How ya gonna keep ’em down on the farm After they’ve seen … King Blue?

The dream of owning a four-bedroom house in the suburbs with a white picket fence and two cars in the driveway could be a thing of the past. Today, young professionals, known as Echo Boomers or Millennials, are moving to urban centers in droves, trading the long commutes and home maintenance inherent in suburban/rural life for the excitement and convenience of city living.

This is a trend occurring around the world. The Organization for Economic Cooperation and Development think tank reports city living is on the rise internationally, with 86 percent of the developed world’s population expected to live in urban areas by 2050, up from 77 percent in 2010.

In the United States, 51 of the largest cities are currently experiencing more growth within the city limits than in their surrounding suburbs, according to the Brookings Institution.

The American Institute of Architects’ 2013 Home Design Trends Survey indicates a growing demand for urban-based, mixed-use developments in pedestrian-friendly environments that combine residential, commercial, entertainment and cultural centers with access to mass transit. The survey showed that consumers’ preference for living in these mixed-used, walkable developments rose from 45 percent in 2012 to 58 percent in 2013.

This urban migration is already occurring in cities such as Cleveland, Ohio, where the once-blighted East Fourth Street area has been developed into a vibrant, mixed-used community with housing, restaurants, shopping and entertainment. The city’s downtown population, which had dropped by a third since 1950, is now the highest it has been in over 60 years, according to a report in The Atlantic Cities. The journal, which monitors trends in cities, says Cleveland currently has about 12,000 people living in the downtown’s two square miles, with a 95 percent occupancy rate and new projects in the works.

St. Louis has also experienced dramatic growth. According to a report in the St. Louis Beacon, the U.S. Census shows the population in the concentrated downtown core area grew more than 300 percent, from 806 people in 2000 to 3,721 people in 2010. The Partnership for Downtown St. Louis estimates an additional 500 new residents have moved downtown every year for the past five years, with many living in old warehouses and industrial buildings that are being converted to residences. A host of new restaurants, supermarkets, movie theaters, retail stores and commercial offices have opened to serve the new population, all within walking distance of the downtown ballpark.

But the growth in these and other U.S. cities pales in comparison to Toronto, Canada, the epicenter of this trend. The population of what is now the fourth largest city in North America increased by 16.2 percent between 2006 and 2011, surpassing suburban growth for the first time in decades, according to the Toronto Globe and Mail.

Toronto leads the way in new construction of high-rise residences with 132 reported in 2012, versus 86 in New York City, 17 in Chicago, and 16 in Miami, according to a report by the Canadian Broadcasting Corporation. The city has 53,000 individual condominium units scheduled for completion over the next 18 months, with 95 percent of these units already sold during pre-construction sales.

But unlike the condo boom of the early 1980s, these residences are likely to be part of an urban-chic complex that more closely resembles a resort than a typical apartment building. One of the most notable is King Blue Condominiums in the heart of Toronto’s downtown entertainment district. The project was conceived and is being developed by Steve Gupta, president and CEO of the Easton’s Group, which owns and manages more than 15 hotels throughout Ontario and Quebec.

Each of the towers has a spectacular lobby with modern design and a wide linear fireplace.

King Blue Condominiums includes two towers – one 44 floors, one 48 floors – that, combined, will encompass over 800 residential units, as well as over 10,000 sq. ft. of retail space at street level, and the Theater Museum of Canada on the second level.

The complex is located at King Street West and Blue Jays Way, an area Gupta refers to as “centre ice” in Toronto’s downtown. It’s a stone’s throw from theaters and performing arts facilities, the Rogers Centre baseball stadium, Air Canada Centre hockey arena, CN Tower, Union Station, subway stations and the city’s restaurant row.

“Young professionals want to live downtown today,” says Gupta. “With technology, they are working harder, sometimes 10 to 12 hours a day. They don’t want to tack on three hours of commuting time to that. Plus they want to be able to conveniently enjoy the amenities the city has to offer.”

But it’s the amenities within the King Blue Condominiums buildings that may be most compelling. The facility will feature large, state-of-the-art fitness centers, a yoga room, indoor and outdoor swimming pools, a theater/media room, and a party room with gourmet kitchen and dining areas that may be reserved by residents for private parties. Each tower will have its own hotel-like lobby with modern linear fireplaces, and will share an off-street courtyard serving as a sheltered pick-up and drop-off area.

