Saturday, February 13, 2010

Why are the prices in College Park higher than the surrounding buildings?



The Residences of College Park certainly command a higher price than other condominium residences in the neighbourhood, though not everyone understands why. Consider some of the benefits of College Park, which will soon become some of the benefits to Aura when the buildings are linked underground.

1) Direct underground access to 777 Bay, the College Park Mall, which is connected to College Subway Station, Metro, Winners, Marche, Service Canada, a food court, Tim Hortons, Pharma Plus, TD Canada Trust and a whole host of other stores and services. In the winter, heck - even the summer - there is technically never any need venture outside for anything. You can view the services available at the historic Art Deco portion of the original College Park building here: http://www.torontocollegepark.com/




2) Well regarded builder, Canderel Stoneridge, has done an impressive job of high quality finishes throughout the building.

3) A dynamite location that is close for medical professionals, since the hospital corridor is only one block over on University Avenue, and government employees, with numerous government buildings - most notably Queen's Park - within the area. Plus, the University of Toronto is just around the corner for students and faculty.



4) It's new - And sometimes it's as simple as that. Many people prefer to live in a space that does not require updating or renovating, and since there are a number of buildings that are 20 or more years old in the area, College Park glows in it's newness.

5) The maintenance fees remain low in College Park because of good management and due to the fact that there is little to upgrade at this point and because the amenities are shared between both phases of College Park.

6) College Park is designed to be a community, and as such, community events are organized to bring the building together. You'll find there are aerobic activities, educational seminars, sporting events, wine and cheese nights, movie events, and more on the way. You can see the activities in the building through a website designed by the volunteers on the College Park social committee: http://www.theresidencesofcollegepark.com/

7) The great amenities in the building include: Two guest suites, a computer room, board room, movie room, party/billiards room with a full kitchen attached, virtual golf and ping pong room, a pool with a jacuzzi and steam room, gym, dance studio and a 3rd floor terrace.

8) A small thing, but a good thing: lockers for the upper floors are on the same level so there is no traipsing around the building to put away camping gear and empty electronics boxes.

9) Safety through 24 hour concierge and security, restricted access to floors if not a resident, fob access to various private areas of the building and security cameras in the hallways and elevators.

10) Affordable luxury for the downtown core while still being within a short walking distance to Yorkville, the Eaton's centre and all that the core has to offer.

This is a great place to live, and I'm sure those who live here can contribute even more to this list, based on their own experiences.

Knowing how successful College Park has been with the residents of Toronto will only solidify for me how well Aura will add to the real estate landscape of this city.

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