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On Site: New Toronto tower will be ‘sleeved’ between heritage buildings Add to ...

YONGE + RICH

LOCATION: Downtown Toronto

BUILDER/DEVELOPER Great Gulf Homes

SIZE 500 to 926 square feet

PRICE $289,990 to more than $1-million

CONTACT To register, phone 416-492-7420 or visit www.yongeandrich.com

 

Contrary to the name of Great Gulf Homes’ latest downtown development, Yonge + Rich, it will not be limited to young, affluent buyers.

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“They don’t need to be young and rich to live there, but they need to be young at heart and rich in possibilities,” says the senior vice-president for high-rise, Alan Vihant, who cites price points as low as $289,990.

“The name is really talking about Yonge and Richmond [streets] obviously, and how Yonge and Richmond is a neighbourhood.”

The 50-storey condominium will be situated one block east of Yonge Street at 25 Richmond St., surrounded by Toronto’s downtown attractions, and near educational institutions, the transit system, the Eaton Centre and the PATH underground shopping concourse.

“It’s almost right in the financial core without being in the financial core. It is close to Yonge Street and the subway line and you can walk to work,” Mr. Vihant said.

“To the south is the St. Lawrence Market and great restaurants – but it’s not in the middle of all the night club scene of King West – so it’s a quieter location on one hand.”

New public amenities will also be incorporated into the glass-clad project, which architectsAlliance designed to complement two red brick buildings to be restored on site facing Lombard Street.

“What’s unique about the

site is the tower we’re building is sleeved in between two heritage buildings dating to back to the 1850s and ‘60s,” Mr. Vihant said.

“There will be retail on the ground floor and amazing loft apartments on the upper three floors of the four-storey-high heritage building.”

Residents will also have the luxury of two private amenity areas with pools, gyms, a bar and library, as well as indoor/outdoor lounging and dining spaces for fresh air.

“There will be a green pedestrian mews when you arrive and there will be amenity decks that are green and very lushly planted,” Mr. Vihant adds.

“It will be a very green building.”

In addition, every suite will have balconies seven feet deep or up to 40 feet wide.

“The sizes of these balconies are very unique on the market,” Mr. Vihant said.

“As people are moving into their first condominium, they may feel it’s smaller [than what they’re used to], so extending the space outside makes it feel bigger.”

The building’s Z-shape figure will also create more corner units with wrap-around balconies than most high-rises.

“On each of the corners, there are two-bedroom units with two bathrooms,” Mr. Vihant said. “So you get balconies off of bedrooms, as well as the living and dining room, which is really unique.”

Should buyers want more space, one and two bedroom plans can be combined into larger models.

Upgraded appointments will be standard, including prefinished engineered floors and Burdifilek-designed kitchens and bathrooms.

Some units will come with parking.

Occupancy is slated for the summer of 2018.

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