Investment

Eric Skicki

The Food District: Square One’s Newest Foodie Destination

Written by Eric Skicki Friday, April 5th, 2019
  • Yesterday was the grand unveiling of the much anticipated Food District in Square One. A new  34,000 sq ft food destination to all the foodies out there.

    Square One is currently the third largest mall in Canada, in terms of square footage. As the mall topped a billion dollar in sales, it unveiled a luxury wing with high-end department giant Holt Renfrew and announced a redevelopment that will cost around $580 million.

    Part of the redevelopment would include expanding the north wing ( the former Target area) moving the Chapters on Rathburn Rd into the mall and adding The Rec Room, an entertainment complex by Cineplex that will sprawl over 44,000 square feet and offer two full floors of food and activities.  It will host many restaurants, amongst them Three10.

    The west wing has opened in November with UNIQLO and has reserved 34,000 sq ft for the Food District that will offer a wide array of food hot spots. It will also offer cooking classes, tastings, dinner parties, book signings, and other special events, making Square One a popular destination for all. Some of the restaurants that are calling the Food District home are:

    The Pie Commission – Some of the best pie was born here. Try the beef ‘n’ beer.

    Dal Moro’s Pasta – Authentic Italian pasta

    Craft Chippery – Gourmet chips.

    MidiCi –  Pizza the Neapolitan way straight out of LA. This is Canada’s second location outside of LA, and will offer pizza, pizza, and more pizza, along with antipasto, salads, meat and cheese boards and more!

    The District Kitchen – They will host cooking classes, dinner parties, corporate and special events. 

    Sugar King Factory – Candyland!

    Arvinda’s – Pre-packaged spice Indian blends.

    Bake Three Fifty – Here you can build your own cupcake, milksake and ice cream sandwich. Yum!

    Tao Tea Leaf – Taste different tea flavours for half the year. They have over 180 varieties.

    Blackjack BBQ – Best in town Sweet Whiskey Pork Ribs & Dinosaur Beef Ribs.

    Pier 87 Fish Market & Grill – Fresh or frozen seafood anyone? Your next go to Fishmonger.

    Chocollata Gourmet – Brazilian tradition. Gourmet Brigadeiros with a ton of History.

    The Box Donut – Krispy Kreme who?

    Hale Coffee – Toronto-based specialty coffee roaster.

    BROD – Authentic Danish Pastry house .

    Blossom Moments – Beautiful flower shop.

    La Carnita – If you love Tacos, you will love this Toronto-born Mexican hot spot

    Kingston Olive Oil Company – Taste some of the world’s finest aged balsamic vinegars and extra virgin olive oils.

    The Macaron Boutique – The finest macarons. Order your towers now!

    Sweet Jesus – It’s finally at Square One. Amazing ice cream! Join the rest of the loyal customers by posting on Instagram with your favourite flavour.

    Village Juicery – Cold pressed juice spot.

    Plancha – Spanish cooking with style! Plancha means cooking on a cast-iron plate over an open flame.

    Seed to Sausage – Some of the finest meats with as little preservatives and additives as possible.

    This new expansion to Square One comes amidst all the new construction happening in the area such as M City, The Exchange District, and Avia

    If you have a chance, check out the Food District this weekend. We anticipate a large turnout as it is opening weekend.

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    • This entry was posted on Friday, April 5th, 2019 and is filed under ALL Articles, Condo Features, Investment. Tags:

    Eric Skicki

    The Exchange District

    Written by Eric Skicki Wednesday, March 27th, 2019
    • The Exchange District
      The Exchange District (Developer Rendering)

      Remember when we were saying that the City proposed some new developmental plans for downtown Mississauga? We also mentioned in numerous blogs that what the city was really missing was a new hotel and a lot of chic restaurants. Well, a brand new Toronto developer has taken this as a cue and is doing just that; building out a new downtown core in Square One, dubbed the Exchange District. The developer has set its sights on 3 acres of land that encompasses the site around 151 City Centre Drive. Currently gracing its grounds is a large commercial building with offices and a Tim Horton’s and Dental office at the bottom, along with a lot of parking space.

