It's that time of year again when we take a look forward, with predictions, and backwards to the hits and misses of the previous year. There were roughly 60 condominium launches in 2018 and we’ve combed through the list to deliver to you, the reader, The 10 Best Condo Projects That Launched In 2018. Now, you might be wondering how we determined which pre-construction condos made the list and here is how. These projects will occupy prime locations, have showcased attractive sold price per square foot, or they simply sold out in record time because the demand for these kinds of products is just so high.
2018 was full of opportunities for condo investors to get into the market and they sure did, with a number of them investing in premium condos in Downtown Toronto, North York and Pickering to name a few. Here’s the rundown of the top projects of 2018!
With one of the most central locations on the list, Encore Theatre District comes in at number 1. This tower is located on the southwest corner of Adelaide Street West and Widmer Street, just a few steps away from the Canadian Walk of Fame in the Entertainment District. The tower is being developed by Plaza alongside its sister tower, Theatre District Condos. This will be a snazzy mixed-use development with the first 23 floors being allocated to hotel use, while the remaining 26 floors will be exclusively residential suites.
Density in the Entertainment District is at an all-time high so we understand that it is hard to imagine that the area has grown from a mere 750 residents in 1996 to over 25,000 in 2017. Today’s savvy investors know that the area’s population is expected to double by 2022 and that the number of jobs in the district will increase from 85,000 jobs in 2017, to over 100,000 before the year 2022. Not to mention, 60% of the area’s population are renters and rent for the past 10 years has appreciated at 4.7%.
Now that you know all this, are you going to pass on the chance to invest in the Entertainment District? Seeing as though the 1st tower sold out, many investors didn’t pass on the chance to own in a thriving neighbourhood in the middle of it all.
Keeping with the trend of mixed-use developments, YSL Condos at the southeast corner of Yonge and Gerrard Street East is second-in-line on our list. Steps from the heart of downtown Toronto, this project has a distinctly urban vibe with plenty of space for upscale retail and dazzling views of the downtown skyline. In other words, this development is the epitome of location, location, location.
Cresford Developments launched YSL Condos in October as a striking 85 storey tower set to be among the tallest buildings in Canada. It’s slender design, with a selection of iconic heritage storefronts may be appealing to the eye but for investors and those setting down roots at this project, there’s more to it than what meets the eye. This pre-construction project is set to occupy a site right beside Ryerson University which is why YSL makes a great home base for students, faculty and alumni. Ryerson is Canada’s leader in innovation, career-focused education and is continuously expanding the limits of its campus, however, when compared to top ranking Universities in Toronto, Ryerson has the smallest campus housing inventory. While the University of Toronto can comfortably accommodate 10.8% of their students, Ryerson can only house 3.1%. Students who are unable to find a place on-campus must find off-campus housing nearby.
Additionally, high-density employment districts like The Bay Street Corridor, Hospital Row and The Financial District are quite close as well. YSL Condos is the dream investment that became a reality for those who were able to nail down a unit before the project completely sold out.
This new condo community will be situated near Toronto’s Waterfront which is enough for anyone who enjoys a majestic view to invest-- but there’s a lot more to know and love about this project. Sugar Wharf Condos by Menkes Developments is a comprehensive neighbourhood transformation set to add significant retail, office, residential and park space to this growing East Waterfront neighbourhood.
The ambitious development will also eventually house LCBO’s head office, an LCBO warehouse- which currently occupies the site and an LCBO retail store. The first tower in the development will reach 80 storeys, high enough to provide dazzling views of the downtown skyline and Lake Ontario. A full range of lifestyle amenities and a wide selection of unit layouts are offered here as it will make a fantastic place to call home for families, students and executives on the go. And speaking of execs on the go, the PATH connection proposed for this site will be extremely valuable in providing an underground connection with the downtown core and Union Station.
If we take a look at the bigger picture, Toronto’s Waterfront is the largest parcel of underutilized land in North America but this is changing. A major government development plan will create 40,000 residences and 40,000 jobs on the shores of Lake Ontario from the Humber Bay to the Eastern Beaches, with the most exciting developments over the next decade happening on the East Waterfront.
