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SECTION HSATURDAYFEBRUARY 20, 2010thestar.com

THE REAL DEALThe Village inNiagara-on-the-Lakeis a testament to New Urbanism, H2

HUMIDORWITH HISTORY‘Old Bill’ charactermakes for a greatcollectable, H10

RITA ZEKASSPECIAL TO THE STAR

Who would want to live in the showroom of ahigh-end furniture store? It is too intimidat-ing. That first blob of ketchup on the setteewould be a deal breaker — even if it wereHeinz.

But I could happily move into the Ritz-Carl-ton Residences model suite at Front and Sim-coe Sts.

Hey, I could live in the walk-in closet.How suite it is: The elevator opens up into

your apartment, just like it does in thoseswanky New York digs featured in films likeBonfire of the Vanities.

Alessandro Munge, managing partner inMunge Leung & Associates, the man behindthe set decoration and appointment of themodel suite and sales centre, admits they weregoing for a “New York feel.”

The residences at the Ritz-Carlton will be in a53-storey building housing 159 condo suitesand penthouses. Over 70 per cent of the suitesare sold; the remaining ones go from $1.595million to more than nine million big ones andrange in size from 1,512 to 6,020 square feet.

The model suite is the Monte Carlo, measur-ing 2,000 square feet, less the second bed-room, bathroom and powder room. The actualtwo-bedroom suite starts at $2.985 millionand runs 2,557 square feet.

They are, after all, masters in putting on theRitz so they didn’t skimp on anything. Built-indresser drawers in the hall closets have easy/soft glide drawers with customized hardware— no more getting your drawers stuck be-tween the drawers.

RITZ-CARLTON RESIDENCES

Puttin’ on the Ritz

PHOTOGRAPHY BY AARON HARRIS FOR THE TORONTO STAR

“A little exotic yet comfy,” is how Alessandro Munge — pictured in the rotunda — describes the model suite for the Ritz-Carlton Residences.

Model suite is sophisticated, yet still retains comfy feel

The masterbedroom in themodel suite has adramatic doubleheadboard. Insteadof installing atraditional bedskirt,Alessandro Mungehad the box springupholstered,thereby creating asleeker line. Right,the walk-in closet.

TRACY HANESTORONTO STAR

There’s a certain pride in MarcoFilice’s voice as he describes Liber-ty Developments’ new condo pro-ject in Markham as the “posterchild” for the province’s Places toGrow strategy.

World on Yonge will rise on a four-hectare site in Markham on the eastside of Yonge St. and MeadowviewAve. that currently is home to a 40-year-old strip mall. The master-planned development will replacethe lowrise plaza with four residen-tial towers housing 1,200 condosuites, a 20-storey office buildingand boutique hotel, and three sto-reys of retail stores.

The sea of asphalt that covers 100per cent of the site will be dramat-ically reduced; about 60 per centwill become landscaped space asmost of the parking will go under-ground and a park will be added onMeadowview Ave.

A courtyard will be the focal pointof the development and the build-ings will boast multiple green roofs.

World on Yonge will bring a decid-edly urban vibe to the older sub-urban neighbourhood and accord-

ing to RealNet statistics, is the top-selling condo highrise site in theGTA. Since last fall’s partial releaseof Phase 1 residential suites, 443 of477 sold by Dec. 31.

Phase 1’s two slim 31-storey condotowers will be the first residentialofferings, facing Yonge St. andlinked by a podium. The sales officeis in a corner of the parking lotwhere a Wendy’s restaurant for-merly stood.

More than 90 per cent of Shops onYonge, the retail indoor three-levelmall and more than 70 per cent ofOffice on Yonge, a 21-storey officebuilding, have been sold or leased.Recently launched World Shops, atwo-level office/retail at the base ofthe 31-storey residential offersYonge St. frontage for lease or sale.

