# Any Feedback on Wilson Station /Yorkdale Mall area?



## marina628 (Dec 14, 2010)

We are considering buying an investment Property in this area and wondering if any locals have any good or bad feedback to give us .We are looking to purchase summer 2012 so just starting to do some homework.

Marina


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## GeniusBoy27 (Jun 11, 2010)

It has pretty good access to highways and access to downtown. The only downside is the area has lower income housing at the time, and has a slightly industrial feel to it.

In the long run, I think it will do better, but it depends on price points, etc.


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## marina628 (Dec 14, 2010)

The access to downtown is key for us  It will probably be very low 200s ,we just need a 1 bedroom + Den with in suite laundry and a parking spot nothing fancy.


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## ddkay (Nov 20, 2010)

East or west of Allen Rd? East can be really nice... west not so much


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## marina628 (Dec 14, 2010)

East of Allan Road .We have not done much research yet but Neptune road 2 bedroom fully updated $190,999.Obviously we would have to go in person to see the place but hoping this location would work.Our daughter is going to have 6 years in school so rather than pay $1200 a month for rent downtown she can take transit in that area and with her roommate our share of expenses is only $475 a month.


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## ddkay (Nov 20, 2010)

I see, so you'd ride the bus to/from Wilson or Yorkdale Station (10-15 minutes)

http://www3.ttc.ca/Trip_planner/

You can scope out the area on Google Maps Streetview if you haven't already, there are definitely lots of SFU and MDU for rental there (62% of households were rented in 2001). You can find relevant demographics on the city's website: http://www.toronto.ca/demographics/cns_profiles/cns32.htm

I think you would be overpaying quite a bit here. The industrial 'feel' doesn't go away until you move a bit further east.

If you can snap something up along Yonge/Lawrence that would probably be better.

There are bachelors at Yonge/Lawrence (Chatsworth Apartments managed by CAR.UN), only $885/month, only a matter of finding vacancies.


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## marina628 (Dec 14, 2010)

Thanks DDKAY , we need something about 5 minutes drive from the train station ,my daughter will have a car by next summer.She is going to OCAD but she rather do the commute than live downtown.We are not committed to anything at this point just exploring our options .I value your opinion on the areas , I have been in Toronto area 26 years and never been on a subway so that tells you my own commuting experience lol


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## GeniusBoy27 (Jun 11, 2010)

I don't live that from from Wilson station, and I think you have to get east of Bathurst to really feel that it isn't run down. But having said that, the landscape right around Wilson is changing fast, and there's easy access to shopping with Costco, Home Depot, Best Buy and the LCBO. 

At that price point, if it's 190K, that's excellent ... but would it be large enough to actually get a roommate in there too?


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## Spudd (Oct 11, 2011)

I saw those cheap condos on Neptune Road too, so I googled "Neptune Road Toronto" and on the first page of hits was an article about how it was one of the places with the highest crime rate in the city. Right up there with Jane & Finch. That was enough to make me stay away.


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## marina628 (Dec 14, 2010)

I personally like 'the station ' project but It is going to be over my price for sure.Thanks for the Neptune road feedback , I figured it would be the case. We found a nice place on Lawrence Avenue ,I am just window shopping now as the earliest we need it is Aug 2012.


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## Toronto.gal (Jan 8, 2010)

Spudd said:


> I googled "Neptune Road Toronto" and on the first page of hits was an article about how it was one of the places with the highest crime rate in the city. Right up there with Jane & Finch.


To compare the Bathurst/Lawrence area to that of Jane/Finch is a huge exaggeration. 

Yes, there are low income housing around the Lawrence West Station and yes, some new immigrants from Africa have settled there, but it is not a drug/crime infested area as that of Jane/Finch, in fact, there are more ultra orthodox [religious] Jews in the area than drug dealers, LOL.

Neptune condos are old, probably 40+ years, so don't even consider those for investment Marina.

There are very nice condominiums at Eglinton/Spadina; Crystal Towers at Bathurst & Covington & also the Gramercy Park condo on Wilson Heights look nice. The latter is not on the prettiest street, but I believe this project is the beginning of a rejuvenation in the area and also just a couple of minutes walk to Wilson St. and from there, it is just a 20 minute subway ride to St. Patrick, where your daughter would have to get off to go to OCAD.

None of the above can be had for $200K, not even a 1 bedroom, but all you need to do to make up the difference is go to Vegas once or twice.  Also, you would have no problem selling any of those [atm, I believe 2 bedrooms go for $450K].

As you have rich taste, you might consider moving more central yourself. 

http://urbanrealtytoronto.com/wordpress/2010/09/14/1717-avenue-rd-condo-2-bed-1-for-sale/

By the way, the posh Avenue condo is just a 2 minute drive from Neptune condos or the supposedly, crime riddled area, LOL.


