It’s only six days into the new year, and Toronto’s pre-construction condo market has shown no signs of a slow start to 2022.
Today, 252 Church, one of the latest downtown projects from CentreCourt, virtually launched its sales. Zonda Urban, formerly Urban Analytics, verified to Livabl that 252 Church is the first condo project to launch in Toronto and the Greater Toronto Area this year.
“We’re excited to kick off the year with the first AAA+ project launch in downtown Toronto,” Bader Elkhatib, vice-president of CentreCourt, told Livabl. “252 Church Condos is 100% downtown and purchasers, along with the broker community, have taken note. Given the high level of excitement in the market, we’re looking forward to another successful launch.”
On the heels of 2021, dubbed the “Year of the Condo,” Elkhatib noted that Toronto’s new construction market is hot, with several projects anticipated to launch in the coming months. Following a return to offices and in-person learning in the fall, renter and purchaser demand increased, sending condominium rents to a “healthy level of growth,” in Q3-2021.
Elkhatib said that there’s been a “sudden uplift,” in the demand for downtown condominium new construction projects, with buyers placing value on building amenities and access to both work and entertainment options.
“We expect a very busy Q1 with several launches taking place both in the 905, outer 416 and a handful of launches in downtown Toronto,” he said.
252 Church marks the fourth condo launch by CentreCourt since the onset of the pandemic according to Elkhatib. While taking “utmost caution,” during the sales process, the vice-president said that CentreCourt has been innovating new ways to generate buzz about its projects. This includes 199 Church’s first live streamed, in-person drive-in project launch in Toronto that took place in July 2020, and the “PRIME on Wheels,” campaign for PRIME Condos that ran in April 2021.
CentreCourt was also behind the mysterious flock of helicopters that flew over Toronto in mid-August, which was discovered to be a platinum event for the WestLine Condos project that launched sales in September.
Located at Dundas and Church streets, the 52-storey 252 Church tower boasts proximity to downtown’s array of amenities and attractions, including Yonge-Dundas Square and the Eaton Centre, plus local universities, major tech offices and the financial district. A total of 681 units will be included in 252 Church, ranging up to 720 square feet in size. Pricing starts from the mid-$500,000s.
Future residents will have access to a 1,600 square-foot co-working space and a 5,600 square-foot, 24/7 gym facility with a Peloton lounge and CrossFit studio. A golf simulator, dog run, gaming lounge and a 24-hour concierge service is also slated for the project according to information on BuzzBuzzHome.
“252 Church is all about location. It is one of the last major corners along the Church Street corridor and arguably the one of the best locations east of Yonge Street to come to market in a very long time,” said Elkhatib.
