Toronto is renowned for its beauty and many people decide to purchase property here. If you are one such prospective investor or home buyer, you should check out a new development that is going to be located at 8 Cumberland Street. In fact the name of this development is precisely 8 Cumberland Street Condos. Although the completion date is not yet confirmed, there are various things you can get to know about these condos – which promise to be truly one of a kind. In fact there is a lot of anticipation and interest in them already.
For starters, the development of these condos is in the hands of Phantom Developments, which are renowned for their superior quality developments and satisfied clientele. Besides, there is no denying that this area is a very good one, and very much sought after for various reasons.
The walkability score of these condos is awesome, in fact it is a full 100/100. This is because this is definitely one of the best areas of Toronto. A very walkable area, and a very vibrant neighbourhood, where you will find literally everything and anything you might need. Just for the great walkability score, many people are interested in these condos, especially those who hate travelling to do their shopping, or those who do not drive.
Having said that, there is an easy walking distance to both the Bay and Bloor-Yonge subway stations. One will also find a vast array of shopping, entertainment and dining centers within close proximity. In fact since these condos will be located in the Annex neighbourhood in Toronto, one will have close access to the core of Downtown Toronto too.
For families with kids, the 8 Cumberland Street Condos are ideal. This is because there are parks such as the Asquith Green Park, the Harold Town Park, and the Jesse Kethcum Park nearby. There are several schools close to this street too. The University of Toronto and the ROM are just a five minute walk away from these condos.
8 Cumberland Street Condos will have 64 storeys, which will comprise 531 units. This condo development is going to have over 1400 square meters of retail areas. These will be on level one and level three. The residential condo units will include one bedroom, one bedroom plus den, two bedrooms and two bedrooms plus den options.
So if you want to make a really good investment, make sure to keep track of this development as these condos are really up for grabs, both because of the unique location, and also because of the competitive prices.
Pricing & Fees
Sales from $639,990 to over $1,832,990
Cost of Parking:
Regular $169,990.00; Compact $135,990.00
Cost of Locker:
$10,000 on Signing
Balance to 5% in 30 days
5% in 240 days
10% on Occupancy
Credit on Closing for Purchaser
- Studio: $6,000
- 1 Bed: $7,000
- 1 Bed + Den: $8,000
- 2 Bed: $13,000
- 2 Bed + den or larger: $15,000
Free Assignment Fee (Value of $5,000. Legal fee must be paid)
Right to Lease during Occupancy
Capped Development Charges & Levies
- $15,300 for 1 Bedroom and 1 Bedroom + Den
- $18,800 for 2 Bedrooms and larger
Extended Deposit Structure