      The new plan for the site proposes condominium towers, international retailers, a hotel, casual and fine dining spaces, modern offices, accessible green spaces, and a public square.  The renowned developer is Camrost Felcorp, who have developed buildings such as Marina Del Rey Towers I II and III, The Yorkville Plaza, iLofts, California Condos, Imperial Plaza, The Legends, Warehouse Lofts & many more.

      What we know so far

      The site is to host 4 tall condominium towers of modern design upwards of 72 storeys tall. Some of the current renderings suggest completely square buildings with intricate designs offering 2,000 residences. The development will be adjacent to Square One Mall and will not only compete on a national level but global level in terms of luxury and design. The leading architect from IBI and interior designers are some of the finest in the industry and behind projects such as M3 in Square One.

      Redefining Mississauga

      Mississauga is Canada’s 6th largest city. The Marilyn Monroe Towers have been the iconic buildings since they have been constructed and acted as Mississauga’s landmark. However, Projects such as M City and the Exchange District will add luxury and some new iconic towers to the city, taking it to new heights. Mississauga had a hard time competing against a city like Toronto. But once the vision of Downtown 21 becomes a reality, Mississauga can compete with not only Toronto, but cities like New York, Vancouver and London.

      The project is currently in the proposed stages, as soon as floor plans, prices and due dates are released, our team at MySquareOneCondo will keep you posted as always. If you are interested in calling the Exchange District your home please fill out the form below.



      GET PRICES & FLOORPLANS

      REGISTER BELOW AND GET ALL OF THE INFO EMAILED TO YOU IMMEDIATELY

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      • This entry was posted on Wednesday, March 27th, 2019 and is filed under ALL Articles, Articles for Buyers, Condo Features, First Time Home Buyer, Investment, Pre-Construction Condos. Tags: , , , ,

      Eric Skicki

      UPDATE: Mississauga’s Hurontario LRT in Danger of Being Canceled

      Written by Eric Skicki Thursday, December 20th, 2018
      •  

        Hurontario LRT vehicle

         

         

        One of the perks of living in Mississauga’s City centre, nearby Square One, is the easy access to transit and transportation. With highways, major roadways, local and regional transit options you are connected to the rest of the province in many easy ways. Announced in 2012, a major project that will be a great transportation development in Mississauga is the planned Hurontario LRT. Planned to stretch from Port Credit by the shore of Lake Ontario up to Brampton’s Gateway Terminal and circling Square One itself.  Planned to open in 2022 the Hurontario LRT will be a $1.4 Billion, 22 stop aboveground rapid transit option for residents of the region.

         

        Residents in the Square One area are going to be temporarily inconvenienced by the infrastructure construction for the next few years but the opportunity for property values to rise with its construction is undeniable. Resale values are definitely affected by transit options, neighbourhood amenities and walkability. Though current residents are concerned by the likely (though hopefully temporary) increase in traffic congestion during construction.  The Bramptonist points out that “about 70,000 of morning commuters travels to Mississauga from Brampton, even more than the 55,000 that travel to Toronto.” Many of which are coming into the Square One area to the many offices and services in the neighbourhood. Offering these commuters a car-free rapid transit option for commuting will make Square One Condo residents’ driving experience better.

         

         

        Hurontario LRT Streetview

         

        New Government Changes

        In November, new premier Doug Ford put the future of the Hurontario LRT in question when it was mentioned in connection to his plans to ‘eliminate the inefficiencies of the previous Liberal government’. In November he singled out the $1 Billion Hamilton LRT plans as a guarantee for funding. Meanwhile, the provincial PC government has avoided the press and NDP’s questioning about Mississauga’s LRT Future. The provincial government’s refusal to make the same guarantee for the Hurontario LRT is concerning many residents and local officials.

         

        Meanwhile, the municipal governments in Mississauga and Brampton are moving ahead with the plans and infrastructure changes. The new municipal city council in Brampton is proving more open to the LRT plans than their predecessors. The old council cancelled the original plan to have the Hurontario LRT run up through the downtown of old Brampton and this new council is reconsidering the plan to end the LRT at the Gateway terminal. Bringing back to the conversation LRT service in their downtown. Bonnie Crombie, Mississauga’s mayor, has met with Premier Ford in person to plead for the Hurontario LRT. It has been reported she stood her ground and expressed Mississauga’s commitment to their side of the funding. Mayor Crombie has always been a cheerleader for this project.

