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The Schoolhouse Lofts - 391 Brunswick Avenue
Converted from a Catholic schoolhouse, this art deco inspired loft building is one of the hottest properties in the coveted Annex neighbourhood. With spacious terraces or balconies overlooking the quiet residential street on which it is located, The Schoolhouse is close to everything that makes the Annex hip.
The Schoolhouse Lofts is an architectural gem in a true city neighbourhood. A limited collection of only 19 residences were designed for this art deco inspired, all girls' original Catholic Schoolhouse. The Annex neighbourhood is known for the galleries, theatres, museums, subway, shops, gourmet dining and close to the cities best cultural attractions. Land supply is scarce and condo projects rarely come on the market in this highly desirable area of the city.
The lofts range in size from 1,032 to 2,092 square feet and feature dramatic 10-foot ceilings, expansive windows, chef-inspired kitchens with stainless steel appliances, and wrap-around terraces or balconies. Two new floors were added to the existing structure so the stunning penthouse lofts could have outdoor terraces and premium views. An intimate and sophisticated residence - without the expensive amenities - is what will attract discerning buyers to The Schoolhouse Lofts.
The Schoolhouse Lofts is one of those projects that comes along once or twice in a lifetime. Intimate in scale and number of suites, it preserves historic original architecture and adds stylish contemporary interior design to make this development unique in Toronto and precious in the Bloor/Annex neighborhood. Often, these gem-like structures fall into the hands of a ham fisted developer unaware of the intricacies of honoring history while at the same time embracing the here and now, well not this time.
With the demand for premium Bloor/Annex/Yorkville condominiums vastly exceeding the supply, pricing for stylish product has reached $600-$1000 per square foot. You just need to look around to see why. The freehold housing stock is in extremely short supply with less than 200 homes being sold each year with virtually every sale experiencing multiple offers. It's been that way for years.
The actual stock of Annex housing will remain flat; just how many homes are getting built in the Annex per year? Less than a dozen. Additionally, how many condos can be built in this neighborhood when it is not possible to buy a few homes, and demolish them to build a building? Could you imagine the hue and cry from the neighborhood? The Annex neighborhood will experience extreme price increases over the next few years as virtually nothing new gets developed and the resale supply remains tight.
Construction is almost done (as of May 2009) and there are many buyers eagerly awaiting resale opportunities. But with prices at The Loretto Lofts next door averaging more than $650,000 (as of May 2009), expect to pay a premium to live here. And with less than 20 lofts in the entire building, demand is sure to exceed supply.
Interior design work has been done by Toronto's designer of the year, "3rd Uncle Design". 10-foot-high ceilings, concrete block party walls, custom stairs, custom kitchens and baths, stainless steel kitchen appliances, full size washer and dryer and every conceivable luxury material round out the finishes in these luxury homes. In development it's the little things that mater, and at The Schoolhouse Lofts the little things have been attended to.
So, if you want to live in a faceless, soulless, massive, badly designed concrete high-rise, located on a busy hub, then The Schoolhouse Lofts is not for you. However, if you're looking for a nice transition from a home into an intimate building located in a true city neighborhood, on a quite Annex street where attention to history, architecture and design are the guiding focus, come and see what The Schoolhouse Lofts to offer.
Email or phone 416-388-1960 today if this building interests you.
The Schoolhouse Lofts - 391 Brunswick Avenue