Toronto Committee of Adjustment Decision Adds Three More Storeys to
Aura; Decision Ends 'Debate' About Country's Tallest Condo
TORONTO, Feb. 17, 2012 /CNW/ - Canada's tallest condominium got taller
recently thanks to a decision by the City's Committee of Adjustment.
In its decision, the Committee awarded Canderel (the developer) three
additional storeys at Aura, allowing the skyscraper to stand 78 storeys
(273m) above Toronto's historic College Park, at the northwest corner
of Yonge and Gerrard.
"The decision by the Committee of Adjustment, like the development
itself, is massive," says Canderel's Vice President of Sales and
Marketing, Riz Dhanji. "With it, the contest for the bragging rights
to Canada's tallest condominium among condominium developers and
marketers is effectively over. At 78 storeys and 273m, Aura is clearly
the tallest residential tower in Canada!"
The three additional floors will mean approximately 50 new condominium
suites will become available for sale, taking the total unit count in
the tower to 985. The developers are confident that despite boasting
Toronto's highest number of suites in a single tower, there remains a
strong appetite among condo buyers for units at Aura.
"With Aura's reputation for being one of the city's fastest selling
condos, its prime location, the speed of construction and a real estate
market that continues to be red hot, I wish we could go beyond the 78
storeys we have today," says Dhanji.
Among the suites available at Aura, Canderel continues to market their
penthouse collection of suites, starting at the 75th floor, from $2.3m. The company also continues to market the tower's
singular penthouse suite, which, according to Riz Dhanji, is considered
to be "among Toronto's most exclusive real estate listings."
"At 11,370 sq.ft., this full floor residence offers one-of-a-kind views,
and is available for $18.3 million," he adds.
Aura was designed by Toronto-based architect Barry Graziani, of Graziani
+ Corazza Architects, and was launched in 2008. Construction on the
development, which now stands at more than 1.3 million square feet, was
started in the spring of 2010, while the site includes more than
180,000 sq.ft. of prime retail space at the podium levels, plus
additional recreational spaces.
Since its launch, a litany of world-class retailers have agreed to open
at Aura including a Bed, Bath & Beyond, the Bank of Montreal and a
Marshalls Department store, as well as Canyon Creek and Alice Fazooli's
restaurants. The retail is expected to open later this Fall, with the
initial residential occupancies at Aura commencing thereafter.
Beyond the creation of a new, dynamic retail strip along Yonge Street,
the development will also provide direct connections below ground to
the TTC Yonge Subway line, as well as future connection to an expanded
The Committee of Adjustment decision follows a lengthy period of
consultation between Canderel, Ward 27 Councillor Kristyn Wong-Tam and
City of Toronto planning staff, local residents and business
associations and individual neighbours.
"These discussions with various stakeholders were always guided by
Canderel's commitment to ensure that Aura benefitted not only its
purchasers and commercial tenants, but the surrounding neighbourhood,"
says Riz Dhanji.
SOURCE Canderel Residential
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