There is a new development coming to 42 Charles Street East by Cresford Developments, the former YMCA building across the street from Chaz on Charles. We haven't seen any renderings, any floorplans – the development doesn't even have a name, however, in March you will have the opportunity to buy.
What we DO know about the project is very exciting. The development will stand a whopping 64 storeys tall (One Bloor, by comparison is 65 Storeys) and will be sandwiched between two other Cresford projects: Bloor Street Neighbourhood (35 Hayden) and CASA (33 Charles East). Both projects resell on MLS in the upper $500's per square foot, and rental rates are among the highest in the city, especially for CASA.
Chaz on Charles is currently selling around $700 per square foot, and developments in Yorkville both in pre-construction and the resale market are selling for as much as $800 per square foot. Rumours have it that this un-named development will be selling to VIP agents like ourselves starting from $600 per square foot, which makes it incredible value for investors.
TalkCondo's clients will be one of the first in line for the opportunity to purchase at this exciting development. A VIP Sales Event is scheduled for the end of March. If you are interested in purchasing or receiving more details for this development please contact us using the form below.