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28 Eastern Condos By Alterra In Downtown Toronto

Property Rating

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Condo
12 storeys
Completion: 2024

Description

An exciting new condominium project is in the pre-construction phase for 28 Eastern Condos by Alterra, inspired by life in all its incredible variationsin.  28 Eastern will be a modern, 12-storey mid-rise residence with a planned occupancy date of 2024. This unique project will be right in the heart of the Toronto’s historic and beloved Corktown neighbourhood.

With 379 units in total, both condominium suites as well as townhomes on the ground level, 28 Eastern condos is set to bring a playful, fun new energy to the charming neighbourhood.

28 Eastern Condos Highlight:

  • Only 2 mins walk from Future Ontario Line Corktown Station
  • 6 mins walk from Corktown Common
  • 3 minss walk from Distillery District
  • 2 mins walk from Canary District
  • 9 mins walk from George Brown St.James Campus
  • 11 mins walk from St.Lawrence Market
  • King Streetcar at doorstep
  • Easy access to Highway DVP/Gardiner Expressway
  • walking distance to the supermarket
  • Close to Park and Playground.
  • short distance to Downtown Toronto
  • Walk Score of 96 out of 100 and Transit score of 100 out of 100
  • Nearby parks include Sumach-Shuter Parkette, Moss Park and Oak Street Park

28 Eastern Condos

Flanked by The Distillery and Old Toronto, Corktown is rich with heritage and architectural marvels. One of Toronto’s historic neighbourhoods, it’s in the midst of a rebirth, as an influx of new business infuses its historic streets with fresh energy, new shops, and new opportunities.

28 Eastern

Top 5 Reasons to Invest in 28 Eastern Condos

1.Location

Corktown is one of Toronto’s oldest neighbourhoods. A charming area with rows of 19th and early 20th century homes, the area is dripping with history and style. Recently becoming more popular with young professionals due to it’s relative affordability, the area is undergoing a revitalization especially within the last decade. 

28 Eastern Condos plans to build on the momentum of rejuvenation in the area, designing a vibrant F-Shaped Structure with geometric designs that will add to the neighbourhoods artistic, creative vibe. 

28 Eastern

From Queen Street East in the north, to Front Street in the south, 28 Eastern is located just north of the Distillery District, and just minutes west of the famous Don Valley Parkway. The area has an excellent Walk Score, with many amenities nearby like the St. Lawrence Market, and the 28 Eastern Commons which is an 18-acre park bordering the development. 28 Eastern Common is a dynamic park with a wide range of activities and experiences for the whole family. Some of these amenities and features include picnic tables, acres of lawn and even marshlands to reconnect with nature, plus a playground and splash pad for hot summer days and outdoor fireplaces for meet-ups and hosting events. 

Taking a stroll around 28 Eastern will delight and surprise. Get a morning cup of coffee at Odin, a nordic-inspired coffee shop, or have breakfast at the stylish Impact Kitchen. Take in the gorgeous architecture both new and old, with the Little Trinity Anglican church built in 1844 and the Enoch Turner Schoolhouse next door which now acts as a museum. Drive by the quirky Corktown Cubes, a modern-art fixture and landmark of the neighbourhood. Countless street art and mural designs will pepper your journey through the area – a testament to the area’s artistic identity. 

A highly pedestrian-friendly neighbourhood, the Distillery District just to the south is famous for little vintage boutiques, stunning industrial architecture, art galleries and installations, music festivals, and the Sunday Market, every week at noon.  

In addition to all these great neighbourhood amenities, 28 Eastern is also perfect for Students, due to being located very close to George Brown College’s St. James Campus. And that’s not all, Ryerson University is also very close by, being reachable by transit in under 30 minutes. 

28 Eastern Condos

2.Amenities

28 Eastern Condos is planned to be just as stylish and quirky as the neighbourhood it’s set in. An F-shaped building, 28 Eastern Condos will be 12 storeys tall and have playful geometric design to continue the unique design aesthetic of the neighbourhood. Terra-cotta-coloured framing elements will surround the lower half of the building while a darker, sleeker facade will rise up from that podium and add to the neighbourhood’s skyline.

With 14 townhomes along the tree-covered street level, the building will rise 12-storeys and contain a total of 367 condominium units. These units will range in size and layout and will include 255 one-bedroom-plus den units, 110 two-bedroom and two-bedroom plus den units, and 2 three-bedroom units. 

