Nestled next to the historic domed Lady of Lourdes Church on the east side of downtown Toronto stands The 500.
Builders hope it will become a major part of the area’s renaissance.
“This project was instrumental in helping to spearhead the rejuvenation of a prime downtown neighbourhood,” says Elmar Busch, Times Group director of marketing and builder of the project located on Sherbourne Street just south of Bloor.
“Rejuvenation” is a key word as condo projects such as this are leading the way into the future of neighbourhoods in transition.
Condo buyers are hot for these new buildings, which bring a sense of refinement to established, character-filled neighbourhoods.
The distinctive elegance of The 500 greets you the moment you step into the Italian porcelain and walnut wood-clad lobby with its striking, 18-ft. water cascade and two-storey ceilings. (The two-bedroom tower suites range from 837 sq. ft. to 1,360 sq. ft. and are priced from $390,000 to $668,000.)
Proceed to the fifth floor and enjoy a rooftop garden complete with gathering spots, stylish outdoor furniture and several barbeques for open-air entertaining.
In keeping with area’s revitalization, the project is adjacent to a European-style urban park featuring a one-acre formation of fruit trees reminiscent of the orchards once planted in the area.
Another case in point is Eleven Superior, which like 500 Sherbourne, takes its name from its street address.
At the condo’s special preview opening, Graham Chalmers, owner, Davies Smith Developments, said the area’s planned rejuvenation was essential to the go-ahead of this project.
Over the years, the Mimico area of Etobicoke has taken its shots. But the area’s location — it’s a three-minute walk from the waterfront and a 10-minute walk from downtown — has the developer believing it’s an area primed for future development.
Also, a Mimico revitalization plan is in the works that includes a new bike path along Mimico’s waterfront and the extension of Superior Avenue with pedestrian-friendly access running all the way down to the lake.
“If the political will was not there, we would not have gone ahead with the project,” he says.
