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Verge Condos East Tower

By RioCan

1 Star2 Stars3 Stars4 Stars5 Stars (20 votes, average: 3.80 out of 5)
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1001 The Queensway, Etobicoke, ON, Canada



Platinum Access: Sales From $574,900 to over $1,114,900
Condominium
17 Storeys | 341 Suites
1 - 3 Bedroom(s)
476 - 972 Sq Ft
VIP Launch: 2021
Completion: 2025

Verge Condos is a new pre-construction condo development by RioCan Living. Coming soon to 1001 The Queensway in Etobicoke. The major intersection is at The Queensway and Islington Avenue.

 

VERGE PHASE 2, EAST TOWER COMING FALL 2021

Verge West Tower, the summer’s most exciting project, sold fast! RioCan Living is now inviting you to prepare for its highly anticipated Phase 2 due to overwhelming demand!

Verge East Tower is a 17-story high-rise condominium above The Queensway and beyond compare. Placing you on the verge of excitement and convenience, connections and opportunities, premium access and best-in-class amenities. Allow yourself to enter a new world of possibilities.

Highlights at Verge Condos

Verge Condos at 1001 The Queensway is located in the Islington-City Centre West neighbourhood in Toronto. Fronting on a large block that houses Cineplex’s flagship Queensway Cinemas (and its massive parking lot), the Milestones, Montana’s Cookhouse, as well as Kelsey’s restaurants do a strong business. Finally, RioCan strives to put the site to better use. Surrounded by mostly low-rise, suburban built form, especially with much of The Queensway currently dominated by rows of strip retail to the east and west.

  • Step to TTC Stop
  • Short Drive to Gardine express way
  • Close to School and Public community centre
  • Short Distance to downtown Toronot
  • Close to the Park and Shopping
  • Close to Islington-City Centre
  • Walk Score of 60 out of 100
  • Transit Score if 50 out of 100.
  • Nearby parks such as Queensland Park, Queensway Park and Winslow Dalesford Park.

Planning Process

The development was submitted late last year, and the planning process is now in its early stages. This is more an indicator of the massing model, which is subject to change as the proposal evolves.

Verge Condos is a mixed use development a total of two residential towers that have been situated on a 4-storey podium. The podium are separated by an 11-m wide driveway access into the site. 15,295 sq ft of outdoor amenity space is located in the central portion of the site.

The project’s tallest building—located closest to the intersection of Queensway and Islington—would rise to a height of 17 storeys, sharing a podium with a 12-storey building immediately to its west.

The Space Designed by Core Architects

The 588-unit development would include 31,000+ of retail area while fronting onto The Queensway—indicating that any of the restaurants or the bank onsite could return after construction—while a green space is planned in between the two four-storey podium structures. The residential lobbies for each building would be located at the south end of the podiums “in order to ensure an activated pedestrian realm along The Queensway” with new retail, the Planning Rationale states.

As currently proposed, the residential unit mix would include 69 studios (11.7%), 280 one-bedroom + den (47.6%), 227 two bedroom + den (38.7%), as well as 12 three-bedroom + den suites (2%). A two-level underground parking garage will feature a total of 591 vehicle spaces, which would be divided into 475 residential as well as 116 visitor/commercial spaces. 442 bicycle spaces are also proposed.

Verge Condos East Tower Property Details

    Developer(s): RioCan
    Architect(s): Turner Fleischer
    Building Type: Condominium
    Ownership: Condominium
    Building Status: Pre-construction
    Selling Status: Platinum Access
    Storeys: 17
    Suites: 341
    Suite Type: 1 - 3 Bedroom(s)
    Suite Size: 476 - 972 Sq Ft
    Launch: 2021
    Estimated Completion: 2025

Building Amenities

  • 1Valet Integrated Smart Living throughout all suites.
  • Hi-Speed Internet
  • Double Height Lobby with 24hr Concierge
  • State-of-the-art Parcel Room
  • Co-working Space
  • Pet & Bike Wash Station
  • Kid’s Studio
  • Fitness Studio
  • Two Interactive Private Fitness Studios
  • Golf Simulator
  • Expansive Terrace
  • Co-working Spaces and Cabanas
  • Lounge Seating & Fire Pits
  • BBQ’s & Outdoor Dining
  • Party Room and Kitchen
  • Games Room
  • Outdoor Terrace with Lounge Seating
  • Putting Green

Pricing & Fees

Price: From $574,900 to over $1,114,900
Cost of Parking: Included (Maintenance: $69.95)
Cost of Locker: $7,500.00 (Maintenance: $19.95)
Deposit Structure:
Extended Deposit Structure Only 5% per Year + 5% on Occupancy

1 BR, 1+D, 2BR Suites
• $10,000 due on signing
• Balance to 5% due in 30 days (2021)
• 2.5% due in 180 days (2022)
• 2.5% due in 365 days (2022)
• 5% due in 540 days (2023)
• 5% due on occupancy

2+D & 3 BR Suites
• $10,000 due on signing
• Balance to 5% due in 30 days
• 2.5% due in 180 days
• 2.5% due in 365 days
• 2.5% due in 540 days
• 2.5% due in 720 days
• 5% due on occupancy

International Buyer
• 5% due on signing
• 10% due in 120 days
• 10% due in 270 days
• 10% due in 365 days

Deposits payable to HARRIS SHEAFFER LLP IN TRUST

Current Incentives

OPENING WEEKEND ONLY – ONE LOCKER INCLUDED WITH ALL SUITES!

Extended Deposit Structure
Only 5% per Year + 5% on Occupancy

PARKING INCLUDED ($69,900 Value)
One parking space included for all suites 560 sq.ft. & larger.

LOCKER INCLUDED ($7,500 Value)
One above-grade and/or on floor storage locker included for all suites.

REDUCED ASSIGNMENT FEE
$5,000 $1,000 (excluding legal fees)

DEVELOPMENT, EDUCATION & TRANSIT CHARGES CAPPED
– One Bedroom & One+Den Suites – $12,000
– Two Bedroom & Two+Den Suites – $15,000
– Three Bedroom Suites – $17,000

OPTION TO LEASE DURING INTERIM OCCUPANCY

Location

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