Rosedale on Bloor
Builder/developer The Gupta Group
Size 307 to 850 square feet
Price Low $200,000s to more than $600,000s
Contact To register, phone 416-928-9997 or visit therosedaleonbloor.com
A local developer behind some of Toronto's major hotels and high-rise residences will build its latest condominium project in conjunction with Canada's first hotel under Hilton's new and exclusive brand.
The 52-storey tower, called Rosedale on Bloor, will house Canopy by Hilton on the first nine floors and 476 residential units from the 11th floor and above at 387 Bloor St. E., just west of Sherbourne Street.
"We have the first ever Canopy by Hilton hotel on site and the beauty of the site is the fact that … the condo is operated separately from the hotel, but you have the perks of the amenities, as well as full service concierge," says Reetu Gupta, chief operating officer of the Gupta Group.
For instance, the hotel will provide public quarters to indulge in music, art and food, among other things, to serve a niche market of travellers and locals. "They create amenities for a younger generation with more high-tech and more values that young professionals are looking for," says chief executive officer, Steve Gupta.
"We really made it an upscale lifestyle, like resort-style living, being in a hotel with all the amenities you would ask for and would use if you were to stay at a hotel for a week on holidays. But you'll be on holiday 365 days here."
Residents will also have their own lobby, elevators and recreational facilities, such as a pool, theatre, lounge, dining room and chef's kitchen, as well as a rooftop terrace with a fireplace, fire pits and barbecues.
"We have a great gym [since] the Gen X and Gen Y generation is more into health and wellness, which is also very much a theme with the Canopy hotel," Ms. Gupta explains.
"But for the business professionals, we also have a business centre, so people working from home, rather than working in their actual unit, we have an area that has a desk, WiFi and flat screens, so they could go in and conduct meetings or work on their own."
Virtually any other amenity or attraction can be found nearby, from renowned educational institutions and extensive parkland in Rosedale, as well as luxury retailers, restaurants and galleries in Yorkville. "There's no other project in Rosedale right now, it's hard to find land in downtown Toronto," Mr. Gupta adds.
"You get all the facilities of Yonge and Bloor and Yorkville living at 387 Bloor St., which is five to seven minutes away walking distance or two subway stops, yet you're paying 40 to 50 per cent less than what you would pay in Yorkville."
That reason alone has helped sell two thirds of the mixed-use development during preview events leading up to the public launch later this year. "It's a very good response because of the location," Mr. Gupta says. "We're right on the subway, right on Bloor Street, overlooking the Rosedale Valley."
Among buyers, everything from studios to two-bedroom plans are popular with their open concept living areas and interior bedrooms separated by sliding panel doors, as well as Studio Munge's contemporary design package with smooth, nine-foot ceilings, engineered quartz counters, custom kitchen cabinetry and stainless steel appliances.
Move in dates are projected for 2019 and monthly fees of 58 cents per square feet. Parking will be $65,000 and lockers $6,000.