When it comes to seeing a healthy ROI on pre-construction condos in Toronto, it starts with choosing the right people for the job. Certainly, there are various condo developers in Toronto. But, the question is, which one is right for your project?
In no particular order, here are 9 of my favourite Toronto condo developers, all of whom get the green light from us here at Precondo.
Daniels
Daniels is one of the most reputable condo builders in the real estate market. They have received Toronto Arts and Business Award and Toronto Urban Design Award. Daniels builds incredible dream condos, and they do plenty of low-rise high-quality buildings as well.
Moreover, bringing a lot of features and finishes, Daniels high-quality projects are always more spacious suites. For instance, one of their most luxurious buildings includes Festival Tower, located right in the middle of Toronto’s entertainment district.
What Daniels Corporation has built:
- Boulevard
- The Jackson Towns
- Evolv Rentals
What Daniels Corp is up to:
- Daniels MPV
- Wesley Tower at Daniels City Centre
- Kindred Condominiums
Concord Adex
Concord Adex is one of the most well-funded and best developers in Toronto. They specialise in large master-planned communities in Toronto. Likewise, their project Canada House located at 23 Spadina Avenue is a beautiful complex. Also, they have a City Place community in Downtown Toronto.
What Concord Adex has built:
- The Gloucester on Yonge
- The Lakefront Condos
What Concord is up to next:
- Concord Sky
- Concord Park Place: Block 7
Pinnacle International
Pinnacle is a top-tier real estate developer in Toronto and has completed many high-rise, mid-rise condos and commercial developments offering the luxury to view the beautiful Toronto’s skyline. Similar to Concord, Pinnacle is a very well known builder in Vancouver and has been making its mark in the city over the past few decades as well. Additionally, Pinnacle is famous for its properties around Pinnacle Centre & Pinnacle Centre I, and Union Station – 33 Bay at Pinnacle.
Furthermore, they’re well-funded condo developers. Likewise, their projects complete generally without much delay. Besides, most importantly, all of their projects are built with a remarkable level of quality and stand the test of time. Pinnacle often prices its projects very competitively. Thus, this makes their real estate developments in Toronto the safest of investments when combined with their self-financing structure.
What Pinnacle has built:
- Pinnacle Grand Park
- The Ritz in Vancouver
- The Pinnacle on Adelaide
What’s in Pinnacle’s Pipeline:
- Pinnacle Toronto East
- Torino – Pinnacle Living at Capstan Village
Great Gulf
Great Gulf is the recipient of many awards and one of our favourite condo builders in the Greater Toronto Area. They have completed a number of real estate projects with a breathtaking view of the Toronto skyline. Moreover, they have their luxurious condo developments in Alberta, Texas, Florida, and Washington.
What Great Gulf has built:
- One Bloor
- Charlie Condos
- Monde Condos
What Great Gulf is up to:
- 357 King
- Yonge + Rich
- Home on Power
- Forma Condos
Diamante
Diamante may not be the largest or the most well-known condo builder on this list. Evidently, they’ve built some of the best and most unique developments in the Greater Toronto Area and have been a great developer for our clients to invest with.
For example, the suite layouts and incredible opulent standard finishes make their Italian roots evident.
Therefore, focusing on quality over quantity has allowed them to bring some of my favourite luxury developments to the market. Diamante’s landmark Development at Davenport & Bay, The Florian, actively trades resale at over $1300 Per Square foot, putting it in Toronto’s ten most expensive condo buildings.
What Diamante has built:
- The Florian in Yorkville
- Domus
- The Royalton
What’s coming up for Diamante:
Urban Capital
is one of the top condo developers in the city. They’re not as well known as the others on this list. However, they’ve been around for some time now after starting their first building in 1996. This was the creation of 48 units dubbed the Camden Lofts.
Over the years they have proven to be a reliable, albeit smaller builder, who gets their projects done on time and to an exceptional standard. So, since starting in the 90s, they’ve completed over 3,500 condominiums and currently have over 1000 under construction, coming in at just over $2 Billion in development.
Although Urban Capital is small compared to some of the guys here. But, their track record speaks for itself and they have some exceptionally priced developments from time to time.