An 8,000-plus sq. ft. rooftop terrace in the south tower and a 3,000 sq. ft. rooftop terrace in the north tower, called the most spectacular in the city, can be used by all residents. Between them they will offer decorative water features, deep-seating outdoor furniture, firepits, separate areas for socializing and quiet relaxation, luxurious plantings, and a rooftop bar that’s open to the public.  

 “We brought our hotel experience into the design,” Gupta says. “We wanted to create a resort atmosphere, a sanctuary in condo living. These marvelous common areas are places for residents to gather socially and enjoy a resort lifestyle.”

The King Blue Condominium project was conceived and is being developed by Steve Gupta, president and CEO of the Easton’s Group, here with his daughter Reetu Gupta, vice president of Sales, Marketing and Strategic Development.

A collection of retail stores on the complex’s street level is designed to further enhance the residents’ experience at King Blue Condominiums. Reetu Gupta, vice president Sales, Marketing and Strategic Development for the Easton’s Group and daughter of Steve Gupta, is charged with developing this retail component. (Another daughter, Shelley Gupta, is executive director of Finance for the Easton’s Group operation.)

Reetu Gupta is looking to divide the 10,000 sq. ft. of ground-floor space into 15 to 20 separate businesses. “We are pursuing a mix of retail establishments with an urban-chic vibe that will satisfy the everyday needs of the residents, and serve as a shopping destination for visitors to the area,” says Reetu Gupta. “Examples might be a 24-hour gourmet deli, a healthy grocery store, and a gift shop.”

Perhaps these fabulous features help explain why 80 percent of the development’s first tower has already been sold, given construction does not begin until the end of this year, and condo owners will not be able to move in until the projected completion in late 2017. Prices range from $200,199 for studio units to $1.2 million for the largest three-bedroom units with wrap-around terraces. Residents will pay 53 cents per sq. ft. in monthly condo association fees, about the industry average, according to Gupta.

“For as little as $200,000 you can have all these amenities and the advantages of living in the city,” says Gupta. “It’s a great investment. Real estate will always increase in value and our prices in Toronto are lower than in most major cities in the world.”

According to Gupta, condominium prices average $750 per sq. ft. in Toronto, compared with $1,200 - $1,800 per sq. ft. in Los Angeles, New York or London, for example.

This February, Gupta launched a brand-new condo project, Dundas Square Gardens, in Toronto’s “Yonge and Dundas” area, a vibrant public square with a hip and eclectic commercial district and urban parks. Prices will start at $199,998 in that building.

One thing former suburbanites relocating to the city will have to get used to: much smaller living quarters. According to a report by Urbanation, in 2012, 63 percent of all condos in Toronto consisted of studio or one-bedroom units with an average size of 822 sq. ft. By 2014, 67 percent of the units were studios or one-bedrooms with an average size of 695 sq. ft.

Floor to ceiling glass provides a spectacular view of the city in this rendering of a suite in King Blue Condominiums.

King Blue Condominiums range in size from 300 to 1,300 sq. ft., with just 10 percent of the total units consisting of large, three-bedroom condos.

Top-of-the-line appliance packages and a number of other premium upgrades are offered at King Blue Condominiums; however, the small size of the units does somewhat limit the amenities available for condo interiors, precluding options that would commonly be found in luxury freestanding homes.

For instance, individual fireplaces are not offered because, “they would sacrifice six to seven feet of wall space,” according to Gupta. Likewise, outdoor kitchens are not offered as an option on the compact terrace balconies.

“We do provide a plug on the balcony,” he says, “but it would be up to the individual owner to present a request for a grill or outdoor kitchen to the condo association.”

Some Toronto city planners have expressed concern that the city will face an eventual oversupply of “micro-units,” and fear this will limit downtown diversity by attracting only young professionals. But based on the emerging demographic at King Blue Condominiums, this apprehension may be unfounded.

“We originally anticipated the target audience would be young professionals in their 20s and 30s who would want to live and work in the area,” notes Gupta. “But we are finding that many buyers in their 40s and 50s are interested as well.”  

While some of these more mature buyers have purchased units as an investment, others plan to use them as a primary residence or even a weekend property. A downtown condo is appealing to active-adult empty-nesters looking forward to enjoying the culture and entertainment of the city without the maintenance and upkeep of a suburban home or vacation cabin or cottage.

With the number of sophisticated, luxurious and amenity-packed urban living environments such as King Blue Condominiums increasing in Toronto, there is little doubt the urbanization of this area, as well as other areas of North America, will continue. This trend could potentially have a significant impact on the hearth, patio and barbecue industries, and manufacturers and dealers would be wise to keep it on their radar.

The party room with a gourmet kitchen may be reserved by residents for private parties.