The time is right for a project ofthis scale and scope, according toFilice, vice-president for LibertyDevelopments. Growth has beenpushing relentlessly north along

PLACES TO GROW

Takingon theWorldMixed-use developmentin Markham near publictransit, major highways

It will bring a decidedlyurban vibe to the oldersuburban neighbourhood

WORLD continued on H14 RITZ-CARLTON continued on H14

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HOMES & CONDOS

I n 2005, Stuart signed anagreement to purchase a con-dominium unit for $326,900

in an upscale 20-storey project notfar from the Annex area.

He was able to take possession ofhis unit early in 2008 and finalclosing occurred on Aug. 12, 2008.

On Stuart’s closing, as with everyother real estate transaction, theseller’s lawyer prepared what’sknown as a statement of adjust-ments. The statement is used tocalculate the unpaid balance of thepurchase price due on closing. Inaddition, it allocates adjustableitems like tax bills between theparties as of the closing date.

As set out in the purchase agree-ment, the builder adjusted 2008taxes with Stuart (and the other215 owners) on the assumptionthat it would pay all of the taxes forthe year of closing when the billswere issued.

On this basis, the builder would

be responsible for 222 days of tax-es (to Aug. 12), and Stuart would beresponsible for the remaining 143days of the year.

But since the actual 2008 tax billswere unknown at the time of clos-ing, the builder estimated the taxesand adjusted with the purchaserson the assumption that the taxeshad been (or would be) paid.

On the builder’s closing state-ment of adjustments, the 2008 tax-es were estimated at $3,970.

But when the city finally issuedthe 2008 tax bill in January 2010,it came in at only $2,107.92. As a

result, the builder had over-esti-mated the 2008 tax bill by a stag-gering $1,862.08.

Recalculating the tax bill as ofAug. 12, 2008 meant that on clos-ing Stuart had overpaid $720.20for his portion of the year.

If everyone in the building wasovercharged $720 on closing, thewindfall to the builder would beabout $155,500, minus any refundsit had to pay out to those buyerswho were sharp enough to calcu-late and claim the overpayment —or who had their lawyers do it forthem.

But that’s not the end of the over-charge. Prior to final closing, Stu-art was in possession of his unit foralmost six months paying interimoccupancy fees. Those fees includeestimated taxes based on thebuilder’s calculations.

As part of his occupancy fees, Stu-art paid taxes of $330.83 a monthto the builder, according to the

builder’s estimate of $3,970 for theyear. Using the real tax bill of$2,107.92, Stuart should only havepaid $175.66 a month for taxesduring the occupancy period, rath-er than $330.83. He was overpay-ing $155.17 a month.

As a result, Stuart overpaid thebuilder an additional $931 or so ininterim occupancy fees, makinghis total overpayment to the build-er $1,651.

If this amount is a reasonableaverage for all the units in thebuilding, the total amount of tax“overestimates” by the buildercame to around $350,000.

The issue still has not been re-solved.

Stuart may have to file a claimwith his title insurer, the same onerecommended by the builder foruse by all purchasers in the project.

Based on my experience in han-dling transactions like Stuart’s, asmany as half of all condominium

builders use the same method ofoverestimating taxes, while theother half arrange it so there is noovercharge at all.

In general, I have no objection tobuilders charging purchaserswhatever they want for the condo-minium units and for any addition-al closing costs, as long as thecharges are clearly disclosed upfront.

This way, a purchaser can choosewhether or not to pay the costs orwalk away from the deal.

What I find very troubling, how-ever, is builders who take advan-tage of issues like estimated taxesto scoop large amounts from pur-chasers — presumably expectingthat they may not have to accountfor some or all of it. Bob Aaron is a Toronto real estate law-yer and board member of the TarionWarranty Corp. He can be reached atbob@aaron.ca. Visit his website ataaron.ca.

Buyer overpaid builder for estimated taxes

BOB AARON

Yonge and Yonge/Sheppard, justsouth of World on Yonge, is desig-nated as a major regional transitnode.

Markham has been far ahead ofthe Places to Grow curve, curbingsprawl and promoting pedestrian-friendly, mixed-use developmentconnected to transit since the early1990s. The town is currently con-sidering three alternatives for fu-ture growth, ranging from 52 percent to 60 per cent to 100 per centhigh-density to accommodate150,000 new residents through2031. Most of the intensificationwill unfold along Yonge St. andHighway 7.

