Liberty Village tends to be synonymous with affordable, newer build condos for first-time buyers and not necessarily with Toronto loft living. But there are a handful of really great soft lofts in Liberty Village not to mention one of the best hard lofts in the city - the Toy Factory Lofts.
This neighbourhood is often overlooked and quickly categorized as "condo nation" (and therefore devoid of personality and character in some people's minds) when there's actually a lot to love about this vibrant community.
Let's take a look at the selection and value proposition of Liberty Village for those interested in purchasing a Toronto loft for sale.
While the number of Liberty Village lofts compared to condo stock is small, the buildings offer a fair amount of suites combined for a small neighbourhood and there's quite a range in sizes and price points. Buyers looking for lofts in Liberty Village can choose from:
The most well-known of the bunch, the Toy Factory Lofts is currently the only authentic loft in the neighborhood (the higher floors are soft lofts as part of a new addition). It's easily one of the best run condos in the city with a strong board, tight-knit community and low maintenance fees - they're one of the few condos to actually lower their fees (by a staggering 30%) in recent years. And you're getting really stellar amenities for those low fees (great rooftop deck, gym, party room, concierge, etc) which is something that's relatively rare for hard lofts.
The Toy Factory is known for its stunning, industrial features including exposed, steel beams and Douglas Fir wood posts along with soaring ceilings and smart floor plans.
It will cost you more to buy into this building than the average Liberty Village condo (Toy Factory is averaging around $640-$650/sqft so far in 2015 but can swing up or down depending on the unit) but the year-over-year value appreciation is higher here. Plus, they're not likely to build many (if any) more hard lofts in Liberty Village, despite the conversion potential of some of the existing heritage buildings (profitability tends to be better in using the historic buildings as commercial spaces and for residential density, sticking with adding more new builds along the edges of the neighbourhood).
In other words, your higher initial investment is likely to pay off better down the road come re-sale than if you were to buy a cookie-cutter condo in Liberty Village. There are also a handful of luxury suites being added to the Toy Factory on a current, under-utilized floor (sold out during pre-construction) which will only add to the cache of this building.
You can read more in our previous blog post about the Toy Factory Lofts.
The Liberty Market Lofts are a soft loft development featuring soaring 17 ft ceilings, mezzanine bedrooms and stylish and minimalist interiors that make even the smallest units feel more spacious than they are. And even though this isn't the cheapest Liberty Village condo, its price points are still well below comparable buildings many other areas of the city.
And that's the beauty of this building - the fact that first-time buyers can get a small but really affordable and stylish loft in a safe and well-appointed neighbourhood for under $400k. And when we say "small", we mean "reasonably sized" for first-time buyers, like 550 - 650 sqft - not like the starter (or rental investment) micro condos under 350 sqft that are cropping up in various neighbourhoods close to the core.
Admittedly, it's a bit of a stretch to call this area Liberty Village (it's King West to be sure but technically outside of Liberty Village's original borders). But it's literally steps to the heart of Liberty Village and, being tucked down a side street just off of King West, it's also steps to a wealth of amenities and public transit.
The Electra Lofts are soft lofts but they still have that touch of edge with exposed concrete ceilings and/or exposed brick feature walls. What's great about these lofts is that they're two-storey layouts and so your bedrooms feel more private. Plus, you're getting really lofty, 17-foot ceilings along with floor-to-ceiling windows with this split-level configuration.
The Electra Lofts have also seen a really steady, above-average value appreciation - over the last three years in particular. So they're growing in value nicely.
To learn more about loft options in Liberty Village, feel free to reach out to one of our Toronto Loft Experts.