Small compared to some of the guys here, but their track record speaks for itself and they have some exceptionally priced developments from time to time.
What Urban Capital has Completed:
- Gorsebrook Park
- Charlotte Lofts at 36 Charlotte St
- Tableau Condominiums at 125 Peter St
Urban Capital’s Next Developments:
- M3 Condos by Rogers at Square One
- Kingsway By The River In Etobicoke
Menkes
has completed around 40 residential living spaces and has over 70 years of experience in condo development. Further, their builds include many condos with a mix of single-family homes, detached houses and semi-detached houses and plenty of high rise condominiums.
Also, they are the real estate developers for the Four Seasons Private Residences, the most luxurious condo developments in Toronto. Well versed in development and well funded, they are the ones who even mention the pre construction options on the ground floor.
Some of Menkes notable builds:
- The Four Seasons Private Residences
- Harbour Plaza
What’s up next for Menkes:
- Sugar Wharf at LCBO Lands
- The Whitfield
- Adagio
Tridel
No surprise here. If you follow the Toronto Condo market at all, you know who these guys are. Tridel is among the best condos developers. In addition, Tridel has a reputation for completing projects on schedule and its properties sell successfully at both pre-construction and resale.
They always get complete in a timely manner. Furthermore, the build is always high-spec, and has excellent customer service.
Their Ten York project offers stunning lake views. Thus, it makes them one of the best condo developers who can build a dream condo in every next project.
What Tridel has Built
- Aquavista
- Royal Bayview
- Westerly
What Tridel is up to:
- Signature Series
- Classic Series
- Aqualuna
- Lakeview Village
Centrecourt Developments
CentreCourt Developments constructs residences near the most iconic attractions and neighbourhoods in Toronto. They are among the most active developers in the GTA and have multiple projects underway. However, it has the proper team to ensure that all projects are completed accurately from beginning to end.
What CentreCourt has built:
- 411 Church
- Transit City
- Peter Street Condos
- INDX Condos
- 8 Wellesley
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To Sum Up
In terms of minimising potential losses, the developer is the most crucial factor in any pre-construction purchase. Certainly “location” has always been the top priority in buying any home, I’d still put location at a strong number two behind the condo developer.
Some of the many questions you need to ask yourself as a potential investor include:
- Will the project have good resale value?
- What is the completion time and are delays expected?
- How quickly will it register?
- Will it be built if it doesn’t sell well?
The closest thing to a guarantee you’ll get to any of these questions is buying with any of these reputable condominium developers.
When faced with the option of purchasing a pre-construction condo at two nearly-identical developments, I’ll gladly pay a 10% premium to purchase from a developer that I have just mentioned above, compared with a first-time developer or a developer with a hit-and-miss track record. Their remarkable quality of project will surely stand the test of time. The condominium buildings and projects are uniquely designed and constructed at many busiest intersections of the city.
Have any questions about the Toronto condos project in downtown Toronto, North York or any other areas? Feel free to get in touch and the Precondo team will get back to you.
References:
- Joannah Connolly, Developer files application for 54-storey downtown Vancouver tower (IMAGES), retrieved from https://www.vancourier.com/real-estate/developer-files-application-for-54-storey-downtown-vancouver-tower-images-1.23459188
- Colliers International, Colliers International Partners with HOOPP and Menkes to Manage Leasing of Award-Winning AeroCentre Buildings, retrieved from https://www.globenewswire.com/news-release/2017/09/12/1118354/0/en/Colliers-International-Partners-with-HOOPP-and-Menkes-to-Manage-Leasing-of-Award-Winning-AeroCentre-Buildings.html
I am looking forward to the 1+den and 2+den condos in down town Toronto near to the universities.
What about Options for Homes. People shoukd know about them too.
I’m interested in investing in a property in mississauga. Do you have any available in that area?
I’m interested in a good pre construction project in TO downtown.
