Charlotte Lofts, 36 Charlotte St: Small Loft Building, Hydro Included

Charlotte Lofts went up in 2002, when building homes in the Entertainment District was still a gamble, and it was one of the first residential projects on its block. Today it is a small, 63-suite loft building surrounded by towers three and four times its height. That contrast is the whole story: you trade amenities and views for a quiet, low-density building with one of the more generous fee inclusions downtown. I’m Jatin Dua, RE/MAX Quantum Realty.

An early bet on King and Charlotte

When Charlotte Lofts opened in the summer of 2002, the Entertainment District was mostly offices, clubs and parking lots. UrbanToronto, looking back at the corner as it stood in 2006, called the building arguably a rarity for residential development in the district at the time.

It was also an early project for its developer. Urban Capital co-founder David Wex has said Charlotte was the firm’s first project with partner Mark Reeve, coming after a high-rise venture he described as not their biggest success. Urban Capital went on to build a long list of design-led condos, and Charlotte is one of the buildings where that approach started.

The design is credited to Core Architects, the firm behind a good share of King West’s modern loft buildings. Expect a concrete-and-glass soft loft rather than a converted warehouse: floor-to-ceiling windows, private balconies and high ceilings are the features consistently reported.

Small building, small suites, no amenity tower

With 63 suites over 10 storeys, this is a building where you will recognise most of your neighbours within a year. One management listing describes it as 13 storeys; condos.ca and UrbanToronto both say 10, which is the figure I would rely on.

Suites run from about 512 to 1,056 square feet, so this is largely one-bedroom and one-bedroom-plus-den territory with a smaller number of larger plans. In a loft layout the bedroom is often semi-open, so check whether a den or bedroom has a door and a window if you plan to rent the suite out or use it as a real office.

The amenity list is short: a gym, a party room, a meeting room, a rooftop deck with a common room, and underground parking. There is no pool or concierge desk. For many buyers that is the point, because fewer amenities mean less to maintain and fund over the life of the building.

Hydro in the fee is the detail that matters

Most Toronto condos make you pay your own hydro. At Charlotte Lofts, condos.ca lists hydro as included along with heat, air conditioning, water, building insurance and common elements. One management company’s rental page also says utilities are included.

That changes how you compare fees. A newer building that looks cheaper per square foot may leave you with a separate monthly electricity bill and, in many cases, separately metered heating and cooling. Here those costs are pooled. The trade-off is that you share the building’s total energy bill, so heavy users are effectively subsidised by light ones, and rising utility rates show up as fee increases rather than on your own bill.

Parking is not listed among the fee inclusions, so if a suite comes with a spot, ask what it adds to the monthly fee or whether it is separately titled.

Living among the towers

The block around the building has changed completely since 2002. Great Gulf’s Charlie Condos opened across the street in 2012, Lamb Development’s Gläs Condos opened behind it in 2009, and Lamb’s 32-storey King Charlotte was completed on the east side of Charlotte in 2015. In 2017 a 46-storey rental tower was under City review for 46 Charlotte, immediately north of this building.

Being the low building on a block of towers cuts both ways. Lower-floor suites can lose sky and direct sun to the buildings around them, and some windows look straight into neighbouring suites. Upper floors and the rooftop deck fare better. Visit at different times of day and pay attention to which way the suite faces before you commit.

Ask what has happened with that 46 Charlotte proposal before you buy, because a tower next door affects light, views and construction disruption, particularly for north-facing suites. Day to day you are in the middle of the King West restaurant and theatre district, which is lively at night and on weekends. The automatic panel on this page covers transit, schools and walkability.

Price per square foot and what is on the market

Charlotte Lofts averages about $949 per square foot on condos.ca. That sits close to its sister building, Camden Lofts, at around $943, and well above the roughly $742 recorded at the larger SoHo Metropolitan condo-hotel on Blue Jays Way. Buyers are paying a premium for the small-building, true-loft format and the King and Charlotte location.

Fees across active listings average about $1.12 per square foot a month. That looks high until you remember hydro, heat and air conditioning are in it. Add a typical one-bedroom’s electricity bill back onto a building with a lower fee and the gap narrows considerably.

Supply is thin, which is normal for a 63-suite building. At the time of writing there were two one-bedroom suites for sale, asking from about $489,000 to $659,000, with monthly fees between roughly $650 and $927, and nothing listed for rent. With so few trades, a single sale can move the building’s averages, so I price suites here against the wider King West loft market as well as the building’s own history.

Building specifications

Amenities at Charlotte Lofts

This is a small-building package: a gym, a party and meeting room and a rooftop deck with a common room. You give up a concierge and pool, and in return you are funding far less shared space than in the towers around you.

Jatin’s honest take on Charlotte Lofts

Charlotte Lofts — frequently asked questions

Looking at King West, Liberty Village and CityPlace more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.