News

Freed Developments has assembled a team of award-winning architects and designers to create a high-end hotel and condominium in the Fashion District.

The building -- called 550 Wellington West and situated in the developing Queen Street East and Bathurst area -- is expected to be a landmark of cutting-edge design. It is the work of Peter Clewes of architectsAlliance Inc., while the interiors are by Cecconi Simone Inc. of Toronto and Barcelona-based Estudio Mariscal,

"This area is certainly evolving and changing, and I think [the building is] going to anchor the neighbourhood in a lot of ways," says Peter Freed of Freed Developments.

The project, across the street from Victoria Memorial Park and just a 10-minute walk from the downtown core, will feature three bars/restaurants, retail shops and a rooftop pool, bar and lounge. The area already boasts a growing collection of upscale restaurants, chic bars and clubs.

"It's certainly evolving into a place to live and play and work," Mr. Freed says.

Situated between Bathurst and Portland streets on the 1.6-acre site of Crangles Garage Ltd., the property is one of the largest in the neighbourhood. The building's main-floor fronting on Bathurst will be a recreation of a portion of Crangles's art deco façade. The remainder of the E-shaped, 15-storey structure will be encased in seamless panels of clear and sandblasted glass.

Created by the architecture firm responsible for Toronto's new Four Seasons Hotel, 550 Wellington West will contain about 100 hotel suites and 350 condo units, which will go on sale in March.

The hotel suites and common areas, including the fitness and business centres, will be created by Estudio Mariscal, known for the contemporary design of its Gran Hotel Domine Bilbao across from the Guggenheim in Spain.

While the hotel amenities will be shared with condo residents, services such as housekeeping and room service will be available on a pay-per-use basis. A "work-hard, play-hard demographic" is moving into the area, Mr. Freed notes. "A lot of people are on the go, [and] they don't have time to cook."

Cecconi Simone will design the condos, which will range from one-bedroom models to two bedrooms plus a den. Some will be multiple-storey penthouse lofts, and others will be street-level townhouses that open to a quarter-acre courtyard. Units will range from 500 to 2,500 square feet, though purchasers can combine suites for a larger one.

There will be open-concept floor plans with nine or 10-foot ceilings, floor-to-ceiling windows, hardwood floors and balconies. Kitchens will include stainless-steel appliances, and each unit will have a washer and dryer.

The monthly maintenance fee will be about 49 cents a square foot, including utilities. Parking will cost an additional $25,000, and a locker $3,000.

550 Wellington West

Location: downtown Toronto

Builder: Freed Developments

Price: $189,900 to $1.5-million

Square footage: 500 to 2,500

Sales centre: Wellington Street West, west of Portland Street. Open by appointment only.

Contact: 416-603-1550 or http://www.550wellington.com