If you're a loft lover who's been looking for Toronto lofts for sale this year, it'll come as no surprise to you that we're under a major listings constraint in this city. This is particularly true with authentic, hard lofts but even listings in newer build, soft lofts have been few and far between this summer.
Although buying pre-construction is not without risk - and in fact, we advise our clients to always check out the re-sale Toronto loft market before jumping to a pre-con purchase - the reality is, in this market, you may not find a re-sale loft unit in your price range, in the neighbourhood(s) you're interested in. We're thrilled any time we see a new Toronto loft project arise that increases supply and buyer options in a very tight market.
We've talked before about our love (and the incredible value) of east end lofts but there's no denying that the west end is prime real estate territory in Toronto. There's not a whole lot of new stock coming up west side but there are a couple of projects that prospective loft buyers should know about. Some are in pre-sales, some under construction and a few are already open and may see some re-sale listings hit in the coming months.
Inspired by the art of Japanese paper folding, Origami Lofts by Symmetry Developments are planned for the corner of Queen and Bathurst. The development will house just 24 loft units (only two remain at date of publishing) that the builder's describe as "sculpted". The most interesting part of this building in our opinion, however, is the exterior.
According to Symmetry: "Glass and contoured metal cladding evoke the crisp angles of folded paper... One corner of the building is completely cut out, with exposed glass-enclosed terraces that jut out dramatically... Due to the varied angles and folds of the cladding, each side of the building offers a unique perspective."
They're also working landscape elements into the folds of the building to further accentuate the organic and edgy (literally, "edgy") architecture by Teeple Architects who have received five Governor General's Awards, Canada's top architectural recognition.
The interiors by DKStudio Inc. are pretty cool also and mirror the exterior and origami theme, pictured below and in our lead image (model kitchen).
Given Streetcar's fantastic work east side, we're not surprised that their west side developments sold out but we wanted to let you know about both Twenty and the Carnaby, below, as they're now open and we're sure to see re-sale opportunities hit the market.
Twenty Lofts is a seven-storey, boutique mid-rise at Gladstone and Queen West. Phase I is located at 2 Gladstone and Phase II will be located at 8 Gladstone. This is the final stage in Streetcar's Queen West community that consists of a total of five loft buildings - including Twenty (two buildings), The Carnaby and Carnaby Row. They're partnered with TACT Architects and Dream (formerly Dundee Realty) on this massive, full block project.
We love that these are nearly all boutique, mid-rise developments that should blend seamlessly into the neighbourhood while bringing some welcomed street-level shops and galleries to the area and that they've added a walk-through mews, pictured below. They're going for a Soho-esque vibe here.
Inspired by Carnaby Street in London’s west end, this the other big part of Streetcar's new loft community at Queen and Gladstone. The Carnaby Phase I contains 213 loft residences within a 20-storey building (the one high-rise development anchoring the other, four mid-rise buildings) including two-storey lofts with 13' ceilings and spacious penthouses. Phase II offers an additional 224 residences.
Both The Carnaby and Twenty have been designed by TACT Architects in keeping with the vibe of the West Queen West art and design district so you'll see not only a crisp but gentle architectural approach (in terms of blending into the existing neighbourhood) but also a high-level of attention paid to street-level landscaping and retailer choices.
You should also see a fair amount of plantings and green space (but it's still limited compared to other 'hoods; this is the heart of West Queen West after all). Streetcar is big on livable communities containing green space. They've said that "we believe in trees, and greenspace, and the right to hang-out...".
Harhay's development at Bathurst & Adelaide has been making waves not for its design aesthetic per se (which is lovely but very minimal and crisp) but for its concept of bringing the perks of penthouse living to the all residents.
Rather than reserve the highest quality finishes and most sumptuous design elements for the top dollar, top floor suites, Harhay, working with II by IV Design on the interiors, are bringing European-style luxury and quality finishes to a wider number of premium suites that will be spread throughout the building on different floors. The architectural partner is Core Architects.
Speaking with the Globe and Mail, President of Harhay, Chris Harhay said that "There are always fantastic penthouse units at the very top – and they’re priced accordingly and available to a select few. So we wanted to look at interspersing some fantastic units in various levels of the building that are basically penthouses on lower levels”.
We love this idea, providing that there are savings to be had by buying lower down.
These are just a few of the exciting, new lofts in Toronto's West End that have recently opened their doors or are in the pre-construction or construction phases.
If you're thinking of buying a loft this year, give our team a call and we'll set you up with a Toronto Loft Expert in the neighbourhood you're buying in. They'll review all of the pre-construction and re-sale opportunities with you along with offering advice on fair market values, which projects are a good investment and which to stay away from.
Image credits: All Origami Lofts images © Symmetry Developments. All Twenty Lofts and The Carnaby images © Streetcar Developments. All One Eleven Condos & Lofts images © Harhay Developments.