The Toronto pre-construction market has returned, and buyers are paying attention. In 2023 many buyers hit the pause button in making any purchases, but they are back into the full swing of the pre-construction market this spring.
With many exceptional projects available right now, and some pretty bad ones, I wanted to showcase some of the developments my clients are buying at and the reasons why.
Freed Hotel & Residences
I start here because it is the most recent launch, and it’s getting quite a bit of buzz, both with local buyers here in Toronto and among buyers in Vancouver as well.
Freed Hotel & Residences, a mixed-use condominium project by Freed Developments, is set for pre-construction at the prime location of 240 Adelaide Street West. Situated on the northeast corner of Adelaide Street West and Duncan Street, this 5-star development promises to redefine luxury living and hospitality in the area.
The biggest appeal of this project is that it’s being compared to the other hotel residences in the city like The Ritz Carlton, The Four Seasons and The Shangri-La – all luxurious condo-hotels to call home with values and rents that are an investor’s dream.
Freed Hotel & Residences promises the epitome of hotel services available to all residences, including an out-of-this-world hotel lobby, a rooftop restaurant and health and wellness areas with full access.
This is definitely an investor play, as the rental demand for this building will blow away any of the competition, including the other luxury hotel residences in the area.
The launch was very successful, and worksheets are being submitted now. Interested in taking a look? You can visit my project profile page here – Freed Hotel & Residences – and by simply registering, I’ll get you the floor plans and VIP pricing right away.
Bellwoods House
I love this project for many reasons, but what stands out among all of my buyers is the location and the neighbourhood. I live in the area and can see the project site from my condo. I’ve lived here for over 18 years, so I know it well.
I also know the developer, Republik very well and the product they are putting forward for this development is what others would position as major upgrades. It’s going to be a beautiful building that’s the last of its kind in this area so the demand to get in is very high.
This project is for both end users and investors. Many of my clients who are planning to live at Bellwoods House have purchased or are looking at the spacious 2-bedroom layouts.
For investors, there are some incredible studio and 1-bedroom suites that will demand the higher-than-average rents that King West provides. It’s a great piece to add to any portfolio and hold on to for many years to come. Demand will always be there in the King West and Trinity-Bellwoods area.
Another buyer group that should be paying attention to Bellwoods House is first-time buyers. This is a wonderful opportunity to purchase at a lower price per square foot, save for a couple of years while its being built, and move it and enjoy some equity that’s built up over the development time. I’ve recommended many of the studio and 1-bed suites to my clients and they love them!
If you’d like to check out the floor plans and pricing, you can register on my project profile page here – Bellwoods House – and I’ll get you all of the details right to your inbox.
Q Tower
I keep Q Tower high on my list because there are many advantages to buying here. Although it launched back in October, the location, the suite layouts and the incentives keep buyers coming week after week.
The waterfront location is the standout selling feature, as it will be the final building to be developed along the waterfront neighbourhood.
At launch, many of the bigger suites were the most popular as end-users made this a top priority for a future home in the city. But now, many of the very popular 1-bedroom layouts with unobstructed city views are selling as these are the perfect sized suite for an investor and a first-time buyer. The city views will never be blocked, so this is an incredible selling feature that has a very wide appeal to renters.
Lifetime Developments and Diamond Corp are two of the biggest builders in all of Canada, and their partnership solidifies Q Tower as a dependable buy in a sea of pre-construction uncertainty. They both have massive pipelines and are known for high-quality finishes and livable layouts in their projects.
One of the best incentives I’ve seen is for their Citypolitan Suites – the city-facing Studio and 1-bed layouts that offer a 2-year rental guarantee at $7/sqft. Currently, the average in the area is at just $4/sqft so even with some growth during the build phase, you’re still getting a huge bonus from the developer.
Other special incentives include a super-extended deposit structure, capped fees and free assignment. If you’d like to take a look at floor plans and pricing, you can register on my page to get all of the details emailed to you immediately. Check it out here – Q Tower Condos.
Coming Soon: 101 Spadina Condos
There has been a lot of build-up for this project and for many good reasons. I had a chance to meet with the builder, Deveron Developments, and the head of Audax, the architecture team behind the design of 101 Spadina at a recent pre-launch event.
This building promises to be unlike any other condo in downtown Toronto, and the reason is solely based on the design. They promise to bring something unique to the skyline, and after looking at the portfolio from Audax, I truly believe this will be something special.
The launch will be coming soon, so if you’d like to be first with floor plans, pricing and access to the best suites, you can register with me on my project profile page here: 101 Spadina.
Do you have questions about buying pre-construction in Toronto? If so, connect with me anytime – I’d be happy to share my expertise and guidance in buying successfully and strategically in the Toronto market. My contact form is on this page or call/text directly – 416-999-1240.
~Romey Halabi
Founder & Lead Broker, Toronto Realty Boutique
416-999-1240