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475 Yonge Street Condos
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Condo Project Summary
This new project is an exciting new hotel and condominium development by KingSett Capital in the Church and Wellesley district. It will include two towers, 65 and 45 storeys each, and a central podium containing retail space, a restaurant and both residential and hotel lobbies. 475 Yonge Street Condos is scheduled for a 2022 occupancy.
Currently the site of the Courtyard Marriot Hotel, the proposal calls for the existing building to be demolished in place of an ambitious, mixed-use project. In its place, developers KingSett Capital are proposing a 65-storey tower on the north portion if the site, containing both hotel and residential suites, and a 45-storey tower on the south portion, containing exclusively residential units. Both towers will be joined by a five-storey podium which will contain retail space, a restaurant and both hotel and residential lobbies.
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The development will span an entire city block and include a pedestrian promenade running along the eastern portion.
In total, the project will house 988 residential units and 289 hotel suites, with four levels of underground parking. Building residents will have access to over 21,000 square-feet of indoor amenities and over 11,000 square-feet of outdoor amenities.
The residential unit mix in this downtown Toronto condo includes 10-percent allocated for bachelor units, 62 percent for one-bedrooms, 18 percent for two-bedrooms and 10 percent for three-bedrooms. This is a great mix, whether you’re looking for an income property that taps into the local university student market, or for a larger unit that will command top rental rate from executives working in the nearby employment districts.
Quadrangle Architects has signed on to design the buildings, a firm known for their expansive portfolio of modern and luxurious retail, residential and cultural structures. We’ve already seen them begin to transform the neighbourhood with another condominium tower just north of this new building.
Location & Neighbourhood
This stretch of Yonge Street has long been – and will continue – to be, a vibrant and desirable downtown Toronto neighbourhood that is attractive to a wide variety of residents. It’s an area that consistently ranks among the highest in Toronto for condo resale values, rental rates and real estate appreciation.
The site of this forthcoming Toronto condo development sits within the Historic Yonge Street Heritage Conservation District, a character-rich stretch that still provides almost every urban convenience imaginable. We’ve already seen an increasing number of proposals for the surrounding areas that take into consideration these heritage facades, while delivering contemporary upgrades that attract today’s modern city dwellers.
475 Yonge Street is steps to the subway, within walking distance to both Ryerson University and The University of Toronto and a short commute to several high-density employment areas like the Financial District and Bay Street Corridor.
The newly-renovated Eaton Centre, a major shopping and dining hub, as well as the upscale Yorkville neighbourhood and the eclectic Church and Wellesley Village are just moments away as well. This is an exciting development in an area that’s equal parts vibrancy and convenience.
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489 Wellington Street Condo Developer
KingSett Capital considers themselves to be Canada’s leading national private equity real estate investment firm. They have a solid track record of delivering premium returns to their investors and partners and have worked on a number of projects, including residential, commercial, hotel and industrial.
Read more about KingSett Capital.
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