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## marina628 (Dec 14, 2010)

Toronto.Gal I have just looked on MLS in the map for condos ,have yet to go to that area as I see no point til a couple months before we will need it.
I got my taste of the city life back in the 80s and 90s but for last decade have enjoyed living where we do.I have my rich taste here on my country lot , this morning My husband woke me up at 7am to see two deer eating the grass on our property and I have a bird house off from my office window and been 8-10 blue jays in the bird feeder all day .Spend the day in a wheelchair in Toronto and you will quickly understand why the city is no longer for me We are not 100% committed to buying yet ,if we could find a nice apartment we would just rent .We have small list of needs ,security on site ,parking spot inside and in suite laundry that is it. The area she lives in Etobicoke is supposedly not the best but she lives in a small townhouse complex and the people there have been very nice neighbours.


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## Toronto.gal (Jan 8, 2010)

Marina, I was just joking about the rich taste; the point I was trying to make is that Bathurst/Neptune, which is not far from Avenue/Lawrence, are nothing like Jane/Finch.

If you're only looking to rent, there are nice buildings around the Glencairn/Eglinton West subway & by subway, just 15 minutes from downtown.


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## marina628 (Dec 14, 2010)

Renting for 6 years goes against everything i believe  so I have fingers and toes crossed.Financially it makes more sense for me to sell off one of our investment properties we have strangers renting (two leases up June 30 so timing will work) and use that to buy the condo for my daughter to live in.I know not everyone feels as I do but we have agreed to pay 50% of our daughters expenses while she is in school.I have big problems paying somebody else mortgage .We know buying downtown out of question so looking at areas on the subway line ,the wilson station is 27 minutes from OCAD and that is her acceptable commute time.Ideally she will get a place 5 minutes drive from the train station ,she will have a car by August.You guys probably know more than I do on RE in the city ,once i go over a purchase price of $280,000 even with a roommate paying $700 a month the numbers start to favor renting.


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## Berubeland (Sep 6, 2009)

Hi Marina,

I manage a condo http://www.realtor.ca/propertyDetails.aspx?propertyId=11296716&PidKey=1355314650

Last time I checked they were still making new ones on site. It's seems pretty good and it's across from the Subway and obviously a stone's throw to Allen Road and 400 and 401. 

It's nice in there, no problems with the building, looks like crap until they will be done construction. But it might be worth a look at, once you get sorted. 

I rent a unit there with no parking for $1150 just for a reference. It's a 1 bed. It's on the 2nd floor. 

Hope this helps....


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## ddkay (Nov 20, 2010)

Given 900sq ft units in my building by St. Andrew station (Financial District), with the same amenities are in that price range, I think market value at Bathurst/Lawrence is still a bit overvalued.

Here's the problem though, in most of downtown Toronto homes are being sold on market for 1.2-3x their CVA.

Unless you're going to live in the same place for more than 20 years, renting is usually cheaper. Owning has other benefits, but I would be upset to overpay for anything.


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## ddkay (Nov 20, 2010)

What you need is a time machine to take you back 5-10 years ago when DT residential cost almost half of what it does today, and the rents were extremely reasonable too


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## ddkay (Nov 20, 2010)

Example of the ridiculousness happening with new construction


```
Address:	80 JOHN ST
Property Code:	370 - Residential Condominium
Year Built:	[B]2010[/B]

Unit	Sq Ft	MPAC CVA	MLS List	Listing Notes		My Notes
3104	568	$350,000	$419,900
3804	568	$350,000	$419,900
2403	1001	$672,000	$799,900	"Leased for $3400/mo"
3607	627	$409,000	$529,000	"$57K in upgrades"	LOL worst offender, shouldn't you ask $472,000 then?
1910	577	$355,000	$447,000
```
Full disclosure: I have VERY close contacts to the developer of this building. The same sales tactics are used everywhere. The "smartest" projects have been able to get away with astronomical markup and profit margins in this boom while most flippers fight for the scraps.


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## marina628 (Dec 14, 2010)

1001 sq for leases for $3400?OMG


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## ddkay (Nov 20, 2010)

We have 2000 sq ft, 2 blocks away. Less amenities, but still, no one is charging $7000/month to lease. Only at the Ritz Carlton. Gimme a break. Even there, the prices are totally bogus "whatever the market is willing to pay". Toronto doesn't take well to real estate depressions, there were some great deals near the end of the last bust that lasted between 1989-1998, also caused by disproportionate supply.


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## AMABILE (Apr 3, 2009)

Builder LANTERRA DEVELOPMENT is constructing 
TREVISO CONDOMINIUMS at the corner of
Dufferin and Lawrence.


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