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VIP Event: Chaz on Charles – Yorkville’s Newest Condo Development

Amit & Roy were recently invited to a special VIP Event at the new Development "Chaz on Charles" by Edenshaw Homes located in the highly sought after "Yorkville" neighbourhood in Toronto, by Yonge & Bloor.

"Chaz is good, Chaz is fun" was the general message from the event – with a lot of emphasis placed on the consumer "having a good time while living at Chaz".  Very cool new amenities including a 3D Theatre, A Games Room (With gaming chairs, steering wheels etc.) and the "Chaz Club", a two-storey place for residences to hang out and grab a drink with your friends.

The development offers some great standard features, and is located in a prime location.  Just a couple of blocks from the infamous "One Bloor" development and offers good competition to some of the other new developments in the area such as "Five Condos" and "Nicholas Residences".  When purchasing a new development, it is important to ensure that you are receiving good value when compared to other developments, so here is a snapshot of other developments in the area:

OTHER NEW DEVELOPMENTS

Development Address Price Per Square Foot Occupancy Parking Deposit Structure
Chaz on Charles 45 Charles St. E Approx $600-$650 June 2013 $45,000 20% + 5%
One Bloor 1 Bloor Approx $800 Fall 2014 $47,500 20% + 5%
FIVE Condos 5 St. Joseph St. Approx $600-$650 November 2014 $45,000 20% + 5%
Nicholas Residences 75 St. Nicholas St. Approx $660-$750 May 2013 $45,000 20% + 5%

RESALE MARKET

It is also important to understand the current re-sale trends of nearby and similar buildings.  While today's buildings may not offer the same quality of finishes and amenities as the new building, it is important to understand today's market and to make sure that you are not paying over the odds for the new construction.  The resale market can also give us amazing insight as to how the property has appreciated in those areas.  By studying the past trends, we have something that will allow us to predict where our investments will end up in 3-4 years.  On average the appreciation rate in the GTA is 4.5%, and if a property has an appreciation rate of 7.2% it will double every 10 years.  That makes these apprecation rates even more impressive.

Address Approx Price/Foot Approx Appreciation Rate
33 Charles – "Casa"
Approx $575-$650 9-12% per year
100 Hayden Approx $550 9-11% per year (last 5 years)

CURRENT RENTAL MARKET ON CHARLES

When investing, it is extremely important to understand the rental market.  While many investors may look to sell the condo as soon as possible, there may be various reasons that arise where that is not possible.  The savvy investor will keep all options open, so it is important to know the rental figures that you can expect.  The figures below are taken from other buildings on Charles.  If you are interested in more detailed analysis of the rental market in this area, don't hesitate in contacting us.

TYPE RENT
Studio $1250-$1350 per month
1 Bedroom $1400-$1500 per month.  Some 1 bedrooms are leasing as high as $1800
1+1 Bedroom $1600-$1800 per month
2 Bedrooms $2000-$3000 per month

Overall, I believe that Chaz on Charles is a terrific development and offers some very good investment opportunities.  VIP buyers (contact us if you are interested) will have their assignment fee dropped from $5,000 to just $500 making it a very interesting project for investors.  Deposit structure is in line with other developments in the area, but more than some of the other developments (DNA3 at King West, Trinity Lofts in the Distillery District who are 15% + 5% on occupancy).  Yorkville has been growing at approx 10% per year (based on nearby resale condos), and with the new wave of buildings coming up in that area there is no reason that will not continue.  With that in mind, the potential for growth in value of these developments is huge and there is great potential for money to be made with these developments.

Here are few key points as to why we believe Chaz to be a great investment opportunity:

a) Location – Located in the heart of Toronto nearby high end stores such as Holt Renfrew.

b) Value and Appreciation Rate – As already discussed, I believe that Chaz offers great value when compared to the other developments.  On top of that, we are in a very high appreciation area and you WILL make money when investing here.

c) Assignment clause – these clauses allow you to leverage your money like no other investment.  The assignment fee is just $500 when you purchase through a VIP broker such as myself.

d) Amenities & Finishes – Chaz offers terrific amenities with some very forward thinking ideas that are designed to make your life at Chaz "fun".  The finishes in the units are of a very high standard with high quality throughout.

If you are interested in getting more information including floorplans and more detailed pricing, don't hesitate to contact us using the form below.

[contact-form 1 "Contact form 1"]


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

About Roy Bhandari

Roy is the younger of the brothers and has a sound knowledge of the marketplace. He excels in marketing, design, and advertising having graduated with an Honour's Degree in Marketing Management. Marketing is an important aspect of any business, but effective marketing drives consumers and sets you apart from everything else. It is imperative that you have someone that understands the theories and techniques so you can take advantage of the competitive edge.

10 comments

  1. Hey Amit and Roy!
    Great article on the Chaz.  It was good seeing you at the VIP event!
    After considering, the other condos both resale and new development.  Do you think Chaz is a good investment?
    Do you think an investor can expect 9%-12% per year between now and the time Chaz is built?
    Let me know your thoughts!

  2. Hey Marlon – thanks for your comment and it was great seeing you at the event.

    I think that Chaz offers great value, and it along with Five both look like excellent investments, I highly recommend both projects.  Chaz has the benefit of the cheap assignment fee, and Five has the benefit of occupancy a year later (2014 instead of 2013) which allows your money to work for you for an additional year.

    Based on the history of the market in the Yonge/Bloor area, I believe we can expect significant growth in value for these condos.  Barring any economic downfall, which nobody can predict, I do believe that we should see 9-12% in the condos at Chaz.  Real Estate appreciation rates have been extremely predictable in the last 10 years, so it's just a matter of making sure which ever development you choose to invest in checks all the boxes to maximize your return.  I believe the current prices are a little on the higher side (I would have liked it around $600/foot to be more in line with todays resale), but at the same time they are offering features and finishes which do not exist in the resale market today.

  3. Hi There,
    Can you please let me know whether   it is advisable to buy a cond in 10 York. The sq feet is about $600.00.
    I heard to day that condo market is not doing well and the developers and thinking about putting up  new condos.
    Thanks

  4. Hi there, Ravi.

    I shall respond to you via e-mail.

    -Amit

  5. Hello Roy,
    I saw your comments on a thread on this link http://www.buzzbuzzhome.com/chat/general-chit-chat/70/condos-as-investments-good-or-bad-idea-and-how-to-do-it regarding condi investments and I am very impressed with your answers.
    I would just like to ask if you know a few places or resources that I could look at to know which good locations on pre-construction property that are good for investment/purchases?
    Is it true that I need to put a down of 40% or lesser than that would suffice?
    Please advise.
    Thank you!
    Lor

  6. Hi Lor,

    You should visit our sister website purely dedicated to pre-construction condominiums in Toronto: talkcondo.com – Roy has been blogging on there for the last 3-years or so.

    You can reach Roy via e-mail: roy@talkcondo.com

    -Amit

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