Continuing strong demand for transit-oriented residential developments in downtown Toronto has prompted Reserve Properties and Westdale Properties to quickly move ahead with the second tower at their Line 5 Condos development at Yonge and Eglinton.
The developers say the 450 units in the first tower have sold out, and they’ll launch sales of Line 5 South Tower early this year. The site is located at 117 and 127 Broadway Ave.
“One of the reasons Reserve and our partners at Westdale believe so strongly in Yonge and Eglinton is the transformative power of the LRT,” said Reserve Properties chief operating officer Shane Fenton in a release. “There are only a few intersections in the entire city that offer rapid transit in all four directions. We have every expectation that Yonge and Eglinton will emerge as the new centre of the city as well as both a cultural and mobility hub.”
Westdale “returns” to Yonge, Eglinton
Line 5 South Tower will feature 426 one-, two- and three-bedroom suites with prices starting from the low $400,000s. Phase 1 of the project (the towers are 36 and 33 storeys on an eight-storey podium), went on sale in fall of 2018.
Construction is projected to begin late in 2019.
“Westdale Properties is thrilled by the success of Line 5’s first tower. It’s a testament to our long-held belief in Yonge and Eglinton. We were one of the first to invest in the neighbourhood when we began our 88 On Broadway project in 2005,” said Mitchell Cohen, chief operating officer of Westdale Properties, in the release.
“By partnering with Reserve on Line 5, we’re returning to the community and continuing to push it forward. With Line 5 South, we’re giving purchasers another chance to experience life at Yonge and Eglinton.”
Yonge and Eglinton is a neighbourhood undergoing intense densification, with a dozen or more multi-residential and mixed-use type projects taking place within walking distance of the intersection. Many more developments are taking place in the surrounding areas.
Reserve and Westdale promote Line 5 as an example of the shifts in urban living. “From transit and ride-sharing to the rise of online shopping and the decentralization of the workplace to the hyper-focus on health and wellness, the way people live in 2019 is radically different to how people lived even five years ago,” the companies say in the release.
Amenities at Line 5
The Line 5 condos offer a dedicated ride-share pick-up, oversized parcel storage, and hot and cold storage in the lobby to accommodate online food order deliveries.
As with the first tower, Line 5 South Tower will be clad with high-contrast metal, mesh, and natural materials.
Inside, an oversized lobby will be reminiscent of a boutique hotel with inviting furniture for work or meetings and a juice bar.
“Throughout Line 5’s shared amenities and common areas, we layered a sophisticated and dynamic mix of materials to create eclectic experiences,” said Kelly Cray, principal at U31, in the releae.
Line 5’s wellness suite includes a 10,000-square-foot fitness facility on the ground floor with dedicated spaces for on-demand interactive training systems, personal training, and yoga overlooking an outdoor Zen garden. A spa area features a steam room and saunas.
On the upper amenity floor, a co-working space and social club opens to a swimming pool. Shared spaces also include two communal kitchens, three outdoor lounges, an art studio, outdoor theatre, library lounge and outdoor game lounge.