         

        Follow us on our Facebook and Instagram and we will keep you informed as we get more news to help you make smart choices with regards to your Square One Condo. You can also keep up to date with Metrolinx’s plans on their site.

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        • This entry was posted on Thursday, December 20th, 2018 and is filed under ALL Articles, Investment. Tags: , , , ,

        Eric Skicki

        3 New Condo Projects Launching in Fall 2018

        Written by Eric Skicki Sunday, August 26th, 2018
        •  

          Unless you have been sleeping under a rock, you will know that the pre-construction condo market has been on fire for the past 18 months in Mississauga. Every project which launches sells out in record time.

          We had clients who purchased in condo developments such an M City Phase 1 and 2, Edge Tower, Perla and Block nine, and they are up sometimes over 100% on their initial deposit in PROFIT.

          I, myself also personally own a few condos around the Square One area and have done very well. For experience, I find that condominiums are easy to rent out (typically under 1 week) and they are seen as “hassle-free” investments, which require very little owner intervention. Remember, I stick to brand new condos which not only have a warranty but are also very appealing to renters.

          The first half of 2018 has been pretty quiet in Mississauga in terms of new developments. We had a good amount of people waiting for guidance on where to invest next.

          Today we give our readers an insider look on what is to come for fall 2018. We will have platinum access to three great projects, which are guaranteed to sell out.

          Have a look below and don’t forget to register to the projects you are interested in!.

           
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          M City 3
          .
          M City by Rogers Developments (Yes; the same Rogers as your cell phone provider) had a very successful first and second phase sell out near downtown Mississauga back in 2017. With more buyers then units available (and they had over 700 units per tower) the long-anticipated phase 3, or better known as “M3” Is set to launch soon.

          Here is what we know so far:
          .
          Tower name: Mcity M3

          Location: Burnhamthorpe and Confederation

          Height: 80 storey (This will make it the tallest building in Mississauga)

          Starting prices: $400’s Estimated

          Completion date: 2023 Estimated

          Launch: Mid October  (subject to change)

          Recommended for: Investors and End-users

          Register Here

           
           
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          Pearl Phase 2
          .
          If you prefer living a little away from the downtown core, I would suggest to check out this smaller project by Pinnacle International.  Perla Phase 2 is the sixth tower in a multi-development community by Pinnacle. The builder has a good reputation with staying on time and we can expect this project to be priced very reasonably. Parking and a locker will be included in the price here.
          .

          Here is what we know so far:

          .

          Tower name: Perla Phase 2

          Location: Hurontario and Eglinton

          Height: 15 storey  

          Starting prices: $400’s Estimated

          Completion date: 2021 Estimated

          Launch: Mid September (subject to change)

          Recommended for: Investors and End-users

          Register Here:

          .

           
           
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          Tanu
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          We will also have a very rare opportunity to present a new condominium project in Port Credit.  For those that don’t know, Port Credit is a highly desirable area by the lake in Mississauga. It’s close to many restaurants, parks and attractions. There will be a good selection of unit sizes ranging from 620 sq ft all the way up to 2100 sq ft. We can expect the finishes to be ultra high-end on this one!
          .

          Here is what we know so far:
          .

          Tower name: Tanu

          Location: 25 Park East Street, Mississauga

          Height: 15 storey  

          Starting prices: $400’s Estimated

          Completion date: 2022 Estimated

          Launch: End of September (subject to change)

          Recommended for: End users

          Register Here:

           

           

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          • This entry was posted on Sunday, August 26th, 2018 and is filed under ALL Articles, Investment. Tags: , , , , , , ,

          Eric Skicki

          New Tax Coming on AirBnB Condos in Mississauga

          Written by Eric Skicki Thursday, April 12th, 2018
          • tax

            Over 3 years ago, we covered in a blog, what was then the current state of short-term rentals in Mississauga. The article did spark some interesting debate on whether short-term rentals should or should not be allowed. We even had some major news outlets reach out to us to get more information.

