Stacked townhouses have a tendency to fall through the cracks when new condominium buyers are drifting from model suite to model suite in a haze of hardwood samples and glossy brochures.
But the stacked home is gaining ground as the dwelling of choice for young families that want the maintenance-free features of a condominium but not the human warehousing of a high- or mid-rise suite.
For the most part, stacked developments have been aimed at the no-frills side of the market, to great success. They've been touted as a good entry-level house for single-parent families or people who live and work in the same dwelling, thanks to the privacy that can't be found in a flat.
Essentially, stacked townhouses are two or three separate dwellings stacked on top of each other, but all contained in a single structure resembling traditional row houses. They all have separate entrances, but unfortunately only one unit — at ground level — can enjoy any private yard space. They tend to be most common as infill developments on land that is zoned for residential development, but not for high-density buildings.
The upside of this dynamic for young families is that stacked townhouses can usually be found in areas that have established schools, parks, community centres and the like. So, not surprisingly, this buyer profile provides a solid base for the stacked market. Unfortunately, stacked townhouse sales and average pricing data are not broken out by the reliable research organizations. But most market experts agree that stacked units account for between 8 and 12 per cent of new condominium construction in the Greater Toronto market.
Daniels Corp. has been a prodigious purveyor of stacked developments in recent years, particularly in Markham, Mississauga and Erin Mills. It has managed to brand three separate projects with the moniker Daniels First Homes, featuring stacked suites starting as low as $150,000 for two bedrooms. These were built prior to going on sale, which allowed buyers to move in as early as 30 days after making their deposit (though interested buyers were asked to preregister). The concept proved to be so successful that at every launch, upwards of 100 suites were sold in a single weekend.
The stacked concept appears to be taking tentative steps toward the upscale buyer. The recently completed Pleasant Boulevard Townhomes proved to be an impressive addition to the ritzy neighbourhood south of St. Clair Avenue, just east of Yonge Street.
The project by Tower Hill Development Corp. consists of 32 brick townhouses ranging from $489,000 to $580,000 for either a 1,290-ƒ|or 1,335-square-foot suite (prices include a parking spot).
Each unit has two levels and features a two-bedroom layout, with the bottom unit including a patio walkout. The price range reflects Pleasant Boulevard's high-end appointments — such as granite countertops, landscaped frontages and gourmet kitchens — as well as it's location on the fringe of Rosedale.
The bulk of stacked townhouses remain well below the $400,000 mark, and it's not that hard to find a good-quality, two-bedroom stacked dwelling in the $150,000 to $200,000 range.
In Markham, Deltera Inc. recently wound up construction and sales at Old Kennedy Village, a 135-unit infill site at Old Kennedy Road and Steeles Avenue. Prices, which also included parking, started at $190,086 for a 725-square-foot suite.
The stacked concept took hold in the downtown west side in the late 1990s with the redevelopment of land along King Street east of Strachan Avenue. Now it appears to be coming on strong in the east end as a component of larger loft developments.
Beaverbrook Homes' Printing Factory Lofts at Carlaw Avenue near Queen Street will feature a 44-unit stacked townhouse component, with six open-concept designs ranging from 578 to 1,258 square feet catering to the live/work market. Prices range from $189,000 to $491,000.
A short distance west, closer to downtown, Intracorp's Rivertowne development on Dundas Street, west of Broadview Avenue, will offer 187 stacked townhouses ranging from $220,000 to $385,000 for between 648 and 1,118 square feet.
