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Outlook 2020 – Jared Menkes, Executive Vice-President, Menkes High Rise

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Outlook 2020 – Jared Menkes, Executive Vice-President, Menkes High Rise

Part of our series of Outlook 2020 Q&As with building industry executives

Condo Life: What is the outlook for the new home industry in 2020?

Menkes: This year will continue to be a year of low supply and high demand, which will keep housing prices high, especially in prime locations. Overall, the 905 has experienced the largest growth, and will continue to grow, however the largest demand continues to be for housing along mass transit. Vaughan, in particular, will continue to be a very desirable location.

Housing supply will continue to fall short of meeting demand. RBC reported that Toronto CMA needs 22,000 new rental apartments and rented condominium units per year to satisfy demand between 2019 and 2023.

RBC also says that even if we anticipate that 70 per cent of all new condos are rented, and we have 4,000 new purpose-built rental apartments in the GTA every year, we still wouldn’t hit that 22,000-unit mark.

Jared Menkes
Jared Menkes, Executive Vice-President, Menkes High Rise

CL: And for Menkes?

Menkes: From a highrise perspective, sales for our projects in 2019 were strong and continue to demonstrate that people desire walkable communities in proximity to transit. Sugar Wharf on the Toronto waterfront was named the bestselling condo project in Canada for 2018, then we had a top-selling mixed-density project in Vaughan with Mobilio. With that success, we’ve moved to an even bigger four-tower project nearby, which will launch this year. Our prime locations, combined with the fact the city continues to experience a housing shortage, leads me to believe that we’ll experience strong sales in 2020.

CL: What is your company doing to address the issues facing the homebuilding industry – namely, affordability and new home supply?

Menkes: With many families priced out of the downtown core, they’re looking for more affordable options in the 905. At Mobilio, one of our most recent projects in Vaughan Metropolitan Centre (VMC), we’re offering a mix of housing types on one site, so we’re catering to every type of family and lifestyle. Since the community is close to Vaughan’s new subway station and all that VMC will offer over the next decade – including offices, shops and restaurants – we’re also fulfilling the desire to live in an urban setting at a more affordable price than downtown.

As the largest employment centre in York Region, Vaughan is becoming an increasingly desirable option for both young professionals and families. Festival, our latest highrise project in VMC, will be a four-tower community which will fulfill the area’s fundamental need for more density.

Clearly, family-friendly condos are an increasingly important segment in the market. Menkes will continue to deliver projects that offer familyfriendly amenities such as playrooms, entertaining spaces and co-work areas.

Townhomes, such as the ones we launched at Mobilio in Vaughan, are also offering families a more affordable option in an urban setting. We will continue to offer more townhomes with our Lake & Town project that will be coming to South Etobicoke this year.

CL: What more could the industry do to address these issues?

Menkes: We need a healthier, more balanced market. People don’t have choices right now. The City and Province need to take a look at getting more supply on the market, and developers simply need to continue to build more product. Regardless of whether new housing is “affordable,” more supply will eventually lead to lesser discrepancy between supply and demand, and therefore reduce costs in the long run.

CL: What should prospective new-home buyers know about your company for 2020?

Menkes: Our reputation speaks for itself, but if buyers want to know the quality of a Menkes building, they can tour one of our buildings themselves. We are very proud of all our projects and believe the best way for buyers to educate themselves on builders is to actually see their work.

CL: Why should prospective new-home buyers consider buying from your company in 2020?

Menkes: There has increasingly been a flight to quality by prospective homeowners, opting for brands they know and trust, and we are fortunate to be one of those brands. We have reputation as one of Toronto’s top builders because not only do we take pride in the quality of our work, but we continue to deliver. We take it very seriously that people are investing their life savings with us.

Also, it’s important for builders to be innovative and to shift as homeowner needs and trends change. We have done this in the past – as we saw the trend to more families living in highrise buildings – and we will continue to do so.

We also manage our projects, which puts us at an advantage because we have the opportunity to get daily feedback on the management and operations of our buildings, and we strive to continuously improve.

Special Report: Outlook 2020

Outlook 2020 – 5 things you need to know about real estate this year

Outlook 2020 – Angela Marotta, Director of Sales & Marketing, Solmar Development Corp.