“The advantages of this particularlocation are that we are able to takeadvantage of established infra-structure,” says Filice. “It achievesmany of the Places to Grow princi-ples, with multiple uses on one site.It provides access to vehicular andpublic transportation and it’s partof an established community.”

The provincial Places to Grow leg-islation calls for intensificationwithin current urban areas, provi-sion of land for employment and in-tensification along corridors basedon transit. By 2015, at least 40 percent of new residential develop-ment must occur within existingurban areas.

Planning for World On Yonge be-gan about five years ago, says Filice,and while “it really helps that thestars were in alignment with thissite” as far as planning policies go,“it just doesn’t satisfy municipal orprovincial goals, it makes goodbusiness sense. It can accommo-date someone who can use transitas opposed to an automobile. At theend of the day, people need a placeto live and it provides a balancewith residential, office, retail.”

The area is served by York RegionTransit’s Viva bus system and theYonge subway is slated to extendnorth; Highways 401 and 407 areminutes away. Filice says the devel-opment can succeed with Viva

transit alone but “the subwaywould be an added bonus.

“And the beauty of this develop-ment is that it is approved andzoned. We had an excellent work-ing relationship with municipaland regional governments and thestakeholders. And we enlisted a lotof consultation with the neighbour-hood,” says Filice.

“It’s a very interesting project andthe town did support it,” says JimBaird, commissioner of develop-ment services for Markham.

The three-storey Shops on Yongeand World on Yonge office building(with retail shops on the groundfloor) will provide half a millionsquare feet of non-residentialspace, while the condos will con-tribute 1 million square feet of resi-

dences. Filice says response so farhas been “overwhelming” withsome would-be retail/commercialspace buyers camping out beforesales opened.

“I think the purchasers realizethere is a true opportunity to bepart of mixed-use development onthe busiest part of Yonge St. andhave access to 1,200 condos,” saysFilice. “There is a huge opportunityhere to live, work and have great ac-cess to local shops.”

“For some people, mixed use waskind of a foreign concept,” saysShawn Richardson, sales and mar-keting manager for Liberty Devel-opments. “It is office or retail or res-idential? That was part of our chal-lenge in really getting the messageout. If someone is interested in re-

tail or office space, it has a broadspectrum: ‘I want to open a busi-ness here, and I can walk across thebridge and end up in my condo.’ Ithas broad appeal to anybody.”

The first two residential condobuildings, designed by Kirkor Ar-chitects & Planners, will not be“your domino cookie-cutter build-ings, they are tilted a little and de-signed intentionally to maximizeviews and light,” says Filice.

Suites will have wraparound bal-conies and nine-foot ceilings andthe two-storey lobby will be flankedby retail shops and services.

The buildings will be constructedto the equivalent of LEED Silverstandard and the condos will belinked by a podium.

“For a development like this of-

fering open space, green roofs, apark, reduced parking and an op-portunity to take transit, the envi-ronmental savings are hard toquantify,” says Filice. “But it has aholistic community approach, usesa lot of environmental planningprinciples and it’s spacious, withplaces for people to walk through.We are trying to make it best it canbe to make it the best it can be forstakeholders.”

“There has been a lot of paradigmshift in planning and people areembracing and appreciating this,”adds Filice “There is a positive re-sponse to what we’ve done. We aretrying to make it a site for genera-tions to come. At the end of the day,it saves land somewhere else fromdevelopment.”

Top seller brings urban vibe to MarkhamWORLD from H1

SARAH DEA FOR THE TORONTO STAR

Liberty Development’s Marco Filice stands before a scale model of World on Yonge, one of the first large,mixed-use developments in Markham. It will include residential condos, office space and a retail mall.

The finest finishes and materialshave been incorporated: flooringranges from woven marble tiles towalnut hardwood laid in a herring-bone pattern in the dining roomfloor. The ceilings are 10 feet high;the doors, eight feet.

