Bisha (Entertainment District) by Lifetime & INK

Bisha Hotel & Residences (56 Blue Jays Way) is a new condo development by Lifetime Developments and INK Entertainment located in the Entertainment District.  Sales for VIP agents began in early September 2010 and has been one of the top selling developments in the fall of 2010.  Bisha Hotel & Residences has an expected completion date of April 2014.

Bisha is the latest development in an increasingly popular line of High End Hotel & Residence developments following the success of the Residences of Ritz Carlton and The Private Residence of the Four Seasons.  Bisha sets itself apart by teaming up with INK Entertainment (the company who run uber popular lounges across the city such as Ultra Supper Club, The Guvernment and Kool Haus Entertainment Complex among others) to give the building a "Luxury with Edge" feel.  If you haven't checked out the Bisha showroom, you owe it to yourself to do so – it is Swank with a capital S.

Part of what makes the "Hotel & Residence" buildings so popular is all the extra amenities that living in a "Hotel" provides.  Bisha is no exception, with standard features including Valet Parking (anyone else as excited about this as me?), A 24 hour Concierge that acts like a hotel concierge – need theatre tickets? Just let the Concierge know and they'll get them for you! Let's not forget the 24 hour cafe's, bars and five star restaurants all available to you without ever leaving the building!  It doesn't stop there, how about a high-end salon to get your hair did before you go out on that Friday night, pet walking and a grocery delivery service – this is living at it's very very finest.

One of the biggest features of Bisha is the Rooftop patio.  This is not just any ordinary rooftop patio.  Offering a view of the entire city, with a fully manned bar, an infinity pool and cabanas, imagine the Ultra Supper Club Rooftop available exclusively for you and your fellow residences every night of the week.

It's easy to see why Bisha is one of our favourite developments currently available in the City.  Be sure to check out our Price Analysis below to see how Bisha stacks up against it's competitors.

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Bisha is located at 56 Blue Jays Way in the Entertainment District.

	Bisha Hotel & Residences
	Similar Pre-Construction Developments
	Similar Resale Developments

When purchasing any new development it is very important to compare the project to other new developments.  Bisha is one of the hardest developments to analyze as there is nothing else on the market quite like it.  When it is finally built in 2014, we have to wonder how the public will view Bisha – will it be in line with the Pantages & SoHo Met (selling today at approximately $550 per square foot), will it be viewed in line with the Thompson Residences and the King Edward Residences (Selling pre-construction from $600-$800 per square foot), or aiming even higher, will it be seen in the luxury category of The Ritz-Carlton and Four Seasons ($1,000+ per square foot)? This ambigouity makes it extremely difficult to analyze the price.  My belief is that Bisha will fall somewhere between Thompson Residences and the Ritz-Carlton ($1,200+ per square foot) making it priced very well at approximately $700-$750 per square foot.  Below is a table comparing similar pre-construction developments.

It is also of extreme importance to compare any development to the resale market as it gives us insight into how well the development is priced compared to TODAY'S market.  We know that the average price per square foot in Toronto today is approximately $550 per square foot.  Looking at resale trends also gives us valuable insight into the appreciation values of a given area.  The average appreciation rate in the GTA is approximately 5% per year.  Condos in the Entertainment District have appreciated at approximately 9-11% per year for the last 5 years.

When compared to similar properties, I believe Bisha to be priced very well.  There is nothing in the market quite like it and fills a gap in the market that isn't quite ultra luxury (Ritz Carlton & Four Seasons) but also offers more than your everyday development.

Any savvy investor will look at how the Rental Market is for any development.  Bisha does not begin occupancy until 2014; a lot can change in that time.  Therefore, it is very important to have an idea of what you can expect to rent your unit for.

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If you are interested in receiving more information about this development including floorplans and detailed pricing, please fill out the contact form below or call Roy direct at 416-835-9436.  If you would like TalkCondo to send you new developments as soon as they launch to your inbox, sign up to our newsletter here.