By Lucas | on August 2, 2013 |
Recently, we had the opportunity to chat with Peter Politis of Greybrook Realty Partners, whom we interviewed earlier this year about Greybrook’s role in the new home building industry. This time, we discussed a very high profile Toronto project that Greybrook is working on with Empire Communities. For now, the project is going by the name “140 Yorkville.”
About 140 Yorkville
140 Yorkville will rise a total of 35 storeys. The bottom two storeys are designated for retail space. There will be a total of 348 residential units. The average size of the units is estimated to be about 767 square feet. There will also be 247 parking spaces, presumably in an underground garage. According to Politis, Empire Communities is aiming for completion by the end of 2017.
Politis also mentioned that Empire Communities will be opening a presentation centre for 140 Yorkville in Dubai. It’s obvious that 140 Yorkville will be one of Toronto’s most luxurious condos in the near future if Empire is confident enough to open a tangible presentation centre in one of the richest cities in the world.
A genuine Yorkville address
Politis is calling 140 Yorkville “a genuine Yorkville address,” and stated quite confidently that “it’s one of the best corners of real estate in the country.” You know what? It’s hard to argue that.
Near the corner of Avenue Rd. and Yorkville Ave., 140 Yorkville is at the heart of Toronto’s most luxurious district. High-end shopping options, art galleries, and the finest dining can be found along the streets of Yorkville.
Politis explained that 140 Yorkville will be connected to Hazelton Lanes mall, which is being redeveloped by First Capital. Apparently, there are talks of two or three very high-end retailers coming to occupy Hazelton Lanes once the redevelopment is complete. As Politis put it, “the whole block is going to change.”
Greybrook’s role at 140 Yorkville
Greybrook helps put up a chunk of the money needed to market the condo development, as well as purchase the land. The investors Greybrook finds have the option to invest any amount of money they choose, with a minimum of $25,000. Greybrook basically offers a way for people to invest in the condo market without actually having to own. Greybrook has worked with many big name developers, including Cityzen, Fernbrook, and Tribute Communities.
We are really looking forward to Empire Communities bringing 140 Yorkville to market. The design is great and the location is perfect. Stay tuned, we’ll be keeping a close eye on this very exciting development!