While hunting for a condominium in the city, Jim Neilas was disappointed by the number of high-rises geared toward investors, who rented out their units, as opposed to ones largely filled with owners actually living in their suites.
Rather than wait for his ideal residence to come on the market, Mr. Neilas, a commercial and residential developer, decided to create it. The result is a new boutique-style condominium in Little Italy called Cube Lofts.
"Knowing there were others out there like me who didn't want to live in a building full of renters, I decided to build a small, yet functional and beautiful building that purchasers would want to live in," he says.
While there will be only 21 suites in the six-storey building at 799 College St., near Ossington Avenue, more than 1,000 people have registered so far for next weekend's launch of the infill project.
"It's more intimate and feels like a true home - rather than just a place to live - with the benefits of condominium living," Mr. Neilas says of the project.
Taking some architectural cues from hotelier Ian Schrager's new condominium at 40 Bond St. in Manhattan, Cube Lofts will have a distinct facade with crisp geometric lines and expansive panes of glass overlooking College Street.
"All the buildings in the area are old, conservative and quite traditional," Mr. Neilas notes. "This makes for quite a dramatic appearance and a fresh alternative."
To the south, there will be panoramic views across Fred Hamilton Park, all the way to the CN Tower.
Available are one-bedroom units, one-bedrooms with a den, and two-bedroom suites, with ceilings up to 20-feet in two-storey homes.
The two penthouse suites will have two bedrooms, private elevator access and a private rooftop terrace, with the option of an outdoor kitchen. The larger of the two will have a den and library.
Depending on the plan, there will be sliding bedroom doors, a balcony or terrace, and four-piece, semi-en suite bathrooms that can be turned into separate powder rooms.
The decor will have a European flair, with engineered hardwood flooring, Caesar stone countertops and stainless-steel kitchen appliances. Each unit will also have laundry machines.
A monthly maintenance fee of about 40 cents a square foot will cover utilities, except for hydro. Parking is about $28,500 and a locker $5,000.
There will be two retail shops on the ground floor, which will add to the neighbourhood's diverse mix of shops, cafés, bistros and bars.
Occupancy is planned for summer of 2009.
Cube Lofts
LOCATION: Little Italy
DEVELOPER: Neilas Inc.
SIZE: 543 to 2,116 square feet
PRICE: $279,900 to $1.29-million
SALES CENTRE: by registration
CONTACT: (416) 368-5262 or