A few weeks ago, I tweeted that I was creating a simple email newsletter that would notify you of new planning/development applications (and updates) near where you live (in Toronto). About 100 people subscribed following that tweet and we then spent the following few weeks getting the service ready.
The first email was sent out today and, if you haven’t already, you can subscribe for free, here. The way it works is pretty simple. You enter your postal code. We draw a 1000m radius around that postal code (we’ll monitor this number going forward to see if it continues to make sense). And we then send you any new applications/updates that fall within that radius.
So depending on where you live, the first email you receive could contain a long list of projects. They’re all assumed to be new initially. But going forward, the list will become much shorter and you’ll only receive an email if/when there’s something new to report.
The ultimate goal is to come up with a better way to engage people around new development projects. This is a first step. Regardless, our guts tell us that many people would appreciate a quick way to see what is happening around them. If you have any initial thoughts, please leave a comment below or send me an email.
You can email subscribe for free by visiting unlyst.com.
Today I'm excited to announce that the Junction House Sales Gallery has just received a Best of Canada Award (2019) from Canadian Interiors. Link, here. Shout-out to Dialogue 38, Vanderbrand, Unique Urban Homes, Superkul, and the rest of the team for making it happen. We are fortunate to have had such a cool space to work with. It was previously occupied by the art studio, Moss & Lam. And so from the very beginning the idea was always to find the right balance between old and new, raw and unpolished, playful and luxurious.
Some of you may also not be aware that before we converted the above studio into a condo showroom, we donated it to a number of creative groups who were looking for space, but maybe didn't have a lot of (or any) money. Lost & Gone used it to host an immersive rendition of Romeo & Juliet (video of the performance, here). DJ and designer Steve Aoki used it to launch one of his Dim Mak collections (okay, he has a lot of money). And Secret Walls used it for a live art battle. In fact, Secret Wall's markings are still present within the Gallery if you look up toward the ceiling.
Before we came along, the space was used as an art studio. That's an important part of the Junction House story and we wanted to commemorate that in the build out of the Sales Gallery (the "Gallery" part is meant to reference this past use). It is also one of the reasons why we partnered with Ben Johnston for this "Forever" mural on the outside of the building (yes, we see the irony); why we created a place for artists to showcase their work (currently Leeay Aikawa); and why we commissioned a celebrated local artist (Thrush Holmes) to create a custom piece for the future lobby of Junction House.
Art matters.
Urbanation released its Q3-2018 condo market results for the Greater Toronto Area earlier this month.
Here are a few highlights:
- The unsold inventory of new condos in development is currently 33% below the 10-year average of 14,806 units.
- Year-to-date sales of new condominiums decreased to 14,055 units from 25,839 units (same period last year). 2017 was a record year.
- The average price per square foot for new project launches in Q3-2018 was $1,044 psf. This is the first time the average has broken the $1,000 psf mark.
- This is a significant price increase from last year and it is being driven by low supply, stable demand, and rising development/construction costs (my opinion).
- The average unit size for project launches in Q3-2018 was 714 sf.
- The average opening quarter absorption rate remains above 55%. It has been this way since Q1-2016.
For the full press release, click here.