A short drive from the idyllic Frenchman’s Bay will be Universal City Condos in Pickering. We saw these suites present a great opportunity to invest in one of the provinces major growth areas while enjoying all the convenience of modern living, and just like that, they sold-out in record time. 1474 Bayly Street is just minutes from Highway 401, the Pickering GO Station and the area’s prime shopping centre. Similar to Chestnut Hill’s previous developments, Universal City will without a doubt stand out in this urbanizing city where the population will grow by 100K in the next 10 year. This project will set the stage for the areas impending expansions and revitalizations.
On the tail of this development’s first and second tower is a brand new tourist destination, Durham Live. The proposal is set to rezone over 1 million square feet of land at the northwest corner of Church and Bayly Street. This exciting locale will house a broad range of entertainment, recreational, cultural, and commercial attractions with the capacity to contribute approximately 10,000 jobs, $1.3 billion in incremental annual GDP and over $625 million in annual tax revenue. Based on the size and scale of the planned casino, host payments to Pickering are expected to be $20 million or more per year upon completion-- making this tourist hub a highly remunerative one for the city. Interested in buying here? The second tower in the Universal City Condos master-planned community is selling now. Register here to get access.
Graywood Development and Alterra’s loft conversion of the old Weston Bakery was a popular one when it launched and the anticipation for its completion is growing. The building will feature a combination of one-of-a-kind lofts, chic condos and towns as a project that complements the surrounding Leslieville architecture.
This district is one of the city’s most cherished neighbourhoods, providing easy access to downtown, the waterfront and a wealth of local eating and shopping options. Popular with families and professionals alike, it’s been called the “brunch capital” of Toronto and who doesn’t enjoy the brunch-life?
The site is set to sit on the north side of Eastern Avenue, between Logan and Booth Avenues which is steps from the West Don Lands community. This 80-acre neighbourhood will be stunning, family friendly, and environmentally sustainable as 6,000 new residences begin to occupy the area. Not to mention, an 82,000 sq. ft YMCA recreation facility is to be built in the heart of the district.
Immediately west of Wonder Condos is the 60-acre East Harbour Community in conjunction with the East Waterfront neighbourhood. This district will be a vital new employment and commercial quarter where residents will be able to take advantage of a new transit hub that will feature both local and regional transit connections including Regional Express Rail, Smart Track, Broadview LRT, Queen’s Quay LRT and the Relief Line LRT.
The Waterfront Innovation Centre has also been proposed for the district as it will remodel how tech and media companies work together. The jobs here will bring renters looking to live, work, and play all in their hood-- so if you’re an investor looking for a community that supports higher rents, this locale and the surrounding area should be at the top of your list.
There’s a lot of changes happening in this pocket of the city and the numbers are encouraging too. The average rent in the East Waterfront is $2,800/month with an average appreciation rate of 5.8%.
The Logan Residences will occupy a space at 899 Queen Street East, mid-block between Logan and Morse Street with retail space on the ground level. Just outside the doors of the grand lobby is the 24-hour streetcar stop which will take commuters across the entire city. The building also offers suites ranging up to 3 bedrooms plus a den which is ideal for large families looking to set down roots in the city.
Renting in Leslieville is on the higher side compared to other parts of the city, yet units here sold at a quite affordable average of $957 per sq.ft. According to the rental website, Zumper, the median rent for a condo in Leslieville is $2,300 while the median rent for a 2 bedroom condo is $2,750, so you can only imagine the return! And, Daniels is one of a handful of developers who are known to accept deposits of just 10% down. It’s no wonder why The Logan Residence sold so well.
This neighbourhood stands on the eastern side of Downtown Toronto, but for decades it had been left in disrepair. This all changed when the city worked together with the Daniels Corporation to transform the neighbourhood into a new dynamic district, complete with the best community facilities in the GTA.
Artworks Tower is a massive mixed-use development will feature two-towers that will rise out of a single 4-storey podium. The western tower is shorter out of the two as it stands at 11 storeys while the eastern tower will rise to 32 storeys tall. Not only is there a focus on increasing residential density and community engagement in the neighbourhood, but this project is also going to bring a lot of new retail options. There will be several commercial retail units on the ground floor facing Dundas Street, as well as an anchor tenant that will have a ground floor entrance and 14,830 square feet of floor space on the second floor.