There is a TV in the bathroom soyou can keep tabs on the financialmarkets or the housewives fromNew Jersey, and how cool is thetwo-sided gas-burning fireplace be-tween the living room and den?

“It opens up the space and gives ita 3D effect, like a picture frame,” ex-plains Munge.

The kitchen is state-of-the-art:Sub-Zero and Miele built-in appli-ances, Wolf five-burner gas cook-top, and Bellini custom-designedcabinets — which is all fine wineand dandy but probably redundant,given the residents will undoubted-ly be frequenting the hotel’s restau-rants or ordering room service.

The model suite is understatedwithout being boring. They have in-

corporated simple lines with layersof textures and a palette of earthycolours: Calvin Klein meets Arma-ni.

The master bedroom, a study oftaupe and beige, risks being a tadpredictable if not for the dramaticdouble headboard. A standard pad-ded headboard rests in front of acustom-designed one triple its size.

“We wanted to make a big state-ment in the room,” Munge ex-plains, smoothing out the bed-spread.

If God is in the details, He wouldbe in heaven here. Instead of in-stalling a traditional bed skirt,Munge had the box spring uphol-stered, thereby creating a sleekerline. There is texture in the curtains— a silk-blend, beige, pinstripedsheer — and the walls are a basket-weave grain with a silver sheen.

The den has leather on the wallsand its centrepiece is a lamp withchicken feet, which look more likegnarled tree roots.

“It is very organic,” Munge ex-plains. “It is hammered metal that

looks like wood.”The seams in the silver grey and

burgundy seagrass wall covering inthe living room deliberately don’tmatch. It makes the artwork — ev-erything from Harold Town to Pari-sian street scenes — pop, giving anew meaning to “pop art.”

A black leather ottoman serves asa coffee table in the living room andthere is a screen behind the sofajust for the performance art of it.

“The screen anchors the couch,”Munge explains.

“There is only one floor lamp,which casts a great light on thescreen — I like asymmetrical.

“Our mantra is ‘don’t be predict-able in your spaces,’ ” he adds, set-tling onto a bench covered in fauxlizard. Munge scours the globe forunique pieces; he and his staff evenbring in stuff from their ownhomes.

“We will hit 30 to 50 stores,” hesays. “I called on seven or eightshops for the living room carpet.”

In the lobby is a glass-ceiling fix-ture by Jeff Goodman, which looks

like a giant goldfish. Kids visitingthe suite relate to it.

“This suite is not just the 60-year-olds and up,” Munge insists.

“The demographic is sophisticat-ed with a sense of taste. I didn’twant it to feel old. It is not so stodgy,but polished, fresh and worldly — a

little exotic yet comfy. People havesaid ‘I feel I can move in.’ ”

Occupancy is summer 2010. Don’tknow when they are going to strikethe model suite but until then, I amavailable for sleepovers.1 For more information, go towww.theresidencestoronto.com.

AARON HARRIS FOR THE TORONTO STAR

Master touches include the walnut hardwood laid in a herringbone patternin the dining room areas of the Ritz-Carlton model suite.

A sweet suite with a ‘New York feel’RITZ-CARLTON from H1

Development: World on YongeWebsite: www.worldonyonge-.caLocation: Yonge St. and Mead-owview Ave.Developer: Liberty Develop-ment Corp.Interior Design: Hefele Makow-ka Design Associates Inc.Architect: Kirkor Architects &Planners Price range/sizes: Residentialcondo sizes are 430 to 1,355square feet, from studio suitesto three-bedroom penthouses.$189,000 to $660,000Amenities: Fitness centre, me-dia room, billiards, golf simula-tor and guest suites. Retailshops/services on site. Occupancy: Tentative dates forcondos, winter 2013. Offices/shops, spring 2013Development size: Four resi-dential towers (31, 31, 18 and 27storeys), 20-storey office/hotelcomplex and three-storey shop-ping centreSales office: 7171 Yonge St. inMarkham. Call 416-477-7600 orclick on www.worldonyonge.ca

DETAILS