Two new Toronto luxury condo towers are scheduled to officially launch later this month, according to Cortel Group.
The builder stated that its latest project – Towers 3 and 4, representing the final phase in the high-demand Oak & Co. luxury condominium complex – will be launched on April 27, 2019.
“Located at Trafalgar and Dundas East in the Uptown Core, Oak & Co. will be pivotal in shaping the area’s visual landscape while providing countless amenities and creating its own identity,” Cortel explained in its announcement.
“Situated right in between Morrison Creek Natural Heritage Park and the Uptown Core community, Oak & Co. is a wonderful synthesis of the natural and urban setting that defines all of Oakville as a whole. Most units overlook the leafy landscape by means of generous balconies and large glazed openings.”
Construction of Towers 1 and 2 is already well underway, and Towers 3 & 4 are expected to enter the Toronto market starting at the $300s, the developer added.
“Cortel Group is committed to securing communities which lead urban growth without compromise,” vice president Peter Cortellucci said.
A January report by Royal LePage revealed that luxury condo price growth in the Greater Toronto Area accelerated by 10.2% over the 12-month period ending January 31, reaching an average of $2,268,571.
“There were fewer listings available in the larger suites, so there was higher demand for them and, therefore, that often resulted in multiple offers last year, which drove up the sale prices,” according to Elli Davis of Royal LePage Real Estate Services Ltd.
“This spans the entire luxury market but it was pronounced in units over 2,000 square feet, which are the type of suites boomers go for because they’ve just sold their family homes but want something equally beautiful, just with a different lifestyle.”