Outlook 2020 – Anson Kwok, Vice-President Sales & Marketing, Pinnacle International

Outlook 2020 – Samson Fung, Vice-President Marketing, Tridel

Outlook 2020 – Samson Fung, Vice-President Marketing, Tridel

Outlook 2020 – Nick Carnicelli, President, Carriage Gate Homes

Outlook 2020 – Fan Yang, Deputy General Manager, Aoyuan

Outlook 2020 – Jordan DeBrincat, Director of Operations, Altree Developments

 

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Local Focus: Oshawa & Whitby

Is Oshawa & Whitby the next hot new destination?

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Is Oshawa & Whitby the next hot new destination?

As prospective homebuyers have looked outside the Toronto core in search of more affordable lowrise homes in recent years, most of them have headed to Hamilton, Burlington, Milton and other points west.

This migration may soon change.

“The west end of the GTA has a greater diversity of communities that are attracting a diverse range of buyers,” Christopher Alexander, executive vice-president, ReMax of Ontario-Atlantic Canada, told HOMES Magazine earlier this year. “In the past 10 years, there has been significant focus on the growth and development of these regions, whereas historically, Durham has not traditionally been viewed in this same regard. With the boom in areas towards the east, like Prince Edward County, and the affordability leveling out, we will likely see the tide begin to turn.”

So, there you go, homebuyers – keep an eye on Whitby, Oshawa and other parts of Durham Region.

Economic diversity

And don’t let any potential uncertainly over General Motors Canada’s announcement late last year that it would close its Oshawa assembly plant. Oshawa, and other points in Durham, are about a lot more than one company.

“(The) employment sector in Oshawa has been shifting for some time, and Oshawa has healthily diversified to add technology, educational institutions, healthcare, administration and many professionals to its offerings of great jobs and companies in the market,” says Christian Huggett, vice-president, development, at Podium Developments. The company has a number of townhome developments in the city.

“(The GM news) not altered our plans,” he says. “We continue to believe that the outlook is bright for home sales in North Oshawa, buoyed by its proximity and relationship to schools, the 407 network, the significant growth occurring and planned for North Oshawa.”

ALSO READ: What we can learn from the looming GM closure in Oshawa

Location just east of Toronto along Hwy. 401 is among the reasons Whitby and Oshawa draw attention. With Whitby just 59 kms from Toronto and Oshawa 62, commuting is a real option – particularly with recent GO Transit improvements and the expansion of Hwy. 407.

Durham Region Transit connects with the other cities in the region, including Pickering, Ajax, Clarington, Brock and Uxbridge. The 401 runs through the south of region, Hwy. 7 runs across its northern edge and the Hwy. 407 extension to Hwys. 35 and 115 across the top of Durham Region.

Translation? Getting to, from and around Durham is getting increasingly easy, which makes living here and working elsewhere a real possibility.

Expanding attractions

As with any growing municipality, Whitby and Oshawa also offer expanding amenity and retail options. The Oshawa Centre, for example, is the largest shopping complex in Durham and is home to more than 230 outlets. And in downtown Oshawa, of course, there’s a variety of unique shops and restaurants.

In Whitby, Pearson Lane is a historical development that houses boutiques, cafes and services.

Nature is also front and centre, as Oshawa is home to wildlife preserves such as the Pumphouse Marsh, Second Marsh and McLaughlin Bay Wildlife Reserve. Oshawa Botanical Gardens boasts North America’s largest contemporary peony collection.

In Whitby, more than 100 parks more than 60 kilometres of trails, including the Bio-Diversity Trail, the Cullen Central Park Trails, Otter Creek Trail and the Whitby Shores Waterfront Trail, await residents. The 670-acre Lynde Shores Conservation area is known for its wildlife and provides habitat for nesting birds.

Location, location, location

  • Located east of Toronto in York Region, Durham forms the east end of the GTA. Whitby 59 km from Toronto, Oshawa 62 km. Durham population 645,862; Oshawa 159,458; Whitby 128,377.

