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Condo Project Summary
This new condo project is a pre-construction development by CentreCourt in downtown Toronto. Prime Condos is located in the Garden District neighbourhood.This is an exciting and rapidly-transforming corridor and this condo sits right in the middle of it.
The developer’s proposal is calling for a 45-storey building just south of Gerrard Street, comprised of 579 residences with retail at street level and a rich collection of indoor and outdoor amenities.
The podium will feature outdoor amenity spaces on both the second and third floors, along with an expansive wraparound outdoor terrace on the top of the podium. Indoor amenity space will also be included in the podium, likely in the form of a fitness centre, party room and a business centre.
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With 579 residential units in total, the unit mix is proposed to include:
- 165 Studio suites
- 330 one-bedroom suites
- 84 two-bedroom suites
Five levels of underground parking will provide 76 vehicle spaces and 580 spaces for bicycle storage.
Recently, the developer announced that the main residential lobby will be furnished by the Italian luxury brand, Versace. Images of the furniture and lobby finishes depict an elegant, gold and textured collection that will offer you a touch of opulence overtime you walk through the doors. The grand lobby will be accessed off Jarvis Street and will also include 24-hour concierge service, a lounge and some retail access.
CentreCourt has partnered with architects Page + Steele / IBI Group to design this condominium, which will feature a striking, three-dimensional diamond pattern asit ascends into the sky. Materials on the tower will include glazing, stone and steel to add texture and architectural interest.
Location & Neighbourhood
This downtown Toronto condo is located in the Garden District, an area where intensification and tall building growth exists and will continue to. It’s part of downtown’s “urban growth centre,” a location where the province’s growth policies direct the most intensive forms of growth. This plan has been put in place to help create complete communities that offer more options for living, working and playing, curb urban sprawl and reduce traffic gridlock by improving access to a greater range of transit choices.
Even though the site is in a prime urban location - steps from dining, shopping and a wealth of entertainment options – it’s been somewhat underutilized until recently. We’ve seen a number of contemporary condominium buildings have success in the surrounding area, and a series of projects are either in the pre-construction or construction phase nearby. This is a great opportunity to invest in an area as it’s actively transforming.
At this condo building, you’re steps from two 24-hour streetcar lines, as well as the subway station. In fact, the address scores a perfect 100/100 on its Transit Score.
This new urban development borders the main Ryerson University campus, which continues to expand and gain recognition internationally. Investors looking to buy in an underserved neighbourhood that is in need of residential options will want to keep an eye on this development. Studies show that when Ryerson is compared to York University and University of Toronto, Ryerson has the fewest housing accommodations for the number of enrollees. This means that each year, more and more students must find off-campus housing nearby.
Prime makes a great home base for students, faculty, and alumni. Additionally, jobs in the downtown core are expected to increase by 370,520 jobs in the next 20 years. One of the key players in bringing jobs next to this impending development is the Bank of Montreal. The financial institution is set to build a new "urban campus" for 3,500 of its employees. This "cutting edge" 346,000 square feet workspace is expected to open in 2021.
This prime location is also a short walk or commute to many great downtown neighbourhoods including Cabbagetown, the Church and Wellesley Village and the Financial District, where it’s estimated nearly 200,000 people work every day. The newly-renovated Eaton Centre is not far away either.
Allen Gardens, a popular urban park that features a greenhouse full of botanical blooms all-year-round is just down the street.
Dynamic, urban and growing, this a strategic place to consider investing, and suites here are highly in-demand by professional tenants.
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Prime Condo Developer
CentreCourt Developments specializes in breaking ground, whether it’s building in burgeoning neighbourhoods or incorporating modern amenities. They have a number of well-designed high-rise buildings throughout Toronto and the GTA, favouring neighbourhoods that are close to major amenities, rapid transit and employment areas. With two other sold-out condominiums just steps away from this Jarvis Street site, they know the area well.
Read more about CentreCourt Developments.
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