This is really cool!
There’s only one building in the city of Toronto that has an LED display screen in the elevator in place of traditional buttons…
The board of directors at 38 Elm Street had a problem: “How do we compete with all the flashy new condos that are being built in the downtown core?”
As a 22-year-old building, 38 Elm Street isn’t actually that old. But in today’s real estate market, it seems people want a 2-year-old condo, that is, if they can’t get into a 1-year-old condo…
So the folks at 38 Elm Street decided to use some money from their massive reserve fund, and spend some of the nearly $500K that they won in a lawsuit (spend away – it’s free money!) to upgrade and modernize the building.
I think the results are fantastic.
And might I add – I don’t have a listing in this building, so there’s no hidden motive on my part here.
I just like sharing great real estate stories.
The LED display in the elevator is one-of-a-kind, and perhaps we’ll look back at this as a turning point in elevator technology. Check out the homepage HERE if you want more info.
And they spent a whopping $325,000 on a state-of-the-art fitness centre, that has better equipment than many GoodLife’s out there.
There can be a tremendous amount of value in older buildings, if they’re upgraded sufficiently.
I’ll follow up next week with some pics of the unreal amenities!