Two Old Mill, 2 Old Mill Dr: Terraces Over the Park, Fees That Doubled

Two Old Mill is the smaller of Tridel’s two buildings at Bloor and Old Mill Drive, and the one I steer buyers toward when outdoor space is high on the list. It steps down toward the park beside it, which gives many suites real terraces, and its larger plans reach penthouse size. You pay for that: it is the most expensive building per square foot in this pocket, and its fee is a long way above what buyers were quoted at launch. I’m Jatin Dua, RE/MAX Quantum Realty.

The second, shorter half of the Old Mill pair

Tridel built One Old Mill and Two Old Mill together, both designed by Kirkor Architects and Planners. Two Old Mill is two storeys shorter than its sister, and The Globe and Mail’s launch coverage put it at 217 suites; condos.ca now lists 215, a small change of the kind that often happens between launch and registration.

The same coverage reported that the first phase was about 80 per cent sold and that Two Old Mill reached half sold within two weekends, which the sales team put down to how little new condo supply this part of the west end had. That scarcity has not really changed. The streets around here are still mostly houses and low-rise apartments, which is why these two buildings hold their value.

Outside, it is cream stone with black window frames, matching One Old Mill. UrbanToronto’s 2015 progress report noted temporary balcony barriers on the upper floors awaiting permanent railings; that is normal at that stage, and the building has been occupied since later that year.

Daily life here is a mix that is hard to find elsewhere in the city. The Bloor West Village shops, cafés and the Humber Cinemas are a few blocks east, the historic Old Mill Inn and the Humber River trails are a short walk west and south, and the Kingsway’s shops are across the valley. For a downsizer leaving a house nearby, nothing about the weekly routine has to change.

Terraces toward the park, and plans that run large

The defining design move is that the building terraces down toward the park and green space beside it. That creates private outdoor space on a lot of suites, and from the upper terraces, views west toward the Humber. If outdoor space is the reason you are looking here, the terrace suites are the ones to target, and they are the ones that hold their value best.

At launch, Tridel said many of the one-bedroom-plus-dens would be around 780 to 800 sq ft with two full bathrooms, against a typical one-bedroom of about 650. That is a smart plan for a single buyer or a couple who wants a guest bathroom and a real office, and it is worth asking for by name when you book showings.

At the other end, the larger two-bedrooms and penthouses were offered with engineered wood floors and upgraded kitchen cabinetry, and some include a breakfast area or family room. Strata.ca lists the largest suite at about 2,850 sq ft, and ceilings at about nine feet.

Amenities and the rooftop

Listings and building profiles describe a 24-hour concierge, an indoor saltwater pool, a sauna, a gym and yoga studio, a party and dining room with a kitchen and bar, a media room or theatre, a games room, a business centre, meeting rooms, a visitor lounge, guest suites and visitor parking.

The rooftop terrace was designed by Janet Rosenberg & Studio as a planted green roof with mostly native species and rainwater irrigation, and it won a 2018 Green Roofs for Healthy Cities award. Launch coverage mentioned a fireplace, lounge and dining areas, and a CN Tower view. Strata.ca describes the rooftop as shared with One Old Mill; ask how that is managed between the two corporations.

The fee story: what launch buyers were told

When Two Old Mill was being sold, The Globe and Mail reported projected fees of about 51 cents per square foot, individually metered utilities and parking sold separately on select units. Today, condos.ca’s figures for current listings work out to roughly $1.30 per square foot. Even allowing for rough suite-size bands in that calculation, fees have more than doubled since launch.

Condos.ca lists the fee as covering common elements, building insurance, parking and water, and not heat, hydro or air conditioning. Strata.ca shows no inclusions at all. Either way, expect to pay hydro and likely your own heating and cooling on top. Ask for the five-year fee history and what the reserve fund study projects next, because that trend, more than the price, will decide whether this building is right for you.

Pricing: the top of this pocket

Condos.ca puts Two Old Mill’s average at about $1,048 per square foot, a little above One Old Mill at about $997 and well above older buildings nearby, such as The Southampton in Swansea at about $659. You are paying for newer Tridel construction, terraces and a location between Bloor West Village and the Humber valley.

There are five active listings at the time of writing, from one-bedrooms to a two-bedroom, asking roughly $518,000 to $1,199,000. The one-bedroom-plus-dens alone span a wide range, which tells you how much floor area, terrace size and bathroom count move value here.

With nothing listed for rent and only 215 suites, supply is thin, especially for larger suites. If you want a terrace two-bedroom or a penthouse, set an alert and expect to wait. Larger suites also tend to sell to local buyers who have been watching the building for a while, so being pre-approved and ready to view quickly matters.

Building specifications

Amenities at Two Old Mill

A full club package in a 10-storey building: pool, gym, theatre, dining room and a planted rooftop. In a building this small, it rarely feels crowded.

Jatin’s honest take on Two Old Mill

Two Old Mill — frequently asked questions

Looking at High Park-Swansea more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.