mr. Fenton says. "There's been such a significant demand from the local community of people who live in the Beach, love the Beach and want to stay there, but want an alternative to single-family living."
The area is well known for its abundance of parks, beaches and sports facilities along the waterfront, not to mention popular restaurants, cafés and shops on Queen Street.
"There's so much out there, so the goal is to encourage buyers to really enjoy the neighbourhood and everything it has to offer rather than be holed up within the building," says Mr. Fenton, who excluded recreation facilities from the site for this reason, except for a pet spa.
But there will be retail shops facing Queen Street East at the base of the building, which Raw Design devised with glass, brick and Ipe wood in keeping with the character of the immediate surroundings.
The top floors will be set back from the streets, allowing for terraces and wraparound balconies with more than 1,000 square feet of space.
"You've got a number of units that have very expansive, large terraces like that - almost equivalent to the size of the units - which is a significant rarity in the city of Toronto," Mr. Fenton says.
"As nice as it is to go to the park a block away, it's still nice to be able to have that as part of your own living space."
Walls of floor-to-ceiling windows will bring the outdoors indoors where there suites will have 550 to 1,880 square feet of space - which is especially appealing to locals downsizing from large homes - complete with open principal rooms and one or two bedrooms.
II by IV Design Associates will dress the interiors with high-end style, from deep soaker bathtubs and frameless glass showers to Scavolini kitchen cabinetry and European stainless steel appliances by AEG and Liebherr.
Monthly fees will be 52 cents a square foot.
Parking will be $35,000 and lockers $3,000.
Occupancy is scheduled for November, 2013.Report Typo/Error
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