            Since then, the condo short-term rental market has grown significantly. To put into perspective, the leader in this space, website Airbnb, has currently 122 listings for short-term apartment rentals in the Square One area, which is a lot considering that a lot of buildings have a no short-term rental policy and have started to shut them down.  At the same time, there are only 87 listings on REALTOR.ca which are available for lease for a one year term.

            Why is this a growing concern for many?

             

            There are 3 main reasons.

            Given that there are more and more apartments rented on a short-term, it is really starting to affect the supply of apartments for those who wish to stay on a long-term basis. This, in turn, drives prices up to a point where many can no longer afford to pay rent. Right now the average 2 bedroom unit in Square One is around $2000/month.

            Secondly, people who would typically stay in hotels are now treating these condos as viable alternatives. This is hurting the hotel industry, which has to pay hefty taxes to rent out their space.

            Lastly, the residents who live in these buildings argue that they do not want their buildings being treated as hotels by those who rent out units on a weekend basis. It not only creates an unpleasant environment but also puts a strain on all the amenities, elevators etc. Owners of units claim that the value of their own units suffer through short-term rentals through both wear and tear on amenities, elevators, hallways as well as the image that it gives off.

             

            The Proposed Solution – A New Tax.

            Starting July 1st, 2018 the City of Mississauga will impose a mandatory 4% tax on all short-term rentals.

            The money raised from this (which is estimated at almost $10 million a year) will be reinvested in building incentives, to strengthen tourism and to showcase many celebrated attractions – Mayor Crombie announced.

            Under this new law, anyone renting for a period that is less than 28 days, will be charged the new tax. It is also important to note that this will affect homeowners who rent out their primary residence including secondary suites and basement apartments.

            The fine details of this proposal are yet to be finalized and will be released soon.

            Toronto and Vancouver have already put similar tax measures into place and Mississauga is one of the ever fast growing cities will only naturally follow suit.

            We encourage all short-term condo hosts to speak to their accountants to understand the tax implications this may have on them.

            Some condo investors are not happy with the new announcements, citing that this will affect their net profits.  How do you feel about this tax? Share your opinion below.

             

             

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            • This entry was posted on Thursday, April 12th, 2018 and is filed under ALL Articles, Investment. Tags: , , ,

            Eric Skicki

            Rental Fraud Alert Issued For Square One Condos

            Written by Eric Skicki Monday, December 28th, 2015
            • scam

               

               The rental market is a huge contributor to the Canadian economy and its growth. In large cities such as Mississauga, thousands of condos get rented out each year. With the internet at our disposal finding properties has never been easier. However, over the last few years, this has made it easy for internet fraud as well. In the United States alone, around $240 million is estimated in rental fraud and the number seems to be increasing each year. Canada has strict privacy laws that prevent us from finding out just how much money is being lost to rental fraud each year. However, if you were to look up internet scams online, dozens of articles pop up for the GTA alone. In this article, I would like to focus on some stories that came to my attention and to let tenants know what to watch out for when browsing for properties online.

              Over the past several weeks, we have seen a spike in the number of people calling us that have fallen victim of a rental fraud in the Square One area.  Below I will outline some scenarios that have occurred and what you need to look out for when you are searching for leases.

               

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              • This entry was posted on Monday, December 28th, 2015 and is filed under Investment. Tags: , , , ,

              Eric Skicki

              4 Reasons to buy a Pre-construction Condo in Mississauga

              Written by Eric Skicki Monday, June 1st, 2015
              • should-i-buy-a-condo

                Prices are still low – Mississauga pre-construction condos are often below $500 a square foot, which is much cheaper than other major cities. By default, pretty much all pre-construction condos sold today in Mississauga come with one locker and one parking spot. In places like Toronto, parking spots are often reserved for only 2 bedroom units and buyers have to pay up to $50,000 (or more!) to actually get a parking spot.

                With each new building coming up, prices set by the builder tend to increase slightly. Buying early at the VIP stage ensures that you get the first pick of a unit at the lowest possible price.

                The downtown core is still growing – The number of condos in downtown Mississauga has almost doubled in the last 12 years.  Over the next decade, we can see as much as fifteen additional condos within the Square One area getting constructed. With the expanding downtown Mississauga core, we not only see more condos but also more roads, transportation and places to entertain. The recent opening of the Bier Markt has created a lot of buzz online.

