Condominiums continue to be hot sellers in Toronto. While the market for single family homes show signs of cooling, the condo market continues to be relatively strong – particular when it comes to luxury condos. In Toronto, condo units priced between $2 million and $4 million saw a 12% gain in the number of sales in 2018, according to the latest data from the Toronto Real Estate Board (TREB). This means that condos continue to be a good investment – either as a primary residence or rental property.
And the condo market promises to remain red hot in 2019 with a number of new and exciting developments coming online throughout the city. Whether you want to live downtown among the hustle and bustle or further out close to greenspaces, there is a new condo development to suit your needs and tastes, as well as your budget. Price ranges for condos vary, making them affordable on any salary. Here are five upcoming developments you should know about:
875 Queen East Condos
Address: 875 Queen Street East
Price: from $700,000
If you’re looking for a trendy downtown condo, then be sure to check out the development at 875 Queen Street. Not only is this seven storey residence situated in the heart of the city, it overlooks vibrant Queen Street East which is always bustling with activity and in the centre of the action. The development features urban, loft-inspired boutique condominiums available with either one or two bedrooms. The sizes of the condos range from 715 square feet to more than 1,100 square feet. And each unit comes with one parking space. Penthouse level suites feature terraces with plenty of space for entertaining. Terraces also come with barbecue gas bibs. Priced in the high $700,000 range.
346 Davenport Road
Address: 346 Davenport Road
Price: over $1 million
For truly high-end luxury, look no further than the condo development at 346 Davenport Road, which opened in January of this year. Located just west of the prestigious Yorkville and of Forest Hill neighbourhoods, this is an elite set of luxury suites. Tennants will enjoy 10-foot high floor to ceiling windows that provide panoramic views of Toronto. Balconies are huge at as much as 3,061 square feet and overlook Yorkville and the Toronto skyline. Two and three bedroom units are available and range from 1,500 – 2,700 square feet of open concept living space. Spa bathrooms are outfitted with natural stone countertops and ceiling mounted rain shower-heads. Note though that this condo development is not for price-conscious consumers. Prices per unit are over $1 million.
7 On The Park Condos
Address: Keele Street and Lawrence Avenue West
Further north in the city is the 7 On The Park Condos, a pre-construction development located at the intersection of Keele Street and Lawrence Avenue West in the North York region. With easy access to transit and only steps from grocery stores, shops and services, including Walmart, this could be an ideal location for a family. Overlooking Amesbury Park, which has 30 acres of greenspace, this development will also have a fully-equipped fitness centre and a multipurpose entertaining facility. Bordering the park is the Amesbury Community Centre and a large sports complex, making 7 on the Park an attractive option for recreation. Two and three bedroom units are available to purchase ranging in size from 672 to 950 square feet. Priced starting in the low $400,000 range.
The Logan Residences
Address: 899 Queen Street East
If high-rises are not your thing, then you may want to consider the low rise luxury condos at the Logan Residences at 899 Queen Street East. Set for occupancy later this year, the Logan Residences is only six storeys high and has just 73 units. The building blends in with the streetscape, which is full of shops and restaurants. Retail space on the ground floor is an added plus. Inside, residents enjoy a gym, meeting rooms and even a dog wash station. There is also 2,000 square feet of outdoor space on the roof that is available to all occupants. One, two and three bedroom units are available in sizes ranging from 611 to 1,161 square feet. Priced in the high $500,000 range.
Avenue 151 Yorkville Condos
Address: 151 Avenue Road
Price: from $800,000
For exclusivity, there is the Avenue 151 Yorkville Condos, which are situated in the heart of the luxurious Yorkville neighbourhood and features boutique units. Set at the corner of Avenue and Davenport Roads in the centre of Toronto, this development contains 72 luxury condominium suites with square footage ranging from 651 to 2,666 sq. ft. High-end details in the building include an airy white and glass façade with gold-hued trim and wrap-around terraces. The entrance features a marble lobby with a fireplace and 24-hour concierge service to welcome residents and guests. High-end kitchens add to the glamourous feeling. Priced in the low $800,000 range.
To learn more about these condominium developments, or any other real estate in the Greater Toronto Area, please contact our office. We’re always happy to meet new clients and provide helpful advice.