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New in Toronto Real Estate: King + Condos

Posted by Dylan Giuliano / September 12, 2013

King Condos TorontoThe south-east corner of King and Sherbourne has been the site of quite the battle over the past few years. King+Condos, a new 17 storey Condo has been tussling with the city over exactly what is OK to do with the three storey historic structure at its base. As we've seen with a few other recent projects, a (somewhat) happy agreement has been reached. More specifically one where in the Fa├žade of the building will remain untouched(minus some cleaning), while the aged interiors will be entirely gutted. That is, to make way for us 21st century folk who apparently prefer metal walls and frosted glass in our lobbies over the dark wood finishes of the past.

While this site has been beset by controversy over the past few years, the area around it has experienced something of a rebirth, with quite a few new condo towers going up. When King+ throws itself into the mix, it will bring 132 new residential units to this now mostly thriving corner. Despite its awesome location about halfway between St. Lawrence Market and the Distillery District, this building will also have a few indoor amenities to keep you homebodies happy. These include a pretty nice (if a bit dreary) party room, as well as a fitness centre. Most buildings downtown have the benefit of not really needing piles of amenities to keep their residents happy. And, to the developers credit, it doesn't seem they have overdone it here.

King Condos TorontoSPECS

Address: 251 King St. E.
Storeys: 17
Number of Units: 132
Unit sizes in Square Feet: 415 - 1,405
Ceiling Height: 9 ft
Unit Types: Studio, 1 Bedroom, 1+Den, 2 Bedroom, 2+Den
Price: $244,990 to $899,990
Amenities: Party Room with Caterers Kitchen, Lounge/Bar, Fitness Centre, Guest Suite
Architect: Tact Design
Developer: King Plus Development
Interior Designer: Mike Niven
Completion Date: Late 2014

King CondosThe Good

Few neighbourhoods boast this kind of mix between history and modernity, and that will always make this location desirable. The new bike lane on Sherbourne is a huge asset, and both the King and Queen Streetcars are relatively close by. Even though the historic interiors are gone, at the very least the podium of this building will show up most of your friends glass box entrances. And besides, if you don't invite your friends over no one will have to know your secret shame (unless they are a blogTO reader)! Everyone knows it's not "inner beauty" that counts.

King Condos TorontoThe Bad

The street life here might leave a little bit to be desired. If you're moving downtown expecting the non stop shopping and dining you might find on the western legs of these streets it seems you are going to have to wait a few more years. The retail life, especially along Sherbourne, is still miles behind similar streets. It really is not a promising site when a good deal of the existing condo retail is low end chains. The lack of any 3 bedroom units may not be a problem for the right buyer, but it really is more of a detriment to a community that could stand to see a few more families.

King Condos TorontoOur Take

Although it might not be quite there yet, this location in time will easily be one of the most desirable locations in the city. And if living here is anything like the club music playing at the sales site might suggest (although something tells me it won't be), you just might be in for a bit of a party. A six figure party, that is.

Read other posts in this series via our Toronto Condos and Lofts Pinterest board.

Dylan writes about real estate for blogTO, follow him on Twitter @dylan_giuliano

Discussion

16 Comments

iSkyscraper / September 12, 2013 at 09:13 am
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I used to work not too far away from this intersection, in the 90s, when this was a positively terrible area. Absolutely awful. People sometimes get lost in the weeds when looking at condos and forget what a miracle they have pulled off in terms of converting downtown east side streets from highway traffic, hookers and parking lots into actual livable areas. But as far as looks go, I think the rendering here is great. I have no issue with facadism, it worked well enough at the old bank right across the street from this site and at many other places in the city. Go for it.
great area / September 12, 2013 at 10:44 am
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There are plenty of good restaurants and bars along King East/Front East.

Clown comment, bro
iSkyscraper replying to a comment from great area / September 12, 2013 at 10:57 am
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Yes, there are. I was referring to the area between Jarvis and Sherbourne Ave in the late 90s, along Richmond, Adelaide and Queen. Not King East/West, which crica 1997 was not exactly all that great either. Times have changed, and I credit the condos for much of that change.
iSkyscraper replying to a comment from great area / September 12, 2013 at 10:59 am
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Excuse me, I meant to say "between Jarvis St and Sherbourne St".
great area replying to a comment from iSkyscraper / September 12, 2013 at 11:14 am
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I was actually replying to the OP on that, not you.

I understand what you were saying.

But Dylan made it sound like King East today is some rural outpost. Which is clearly not the case.
Kevin / September 12, 2013 at 11:34 am
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Being someone who lives in the area, they didn't 'save' the facade of the building; they tore it down minus two of its exterior walls (the corner of King and Sherbourne).
Maurice / September 12, 2013 at 11:54 am
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To say that there are no good restaurants and retail in the area is really shocking. What are you looking for, a Harry Rosen? Eaton Centre is closer to here than to King West. And all you need to do is stroll down King St. in either direction from Sherbourne to find solid spots to eat.
READER1 / September 12, 2013 at 01:44 pm
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Oh wow, so many real estate agents positing here. Shouldn't y'all be off writing misspelled MLS ads talking about how this building is in a hip and funky up and coming neighborhood
Jen C / September 12, 2013 at 01:54 pm
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I lived in the condo across from this new development 5 years ago and loved the area. Not every buyer in the city is looking for bars and nightlife at their front step. You can walk to St. Lawrence Market, the Distillery, Eaton Centre and the subway is only 10 minutes away. Not to mention there are three grocery stores close by - King West can't claim that kind of convenience. The retail in the condo I used to live wasn't the best, but there are plenty of higher end stores in the area and quite a few restaurants. This area used to be sketch about a decade or more ago, but the condo growth and revitalization of the Toronto Sun building have changed this area for the better.
huh replying to a comment from READER1 / September 12, 2013 at 01:54 pm
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No one is trying to sell the building.

Sounds more like people who arent clueless about the city.

Jackass.
Troy replying to a comment from Kevin / September 12, 2013 at 01:56 pm
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Isn't that the very definition of saving the facade of the building? They did the same thing to the bank across the street.
Troy replying to a comment from READER1 / September 12, 2013 at 02:00 pm
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I'm not a real estate agent, I live in the area, and it is a great interesting and historical area, and the whole West Donlands development is bringing new life to the area as well. Perhaps not many hipsters, but we like it that way.
Niklas replying to a comment from Jen C / September 12, 2013 at 04:18 pm
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Sobeys, Loblaws and Metro are all on King West?
sct / September 12, 2013 at 08:13 pm
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This is the best neighborhood to live in the city! This condo development is another example of a historic building that has been torn down by a developer and the city to make money!
Stephen / November 15, 2013 at 01:07 pm
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We are in the process of aggregating condos investment information so we can rank the best investment grade condo's across the GTA. Currently, our findings have indicated the best value condos are in Cityplace, Bay&College and Liberty Village. Does anyone have insight around what this condo might rent for so we can add it to our database @ www.MyCapitalCorner.com.

I'd be curious to know what 1 bedroom, 1+den bedroom units and 2 bedrooms rent for.. Thanks,

Stephen - Real Estate Investment Consultant
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