                 

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                • This entry was posted on Monday, June 1st, 2015 and is filed under ALL Articles, Investment. Tags: , , ,

                Eric Skicki

                Short-Term Condo Rentals in Mississauga – The Untold Story.

                Written by Eric Skicki Monday, February 9th, 2015
                • condos for rent short stay

                  If you want to rent a condo in Mississauga, you are required by many landlords to sign a one year lease with them.  The one year lease is often seen as a good length of time for a landlord to commit to a tenant, and for a tenant to commit to a property. More than 50% of tenants end up staying for more than a year; sometimes for as long as 5 years. Read FAQ on condo rentals in Mississauga here.

                  Although there are no official definitions of short-term leases, for the purpose of this blog, I will define short-term leases as any residential condominium rental for the period of one day to 90 days, or 3 months.

                  Why is there such a demand for short-term condo rentals in Mississauga?

                  Unlike Muskoka or Miami, short term rentals in Mississauga are not primarily driven by tourism. Mississauga attracts a lot of short-term rentals because of three main reasons:

                  1) Business – Compared to its sister city Toronto, Mississauga is very affordable and easier to commute in by car. Many business professionals come to Mississauga since it’s close to the airport and it’s the headquarters of many fortune 500 companies. Executives that stay in short-term rentals argue that they prefer condos over hotels. Living at times for a week in a hotel can be depressing and tiresome.

                   

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                  • This entry was posted on Monday, February 9th, 2015 and is filed under ALL Articles, Investment. Tags: , , ,

                  Eric Skicki

                  Should I Buy a 1 Bedroom or 2 Bedroom Condo as an Investment?

                  Written by Eric Skicki Sunday, October 26th, 2014
                  • 1-bedroom-vs-2-bedroom

                    Perhaps, the number one question asked by any investor looking to purchase a condo in Mississauga for investment is whether they should buy a one bedroom or a two bedroom condo. Although both have their advantages and disadvantages it’s important that the buyer is aware of all the pros and the cons that come with each choice. In this blog post, we will examine how a one bedroom vs. a two bedroom apartment purchase, affects the bottom line of any investor.

                    Appreciation

                    Capital appreciation is the price appreciation each condo owner gets simply by owning a condo over a period of time.  With real estate prices in Mississauga universally going up by a 2-5% year over year, the idea of leveraging a small downpayment, against a large purchase price is attractive to investors. To put into perspective; if a one bedroom condo which sells for $275,000 goes up in price by 10% over a four year period, the owner made $27,000 in appreciation. On the other hand, if a two bedroom unit which sells for $350,000 goes up by 10% in the same four years, the unit has appreciated by $35,000.

                    Two bedroom units appear to be the better choice over one bedroom units, when looking at the appreciation rate.

                     

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                    • This entry was posted on Sunday, October 26th, 2014 and is filed under ALL Articles, Investment. Tags: , , ,

                    Eric Skicki

                    Parents Helping Their Kids Buy Condos

                    Written by Eric Skicki Friday, September 5th, 2014
                    • HelpingKidsBuyCondos

                      Will parent-investors become the new type of condo investors?

                      Over the past year, we have seen more and more parents buying condos for their kids to enjoy in the future. The most common purchase is a pre-construction one bedroom/ one bedroom plus den condo, which typically goes for about $270,000-290,000 depending on the size, floor and layout.

                      What makes the parent investor different from your traditional condo investor, is that they are in it for the long term. Typically this means anywhere from 5-10 years.

                      When the parents initially purchase these pre-construction condos, the kids are sometimes as young as 14-16 years. Once the pre-construction condos are ready, parents hope to rent them out for a few years and have their kids move in once they have finished school and land a good job.

                      If the parents, for whatever reason, decide that the kids should not move in, then they can continue to rent out the condo (so that it pays itself off), or sell it for an anticipated profit. Parents see this as a “win-win” situation.

                       

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                      • This entry was posted on Friday, September 5th, 2014 and is filed under ALL Articles, Articles for Buyers, Investment. Tags: , , , ,

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