Key landmarks

  • Lynde Shores Conservation Area
  • Oshawa Botanical Gardens
  • Oshawa Centre
  • Tribute Communities Centre

Select housing developments

OSHAWA

Eastmore Village by Delpark Homes

Ironwood by Podium Developments

O North Urban Towns by Greycrest Homes

Symphony Towns by Marlin Spring

Winchester Estates by Menkes Developments

WHITBY

Park Vista by Paradise Developments

Park Vista by Fieldgate Homes

Station No. 3 by Brookfield Residential

The Hamptons at Country Lane by Heathwood Homes


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Builder Profile: Menkes

Condo living has it all with Menkes communities

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Condo living has it all with Menkes communities

Gone are the days when the only gold standard for homeownership was the house in the suburbs with the white picket fence. Today many young families are setting their sights on highrise urban living, where their kids have exposure to arts, culture, and more! They can experience all that city life has to offer, and at the same time have plenty of room to play.

Enter Menkes, one of the first developers to introduce a children’s playroom as an amenity space, when it launched The Eglinton Condominium in 2014. Today – after successfully introducing both indoor and outdoor children’s spaces at its Harbour Plaza community in 2018 — the developer has even grander plans for condo living that will cater to children of all ages.

While condo living once posed challenges to residents with large families or young children, the company’s latest condo projects will elevate your ability to entertain.

Hobby room, Sugar Wharf Residences
Hobby room, Sugar Wharf Residences
Theatre, Sugar Wharf Residences
Theatre, Sugar Wharf Residences

Sugar Wharf Condominiums, part of an 11.5-acre community on Toronto’s waterfront, will offer future residents with kids a list of amenities that rivals any children’s facility, and completely eliminates the hassle of bundling them up in cold weather, in search of local indoor entertainment. Residents will have access to a hobby studio, an arts and crafts room, a music room, virtual reality space, and children’s playroom. There will also be plenty of storage close to your suite to store gear and sporting equipment.

Mobilio Community
Mobilio Community

Mobilio, Menkes’ upcoming community in Vaughan Metropolitan Centre, which will include a combination of condos and townhomes, is also being developed with families in mind.

“We have really considered every member of your family right down to your pets,” says Jared Menkes, executive vice-president, highrise. “Mobilio will include a convenient petwashing station. I am also very excited about the park aspect of this project. We will have the linear park connecting all the projects together on this block and on future blocks, that provide trails and exciting ways for families to stay active.”

Indoor playroom, Mobilio
Indoor playroom, Mobilio

Mobilio will be anchored by an almost 40,000-sq.-ft. linear park, part of Vaughan’s Black Creek Renewal project, which upon completion, will establish a series of promenades, plazas and parks, spanning more than 30 acres. The community also includes attractive gathering places, walking paths and family-friendly play areas. In cold weather, families can take advantage of Mobilio’s equally family-friendly indoor playroom.

When it comes to amenities, Menkes has carefully considered everything a family would get out of living in a single-family home, and incorporates these aspects into its condos. For those who enjoy entertaining, there are sophisticated party rooms with kitchens and bar areas, and landscaped terraces equipped with barbecues.

You enjoy a quiet night in? Sugar Wharf Condos will include a state-of-the-art theatre and games lounge. And if you enjoy staying active, it will have a fitness centre with separate weight, virtual and yoga studios.

There is no doubt that with Toronto experiencing a housing shortage, and many families priced out of the single-family housing market in urban centres, condo living will continue to be the way of the future. Whether you’re looking to start your family, grow your family, downsize, or retire, Menkes offers condo amenities that will cater to every family, and every lifestyle.

Menkes Developments

For further information visit the website.


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Neighbourhood Watch: South Core

South Core is lively, lakefront, prized and prestigious

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South Core is lively, lakefront, prized and prestigious

If a lively and active downtown lifestyle is what you’re after, check out Toronto’s South Core. It might also help if you work in the nearby financial district, as residency in this prestigious neighbourhood has its price.

So-called for its proximity to the downtown core but, obviously south… from the railway lands to Lake Ontario, and bounded on the west by Lower Simcoe Street and on the east by Lower Jarvis Street.

Indeed, Toronto is blessed with a prized waterfront location, which in recent years has seen billions of dollars in development, from public spaces to new residences to new commercial and retail opportunities. And the South Core is a prime example of this growth.

Looking northwest from the common terrace at Menkes' Harbour Plaza.
Looking northwest from the common terrace at Menkes’ Harbour Plaza.

