Toronto Builder - Fall 2009 - (Page 20)

By Susan Legge MILE-HIGH CITY INSIGHTFUL The model for The Landmark features dramatic decor with a traditional European theme, a common theme throughout the project The view from Spire ARMED WITH A jam-packed schedule of speakers, sales offices and models to tour, Denver, Colorado proved to be an insightful destination for this year’s BILD Housing Study Tour. The mile-high city was strategically chosen to expose members to both the low- and high-rise markets and featured an incredible selection of mixed-use condominiums, live/work and traditional low-rise developments. Not unexpectedly, the word “foreclosure” popped up in the media quite a few times during our visit. Speaker Robert August, who heads up the Denverbased company S. Robert August & Co. Inc., Real Estate Development Solutions, spoke to our group about the challenges builders face, not only in terms of recessionary woes, but also municipal charges, such as Water Tap Fees. The city relies on builders to collect this fee from purchasers, and the cost, which can range between $40-75,000, is exorbitant. “He who controls the water in Denver is in control,” said August. In fact, over the next 8-10 years, Denver Water, the largest utility in the state, expects to spend approximately $659 million to expand and upgrade 20 • Toronto Builder • Fall 2009 its water treatment facilities, treated water distribution system, and recycled water system to serve new and existing residents. August mentioned that although Denver is a city, he does not consider it to be an urban one. The core of the city has started to thrive with the revitalization of lower downtown Denver, known as LoDo. This area is frequented by university students and young professionals much like our Entertainment District in Toronto and is considered to be highly desirable and affluent, with a mix of housing types much like Toronto’s Liberty Village community in the King Street West downtown corridor. The LoDo site we visited, called Riverfront Park, consists of new construction with avant-garde styling which includes brownstones, condos, penthouse, lofts and commercial and retail spaces as well as bars and restaurants. Prices on the Riverfront website show mid-rise condo units for sale from $259,000 for an 870-sq.-ft unit; modern, upscale townhomes are available from $435,000 for 1,135 sq. ft. and jump up to 1,975,000 for 2,832 sq. ft. Other tour highlights: Tour Chair Mira Tomljenovic of IN2ITION Marketing Insights at the Riverfront Park presentation centre with Matt Mahoney, Construction Director BILD members get the facts on Spire

Table of Contents for the Digital Edition of Toronto Builder - Fall 2009

Toronto Builder - Fall 2009
Chair’s Message
President’s Message
Double Victory for Fact-based Lobbying BILD Efforts Results in Better Tax Deal for Homebuyers and Builders
BILD Housing Study Tour
Moving the Future
LEED for Neighbourhood Development
Habitat BBQ
Habitat BILD Day
National Home Show
RealNet GTA Market Update
Sponsor Profile
Calendar of Events
Marketing Partners and Corporate Sponsors
Welcome New Members
Index to Advertisers

Toronto Builder - Fall 2009