The Toronto waterfront is slated for big things.
A planned 25-year buildout in what will become a new neighbourhood—and a sprawling one at that—the biggest real estate developers in the city are building towers in the East Bayfront Precinct. Naturally, investors will be in close pursuit.
Brian Bogaert, a money and wealth coach, bought a one-bedroom-plus-two-dens unit at Lakeside Residences, a Greenland Group condominium, and he says the novel layout gives him options.
“What I like is the flexibility, and if all I have is one or two bedrooms, I’m limiting what I’m doing,” said Bogaert. “But this could be a perfect place for a young couple with kids, or two roommates, or a single person who wants an office and could knock off the wall. Or it could be used as separate bedrooms for two kids, or a mature couple with a seven- or eight-year-old.”
While one-bedrooms are easy to rent, two-bedrooms have higher square footage, but the one-plus-two-dens provide Bogaert the best of both worlds.
“I’m not limiting myself for rental, or the eventual sale, to just one group,” he said. “As an investor, you can change the look and feel of the suite to accommodate what somebody wants to do.”
Bosley Real Estate sales agent Davelle Morrison says that the waterfront development project is brimming with potential and
Tridel’s Aqualina, which sold out, is right on the water and, according to Morrison, is among the acme of the new developments.
“It gets me most excited because it’s literally on the water,” she said. “Pier 27 is pretty cool, too, because it looks like Miami with beautiful swimming pools, spas and massage rooms. It looks beautiful and some of the units face the water. It’s like you’re living on a boat. I think it’s spectacular for Toronto that they give you that waterfront.”
While the Queen’s Quay still looks barren, the area is set to transform in just a few years when the new Toronto Star complex is finished.
“On the north side of Queen’s Quay, they’re developing the Toronto Star complex,” said Morrison,” and I think when that gets developed, that pocket of Queen’s Quay will really start to sing.”
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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.
