National Post By Suzanne Wintrob
If you’re tired of heading back to the ’burbs after taking in a play or a meal, developers are hoping you’ll make the Entertainment District your next permanent address.
“That particular neighbourhood is undergoing a bit of a shift,” says Niall Haggart, executive vice-president of The Daniels Corp., which is behind Festival Tower and the new Cinema Tower under construction next door. “When we first started in that neighbourhood, it might have been a target audience that was a little more youthful and hip. We sold to an audience that had a connection to the film festival and we tapped into that. Now we’re finding there’s a whole host of people in the buy-down market. Their kids are gone, they want to get rid of their larger home, they really love the condominium lifestyle and they want to be in this area because of what it has to offer, the hustle and bustle of the city. It’s a very different vibe than, say, Yorkville, which still has a certain characteristic to it.”
According to Urbanation, the fourth quarter of 2011 saw 13 projects with 5,377 units under construction in the Entertainment District, 10 projects (3,529 units) under construction and marketing, and another 18 applications (7,011 units) proposed. The numbers of projects is slightly up compared to the end of 2010 though the 2011 projects boast substantially more units. Under-construction projects grew by 34% (1,350 units) annually while applications grew by 21% and 1,209 units year-over-year.
Besides the influx of full-time residents, the residential construction will also add a new lineup of stores, restaurants and services that will add tremendous value to the ’hood.
“When all of the development is completed — though I don’t think it will ever be fully completed because it’s an ongoing thing — the good thing is our streets will be aligned with a lot of great at-grade retail opportunity, which for us is huge about that sort of pedestrian experience, that experience on the street,” says Janice Solomon, executive director of the Entertainment District BIA. “What do the local businesses and residents and visitors to the area feel when they come into this area? We’d really like to see a lot of vibrancy, a lot of retail, a lot of activity on the street. The vision for the John Street Cultural Corridor is the best of all of it.”
A quick walk through the neighbourhood reveals there are plenty of places to put down your hat. Turn the page for a sampling of what’s available.
Bisha Hotel and Residences
A 41-storey boutique hotel and condominium with 337 condo suites and 100 hotel rooms Location 56 Blue Jays Way, south of King Street West Builder Lifetime Developments and INK Entertainment Suite Availability 90% sold. From $302,900 for 389 sq. ft. to $754,900 for 944 sq. ft. Hot tickets Two bars, two restaurants, a 24-hour café, 7,000-sq.-ft. rooftop patio and infinity pool, fitness centre, high-end salon. Status Construction starting early spring Occupancy Spring 2014
The Bond
A 41-storey translucent glass and steel tower with 369 suites Builder Lifetime Developments Location Adelaide and John streets Suite Availability 75% sold. From 327 to 1, 170 sq. ft. and $261,900 to $929,900 for 1170 sq. ft. with 572 sq. ft. terrace Hot tickets Seventh-floor urban retreat with residents’ lounge, billiards room, golf simulation and video games room, and his-and-hers private saunas. Eighth-floor fitness retreat with sun lounge and juice bar Status Pre-construction Occupancy Fall 2015
Charlie Condos
A 36-storey, 278-unit contemporary tower with expansive windows grounded by classic heritage brick at street level to fit in with its historic surroundings Builder Great Gulf Homes Location King and Charlotte streets Suite Availability 97% sold. From 749 to 1,775 sq. ft. and $470,000 to more than $1-million. Hot Tickets “The Zone” has fitness rooms, a yoga studio and co-ed steam room Status Under construction Occupancy Fall 2012
Cinema Tower
A 43-storey, 444-suite tower next to the TIFF Bell Lightbox Builder The Daniels Location Adelaide and Widmer streets Suite Availability 75% sold. From 420 to 1,500 sq. ft. and priced from the mid-$300,000s Hot tickets Some “combo suites” can expand to three-bedroom-plus-study layouts to accommodate larger families Status Under construction Occupancy Fall 2013
Fabrik Condos
16 Floors, 169 suites Builder Menkes Developments Location Richmond Street and Spadina Avenue Suite Availability 424 to 1,388 sq. ft. starting from the mid-$200,000s Hot tickets Green roof system with storm water management to reduce the urban heat island effect, on-site car sharing program Status Registration phase Occupancy July 2015
King Charlotte
