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New in Toronto real estate: 1000 Bay Condos

Posted by Derek Flack / July 24, 2014

1000 Bay condos1000 Bay Condos (or 1Thousand if you're into the developer's branding) are one of a series of new condos in the works on this particularly stretch of the street, the most notable of which is the Britt at the former Sutton Place Hotel site. Not as soaring as some of the other developments nearby, the development will nevertheless contribute to the further densification of Bay St., something that makes sense given its amenities and the width of the road (it's rarely snarled with traffic south of Bloor).

While the building is another example of a glass condo, lead architect Peter Clewes has given it character with a two tower design that makes for a dramatic rooftop terrace atop the shorter structure. The depth of the balconies throughout the building also add visual interest and ward off an accusations of monolithic design.

1000 Bay condosSPECS

Address: 1000 Bay St.
Storeys: 32
Number of units: 458
Unit types: Studio to three bedrooms
Unit sizes: 377-1168 sq. ft.
Price: High $300,000s
Architect: ArchitectsAlliance
Developer: Crestford Developments
Estimated completion: 2015

FEATURES

  • Media Room, games room, billiards room, and party room
  • Yoga & Pilates Studio
  • Exercise Room
  • Concierge services
  • Rooftop Terrace

1000 Bay condosTHE VERDICT

Solid development. There's nothing particularly groundbreaking here, but most of the boxes are ticked for a downtown development. The unit range is good, the exterior design is pleasing enough, the units themselves promise some luxury finishes (quartz countertops, ceramic backsplashes, full-height bath tubs), and the rooftop terrace looks like a legitimately nice place to spend time.

It doesn't bear much explaining that the location is excellent. Situated just below Yorkville and adjacent to U of T, there's ample cultural, retail, and green space. Yes, you will pay for this (check the starting prices), but living in such a well-served area in Toronto is always going to be costly.

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

Discussion

13 Comments

TJ / July 24, 2014 at 09:11 am
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Are you kidding me? starts in the high $300,000s at 377 sq ft? So we are looking at around $1000/sq ft?
Chester replying to a comment from TJ / July 24, 2014 at 09:18 am
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I agree I saw that and that would put this development in the top 10 most expensive per sq foot in the world! Quite ballsy for a boxy condo. But to each his/her own.
hello / July 24, 2014 at 09:29 am
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By their website, unit sizes go up to over 1000sqft. Need to double-check your unit size range.
names / July 24, 2014 at 09:44 am
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"The Britt" - definitely in the running for silliest name of the decade. Especially with the little crown on top. "OOoh... so
British- must be klassy"! Gag
KG / July 24, 2014 at 10:45 am
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25 years ago U of T students fought to keep this area as green space for student use, mainly as a football/soccer field. St. Mike's College just waited them out until it couldn't resist the $$$$$$$$$$.
Alex / July 24, 2014 at 10:55 am
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The overall average won't be that high...the smallest suites usually have the highest $/SqFt in the building, and the larger the suites get, the lower the $/SqFt gets. This building may come in between $800-$900/SqFt overall, which still makes it one of the more expensive "non-luxury" buildings in the city.
TJ replying to a comment from Alex / July 24, 2014 at 11:32 am
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So my real estate agent told me based on the small partial price list of limited units that he has, it is ranging at between about $940-$1070 per sq ft (not including penthouses which are even more).

In the core of the City, I've tend to find that the smallest suites never have the highest $/sq ft anymore; the penthouses and lower penthouses do. If you take those out of the equation, it is usually the units with the best views that have the highest price per sq foot. It used to be that the smallest units were the cheapest and often had the best price per sq ft (to draw in customers) but the worst locations/views in the building (next to garbage shute; view of garbage bin; small windows/little light; etc.)
jitte replying to a comment from Chester / July 24, 2014 at 02:00 pm
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$1000/ft2 is nowhere near the top ten most expensive development in the world, what a ridiculous comment. Average prices in, say, Hong Kong Island are ten times that, and there are certainly more than ten new properties under development there right now. London is around five times as high. Tokyo, Paris, New York, Moscow, Singapore, even Shanghai, are all much, much more expensive per average square foot.

Even at $1000/ft2, we're not even in the top ten cities for real estate prices. That development probably wouldn't even crack the top one thousand by price.
BillyO / July 24, 2014 at 03:48 pm
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This project is virtually sold out, and has been under construction for over a year. Check out UrbanToronto.ca for more updated information
John Labatt / July 24, 2014 at 10:47 pm
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458 units 3 elevators. My rental building has 2 elevators 79 units. That's a very long wait for elevators at 1000 bay. Not sure why but people will keep buying until the condo crash coming very soon.
Pat / July 25, 2014 at 09:44 pm
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Another non-factor is this condo. All these condos don't mean anything and don't bring anything positive. It is not for and by the local economy, but is MADE IN CHINA, literally - in who bought units and probably material.
christopher / July 26, 2014 at 02:32 am
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#1-Nothing new about the design. Very boxy which is old school. If spending lots of money buy something no one else has. For rich people that is always priority number one.
#2Toronto is the only major city in the world to have two new neighbourhoods within its downtown core in the last ten years. Liberty Village/Distillery. The city also has plans for one more major neighbourhood which will be the leslie spit which will be turned into Venice if all goes through (check out the internet for city planning I hear there is a video). So do not compare our prices with any other city that has NO new space to develop.
#3The majority of old Toronto homes owned by baby boomers will be up for sale starting within 10 years and there is not enough people in this city to buy them at the price they are today let alone in 10 years.
#4Toronto has never had so much "out" side money invested in real estate as it has today. The amount of money put into houses/condos (no difference because it is all real estate)
#5 Tick....Tick....Tick......
#6The late finance minister told his kids the worst thing they could do right now is invest in real estate.
#7Only recently on facebook have I been getting foreclosure investment postings or turn over postings. That would be advertising meant to take advantage of a situation.
Amy Jordan / August 20, 2014 at 01:19 am
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That condo looks amazing and it should be with the given rates. But I am pretty sure that this place is worth the rates. I have been planning to buy a condo, not something this expensive, as an investment. But then I heard that investing in condos doesn't have the same benefit as before. See this article http://american-reia.com/is-it-worth-buying-into-the-toronto-condo-market/

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