Sustainable and connected

Consider, for instance, the Southcore Financial Centre (SFC), a major mixeduse, sustainable complex. Designed to exceed the expectations of today’s globally connected businesses and sophisticated urban travelers, SFC comprises two striking LEED Gold certified office towers totaling 1.4 million sq. ft. and The Delta Toronto – a premium four-star, 560- room, next generation hotel.

Or One York Street by Menkes Developments, a 35-floor, 800,000- sq.-ft. Class AAA building at York and Harbour targeting LEED Platinum certification.

The sustainability and connectivity of these projects typify the redevelopment underway in the South Core. Both buildings boast direct and enclosed access to the PATH to Union Station for TTC, GO Transit the UP Express and more, and beyond through Toronto’s underground network. Within easy walking distance are landmarks such as Scotiabank Arena, the Rogers Centre, Ripley’s Aquarium of Canada, world class restaurants and the city’s Entertainment and Theatre districts.

Then there’s Maple Leaf Square, a multi-use complex and public square next to Scotiabank Arena, with a newly expanded video screen for live outdoor public broadcasts of Leaf and Raptors games, and home to Real Sports Bar & Grill, one of North America’s largest sports bars.

Residential opportunities

But the South Core isn’t all about office towers and commerce, as residential opportunities are also part of the development. New condominiums have sprouted up, along with the office towers, including Harbour Plaza by Menkes Developments, located at 88 Harbour St. and 100 Harbour St. Here, along with similar connectivity to the underground PATH, residents enjoy a 30,000-sq.-ft. health club, outdoor terrace with tanning deck and other top-drawer amenities.

Also nearby, slightly to the west at Spadina, is CityPlace by Concord Adex, one of the first major condo developments in the area.

Now that the west and central portions of the waterfront are well along in development, and you can’t go any further south into the lake, condo growth is spreading east. Menkes has Sugar Wharf Condominiums at Sugar Beach, and Tridel is building Aqualuna at Bayside, at Merchants Wharf and Queens Quay East.

And then, a little further east and perhaps a few years down the road, there’s the proposal for Sidewalk Labs, the 12-acre, smart-city site at Quayside, which is planned to include a mix of housing types, public spaces and other high tech amenities.

Location, location, location

South from the railway lands to Lake Ontario, bounded on the west by Lower Simcoe Street and on the east by Lower Jarvis Street

Key landmarks

  • Harbourfront
  • Maple Leaf Square
  • Queen’s Quay Terminal
  • Redpath Sugar Refinery
  • Ripley’s Aquarium of Canada
  • Scotiabank Arena
  • Southcore Financial Centre
  • The Power Plant Art Gallery

Select condo projects

162 Queens Quay by Empire Communities

Aqualuna at Bayside by Tridel

Harbour Plaza by Menkes Developments

One Yonge Condos by Pinnacle International

Sugar Wharf by Menkes Developments

Ten York by Tridel


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Fleur

Fleur is a beacon of fashion, art and culture

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Fleur is a beacon of fashion, art and culture

Toronto’s downtown core is vibrant, diverse and lively, appealing to a variety of people and lifestyles. With the downtown population expected to double to more than 500,000 over the next 25 years, the city is poised to continue its upward trajectory as a destination for investment.

One area in particular that’s attracting both retailers and developers alike is the City’s Garden District, located just east of Yonge, from College to Queen Street. The area has really “blossomed” over the last few years, and at the heart of it you’ll find Menkes‘ Fleur Residences.

With a Walk Score of 99 and a perfect Transit Score of 100, Fleur offers residents seamless access to the city’s premier dining, shopping and cultural destinations. In a city where traffic congestion is a growing frustration, everyone wants the luxury of living close to public transit, and Fleur is set between two major subway station stations, Queen and Dundas. In fact, the building neighbours the lively Dundas Square, a magnet for musical acts, cultural events and entertainment.

Yonge & Dundas
Yonge & Dundas

Set at the epicentre of retail and style, Fleur is every shopaholic’s dream come true. The building is located just steps away from North America’s most popular mall, CF Toronto Eaton Centre, home to world-renowned retailers such as Saks Fifth Avenue and Nordstrom. The popular tourist destination underwent a massive revitalization, and over the last several years, introduced a number of new high-end international retailers to its eclectic mix. There has been an influx of foreign retailers to the area, further confirmation of the neighbourhood’s international appeal. The east side of Yonge Street is cast with a remarkable range of independent shops, boutiques, restaurants, and cafes.

