TWO NEW TOWERS AT 99 BROADWAY AVENUE IN TORONTO
- Studio – $204,990
- 1 Bedroom – $245,990 – Average Resale $385,700
- 2 Bedroom – $387,990 – Average Resale $565,830
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The Citylights On Broadway is a proposed 2 towers with 34 storeys each connected by a six storey podium with a total of about 888 residential condominium units currently in pre-construction at 99 Broadway Avenue by Yonge Street and Eglinton Avenue in Toronto, Ontario by the Pemberton Group. 90% of the suites are priced between the $200,000’s to $400,000’s. The development is scheduled for completion in Fall/Winter of 2018.
This development includes the replacement of 32 rental units at 197 Redpath Avenue which is a three storey apartment building. This application proposes to also demolish two detached homes situated at 95 and 99 Broadway Avenue including the rental building on Redpath Avenue. The rental units will be replaced with the same number and types of units.
This proposal includes about 392 suites located in the North Tower and 496 suites located in the South Tower. These residential dwelling units will range in size between 414 square feet to 736 square feet. The unit types include a great selection of 1-bedroom units, 1-bedroom + den units, and 2-bedroom units. All of the 1-bedroom + den units will have two full bathrooms. Floor plate consists of five 1-bedroom, one 1-bedroom + study, two 1-bedroom + den (both north facing suites) and four 2-bedroom suites. Ceiling heights are approximately 8’6″ and deposit structure is 30 days, 90 days, 420 days and occupancy.
There will be a total of about 366 parking spaces available in the 7 levels of underground parking of which 274 spaces are reserved for the residents of Citylights On Broadway. The parking and loading area is located on Broadway Avenue and Redpath Avenue.
Bright Lights Big City Condos at Yonge & Eglinton. The amenity area is proposed to be spread out over three levels of the podium. The amenities included will definitely appeal to the younger demographic group.
CityLights – Key Highlights
1. The Big Three – Critical Pillars of Growth (Infrastructure)
• Commercial Real Estate
• Retail Infrastructure
• Public Transportation
2. The Eglinton Crosstown LRT
• Project Cost: $5.3 Million
• Largest Public Transportation Project Since Yonge/University & Bloor/Danforth Subway Projects
• 19 Kilometers Long (10 Kilometers will be underground between Keele & Laird)
• LRT is faster than a subway train (24/km Vs 28/km)
• 25 Stops Between Mt. Dennis and Kennedy
• Completion Date: 2020
3. The Future of Toronto
The impact that the LRT will present to the City of Toronto will propel Yonge and Eglinton to become the Centre of Toronto. Invest before the LRT is built, not after. As of today, the construction and commitment to growth at Yonge and Eglinton will create a “Yonge and Bloor” environment as both of these intersections are the only ones that offer subway access North, East, South and West. The average renter cannot afford to drive, increasing the demand to live within a closer proximity to Subways (as well as Retail, Restaurants, Office Jobs)
4. The Neighborhood – LOCATION! LOCATION! LOCATION!
• Yonge & Eglinton is the second fastest growing employment centre of Toronto.
• The Avg. household income is approx. $129,000 VS. GTA Avg. approx $86,000
• Expensive, High-End Resale Housing and Condominium Submarket. Affordable Options Are Very Limited.
• Tenants Are Highly Qualified, Young Professionals.
• Walk Score: 93/100
• Transit Score: 91/100
Centre of Toronto Resale Neighborhood
Avg Detached Home – $1.3 Million (2014)
Ave Semi Home – $929,005 (2014)
Ave Condominium Price $518,957 (2014)
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