Again, Daniels amazed investors with affordable units, however, this time they included accessibility-designed suites that featured roll-in showers, roll-out balconies, and much more at no additional cost. And let's not forget the Daniels 10% down option for buyers which highly contributed to the quick sold out status linked to the project.
This Fashion District condominium will occupy almost an entire block on King Street between Portland Street and Spadina Avenue. It includes the current buildings ranging from 485 to 539 King Street West-- three of which are heritage buildings that will be restored and incorporated into this unique 2.34-acre project.
Marketing for King Toronto Condos really kicked off when Allied and Westbank revealed that the project will be designed by the award-winning, Danish architectural firm, Bjarke Ingels Group (BIG). The mastermind firm is behind the internationally travelling art installation called the Serpentine Pavilion that currently resides at the future site of King Toronto.
After a few hush, hush investor events held at the stunning pavilion, sales for this massive project got off to a healthy start. The average sold price for these suites sat at $1,430 per sq.ft by the end of 2018. We predict that most buyers will live here or keep this property as a pied-à-terre because King Toronto is all about lifestyle and an indulgent one at that. The architecture here will be top of the line and unlike any other residential building in Canada.
One of the most anticipated features for this development is the inner courtyard, which will span over 21,000 sq. ft. This diverse and lively zone for living and shopping will offer new retail, workspace, and cultural offerings. Year-round destinations will feature restaurants and cafes, one-of-a-kind shops and services, street celebrations as well as craft & farmers markets. A professionally landscaped hemlock forest will provide residents and visitors with a naturalized setting, while an urban court will feature outdoor seating, ground-floor retail and commercial space. A 1,345 sq. ft “secret garden” will also be designed on the southeastern corner of the site behind one of the restored heritage buildings.
This new community will do so much more than just add density to the area, King's Landing will create a new thriving neighbourhood that’s connected to shopping, employment, transit, and much more. It aims to create a fully equipped and walkable enclave that’s sure to be one of the most coveted areas in North York and that is precisely why the first tower is completely sold out.
It’s headed to a site directly across from Bessarion Station on Line 4 Sheppard, which has among the slowest traffic in the city, Concord Park Place will change all that. Buyers here saw the first building in the master-plan as a tremendous opportunity to get involved in a neighbourhood that’s on the precipice of monumental growth.
Here are the stats: 18 buildings, 60,000 sq. ft of commercial space, steps to Bessarion subway station and minutes to highway 401. Not to mention, Bessarion subway station sits in the centre of Line 4 which connects riders to the North York Centre station. This centre is one of the most important employment hubs in the GTA. At 40,050 jobs in 2017, it’s the second largest job centre in the city, only behind the downtown core.
It’s not too late to invest in this growing master-planned community. The second tower is set to launch this Spring so register here to get platinum access!
It’s no secret that when transit is at your doorstep your property value and demand goes up. Line 5 Condos will be connected to everything at every turn. The development will, of course, be next to the new Eglinton Crosstown LRT but also be just steps to the Eglinton subway station. When Line 5 of the Eglinton LRT is completed, riders will be able to go right into Toronto Pearson International Airport in less than 35 mins or the downtown core in less than 15 minutes.
Reserve Properties and Westdale Properties respond directly to the fundamental changes in the way Torontonians live their lives as it includes innovative amenities such as a social-club that acts as co-working space during the day, a tuck-shop café in the lobby and a dedicated lane for ride-sharing apps like Uber and Lyft-- making this preconstruction condo project ideal for a variety of lifestyles. On the down-side, Line 5 is completely sold out but on the bright side, if you missed out, your second and last chance to invest in Line 5 is coming this Spring. Line 5 South Condos will rise 33 storeys at the same intersection you know and love-- Broadway Avenue and Mount Pleasant Road.
Yonge and Eglinton is at the heart of the city, and according to a 2017 survey performed by Toronto Life, it's the highest ranked neighbourhood community in the GTA. This rating is based on crime rate, health, employment, entertainment and people.