We have emphasized before that with so many launches happening in such a small amount of time, it is very difficult to focus on which projects have big potential for investments.  One of our top picks today is Tableau Condominiums by Urban Capital (their T.O. repoirtoire includes Boutique, River City and Nicholas – all top notch projects) located in the heart of the Entertainment district at Richmond & Peter.  We are very very excited about this project and think it is one of the top investor picks for the end of 2010.

The building, located at 117 Peter Street will preserve and build around the existing warehouse will be 36 storeys and will be mixed use including 415 residential suites, 25,000 square feet of office space and retail space on the ground level.  A little bit of everything.

OTHER NEW DEVELOPMENTS

It is extremely important to compare any new development with other options.  Tableau is located in between the popular King West and Queen West areas, and as such we have a plethora of developments to compare it against.  In terms of price and deposit structure, Tableau compares very favourably to developments such as: The Mercer, Studio, Bisha (Note, Bisha is offering a very different product that is geared to the luxury market), Festival Tower and 12 Degrees.  Most of the developments are selling for at least $600 per square foot ($600 psf is the new $450 psf…).  As you can see from the table below, not only is Tableau one of the latest project to finish, but it is also one of the cheapest in the neighbourhood.   Can you imagine the neighbourhood price for Tableau in 2014?  (PS: Read our take on STUDIO vs. Tableau here)

COMPARISON TO RESALE MARKET

While it is important to compare to the other new developments, it is perhaps even more vital to compare to the resale market.  That gives you a much better indication of how well it is priced compared to todays market to ensure that you are paying TODAY'S Prices and not TOMORROW'S (we've been extremely critical of the Mississauga Condo market for selling at tomorrow's prices making it a bad option for savvy investors).  Looking at the current resale also gives us a great insight into the types of appreciation rates that the area gets.  For strong investor projects we try and hit the 10% appreciation rates (as seen in King West and Yorkville among a few other areas).  While there are a number of buildings we can compare Tableau to, we tried to choose some of the newer projects that can compare in terms of finishes.  We also included 36 Blue Jays

The numbers in the resale show that the project at Tableau is a) Priced very well compared to todays market, and b) in a high appreciation, high demand area.

RENTAL MARKET

The savvy investor will also look at the Rental market in order to keep all options open.  The rental numbers given below are an approximation based on the 4 condos above (Pheobe, SoHo, Boutique and Icon) and are just to give you an idea of where the rental market is.

Overall here is why we are very excited to offer Tableau as our top pick for investments:

a) PRICE - at $550 per square foot it makes it the best priced development in the area.  At this point in time, I have not seen the quality of the finishes – however, with Cecconi Simone working on the project, I have very high hopes.  At $550 per square foot you are very competitive against current market conditions AND pre-construction developments.

b) DEPOSIT STRUCTURE – 15% for the majority of the project is almost unheard of.  Most projects (with the exception of a few) are asking for 20% down in the first 6-12 months. This allows you to leverage less money and is very important for any investor.

c) VIP ACCESS – You will be among the first people exposed to this project meaning you get to purchase at entry level pricing.

d) 4 YEAR OCCUPANCY – The development will be closing in the fall of 2014, meaning you are purchasing a great condo at TODAY's PRICES for a development closing in FOUR YEARS FROM NOW in a very high appreciation area (10-12% in the last 5-10 years).

e) APPRECIATION RATES – Certain pockets in the city have seen appreciation of over 10%, and the King West leads the charge for those areas.  You are buying in an amazing location.

f) DEVELOPER & DESIGNERS – Urban Capital are not new to the Toronto scene.  They have had a number of very successful projects, including Boutique, Nicholas and River City (watch out for River City Phase 2).  Cecconi Simone are doing the interiors and have an excellent resume of projects that they have worked on recently and a few of my personal favourites (DNA3, Chaz on Charles). 

ATTN: VIP WORKSHEETS ARE DUE BY WEDNESDAY OCTOBER 20th BY 5pm.  IF YOU ARE INTERESTED PLEASE DOWNLOAD THE VIP WORKSHEET HERE AND FOLLOW THE INSTRUCTIONS.

If you are interested in investing in this hot project and would like more information including detailed price list and floorplans, contact us using the form below and a member of our team will contact you ASAP. 

ROY BHANDARI  |  Direct #: 416-835-9436

Interested in other great developments in Toronto? Click Here for our list of major developments currently selling to VIP agents.  Other HOT Developments: Backstage | Studio | The Mercer | Chaz on Charles | Bisha