In addition, there will be an underground parking garage featuring 143 vehicle parking spaces, as well as 394 big storage spots. This is a highly bike-friendly neighbourhood, so the developers are trying to encourage residents to take advantage of the many beautiful nearby bike paths throughout the neighbourhood and the don valley. 

There will be retail space as well, making this a mixed-use development. This helps ensure that street life and activity in the neighbourhood stays vibrant and also that residents have access to amenities, services, restaurants and shops right from their front door. 

Residents will also enjoy a beautiful rooftop terrace with greenery and a quiet pedestrian courtyard – outdoor spaces perfect for relaxation, contemplation, and meeting friends. 

28 Eastern Condos

3.Transit Options

28 Eastern Condos is located very close to the Gardiner Expressway, which takes residents straight downtown, and further west. Easily travel through the downtown core to the rest of the “Golden Horseshoe” region of Southern Ontario, through Etobicoke, Oakville and Hamilton, or take the Don Valley Parkway north up through Scarborough and into the norther GTA.

The neighbourhood itself is highly walkable, with a score of 90 out of 100. If you’re looking to connect to the TTC, there are a number of options. The streetcar will run right past the building along King Street East, and will take residents straight into the heart of the city just a few minutes away. From there, the entire GTA is at your fingertips! Take the TTC Subway Line 1 or Line 2 to Union Station, or up north, east or west to all the distant corners of the city. 

Looking into the future, the city of Toronto has suggested new lines that will intersect with Corktown. A relief subway line that would have a stop just a few minutes away from the site. 

28 Eastern Condos

4.The Developer

Alterra is a prolific real estate developer within the GTA. Building inclusive, intelligently-designed communities for over 40 years, Alterra doesn’t just develop buildings, they strive to elevate the neighbourhoods they build in. By helping to shape the aesthetic of a neighbourhood, Alterra ensures that residents remain happy with their homes over the long term.

Led by the president and CEO Robert Cooper, the youngest ever recipient of the Home Builders Association Lifetime Achievement Award, Alterra approaches every development with the intent to first get to know the surrounding area. By gaining an appreciation of the character of a city block, a developer is able to create homes that fit in with the area’s own history. 

Working together with clients and the neighbourhood, Alterra is able to consider what the community already brings to the table. From there, they ask what a new building will be able to incorporate to enrich that neighbourhood. 

Through catering each development to it’s surroundings, Alterra has cultivated a varied, diverse portfolio of over 5,000 homes. Each project is different and tailored to the location across the GTA. And with their commitment to the highest standards in construction and material, these projects are built to be sustainable and keep families happy for decades.

28 Eastern Condos

5.Investment Opportunities

Condo development boomed throughout the 2000s and 2010s in the entertainment district just minutes to the west and in the centre of the city. Now that that development has become more dense, the surrounding neighbourhoods are next. We’re beginning to see new development priorities – community sustainability, and style, design and amenties proliferate throughout the downtown core.

Average selling price of pre-construction condos in Toronto is at a healthy high $400K range, meaning that despite all the existing developments, the hunger for new properties is alive and well and now is still an excellent time to invest in the projects throughout Downtown. 

So much of the downtown core of Toronto has been redeveloped, 28 Eastern was one of the last holdouts. Now that it’s being redeveloped in this way, it represents one of the last neighbourhoods within the core to go through such a radical transformation. It’s relative affordability, even after 10 years of rejuvenation has kept it attractive for students, professionals and families alike, and as this corner of the downtown continues to grow, it’s expected more and more people will be flocking to it’s highly convenient, yet charming nature.

Property Features

  • DEVELOPER: Alterra
  • ARCHITECT: Teepel Architects
  • UNITS: 379
  • UNIT SIZES: Studio to 3B+D
  • MAINTENANCE: approx. $0.59/sq.ft
  • PARKING: $79,000 only available on units 692sf and up ; EV PARKING $89,000
  • LOCKER: $6,500
  • DEPOSIT UNDER 850SF: $5,000 on signing ; Balance to 5% in 30 days ; 5% in 380, 600 days and Occupancy
  • DEPOSIT OVER 850SF: $5,000 on signing ; Balance to 5% in 30 days ; 5% in 450, 735 days and on Occupancy
  • ESTIMATED COMPLETION: Summer 2024


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