In some ways the architecture of the 62-storey property reflects this historic moment, with Gothic elements that reflect New York’s early skyscrapers
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Publishing date: Oct 09, 2019 • October 9, 2019
When developers for 11 Yorkville hosted a presentation last month, more than 1,500 real estate brokers attended — rather desperate math given that the luxury condo has only 593 units.
Then again, since One Bloor was announced in 2007 buyers have been literally lining up to secure spots in the neighbourhood. And a decade or so later, space to build smack in the city centre is running out.
Across the street from the 75-storey tower at the southeast corner of Yonge and Bloor Streets (completed in 2015) is a construction site for The One, an 85-storey, 416-unit project with high-end features including an infinity pool, a virtual sports area and gardens and terraces. Just north on Yorkville Avenue, work is underway on 33 Yorkville by Cresford, and 1 Yorkville by Bazis and Plaza.
Prices reflect the demand: A penthouse at another Yorkville Avenue development, the Four Seasons Hotel and Residences, recently sold for $23 million — making it one of the most expensive sales in the country.
The opposite of nouveau riche
Thus the willingness of brokers to elbow into that presentation for 11 Yorkville, a joint effort by Metropia, RioCan Living and Capital Developments.
“No one else will be building between Yonge and Bay after this,” says Howard Sokolowski, CEO and chairman of Metropia.
In some ways the architecture of the 62-storey property reflects this historic moment, with Gothic elements that reflect New York’s early skyscrapers. But interior designer Elaine Cecconi says the building is not meant to trumpet its status as the last high-rish in the hood either.
While there are suitably luxurious amenities — a hammam spa, a chef’s kitchen, a piano lounge, an indoor-outdoor infinity pool and services such as personal shoppers — the property should convey “a quiet appreciation of the finer things in life,” she says.
“It’s highbrow – but not in a snooty form. Old world versus new world money – the opposite of nouveau riche.”
The developers will leave two of the heritage buildings on the street intact: the old Toronto Library and Yorkville’s fire station, with its iconic clock tower. And they are contributing to green space with a 14-metre-wide park by landscape architect Janet Rosenberg and Studio. It will front the building’s retail space (for now, the retailers’ names are under wraps) and serve as a link between Yorkville and Cumberland Street.
Sokolowski is also acutely aware of his role in the area’s shift from one-time hippie haven (in the 1960s, one MPP famously called the street “a festering sore in the middle of the city”) to the condo equivalent of the Bridle Path or Rosedale.
He counts 11 Yorkville as one of the most prestigious projects in his 35 years of development in the city and says, “It’s a daunting project because of the responsibility.”
Suites range from the mid $600,000s for a 400 square foot unit to $2 million for 1,140 square feet. For more information visit the presentation gallery at 21 Yorkville Avenue 11yorkville.com.
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