32 storeys, 232 units Builder Lamb Development and Niche Development Location Charlotte Street Suite Availability 70% sold. From 642 to 962 sq. ft. and $395,000 to $579,900 Hot tickets Architecture is based on a series of different-sized boxes stacked one on top of the other in intriguing ways Status Starting construction in May 2012 Occupancy January 2014
Living Shangri-La Toronto
A 66-storey glass tower housing a 202-room hotel, 287 one- and two- bedroom residences and 107 private estates. Builder Westbank Corp. & Peterson Group Location University Avenue and Adelaide Street Suite Availability 80% sold. Residences from 1,537 to 1,822 sq. ft. and $1.7- to $2.4-million; Private Estates from 836 to 3,306 sq. ft. and $993,500 to $5.6-million; a $7.5-million Signature suite at 4,431 sq. ft.; and Penthouse suites from 3,300 to 3,500 sq. ft. for $9.3-million. Hot tickets Private estate on floors 50 to 66 have two-car private garages, automated blinds and TV embedded in the master ensuite’s mirror Status Under construction Occupancy 2012
The Mercer
A 35-storey, 412-unit tower of layered brick, stone and glass Builder Graywood Developments and Beaverhall Homes Location John and King streets Suite Availability 75% sold. From 363 to 1,133 sq. ft. and low $300,000s to more than $1-million Hot tickets 10,000-sq.-ft rooftop terrace, Scandinavian-inspired sauna and spa area Status Open for sales Occupancy 2014
Peter Street Condominiums
Dramatic 40-storey Peter Clewes-designed glass building with 429 suites Builder CentreCourt Developments Location Peter and Adelaide streets Suite Availability 95% sold. From 303 to 772 sq. ft. for mid $200,000s to $500,000s Hot tickets 24/7 concierge, Totum LifeSciences gym, eco features Status Under construction Occupancy December 2014
Picasso on Richmond
A 35-storey, 373-suite building designed as a vertical landscape of cubist forms Builder Monarch Location Richmond and John streets Suite Availability 75% sold. From 456 to 935 sq. ft. and $312,990 to more than $800,000 Hot Tickets Gardens on every 10th floor, with vibrant red accents on interior and exterior Status Actively selling Occupancy December 2016
The Pinnacle on Adelaide
A 43-storey building with 564 units. Builder Pinnacle International Location John and Adelaide streets Suite Availability Over 75% sold. 594 to 1047 sq. ft. and $339,900 to $659,900 Hot ticket Located at the forefront of the John Street corridor project Status Under construction Occupancy Fall 2013
Ritz-Carlton Hotel and Residences
A 52-storey hotel with 159 residences Builder Graywood Development Location Wellington Street Suite Availability 90% sold. Newly available: a 6,000-sq.-ft. sub-penthouse for $9.6-million and a 1,575-sq.-ft. one-bedroom-plus-library on the 32nd floor for $1.6-million. Hot tickets AAA Four Diamond award-winning chef Tom Brodi runs Toca bar and restaurant Status Now occupying Occupancy Spring 2012
Studio 2
A 41-storey, 422-unit stacked rhombus glass tower Builder Aspen Ridge Homes Location Duncan and Richmond streets Suite Availability 68% sold. From 495 to 1,275 sq. ft. and low $300,000s to $954,990 Hot tickets Aqua lounge, winter lounge, media room, yoga space Status Actively selling Occupancy Late 2014
Tableau Condominium
A 36-storey, 415-unit building Builder Urban Capital, Malibu Investment and Alit Location Richmond and Peter streets Suite Availability 95% sold. From 590 to 1,036 sq. ft. and $375,900 to $679,900 Hot tickets The building’s table structure creates a large, four-storey colonnaded public plaza on Richmond Street Status Under construction Occupancy Summer 2014
Theatre Park
A 47-storey, 234-suite glass tower situated across from Roy Thomson Hall Builder Lamb Development Corp. and Niche Development Location On King Street West’s Theatre Row Suite Availability 80% sold. From 530 to 2,480 sq. ft. and $418,900 to $2.3-million Hot tickets Exposed concrete ceilings, 10-ft. ceilings in penthouses Status Under construction Occupancy July 2013
300 Front West
A 49-storey, 683-unit building Builder Tridel Location Front and John streets Suite Availability 95% sold. From 540 to 1,927 sq. ft. and $350,000 to $1.59-million Hot tickets Rooftop infinity pool, suites designed using environmentally preferable materials Status Under construction Occupancy Summer 2012
210 Simcoe
A 25-storey New York-inspired building with 294 units Builder Sorbara Development Group Location 210 Simcoe St. at Queen and University Suite Availability 84% sold. Suites range from 481 sq. ft. to 754 sq. ft. (plus terraces) for $353,900 to $460,900. Hot tickets High-design lobby, art gallery, his/hers steam room, meeting/event rooms Status Construction starts April 2012 Occupancy July, 2015
Maziar Moini, Broker of Record - Home Leader Realty Inc.
300 Richmond St. W., #300, Toronto, ON M5V-1X2
