As the Greater Toronto Area continues to grow with new construction developments, it reinforces how the city is continually evolving into a center of sophistication, diversity and culture. And with an increased shortage of detached homes and townhouses, more buyers are turning to the condo market.
With many area homes averaging over $1.5 million, condo developments are proving to offer more for tenants. One of the key features to owning a condo in Toronto is their proximity to work, restaurants, activities and shopping, as well as the freedom from the long and tedious commute that many Torontonians face every day.
The condo market is in high demand and that means business is booming for top real estate developers around the GTA. There are plenty of builders in Toronto with years of experience and knowledge, and since a condo is as good as its developer, here’s a short list of reputable companies to choose from.
Daniels Corporation: Daniels Corporation is a reputable developer that has been building vibrant communities across Canada for over 35 years. The company is known for building condos, but they also do plenty of low-rise structures. They bring plenty of the luxury low rise features and finishes into their high-rise projects and have built Festival Tower at 80 John, Limelight Condos as Square One and Cinema Tower at 21 Widmer. Daniels Corp. is currently working on The Logan Residences, a new mixed-use condo development located on the south side of Queen Street East between Morse Street and Logan Avenue in the heart of Toronto. This condo is in the pre-construction phase and is planned to encompass 69 units spanning 6 stories.
Mizrahi Developments: Toronto’s Sam Mizrahi founded Mizrahi Developments in 2008 with a desire to enhance the changing cityscape of Toronto. The company started by building luxury homes and then further developed into constructing custom luxury condos. Today, Mizrahi Developments has broken ground on The One located at the southwest corner of Yonge and Bloor Streets. Expected to be the tallest building in Canada when completed, The One will reach roughly 306 meters in height and will have 85 stories that will include flagship retail, restaurants, a hotel, and luxury condo suites, with four four-story penthouses up top.
Menkes Development: Menkes is relatively new to the industry, building in Toronto for just over five years. They are known for their exquisitely designed hotels and commercial buildings, but have also been successful in creating luxury condo developments featuring state-of-the-art amenities at prime locations. Menkes is working on several projects including the construction of Sugar Wharf Condos located at 95 Lake Shore Boulevard in East Toronto. The project is scheduled to be completed in 2022.