Property Address
Description
Condo Project Summary
This new condo is coming to one of Toronto’s largest employment powerhouses within this downtown Urban Growth Centre.
15 Richmond Street East Condos is a new high-rise condominium development in Toronto. This 71 storey pre-construction project with 565 units is located at 15 Richmond St E, on the southwest corner of Victoria Street and Richmond Street East, in the Financial District.
This mixed-use real estate development will be just minutes from several subway stations and present an exceptional urban lifestyle.
Amenities
15 Richmond Street East Condos is centered around stirring transformation and involves the redevelopment of the existing Cambridge Suites Hotel in downtown Toronto. This will be accomplished by removing the roof of the hotel and expanding the structure’s existing floors while applying a new thermal façade and installing additional upgrades. A total of 48 new storeys will be constructed above the existing development, with a new exterior. The result will be a striking new condo tower that rises throughout Toronto’s skyline, making a distinct impression.
Retail units in this condo project will be present off of street level, adding convenience and service. The majority of condos will be one-bedroom units, with two and three-bedroom suites also available for investment.
Residents will be able to enjoy competitive amenities that match and rise above those found elsewhere in the neighbourhood. Residents will benefit from ample indoor amenity space, as well as lush shared outdoor areas that provide fantastic views.
Outdoor terraces and private balconies will present additional room to relax and rejuvenate in this central city gem.
As a transformative development, this condominium promises to bring exciting new Toronto real estate for a solid investment.
Location & Neighbourhood
15 Richmond St E Condos are located in Toronto’s dynamic Downtown and also within its iconic Financial District. Residents in this area can enjoy amazing walkability with daily needs just steps from home. This address scores an extraordinary Walk Score of 100/100 and a Transit Score of 100/100. This location is a walker’s and rider’s paradise, which is an uncommon double accomplishment. High-rise buildings spring from the landscape at every turn and densification is the current theme.
This community falls within one of the city’s much sought-after sweet spots. While this condominium isn’t on Toronto’s waterfront, this development presents fantastic investor opportunities. Queen Subway Station is just 120 metres from these condos and an additional five subway stations on the Line 1 Yonge-University are also within walking distance in under 700 metres. The future Ontario Line 3 subway will add even more connectivity with trains traveling west to Exhibition and northeast to the award-winning Ontario Science Centre. Residents can easily hop on a train or grab a street car along Queen Street and King Street to reach all the city has to offer. Whether it’s dinner with a friend, a date-night with the country’s best art, or an early-morning corporate meeting, leading public transit will get them there.
The real estate market is bound to treat this area well. Downtown Toronto is known as one of the largest areas of employment in the Greater Toronto and Hamilton Area (GTHA). This is also Canada’s foremost centre of commercial activity. This area is one of five Urban Growth Centres (UGCs) outlined by the province of Ontario and is expected to grow by an additional 700,000 people and 450,000 jobs by 2051. Substantial growth will help this area reach its minimum density target in impressive ways. As an investor this presents ample opportunity for passive income generation.
Job growth is expected in nearby areas including in local government offices and post-secondary institutions. The City of Toronto’s Proposed Downtown Plan outlined in 2016 details the expansion of the Financial District and the establishment of a Health Sciences District that prioritizes non-residential uses of land as an action plan. This land prioritization will make condominiums such as this highly desirable for those seeking one of the shortest commutes possible to class or work.
Historically, the majority of newcomers to Canada settle in or near Toronto and this trend is expected to continue. Residents at this location are just ten minutes on foot from the city’s central business district as well as the University of Toronto and Toronto Metropolitan University. Locals can enjoy immediate proximity to the city’s cultural attractions including festivals and fairs at the renowned Nathan Phillips Square. The vibrant spirit of Yonge-Dundas Square is also just a few blocks away. The Hockey Hall of Fame and the city’s celebrated entertainment district are just a short ride or walk, for an afternoon or evening diversion. For the latest edge in fashion, residents can venture north to Toronto’s exemplary Eaton Centre in just minutes.
This condo’s location is ideal for urbanites on the go who love to hold the heart beat of the city within their grasp. As a development at a prime location in Ontario’s most dynamic UGC, this development is one to pay attention to.