What are the best pre-construction buys in Toronto right now? The pre-construction condo market in Toronto kicked off with a bang this year – we’re seeing some great projects launch, some amazing new releases at some of the top developments in the city, plus some pretty great incentives for one major project downtown.
I’m getting a lot of questions about my top picks, so I decided to do a round-up of where my clients are buying. When picking a good pre-construction investment, you need to look beyond the glitz and glamour that these buildings offer and really crunch the numbers.
This is what I do for all of my clients so I can confidently recommend the best opportunities in the city. Let’s take a look.
The Best of Toronto Pre-Construction – New Project Launches
316 Junction Condos
316 Junction Condos is a brand-new artistic and upscale condominium building coming to the Junction Triangle – one of Toronto’s most diverse and eclectic communities.
This development by Marlin Spring will sit at 316 Campbell Ave near Symington Avenue and Dupont Street in Toronto’s Junction Triangle neighbourhood. Young professionals, families, and students alike will enjoy calling this area home as it is highly connected to everything you need.
Top Reasons to Invest at 316 Junction Condos
In an area with high demand and low supply, this is a unique opportunity to own a piece of an ever-evolving community. Be a part of a diverse Toronto neighbourhood that’s famous for its unique urban edge and eclectic community charm.
Rental Stats:
1-Bedroom: 481 – 747 sqft: $2,255.00 – $2,985.00
2-Bedroom: 683 – 1147 sqft: $3,170.00 – $5,545.00
3-Bedroom: 965 – 1336 sqft: $3,930.00 – $5,930.00
Parking: $175/month
**Statistics per internal research as of Q3 2022. All numbers are approximate and subject to change.
Deposit Structure
- $10,000.00 on signing
- Balance to 2.5% in 30 days
- 2.5% in 120 days
- 2.5% in 180 days
- 2.5% in 240 days
- 2.5% in 450 days
- 2.5% in 540 days
- 5% on Occupancy
With the Junction becoming the new Liberty Village, now is the time to invest early in this growing community. This will allow your investment dollars to grow faster by investing sooner.
Register with us to get pricing and floor plans directly to your inbox here: 316 Junction Condos
Olive Residences
Olive Residences is a new pre-construction condo development by Capital Developments, coming to the Yonge and Finch neighbourhood, at 31 Finch Avenue East & 38 Olive Avenue in North York.
Set amongst the highly sought-after Willowdale neighbourhood, Olive Residences will rise 29 storeys over this thriving cosmopolitan centre. Conveniently situated just steps from the bustling Yonge and Finch intersection, this high-rise condominium will stand out amongst the rest with gleaming exteriors and luxurious interiors.
Residents will enjoy all the benefits this North York community has to offer including immediate access to world-class transit options, impeccable lifestyle amenities, and easy access to Highway 401.
High Rents, Lower Prices
The area commands some of the highest rental rates in Toronto and is up to $500 less per square foot when compared to downtown condos renting for similar prices.
Capital Developments, the builder behind Olive Residences, recently finished a building next door called Azura Condos. The two projects are nearly direct comparables and share many similarities.
So, I ran the rental numbers for Azura to get a sense of cash flow and annual intake. I was actually blown away by the numbers. The average rent in Azura is $4.32 per square foot – which is on par with brand-new condos currently trading in downtown Toronto.
Purchasers who bought at Azura, Olive Residences’ sister building, have seen nearly a 100% return on their investment. Given ever-tightening supply constraints and accelerating population growth, the cost of new builds will continue to rise, and rental rates will maintain quick appreciation across key transit hubs.
Extended Deposit Structure
- $10,000 on Signing
- Balance to 5% in 30 Days
- 5% in 120 Days
- 2.5% in 380 Days
- 2.5% in 540 Days
- 5% on Occupancy
With the incredible projections we’re looking at for the area of Olive Residences, this is a major opportunity to purchase at a low price per square foot in a neighbourhood that is going to see even more rental demand in the coming years.
Register with us to get pricing and floor plans directly to your inbox here: Olive Residences
The Best Pre-Construction New Suite Releases
Oscar Residences
Oscar Residences at 500 Dupont Street is a new development currently under construction, coming to The Annex neighbourhood by Lifetime Developments.
Oscar will make an entrance to the city as one of the first HEALTHY residential buildings. Clear Inc. provides a premium quality water system that exceeds the standards set by Ontario’s Ministry of Environment and Health Canada.
Expect an air filtration system for all common areas of the building, including the lobby, amenity space, elevators, and residential hallway corridors. And, Oscar will boast over 9,000 square feet of smart green roof systems.
Amazing amenities will set this boutique building apart from the traditional condo project, including an Outdoor BBQ Terrace, Salon Lounge, Chef’s Kitchen and Dining Room, Theatre Room, Outdoor Dining Terrace, Fitness Centre, Dog Wash, and Pet Lounge.
Fitness facilities will showcase their innovative partnership with Freemotion – a fitness company that changes the game of how we work out. Engaging training with interactive sessions that one personalizes to best suit their fitness goals in a non-intimidating, one-on-one setting.
Newly released suites include an amazing 10% deposit plus many special incentives offered through Toronto Realty Boutique.
