Amid a dearth of new condo launches, Toronto is receiving one of its first new luxury boutique releases.
Capitol Residences, a 14-storey, 145-unit condominium from Madison Group and Westdale Properties in the bustling Yonge and Eglinton epicentre of Midtown recently launched sales for units of up to 3,000 sq ft with pricing starting at $1 million. The building’s units are superlatively designed with 10-foot ceilings, curated finishes and signature kitchens featuring everything from gas ranges to high-end appliances and oversized terraces and balconies.
The building pays homage to the former Capitol Theatre, which opened in 1914 and closed in 1998, and saw locals through the difficulties of the Great Depression and 1930s. The amenity package features a speakeasy-inspired golf simulator and social club, and more.
“The amenities harken back to the essence of what the grandness of life was at the original Capitol Theatre, which anchors the project. To come in through a grand lobby, have a state-of-the-art fitness facility, a golf simulator that’s paired with a bar and social lounge; there is a really unique kids’ play area that has a theatre stage that was inspired by the original Capitol Theatre,” Josh Zagdanski, VP of high-rise at Madison Group, said. “There is a social club with both a living and dining room that opens up to a really magical terrace, which is social-oriented, depending on how you want to use it. There will be a brand new city park next to the development, too.”
The Studio Munge-designed entryway retains the theatre and film theme omnipresent in Capitol Residences, but as much as the building’s interior is a blast from the past, the surrounding neighbourhood is arguably the greatest amenity, says Zagdanski.
“The site is in the Yonge North Village and the proximity of the urban centre is continually evolving and with the LRT and all the amenities as well as increased density in the area,” he said. “You can see it in the form of retail and office tenants and residents coming to add value and completing an area where they live, work and play to the fullest extent.”
Neil Sharma is the Editor-In-Chief of Canadian Real Estate Wealth and Real Estate Professional. As a journalist, he has covered Canada’s housing market for the Toronto Star, Toronto Sun, National Post, and other publications, specializing in everything from market trends to mortgage and investment advice. He can be reached at neil@crewmedia.ca.
