When a developer gained clearance to redevelop a parking garage with two towers at 181 Bedford Rd., they opted to forgo the second tower for something different.
The Annex Yorkville Connection by Metropia and Diamond Corp.
THE PROJECT: Annex Yorkville Connection
DEVELOPERS: Metropia and Diamond Corp.
SIZE: 531 to 2,287 square feet
PRICE: $400,000 to over $2-million
The three-storey townhomes will have 300 square-foot rooftop terraces.
The tight dimensions of many infill sites in downtown Toronto often limit projects to tall towers with a few townhouses, if any at all.
But when Metropia and Diamond Corp. gained clearance to redevelop a parking garage with two towers at 181 Bedford Rd., they opted to construct a single high-rise with 245 suites and a courtyard flanked by over three dozen townhouses with three or four floors and private garages.
“We essentially eliminated a second tower … and replaced it with 39 townhomes, and that’s unprecedented in Toronto real estate,” Metropia chairman and chief executive Howard Sokolowski says.
“You’d have to go somewhere north – certainly north of Lawrence or into Thornhill, Ajax or Oakville – where you’d find many examples of that, but you won’t find 39 townhomes in a brand-new development in central Toronto. So we found that very exciting.”
Furthermore, these three-bedroom townhouses will secure prime outdoor space. “We have a 300-square-foot rooftop terrace on all the units, and on the courtyards, we even have phenomenal views facing south to the CN Tower and the city,” says Lee Koutsaris, who is Metropia’s director of project management, sales and marketing.
“And what’s really special about [the courtyard collection] is … you have an outdoor rooftop amenity, but you also get a patio at grade and a little private garden area with exclusive use to the individual townhomes. So they get a lot of extra outdoor space in the courtyard collection.”
Nine townhomes will be incorporated into the 27-storey tower.
Nine townhouse-style units will also be integrated into the modern 27-storey tower anchoring the complex, called Annex Yorkville Connection. “The project is really one location with two projects,” Mr. Sokolowski says.
“We’ve launched mid-October and we’re 85-per-cent sold out on the condo tower and 65- to 70-per-cent sold out on the townhomes.”
Remaining townhouses are priced between $1.8-million and over $2-million, while one- to three-bedroom suites in the glass, steel and concrete tower range from $400,000 to over $2-million.
“Some of our fastest-selling units were two-bedroom units and three-bedroom units,” Ms. Koutsaris notes. “The three-bedroom [models] are about 20 per cent of our product mix, typically, it would be much less than that.”
Thus, different demographics won’t have to forfeit personal spaces to reside within steps of upscale boutiques, galleries and dining establishments in Yorkville and the Annex, as well as two subway lines.
“[Buyers] are potentially people who have a larger home and want to move down, like traditional empty-nesters who want to reduce their square footage somewhat.” Mr. Sokolowski states.
“We’ve also found young couples who do want to live in the area, but don’t want to live in a high-rise environment and want to live in a low-rise environment, but can’t find anything under $2.5-million.”
Monthly fees for tower suites are not set yet, but townhouses will owe $500 to go toward a pet spa, business centre, games area and bar, as well as a second-floor terrace, fitness, media and dining facilities.
Design and decor highlights by Byron Patton and Associates Ltd. will include townhouses with oak staircases, quartz kitchen counters, up to 10-foot ceilings, heated ensuite floors and optional elevators.
Parking for tower suites will cost $70,000. Occupancy will begin July, 2020.
~Courtesy of the Globe and Mail