Suite Interior
Suite Interior

The sleek 32-storey tower puts you within a five-minute walk to the Elgin & Winter Garden Theatres, stacked, magnificently restored treasures, and a four-minute walk to the historic Massey Hall. Toronto consistently ranks among the top three cities in the world for live theatre.

Dining Room
Dining Room

Living at Fleur will also be a foodie’s paradise, close to some of the best cuisine the city has to offer, such as popular dining spots like Canoe, Cactus Club and Hy’s Steakhouse, all within 10 minutes of the building. Also, a short 10-minute stroll south, is Toronto’s world-famous St. Lawrence Market, where you will find an overwhelming array of fresh produce, meats, seafood, and delicacies offered by countless vendors, bakers, and artisans.

CF Toronto Eaton Centre
CF Toronto Eaton Centre

To add to the long list of things to see and do in this interesting and diverse neighbourhood, Nathan Phillips Square, at the foot of Toronto’s iconic City Hall, is also minutes away. The Square is home to some of Toronto’s best farmers markets, concerts, art exhibits, holiday celebrations, and more. In winter, the reflecting pool transforms into a public skating rink.

Co-Work Lounge
Co-Work Lounge

Close to the action on Yonge Street, yet quietly sheltered, Fleur’s tower ascends from a unique three-storey glass and stone podium. Designed by the talented local firm architectsAlliance, a subtle garden theme welcomes residents as they approach the striking tower, which much like its community, stands as a symbol of fashion and art. Inspired by the surrounding Garden District, the architects designed a stone element in the tower’s base along Church Street to imitate the monolithic stone of the neighbourhood’s nearby cathedrals.

Urban Torontonians with busy lifestyles desire a home where they can relax and unwind, but also enjoy the best the city has to offer. Fleur is unique in that it’s at the centre of the excitement of the downtown core, yet nestled in the Garden District, which also retains a more peaceful vibe.

For anyone looking for all the conveniences of downtown living wrapped into one phenomenal location, Fleur Residences is your ideal home. For more information visit the Menkes Store, located at 110 Harbour St, Unit 106, call 416.591.7700 or visit the website.


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Interview: Kimberly Sears of Menkes

A chat with Kimberly Sears of Menkes Developments

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A chat with Kimberly Sears of Menkes Developments

Kimberly Sears is director of condo rentals for Menkes Developments and oversees the company’s Rental Suite Management division.

Kimberly has a background in hospitality and more than a decade of experience in real estate investment management.

Condo Life: Menkes offers condo owners rental management services… What does that entail?

Kimberly Sears: Menkes Rental Suite Management offers a full range of landlord services to owners renting out their suites. We want to be there for our purchasers, rather than just walk away after delivery, and we noticed a real demand for landlord assistance from our purchasers.

CL: What are some of the services you offer?

KS: We offer condo owners a wide range of services, including assistance with leasing, tenant screening, accounting, insurance claims, sourcing affordable repairs and HST rebates. We also help coordinate moves. We have an online 24-hour portal with access to each unit’s accounting and statements. In some circumstances, we also help mediate difficult situations between owners and tenants, helping determine each side’s responsibility to the other.

Harbour Plaza Penthouse
Harbour Plaza Penthouse

CL: What’s the benefit to using these services over dealing directly with the tenant?

KS: Owners get the benefit of a professional and knowledgeable team overseeing their investment, like a financial planner does with an investment portfolio. We also extend full privacy so owners can remain anonymous should they choose. Owners can feel more relaxed about their investment. We’re also familiar with the trades, warranties and have access to some of the best service pricing.

CL: What are some of the biggest challenges that homeowners face when renting out their suites?

KS: Inexperience, lack of resources and time. Most people already work full time, and being a landlord is a huge commitment, so this allows condo owners to be more hands-off and enjoy what little free time they have.

Finding the right tenant can also be challenging, so we provide some guidance in that area and alert our owners of possible red flags to look out for. The Residential Tenancies Act (RTA) in Ontario is very pro tenant and rather strict on the landlord’s rights and responsibilities, so you really want to ensure you choose the right tenant.

