The hotel/condo thing did't work for Toronto – see 1 King West – so developer Amexon is trying out a more likely model: a condo that behaves like a hotel.
Construction has begun on 488 University, a 55-storey condo tower being built on the site of the old 480 University at the northwest corner of University and Dundas, and when it opens in November, 2017, it will include something called Sky Club. It's a bit of a shtick, but it may also move the bar on condo amenities in the city. Sky Club includes the regular social space and a fitness centre. They've got a pool too, but it's saltwater, and they throw in a spa, a restaurant, a bar and a concierge, all open to residents and their guests.
It doesn't go as far as it might in staving off the grand privatization of the downtown core – condos with bars and restaurants and rooftops open to the public would be much better – but by explicitly inviting guests to take advantage of what's essentially a gym/spa, it goes a little further than most.
Fifty-five of the 453 units will be three-bedroom – also a step in the right direction – but families looking for space to raise their children in condos will still have to come up with a minimum of $750,000 to do it in this building.
The tower was designed by
Deni Poletti of CORE Architects, with interiors by Dan Menchions of
II x IV and will be incorporating everything but the façade of the old structure into the new tower. Along with the RCMI down the street at 426 University, 488 could very well liven up University Avenue and encourage more retail along what's now just hospital row.
Amexon is planning on signing up a restaurant, a cafe and what spokesman Jason Shiff refers to as a “gourmet food store” to occupy the base of the building.
Writer: Bert Archer
Source: Jason Shiff