Toronto’s real estate market is touching new heights of growth in terms of property sales figures and price increases over the last few months. The market has recovered from several interim hurdles like the mortgage stress test and concerns related to affordability of homes. As a result, it is one of the best-performing housing markets in the nation at the moment and this is being aided by high demand for properties in the entire region.
Other factors like steady population growth, commercial, business and employment growth and of course, the steady influx of people from other cities and countries in search of better professional prospects. Lanterra Developments is one of the premier developers in Toronto and has recently opened one of its key projects for sales in the city. This project is slated to shape the entire skyline of the city’s Distillery District.
Lanterra No. 31 condos to be a major boost for Toronto housing market
The Toronto housing market will receive a massive boost thanks to the implementation of the No. 31 condos project by Lanterra Developments. The company has already launched official sales for this key downtown Toronto venture which goes up to 41 storeys at the Distillery District. The tower will have 428 housing units in all. Sizes will range between 350 and 1,079 sq. ft. on an average. There will be studio apartments available and configurations will go up to 3 bedroom suites as well. Prices are expected to start from the higher end of $400,000 and upwards.
The project design and aesthetics were largely inspired by the fusion of several special and appealing attributes in the Distillery District as per senior company officials. The vision of the company is to build a residential community that will boast of the elegance possessed in any premier sidewalk in Europe coupled with a vibrant feel that is found in the streets of places like Chelsea in New York. Lanterra is already entering two decades of its journey as a real estate developer, having built major projects throughout the Greater Toronto Area (GTA) including 15,000 condo units and counting. The company specializes in building residential communities that are tailored to specific buyer types. No. 31 will be a major addition to the historic Distillery District neighborhood which is a cultural hotspot as well, creating the next big destination for the city’s elite as per the company’s official statements.
Key attributes of No. 31 Condos
The project will be situated at 31, Parliament Street and will offer good connectivity to several attractions in downtown Toronto including the SmartTrack, Sugar Beach and multiple TTC stations in tandem with the Gardiner Expressway which runs beside it. The project will offer easy access to some of the best hotspots in the city including art and theater from local vendors in the Distillery District along with leisure activities on the waterfront and key transit points.
The project is being worked upon by Arquitectonica from Miami and the IBI Group’s local architect along with Studio Munge’s Alessandro Munge who has personally designed its interiors. The project will comprise of a glass tower spanning 41 storeys with special brick framing for blending in the vibe of the Distillery District in the structural design itself. There will be inspiration drawn from the quaint shops in the area along with the cobblestoned pathways and overall beauty.
Here are some of the key attributes of the project for buyers:
- 9-foot ceilings in all main living zones and multiple options for interior design.
- Black stainless steel appliance pack can be availed by buyers.
- Laminate flooring for living rooms, den, dining rooms, halls and foyers.
- Ceramic/porcelain flooring for the bathroom.
- Contemporary kitchen designs and mixture of organic hues with darker, earthy tones for creating the stylish look akin to the Distillery District itself.
- Shared facilities will include a top-notch fitness centre cum yoga studio and unisex dry sauna.
- There will be an indoor pool with windows (floor to ceiling) that look upon Lake Ontario and the Distillery District.
- There will also be a multipurpose party room that comes with its own kitchen for catering to guests.
- Sunken fire pit and reflective pavilion are two other key amenities offered at this project.
- Playing area for children will be provided along with 24-hour concierge services.
- A pet spa and relief zone will also be available for buyers.
Once completed, this project will be a vital addition to Toronto’s skyline and the Distillery District in particular.