CL: What are some of the ways to avoid or overcome these challenges?

KS: Hire a professional service. You hire an accountant to do your taxes, a hairdresser to do your hair and a mechanic to fix your car, and purchasing a home is one of life’s biggest financial investments, so it’s definitely a good idea to work with a professional. Do you really want to take a risk on such a large asset?

CL: What’s something you think people often forget to consider when renting out their suite?

KS: It’s important to be aware that your tenant is not responsible for everything, so you need to assume general wear and tear to the unit. I suggest budgeting some of your rental income for maintenance and repairs – five per cent for units less than two years old, and 10 per cent for units that are three to 10 years old.

Try not to be short-sighted or stubborn when it comes to setting rental fees. Remember that vacancy can cost you more than a lower rent.

It’s also important to note that the rental rate is not established based on your monthly payments, but off the market, which changes monthly.

CL: What’s the biggest misconception about condo investors?

KS : People assume that condo investors are foreign investors, when more often than not, this isn’t the case. In our experience, 80 per cent of our management properties are owned by Ontarians. Quite often, these individuals are the average person; someone who saved up to make their first investment purchase, teachers planning a retirement or parents investing in a place for their children.

We are so grateful that people trust us with their biggest asset and we want to make it successful for them.

Visit Menkes Rental Suite Management for more information or call 416.775.7500.


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The Eglinton

Menkes welcomes homeowners to their elegant new building at The Eglinton

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Menkes welcomes homeowners to their elegant new building at The Eglinton

Nestled in the heart of Yonge and Eglinton, one of the city’s hottest, growing neighbourhoods, residents at The Eglinton are settling into their new home, Menkes‘ recently delivered midtown project.

Actual photo, January 2019
Actual photo, January 2019

The striking 34-storey glass tower designed by Giannone Petricone Associates is set on the south side of Eglinton Ave. East, at 125 Redpath Ave., just blocks from the corner of Yonge and Eglinton.

Residents are ready to live their best lives in their vibrant new community, which already boasts some of Toronto’s best entertainment venues, gourmet restaurants, boutiques, retail services, schools and corporate head offices, offering occupants the ultimate in convenience. Transit is a top priority these days and it’s easy to get to any part of the city from the building, which is close to both the Yonge TTC subway line, as well as the Eglinton Crosstown LRT, expected to open in 2021.

Children's play room
Children’s play room

Although the neighbourhood abounds with lifestyle choices, The Eglinton offers an impressive array of amenities designed by Mike Niven Interior Design, including a state-of-the-art wireless lounge with private entertainment pods featuring Wi-Fi and high definition screens, party space with dining area and gourmet catering kitchen, billiards/games room, theatre, and fully-equipped fitness studio, with separate yoga room and change room facilities.

Dining area
Dining area

The area — once commonly referred to as Yonge & Eligible due to its popularity with young single professionals — is now one of the city’s most desirable neighbourhoods, suited to any lifestyle. Recognizing the trend toward condo family living, The Eglinton was designed with families in mind. It features a colourful 400 sq. ft. dedicated kids’ room where parents and their children can escape from their suites, to explore, play and make new friends.

Outdoor terrace
Outdoor terrace

The gorgeous interior elements are matched only by the exterior landscape design, created by NAK Design Group. The Eglinton boasts a stunning landscaped outdoor terrace, featuring a sun deck, lounge seating, barbecue facilities and an outdoor dining area, all with spectacular views overlooking the homes of Forest Hill, North Toronto, or the office towers south to the Lake.

There are currently a number of elegant suites available for purchase starting from $430,990. Layouts range from 397 sq. ft. studios to a 741 sq. ft. one-bedroom plus den. Features and finishes include laminate flooring throughout, porcelain or ceramic tile floors in the bathroom and in-suite laundry area with stacked washer and dryer. Kitchens feature custom cabinetry designed by Mike Niven Interior Design, quartz countertops with ceramic or porcelain backsplash, stainless steel under-mounted sinks with single lever faucet, and brand name appliances. The master ensuite includes a custom vanity with cultured marble top and integrated sink, as well as a soaker tub.

