Condo Project Summary
This new condo project will be developed by Reserve Properties in collaboration with Westdale Properties. This highly anticipated joint venture is designed by preeminent firms IBI Group and U31. Line 5 Condos is a pre-construction at Yonge and Eglinton. This condo development responds directly to the fundamental changes in the way Torontonians live their lives. This includes innovative amenities such as a social-club that acts as co-working space during the day, a tuck-shop café in the lobby and a dedicated lane for ride-sharing apps like Uber and Lyft.
This is a two towered project with a stepped podium that connects the pair of buildings. There will be a total of 822 residential units in the development, including 701 condo units. The condo units will be comprised of 2 studio units, 451 one bedroom units, 231 two bedroom units, and 17 three bedroom units. This project will be taking the place of three apartment buildings, so 121 replacement rental units have been allocated to the 2nd, 3rd, and 4th floors of the podium.
The apartments will emulate the current assortment of units with 24 studio apartments, 73 one bedroom apartments, and 24 two bedroom apartments. The podium will step-up from 4 storeys to 8. The taller tower will be 35 storeys, and it will be on the southern side of the development that faces Broadway Avenue. The shorter tower will stand at 28 storeys and it will on the northern side of the development and it will face the 141 Erksine Avenue apartment building. The development will be bordered to the east and west by existing residences.
This development will have plenty of floor space for amenities. There will be 11,255 square feet of indoor amenity space on the ground floor, and this will border a 5,015 square feet outdoor courtyard. There will also be 795 square feet indoor amenity space located on the seventh floor, which will be connected to a 5,370 square feet outdoor space that will be located on the roof of the podium that joins the two towers. This elevated outdoor space will be particularly exciting in the summertime as you can stand tall above the city on those hot summer days and look across the beautiful skyline. All of the amenities will be shared with the residents of the entire development – renters and owners alike.
This development will only be one block away from the Mount Pleasant LRT Station upon completion of the Eglinton Crosstown.
Location & Neighbourhood
Yonge and Eglinton is at the heart of the city, and according to a 2017 survey performed by Toronto Life, it is the highest ranked neighbourhood community in the GTA. This rating is based on crime rate, health, employment, entertainment, and people.
In addition to the schools, museums, and cinemas located nearby, this neighbourhood is also home to plenty of hip bars and restaurants. A line of parks also winds through the neighbourhood in the north, this includes Sherwood Park.
This neighbourhood is seeing a resurgence in area population as developers are preparing to take advantage of the underutilized region in anticipation of the Eglinton Crosstown LRT that will slice through North Toronto. Additionally,117 Broadway Avenue Condos have a near perfect 92/100 Walk Score and an excellent Transit Score with 89/100. There is a wide selection of grocery stores in the area, as well as many other shops. This means that no matter what you’re looking for, there’s a good chance you will be able to find it. The strong Transit Score accounts for the abundance of bus stops and Zip Car stations located in the area, yet we can expect a sharp increase upon the completion of the Eglinton Crosstown LRT. The Mount Pleasant LRT Station will be located only one block away from these condos. This will provide magnificent access to the entire GTA, and will make the Yonge and Eglinton neighbourhood a central transit hub. This newfound accessibility will be sure to have a tremendously positive impact on the neighbourhood, perhaps even making it the next hottest neighbourhood in town.
Line 5 Condo Developers
Reserve Properties has an impressive portfolio that extends beyond Toronto to British Columbia, and back again to the other side of the continent in Florida. Their decades worth of experience informs each one of their decisions and can certainly be considered one of their greatest strengths. Their executive team is comprised of two family generations, and they represent many different expertise. They are an award winning developer, having been recognized by BILD and OHBA.
This developer has 60 years of experience in owning, managing and developing real estate across Canada. A few of these propertes are located in major Canadian cities, Kingston, Amherstview, Brockville, and Dartmouth in Nova Scotia. Westdale Properties is committed to their partners, suppliers and tenants in every step of each project. Some of their popular joint ventures consist of the Nobu Residences, Theory Condos and Sage Condo developments in Waterloo.