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Response to Is the East Side the New West Side?
as posted on www.blogto.com
The new loft-condos additions to Carlaw Ave. at Queen St. East represent, in my personal opinion, a reasonable alternative to King West prices and affordability.
I wrote about The Printing Factory as such alternative in my blog:
http://urbanrealtytoronto.com/wordpress/2007/03/08/the-printing-factory-lofts-on-carlaw-ave/
Toronto is changing and as long as demand outgrows supply – like we’ve seen in the past decade – prices will increase. Add to this the increasing cost of land, labour, materials, transportation, taxes and other factors, and you’ll understand that Toronto prices are likely to increase even further.
“The East End”, i.e. East of DVP, is approximately the same distance to Eaton Centre as the new West Side Lofts are, yet it offers the freshness of up-and-coming neighboorhood which is still unknown to many, available TTC and bicycle access, or driving access to Gardiner, DVP and Eastern Ave. and you can still find street parking.
Within a couple of years the area on Carlaw Ave. south of Dundas and North of Queen St. East will get re-built as more old factories turn into residential loft living, with additions of new construction to join.
Carlaw Ave. prices are now at the $333 to $350 PSF range for your typical 1-bedroom condo loft, or approx $200,000 for 600 sqft. Compare that with $390 PSF at 550 Wellington and $450 PSF $270,000 at M5V
Thank you for this great article and excellent comments,
Yossi Kaplan
Harvey Kalles Real Estate Brokerage, Ltd.
http://www.urbanrealty.ca
