LOCATION: Queens Quay East
BUILDERS/DEVELOPERS: Cityzen Group and Fernbrook Homes
SIZE: 550 to 3,600 square feet
PRICE: mid-$400,000s to more than $2-million
SALES CENTRE: Queens Quay at Yonge Street. Open Monday to Wednesday, noon to 7 p.m.; weekends, 11 a.m. to 5 p.m.
CONTACT: (416) 367-3456 or http://www.pier27.ca
Cityzen Group and Fernbrook Homes have sold more than three-quarters of the suites in the first phase of their Pier 27 waterfront community at the base of Yonge Street.
In that process, the developers have recognized that demand for the smaller units is strong, so more than 65 per cent of the 409 homes in the second phase will be models with one bedroom and a den, costing an average of $450,000. About 25 per cent of the total in the first phase were smaller units.
"Our decision to offer a larger number of smaller suites is based on feedback from the thousands of people who have expressed a strong interest in Pier 27," says Joe Cordiano, the Cityzen Group partner responsible for sales and marketing.
"But it is also based in part on our feeling that Pier 27 should be a community with room for singles and young professional couples who appreciate waterfront living."
The latest building on the nine-acre site off Queens Quay will be a mirror image of the first one. Designed by Peter Clewes of architectsAlliance, phase two will consist of a steel and glass structure with 12- and 14-storey towers joined at the 12th floor by a cantilevered bridge. The higher building will contain suites with both city and lake views.
Interested buyers can select from among one- and two-bedroom models, with or without a den, two-storey lofts, and townhouse units at ground level.
Each unit will have a large balcony or terrace, or both. Ground-floor units will include private patios.
"It celebrates life on the lake, not life with views of the lake," Mr. Cordiano says.
Established amenities nearby include a Loblaw store, an LCBO outlet, restaurants and clubs. "You have the Queens Quay TTC line at your doorstep," he adds, "as well as the Air Canada Centre, the business district, the St. Lawrence Centre and the pleasures that Harbourfront offers. They are all minutes away by foot, as are ferries to the Toronto Islands."
Like the first phase, the second will have spa-like recreational facilities. There will be an outdoor pool in the courtyard between the two buildings, a gym and treatment rooms. Residents will also have around-the-clock concierge and valet-parking services.
The suites have 10-foot ceilings, stone kitchen counters and appliances byMiele and Sub-Zero.
The monthly maintenance fee will be 51 cents a square foot, which includes all utilities except hydro. Parking will cost an extra $35,000, and lockers $4,500.
The building's completion is scheduled for the fall of 2010.