To any condo developer:
In the vacany lot bounded by Rathburn, Living Art Dr. and Square One Dr. please duplicate a suite EXACTLY like the “NEWCASTLE” model in unit 10 of 385 Price of Wales Drive, I will buy one or two on high floor. Please do not install balcony swing door as in unit 10 of floor 32 to 36, it is a puzzle why swing door was installed instead of sliding door as in floor 9 to 31, swing door can be smashed by wind and resident may get locked outside in the balcony and freeze to death.
The floor plan of Chicago Condo’s “NEWCASTLE” suite meets my search criteria so well in all aspects that I can call it my “dream condo”, but future development of Amacon to the west of the Chicago condo will obstruct my southwestern view. I am searching for a new condo to purchase and have done extensive research on floor plans in all available Mississauga condos. While Pemberton’s “Kylan” model in the Mills Square Condo at the tentative address of 4677 Glen Erin Drive could be a dream home there are several negative aspects about it: Ugly and insipid faucets (I prefer traditional Delta brand), tight kitchen counter space against the wall, redundant and useless Island (I would put a dinning table there instead of it), inconsiderate floor plan of bedroom adjacent to bathroom of neighboring unit may cause noise problem and the location is not my favorite.
Important criteria in my search:
I have a 120-inch projection screen which requires at least 13 feet of projection distance, so a den opposite to the living room wall is essential.
A right handed bathroom layout exactly as in the “NEWCASTLE” suite is sacrosanct, I hate layout with mirror image to it.
If the NEWCASTLE suite will be modified to a one bedroom plus den with 2 bathrooms, it will be more than perfect for me should I need a live-in home care worker in my old age. (See my dream condo floor plan I named “THE CASTLE”)
I hope ground breaking will happen very soon as I am a retiree who may not has much time to enjoy life. I will offer $500K to $600K and pay 100% cash in the purchase from my stock investment which can potentially worth $millions.
https://www.google.ca/maps/place/385+Prince+of+Wales+Dr,+Mississauga,+ON+L5B+0C6/@43.5896314,-79.6502729,831a,35y,1.92t/data=!3m1!1e3!4m5!3m4!1s0x882b472aa34435cb:0x4182459b4f121bce!8m2!3d43.588365!4d-79.649125
THECASTLE suite in Chicago Condo
https://oi8.photobucket.com/albums/a12/timmy3000/Dream%20condo..jpg
My conceptual dream condo
https://oi8.photobucket.com/albums/a12/timmy3000/My%20dream%20condo.jpg
How about an article about the worst condo builders? Those that do a bait and switch by showing a beautiful model but don’t “deliver”?
Things i’ve learned as a 1st time buyer: In Ontario you can move in as soon as the developer can release the units…but keep in mind you will be paying a rental which does not go towards your final owing amount. This continues until the building is registered.
Developers these days love to attract buyers with amazing amenities but don’t care if those amenities cause you personal disturbances. Example: Gym on top floor looks amazing but those living below it are constantly hearing loud bangs from people dropping weights.
We have a squash court so the developer added a basketball net and calls it a basketball amenity. The thumping from the court drove us crazy which we had to bear until the building was registered and a board was voted in.
Children’s play room access from the hall is also where the townhomes are. Children screaming and running up and down the hallways. No bathroom inside the play area so parents let their children go running down the hall on their own.
Dog play area…sounds great unless your balcony faces the area. Barking dogs, smell of urine & feces..not good.
Our building “model” showed pathways to the townhomes that were done with paving stones. What did they end up doing? Asphalt that looks terrible. The beautiful lawns they showed on the model? Doesn’t exist. It’s weeds & gravel. They informed us after we moved in that they do not own that land so they are not responsible for it…So why did they not say that in the showroom? Oh right…it was probably in the fine print somewhere.
Open access to yard area….great for homeless to get into the stairwells and for the public to use the dog park, children”s playground. It took months of complaining for the builder to put up a gate to restrict access.
Outdoor theatre? Sound great in theory but it has never been used. No seating. No idea how people would be listening to the movie. Oh and of course you can’t see the screen until it’s dark out so residents facing the area would be disturbed.
Car wash…more like a hose and a low end vacuum.
Now that the building is registered the builder has moved on to the next project leaving the board to deal with all of the complaints.
Buyer beware.