Are you looking for a condo in the GTA that’s got everything? One that, after you slap that Toronto mortgage on, you’ll feel like a king (or queen) living in? Then there’s a development you have got to look at it. And it’s called appropriately, King Blue Condos.
King Blue is a two-tower development that will truly have it all. 807 units, 13,000 square feet of retail space at the street level, a theatre museum, a roof top bar, garden and pool (complete with palm trees,) and incredibly, it doesn’t come at a very hefty price.
The idea, says Steve Gupta, is that this is to be much more than housing. It’s to be a destination.
“I believe in Toronto,” says Gupta, who also says real estate in the city is “as strong as it’s ever been.”
That’s because, he explains, “We still have 100,000+ immigrants coming to the city every year and this new generation wants to live downtown, near where they’re working. That’s why the condo boom is going on downtown.”
And he plans to be a part of it. The King Blue Condos will be located in the heart of it all at 355 King Street W. The first tower to be built will be the South tower that’s 44-storeys high. The suites include everything from 400 square feet studios to 1,100 square foot units that have three bedrooms in them. These latter units will be reserved for families, and ten per cent of the suites will be barrier-free. This means that there will be few doors; and no stairs or other obstacles that a person in a wheelchair would feel difficult maneuvering around.
Those suites have been designed by Munge Leung. And while they may ooze luxury, they’re very affordable, starting at only $200,000 in a very hot Toronto market.
But it’s not just the suites that make the south tower special. Taking up the entire second floor of this development will be a charcoal brick theater museum that can be enjoyed by residents and visitors alike.
The north tower on the other hand, has plans all its own.
The first is to use the existing walls of the 1929 Westinghouse Building that currently stands there.
“We want to save the walls and build new ones behind them,” says Gupta. He knows that this will be more expensive but says that it will also “maintain the character and the heritage.”
There’s also going to be a rooftop bar on the north tower that’s open to the public; and an outdoor patio with a bar for residents only on the sixth floor.
A hotel is also being considered for incorporation into the north tower. But on that one, Gupta says he’s unsure.
“We’re keeping open, because the market right now is a bit saturated with the Four Seasons, Ritz-Carlton, Shangri-La, and Trump,” says Gupta. “We want to see how they’re going by the time we sell the first building. And then we’ll make a decision.”
But it’s also very possible that the space could be used for high-end boutiques. And that was the genius of Reetu Gupta, Steve’s daughter.
“I feel that there are all kinds of restaurants on King West, no sense adding another one,” she says. “But there’s no retail right now on King West. So hopefully we can bring 10 to 15 really good boutique dealers – some of the small, chic European brands that we don’t get right now in Toronto.”
The towers will be 20 meters apart and they’ll be staggered, so residents can still enjoy the full view.
Mr. Gupta says that his hope is that all of it “makes this a destination. At least that’s the idea.”
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