College Park Phase III: Aura Update


The 75 storey tower on the north west corner of Yonge Street and Gerrard Street is going up slowly. Construction is now at the 3-4 commercial level depending on which side you view. Residential levels should be starting soon. A few months ago the developer Canderel Stoneridge sent out a newsletter advising owners that unit assignments should be coming up around July once the 5th residential floor is completed. With that in mind and the size of the project it seems there is a 4-6 week delay already. With price speculation around $850-900 per square foot already. The assignment market for this building will be hot.

Over the past week or so, color selection letters were also mailed to the upper tower suites. The color selection center is located at the DNA II condos on King Street West, near Brant Street.

Recently Canderel Stoneridge also purchase a lot 460 Yonge Street north of College Street on the west south corner. The site was purchased for $22 million. This confirms a prior rumor that another Canderel project was coming to the area. Another recent unconfirmed rumor is that an application has been made to increase Aura by 3 stories. The new floors would be in the 33-35 floor range. Again nothing official has yet been released, but with only 2 sub penthouses left and the upper floor for $17.5 million, this is welcome news for many buyers who missed out. Interesting will be to see what the price per square foot will be on the new suites, if they get approved by the City of Toronto.

For more information send me an email at wpianka@tmacc.com.

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About wojciechpianka

After a few years of studying English and History at the University of Toronto, I decided to transfer to Ryerson University and pursue a Bachelor of Commerce degree. While studying, I worked various jobs where I acquired many skills. Starting as a teller at Scotiabank, I moved on to being a manager of a restaurant, admin staff at a medical clinic, a sales agent for INGDirect and a manager at One King West Hotel. While all these jobs challenged me, I never felt my potential being utilized. Finally in 2008, I completed the Ontario Mortgage Agent Course and signed up with The Mortgage Alliance Company of Canada. This was a great decision, as it allowed me to use the skills I learned working to help people achieve their real estate and financial goals. My passion for real estate and numbers has lead me to becoming a mortgage agent. Growing up in New York City, I always had a fascination of historic buildings and skyscrapers. At 21, I bought my 1st property and have been investing in real estate ever since. I firmly believe thru steady, safe and conservative investing a one can obtain long term financial wealth. One day, I hope to develop the same buildings I help clients purchase.
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