Paintbox Condos

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Paintbox Condo is next line for another spectacular success story after Daniel’s formulaic train of successes with One Park West, One Park West Urban Townhomes and One Cole. Imagine living on top of the new Regent Park Arts and Cultural Centre with a spectacular urban outdoor terrace overlooking the new six acre community park.

PAINTBOX UPDATE: The project will have 283 suites, ranging from 392 square feet to 925 square feet. Pricing starts in the low $200,000’s, and the building will be 26 storeys. There will be a ground floor cafe, fitness theatre, great party room, and spectacular outdoor terrace. There will also be retail at the ground level. The project will be connected to the new Arts and Cultural Centre – which is also under construction and they are currently pouring the 3rd floor concrete.NEIGHBOURHOOD UPDATEConstruction of the 6 acre park across the street from Paintbox is set to begin in the summer. The new Aquatic Centre across the street is ALREADY under construction, with completion expected for spring 2012. On the east side of Paintbox will be a new ‘Linear Park’, with interlock stones, tree lines, and the feel of a boulevard.

The Paintbox Condominiums is the newest project by The Daniels Corporation in Regent Park, Downtown Toronto East.  The project will be a 26-storey building with 283 suites, ranging from 392 square feet to 925 square feet.  Pricing will start in the low $200,000s.  There will be a ground floor cafe, fitness centre, great party room and a spectacular outdoor terrace overlooking the 6 acre park across the street. Paintbox will be connected to the new Arts and Cultural Centre, the newest addition to Toronto’s community arts scene.  On the east side of Paintbox will be a new Linear Park with interlock stones, tree lines and the feel of a boulevard.

Regent Park Revitalization
The historical downtown Toronto neighbourhood of Regent Park (spanning from the east side of Parliament Street to River Street and bounded by Gerrard Street East and Queen Street East) is undergoing a remarkable transition.  Toronto Community Housing is replacing the long-isolated social housing neighbourhood with an innovative mixed-income, mixed-use community.  The Regent Park revitalization will take 10-15 years, over 6 distinct phases.  In April 2010, Toronto Community Housing announced plans for the second phase of the project, including the selection of The Daniels Corporation as its developer and construction partner.  The first two phases of Regent Park Revitalization will cover 30 acres of land.

Phase One Highlights:

  • More than 400 households were relocated to allow for demolition and 187 families have moved into a new home.
  • Moving costs are paid by Toronto Community Housing.
  • Relocating tenants began in 2005.  Construction began in 2006.
  • Phase One includes retail, commercial and community spaces.
  • There are 3 new rental buildings, 47 new town homes and 87 new social housing units, that’s 405 units in total.
  • Tenants started moving into the first rental building in May 2009.
  • There are 2 new condominiums in Phase One at One Cole and One Park West, plus 51 market town homes.
  • One Cole is complete and sold-out.  One Park West is nearly 100 percent sold and will be fully occupied by summer 2011.
  • New national retailers include Tim Hortons, the Royal Bank of Canada and FreshCo by Sobeys.
  • The new Regent Park Children and Youth Hub located at 40 Regent Street opened its doors to Parents for Better Beginnings, Regent Park Focus and a daycare centre.

Phase Two Highlights:

  • Phase Two will include 400 rental units in a combination of styles.
  • Phase Two will feature the Paintbox condominiums with 283 units.
  • The 60,000 square foot Regent Park Arts and Cultural Centre is poised to be the next major cultural destination in the City of Toronto.  Construction is well underway on this phenomenal centre from which the Paintbox condominiums will rise.
  • Phase two will also focus on new community facilities, including an aquatic centre, a new community centre, a new park and new retailers along Dundas Street East.

Why is Paintbox a Good Choice for End Users?

  • Paintbox is already under construction, all you need is a 5% down payment!  Only $3,500 on signing the Agreement of Purchase and Sale, and $1,000 per month until your move-in date or until 5% of the purchase price has been paid.
  • If you do not own a home and are currently renting, you may qualify for Daniel’s FIRST HOME BOOST program, the most powerful first-time buyer program ever created.  This innovative down payment program provides an INTEREST-FREE and PAYMENT-FREE loan for an additional 10% of the purchase price, turning your 5% deposit into a 15% down payment!  See more details about this amazing program here.
  • Move-in within 1 year!  Occupancy is expected to be summer 2012.
  • Live in a brand new condo (and enjoy all the brand new community facilities in the neighbourhood) by the reputable builder Daniels in Downtown Toronto starting at the low $200,000s.

Why is Paintbox a Good Choice for Investors?

  • Only 5% down before occupancy!
  • The Regent Park Revitalization project is going to bring lots of employment and infrastructure into the neighbourhood and with a long term, master planned community project, it is natural to expect the developer to raise the price with each new phase development.
  • People who bought at the early days of One Cole (Phase 1) have already seen as much as 20% appreciation!                                            A 1+Den unit of $253,000 (with parking) in May 2009 was sold for $305,000 in September 2010.                                                                      A 2 bedroom unit of $348,000 (with parking) in May 2009 was sold for $420,000 in November 2010.
  • Start collecting rental income within 1 year of purchase (occupancy is expected to be summer 2012), as an example, a 1+Den unit at One Park West (Phase 1) is renting at $1595 per month.  With the downtown location (and only 1 block away from the Ryerson University), a rental unit will only last on the market for a few days; currently, there is only 1 unit available for rent in One Cole and One Park West condominiums.


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Sam Elgohary

Sam Elgohary is a Real Estate Broker with Century 21 servicing his clients in the Greater Toronto Area (GTA). He has a wide range of experience in Pre-construction Development and resale and is always looking to give his clients the most up-to-date knowledge about the market to help them in making new investments or selling their homes. His close connections with builders and a wide network of agents give him a competitive edge on everything to do with Toronto Real Estate. Connect with Sam: Cell 416-565-5925. You can find Sam Elgohary in Google +