Category
Neighbourhoods
Date
May 24, 2016
There is a large redevelopment occurring in Toronto that we want to discuss today. We are talking about the Alexandra Park area, which is currently undergoing a mass revitalization. Prior to the 1990s, this area was rife with crime, substance abuse, and other social ills. But, in the 1990s, the area underwent a small redevelopment, and in 1998 became Canada’s first social housing co-op operated by its own tenants.
This sense of control and ownership has done miracles for the Alexandra Park community.
And now, another round of revitalization is underway, and we are here to tell investors how they can get in on the ground floor.
Alexandra Park Revitalization: A Primer
Alexandra Park consists of two areas: the old and new. The older section of Alexandra Park is composed of privately-owned residences; whereas the new portion is home to the Atkinson Housing Cooperative. The latter area is undergoing a 15-year, two-phase, redevelopment into a massive mixed-use neighborhood. Check out the master plan:
This extensive revitalization includes an 18-acre area with newly developed public spaces, retails shops, and 1,500 privately owned residential units.
Alexandra Park phase one, which is slated to end in 2019, will include 61 rent-geared-to-income (RGI) units, two condo buildings, and a number of street extensions. Check out a cool time-lapsed video of the phase one demolition here.
The first of these condominium projects is SQ by Tridel, but more on this later.
In terms of location, it’s hard to do much better than Alexandra Park, which is located in the heart of downtown Toronto. Indeed, Alexandra part is directly next to the Fashion District, Entertainment District, Kensington Market, Chinatown and much more.
Alexandra Park Tridel Developments: What You Need To Know
“To be sure, the overall shape of SQ, like its façades, is rhythmically vigorous, rising by stages from a short element, through a mid-height level, to its full 14-storey stature. But it will go into an equally vigorous part of town – on the Queen Street strip, near Chinatown and the University of Toronto, and at an intersection served by excellent transit connections.” The Globe And Mail
The ground floor of this huge transformation is the SQ (Spadina Queen) condominium development by Tridel. For condo investors, SQ is really the first stage in the over decade-long revitalization of Alexandra Park.
With the success of the first phase of SQ, Tridel is back at it with SQ2. This is the second stage in a grand production that’s revitalizing Alexandra Park. SQ2 is designed by the award-winning Teeple Architects with amenities that include steam rooms, hot tubs, outdoor terraces, a theater, and much more.
SQ2 offers one, two, and three bedroom condos starting in the high $300,000’s, with occupancy in Summer 2018.
And you can’t get a better area than Queen Street West, a gentrification gem in the middle of it all! In fact, Vogue recently announced that Queen West is the second “coolest neighborhood in the world.” How’s that for publicity?
As you can see, SQ and SQ2 are the first stages in the amazing revitalization of Alexandra Park. This transformation includes not only SQ, but a number of green spaces, retail shops, commercial space, and much more. Tridel, one of Toronto’s most acclaimed builders, is giving you the opportunity to get involved in this prime downtown real estate.
Get in touch with us today to learn more.
Ryan Coyle, Co-Founder CONNECT Asset Management