Special TRB VIP Client Incentives:
- 2% Closing Rebate on Purchase Price
- $0 Development Levies
- FREE upgrades package for new purchasers (Value of up to$12,000.00)
- Free Assignment (Value of $5,000.00)
- Free Right to Lease at Occupancy
Special Reduced Deposit Structure:
- $10,000.00 at signing
- Balance to 2.5% in 30 days
- 2.5% in 120 days
- 5% on November 22, 2023
- 5% on Occupancy
Top Reasons to Buy at Oscar Residences
- Secure investment with one of the most reputable Builders in the city.
- Oscar Residences is a rare intimate, boutique building.
- Affordable ownership in an upscale neighbourhood.
- Convenient, central location.
- Major growth projections for the Dupont corridor.
Register with us to get pricing and floor plans directly to your inbox here: Oscar Residences
XO Condos Penthouse Collection & XO2 Condos Tower Collection
XO Condos and XO2 Condos will be connected to some of the best neighbourhoods in Toronto –Liberty Village, King West, Queen West and Parkdale. XO Condos, which will be occupying this summer, is now selling their coveted Penthouse Collection, and the floor plans are unlike any you’ve seen.
The views and outdoor space are incredible, making any of these an amazing home and investment in one of Toronto’s fastest-growing neighbourhoods.
Special TRB Client Incentives
- $0 Development Charges & Municipal Charges, Levies, Parkland & Section 37
- Free Parking for all Penthouse Suites (Value of $80,000.00)
- Free Locker (Value of $8,500.00)
- $10,000 Credit on Closing OR 1 Year Free Maintenance
Extended Deposit Structure – ONLY 5% Down
- $10,000.00 on Signing
- Balance to 5% in 30 Days
Register with us to get pricing and floor plans directly to your inbox here: XO Condos
XO2 Condos is the second phase of the very popular XO Condos development that launched in 2019 with a near-immediate sell-out.
Brought to you by Lifetime Developments, XO2 Condos is now launching their tower suites – floors 14-16, plus some of the terrace suites.
Special TRB Client Incentives
- 3% Credit on Closing on 3-Bedroom suites
- Free upgrades for all units (Value of $12,500.00)
- Free parking for 3-Bedroom suites (Value of $80,000.00)
- Free Above Grade Locker (Value of $8,000.00)
- Free Development Charges & Levies on all Suites (Value of $60,000.00)
- Free Assignment (Value of $5,000.00)
- Right to Lease During Occupancy
- $10,000.00 Credit on Closing or 1 Year Free Maintenance
Special Extended Deposit Structure
- $10,000.00 on Signing
- Balance to 5% in 30 Days
- 5% in 300 Days
- 5% in 600 Days
Register with us to get pricing and floor plans directly to your inbox here: XO2 Condos
New Special Purchase Incentives
Forma Condos
Special incentives can sometimes take a good project to great, and this is one of those unique opportunities – at Forma Condos.
Forma was the biggest launch of 2022 – nearly 70% of the building was sold during the launch period, and pricing was over $2,000.00/sqft.
Many of the first buyers were very high net-worth purchasers both locally and from Overseas. Lovers of Frank Gehry collect his suites like art collectors collect art, and they pay a premium for these coveted floor plans.
But now, with this special offer, Forma condos is really within any buyer’s reach. This special offer is to purchase at Forma for only 5% or 10% deposit (depending on the suite selection). Occupancy is scheduled for 2028 or beyond. That’s a lot of equity to build up over 5+ years, and a lot of appreciation to see during that time. You can simply invest and watch your money grow.
Something else to remember is that Forma Condos will be a landmark condo development that will be recognized globally but priced considerably less than any other landmark buildings in major cities around the globe. To us, this is a no-brainer.
Special Extended 5% Deposit Structure for Models 636, 786, 778, and 968
- $10,000 on signing
- Balance to 5% in 30 days
- 5% 60 days prior to occupancy
- 10% on Occupancy
Extended 10% Deposit Structure Before Occupancy On All Remaining Models
- $10,000 on signing
- Balance to 5% in 90 days
- 5% in 180 days
- 5% 60 days prior to occupancy
- 5% on occupancy
Studios from $911,000
One Beds from $955,000
One Plus Dens from $1,118,000
Two Beds from $1,741,000
Three Beds from $1,789,000
Why I Love Forma Condos as an Investment in Toronto Pre-Construction
- 5% or 10% Deposit – much lower than most pre-construction projects that require 20% deposits
- Occupancy in 2028 or later
- AAA Location
- Steps to Subway
- 100/100 Transit Score
- Globally Recognized Architecture
- Incredible Rents
Register with us to get pricing and floor plans directly to your inbox here: Forma Condos
If you’re interested in any of these developments, you can become a TRB Insider by completing the form on this page, or on the project pages that I’ve linked to. By doing this, you’ll get access to my VIP Client Portal which has all of the pricing, floor plans, project brochures and other special incentives directly to your inbox.
These are the best pre-construction condo buys in Toronto – if you have questions about buying, you can reach out to me directly anytime.
Romey Halabi, Broker & Founder – TRB
info@TorontoRealtyBoutique.com
416.999.1240
TRB Education Hub
Get the real estate resources you need to succeed. Visit our education hub for market insights, guides, podcasts and more.