Intersection of Yonge and Eglinton
Intersection of Yonge and Eglinton

Menkes condo rentals

There are a limited number of rentals available, including one-bedrooms starting from $2,000 per month and two-bedrooms starting from $2,500 per month. You can also take advantage of Menkes Rental Suite Management, a service dedicated to helping homeowners secure the perfect tenants for their suites and assisting with a range of services. Click here for further information and available listings on rentals, or email.

Fitness Studio
Fitness Studio

For further information, call The Menkes Store (416.591.7700), email or visit the website.


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Midtown Toronto

Midtown Toronto – where exactly is that?

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Midtown Toronto – where exactly is that?

Mention the neighbourhood Midtown Toronto, and people generally react in one of two ways. “Where exactly is that?? – the inference being that in a growing city of this size, pinpointing where the centre is, well… difficult, to say the least.

And once realizing “Midtown” is roughly defined by Bloor Street to the south, Eglinton Avenue to the north, Bayview to the east and around Dufferin Street to the west, people often think “Old Toronto.”

And in the context of real estate, that means high-priced.

Increasingly accessible

Indeed, with neighbourhoods such as Rosedale, Forest Hill, Deer Park, Summerhill and Yonge & Eglinton, Midtown is generally affluent and exclusive. Signature detached homes in any of these areas can easily run into the multi-million-dollar range.

However, new developments coming on the scene, particularly some landmark highrise condominiums, are making the area increasingly accessible to a variety of residents.

Once commonly known as “Yonge & Eligible,” due to its popularity among young single professionals, Yonge and Eglinton is quickly becoming one of Toronto’s most desirable neighbourhoods, appealing to a variety of lifestyles.

Boasting five-star restaurants, boutiques, diverse retail services, schools and corporate head offices, residents have plenty of options for work and play right out their front door.

Crosstown traffic

If a great midtown location isn’t enough, proximity to transit is also a significant appeal of this area, being right on the Yonge Street subway line. And come 2021, moving about the city will get even easier, with the expected opening of the Eglinton Crosstown LRT.

Slightly off the beaten trail, wander over to nearby Davisville Village, Mount Pleasant Village and Forest Hill Village for a taste of what that Old Toronto was like, still with small, independent shops and nice little parkettes.

Select condo projects

The Eglinton by Menkes Developments

Y&S Condos by Tribute Communities

625 Yonge St. by Edenshaw Developments

e2 Condos by RioCan Living

2128 Yonge St. by Reserve Properties

1 Eglinton East by Davpart Inc.

Line 5 South by Reserve Properties

Location, location, location

Bloor Street to the south, Eglinton Avenue to the north, Bayview Avenue to the east and around Dufferin Street to the west

Key landmarks

  • Yonge Eglinton Centre
  • Casa Loma
  • Spadina Park
  • Forest Hill Village
  • Davisville Village
  • Mount Pleasant Village

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Menkes Sugar Wharf

Menkes’ Sugar Wharf Canada’s top selling condo in 2018

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Menkes’ Sugar Wharf Canada’s top selling condo in 2018

 

Menkes Sugar Wharf

Sugar Wharf Residences by Menkes Developments Ltd., part of the upcoming mixed-use development on Toronto’s Waterfront, was the best-selling new condominium project in Canada for 2018, according to Altus Group, a leading provider of real estate data and advisory services.

In a year where buyer confidence and sales activity downshifted, Menkes sees this is a major feat.

“We are so pleased that buyers were as passionate about this project as we are,” says Jared Menkes, executive vice-president, Highrise. “The strong response to Sugar Wharf is especially meaningful coming out of 2018, where many builders experienced a shift in market conditions. Increasingly, there has been a flight to quality by prospective homeowners, opting for brands they know and trust, and we are fortunate to be one of those brands.”

Located in East Bayfront at the northeast corner of Queens Quay East and Freeland Street, the Sugar Wharf community will encompass 11.5 acres and include luxury residences, offices, restaurants and shops, Toronto’s first vertically integrated school, and will be anchored by a new two-acre park.  Once complete, Sugar Wharf will be the largest mixed-use development on the Toronto Waterfront, home to 7,500 residents and 4,000 office workers. All buildings will be connected to Toronto’s indoor PATH pedestrian system, as the development includes plans to expand the PATH east of Yonge Street.

