Located at 45 Charles St. East in Toronto, it’s no surprise that in a difficult market, Chaz Yorkville is experiencing great success. Construction is under way and though residents will start moving in early 2015, the province has approved additional height of eight new floors, expanding the building to 47 storeys and over 500 units.
“We’ve had several approvals so the building has been growing since construction started,” explains the project’s developer Jason H. F. Fane.
“First of all it’s an excellent project,’ says Fane, noting that the project is in line with the provincial imperative to intensify. “It’s provincial policy to encourage greater density downtown, particularly in areas near subway stations.”
The Chaz project has many features Toronto needs: excellent transit proximity, high green standards and build quality, and unique architecture that adds variety and interest to Toronto’s premier intersection.
Steps from Yonge and Bloor, residents don’t need to own a car and can avail themselves of on-site car sharing instead. Considering our roads are already near critical capacity, projects that encourage more biking and walking get extra points.
The city also likes distinctive architecture. Designed by Sol Wassermuhl from Page+Steel, the project is actually an octagon, making eight out of the twelve units per floor corner units.
The contractor is PCL, acknowledged not only as a high-quality builder, but as a punctual one who adheres tightly to delivery schedules.
As a LEED Silver building, energy costs are lower, and resident’s health and comfort are carefully planned for.
Though the building is 80 percent sold already, there are a few units of all sizes still available. Most notable are the new units in the penthouse and units in the podium.
Podium units are less expensive than others in the building, ranging in size from 378 square feet to 1,253 square feet. At around $650 per square foot, Fane says, “People who might not have thought they could afford a new two- or three-bedroom apartment in Yorkville will discover that they can.”
Prices in the podium range from $329,900 to $819,900, which by downtown Toronto standards is now what we call “affordable.” Sorry.
Penthouse units are larger, and naturally more luxurious. According to Fane, plans for them are flexible, as premium buyers often join units together, but the largest is currently around $2.5 million.
From now until Valentine’s Day (Feb. 14) Chaz is offering a number of incentives. First-time homebuyers can buy for 5 percent down, and others can purchase for 10 percent down.
If you don’t need a break on the down payment, you may be eligible for up to $35,000 in upgrades to your unit.
Those who plan to rent their unit out after taking possession may also apply for a 2-year lease back option that guarantees owners rental income for 24 months after the unit is ready for occupancy.
Visit the showroom at 101 Yorkville Ave. (sales office)
Amenities and features
• Fees estimated $0.50 per square foot
• Rogers ultra high-speed fibre optic Internet connection throughout building
• Connected to Bazinga cloud-based condo management system
• Computer game competition room
• Gym and yoga/pilates studio
• Change rooms with steam rooms
• Pet spa
• Two theatres with 4K high-definition screens
• Video game room designed for group gaming
• Business room
• 2 guest suites(1 bedroom and 2 bedroom) can be broken up to make 3 suites
• Every unit has a balcony
• 24-hour concierge
• Info: www.chazyorkville.com