Two towers and 80 stacked townhouses will be built on an infill site surrounded by lush woodland and bordered by the Humber River.
THE PROJECT Kingsway By The River
DEVELOPERS Urban Capital and Northam Realty Advisors
SIZE 479 to 1,500 square feet
PRICE $350,000 to more than $1-million
SALES CENTRE 4210 Dundas St. W., east of Royal York Road. Open Monday to Thursday from noon to 6 p.m.; weekends from noon to 5 p.m.
CONTACT Phone 416-546-1721 or visit kingswaybytheriver.ca
Nearly a decade after building its luxury St. Andrew on the Green mid-rise overlooking a golf course on Mimico Creek, Urban Capital had to look just a short, five-minute drive east to find another rare infill site surrounded by lush woodland and bordered by the Humber River.
The builder will replace a Rona outlet on Dundas Street with two towers, 21 and eight storeys each, as well as 80 stacked townhouses amid 20,000 square feet of parkland abutting the Humber River.
"It's a fantastic location right on the banks of the Humber River, so the views are spectacular," says partner Mark Reeve, who teamed up with Northam Realty Advisors to create the project, called Kingsway by the River.
"One side of the tower faces the river and the other side is often the best side of a building facing southwest, so there really are no bad suites from a light and view perspective. And there's nothing that would develop around it to obstruct its views."
Buyers of these one- to three-bedroom plans will not only be able to savour the scenery through full-height windows, but also private exterior space.
"Every unit has an oversized balcony and a lot of units have large terraces," says Mr. Reeve, who notes penthouses may have rooftop space.
"And for the stacked townhouses, the upper units have roof terraces and the garden suites will have garden terraces, so the outdoor space is a large feature of the project."
Since presale events began late 2016, the developers have sold about 70 per cent of Phase 1, which will encompass 201 units in the taller tower and one- and two-storey townhouses within the mixed-use community at 4208 Dundas St. W., near Royal York Road.
"The market is largely driven by an empty-nester crowd, but we do have smaller suites to appeal to first-time homebuyers," Mr. Reeve states.
"There really isn't a lot of competition for this kind of product on the market. In fact, I can't think of one other project that's comparable to this in the area right now, which is probably why we're selling so well."
The pastoral environment will be offset with urban aesthetics and amenities, such as a lounge with a bar, a fitness centre and seventh-floor social space connected to a terrace with day beds and seating around a fire pit.
"The architecture we've done is a modern building by Wallman Architects, and we think it really reflects the international style. So it sits well within the natural setting of the area," Mr. Reeve exclaims.
Plus, the shorter 130-unit tower to be released will provide 30,000 square feet of retail space, complementing neighbouring businesses.
"It's a terrific location, right in the heart of the Kingsway," adds Mr. Reeve, who is also a local resident. "There's shopping within walking distance along Dundas and its reasonably transit-friendly [because] you're a short walk to the Royal York bus, which is a couple stops to the Bloor subway line."
Bryon Patton and Associates Ltd. dressed the two-bedroom model suite with some upgraded features, such as Miele appliances, which will be standard in the penthouses. All other units will have stainless-steel appliances as well as nine-foot ceilings in the principal room and upscale wood, quartz, granite and porcelain surfaces.
Units will come with parking and will be ready for occupancy starting in 2020. Monthly fees will be 49 cents a square foot, but half that for stacked towns, which will have street-level entrances.