Parc Novo is a condo development in Etobicoke across from the Kipling Subway Station. Located in a park like setting [designed by the developer] with about 6 other buildings, it is a nice building – completely planned to be built green. A good lot of comforts and services are built in, which will be needed as the surrounding streetscape is weak in comfort once you leave the condos property. Yet quite possibly this condo could bring change to that same streetscape as others rebuild in fill around the development.
The chart above from the developers site details the fees on top and any purchase price and mortgage costs. These costs can serve to illustrate some of the plot build house and condo home ownership differences in cost and responsibility. Condo ownership provides a clean one off monthly fee to maintain the building – in effect the all the nasty repairs are handled by someone else, with a watching board to ensure it’s done right. But in a standalone house taxes – (approx 2400.00 in an average Junction house and more in the Parc Novo area) and the repair costs and the choice/worry of how to do them are all left to the homeowner. We looked for the maintenance costs for Triumphal Developments Inc Victoria Lofts on Annette Street, but could not find them on the developers site.