ALSO READ: Sugar Wharf by Menkes a well-connected waterfront community

ALSO READ: Menkes Breaks Ground on Waterfront Innovation Centre on Toronto Waterfront

The residential component of the community, designed by architectsAlliance, will include five condominium towers, varying in height from 64 to 90 storeys, and a midrise rental building. In summer 2018, Menkes launched the first two residential towers and sold 1,241 of a total 1,463 condo units (85 per cent).

According to Altus, new condominium sales fell 38 per cent from the record high in 2017, though they remain close to the 10-year average for the market. Industry experts predict new condos will remain the primary source for additional housing needed to keep up with the pace of immigration.

Construction is well underway at Sugar Wharf Residences. Excavation at the site progressed to over 40 feet below grade. Completion of the towers is slated for 2022.

The Sugar Wharf community officially broke ground in January 2018 with the first phase of the project, 100 Queens Quay East, a 25-storey office tower, featuring approximately 690,00 sq. ft. of Class AAA space. In addition to the new office building, the community will include approximately 300,000 sq. ft. of multi-level commercial retail space, including the new flagship LCBO store. Expected occupancy for the office tower is spring 2021.

 

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COVER STORY: Sugar Wharf

Sugar Wharf by Menkes a well-connected waterfront community

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Sugar Wharf by Menkes a well-connected waterfront community

Bitter winds and harsh climates are an inescapable fact of Canadian living. And when the cold is a predominate part of life, connectivity becomes a much sought-after luxury. Perhaps more than ever before, people are looking to invest in communities where everything they need comes with convenience – sans slush and cutting wind.

Enter Toronto’s indoor PATH pedestrian system – the world’s largest underground shopping complex. On cold winter days you can walk to work, do your banking, visit the doctor and even see a movie without ever having to set foot outside.

This 30-kilometre network includes 1,200 shops and services, restaurants, and endless entertainment; the epitome of convenient urban living. The PATH is truly the heart of Toronto’s financial and entertainment districts, with connections to 80 buildings, six downtown subway stations, 9 hotels and direct access to the Scotiabank Arena, Metro Toronto Convention Centre, Toronto Eaton Centre shopping centre, and CN Tower.

As Toronto continues to thrive, its global appeal is helping it attract more than 100,000 new residents per year, and many of these people want to work and live downtown. Given this rapid growth, it’s no wonder that the world’s largest underground city is about to get even bigger as well. As part of the new Sugar Wharf community by Menkes, the PATH network is set to expand east of Yonge Street, into the emerging Waterfront Innovation District.

Outdoor Terrace
Outdoor Terrace

Menkes is reimagining Toronto’s Waterfront with Sugar Wharf Condominiums, part of an 11.5-acre community that will include luxury residences, offices, restaurants and shops, a two-acre park, and new school. Once complete, Sugar Wharf will be the largest mixed-use development on the Toronto Waterfront; home to 7,500 residents and 4,000 office workers.

Party Room
Party Room

The comprehensive project aims to seamlessly connect residents and office workers to all parts of the downtown core through the PATH, adding to the 5,000 people who already work in the PATH and more than 200,000 commuters that pass through it daily. The PATH also provides access to Union Station, with connections to the TTC subway, GO Train, Via Rail, and the UP (Union Pearson) Express.

Hammock Room
Hammock Room

Residents living at Sugar Wharf on the PATH will be able to take advantage of the UP Express to travel to Pearson International Airport in a quick 25-minute ride. Traveling to your dream tropical destination during the winter months will be easier than ever before. Imagine being able to wear shorts and a t-shirt from home right up until the moment you board your flight without ever putting on your 10-pound winter jacket!

Lobby
Lobby

With Sugar Wharf’s PATH extension, it will be possible to walk indoors from the waterfront, all the way to Toronto’s world class Financial District. Equally connected to the city as it is to nature, Sugar Wharf will revolutionize how Torontonians live, work and play.

SUGAR WHARF’S WALKING HIGHLIGHTS

CIBC Square: 7 minutes

Union Station: 11 minutes

Scotiabank Arena: 13 minutes

Harbourfront Centre: 15 minutes

Jack Layton Ferry Terminal: 7 minutes

For more information visit menkes.com/sugarwharf


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