Boutique II, 126 Simcoe St: Urban Capital’s Tower With Parking in Fees

Boutique II is the taller half of a project that a lot of buyers mistake for one building. The Boutique development at Simcoe and Nelson has two condominium corporations, and this is the tower. It sits in the middle of downtown, includes parking in the fee and costs less per square foot than most of what surrounds it. I’m Jatin Dua, RE/MAX Quantum Realty.

One project, two corporations

Urban Capital built Boutique with West Development Group, Malibu Investments and ALIT Developments. ZAS Architects designed it, working with Core Architects, and Cecconi Simone did the interiors. The idea, as marketed, was a condominium that felt like a boutique hotel: a dressed-up lobby, contemporary finishes and a loft-style feel in the suites.

The project has a mid-rise and a tower. Listing data records Boutique I at 21 Nelson St as a 13-storey, 334-suite building finished in 2010, and Boutique II at 126 Simcoe St as the 34-storey, 304-suite tower finished in 2011. UrbanToronto describes the components as 16 and 35 storeys and lists the whole project at 21 Nelson, with the tower at about 106 metres. The difference likely comes down to how mechanical and podium floors are counted.

What matters for a buyer is that these are separate corporations, TSCC-2061 and TSCC-2150, with separate budgets and reserve funds. Make sure the status certificate you receive is for the right one, and ask whether the two share any facilities or a garage.

Brick at the base, grey glass above

On the Nelson Street side, the base uses red brick in a way UrbanToronto forum members compared to a modern take on an old industrial building. Several of them wished the brick had been used more widely, and some found the grey cladding on the rest of the building drab on overcast days. The staggered balconies drew more praise.

Visitors on the forum also criticised the main entrance, a single opaque door that one person mistook for a service entrance, and noted that the hallways are long. Neither is a dealbreaker, but both are part of the daily experience.

The building sits next to the Shangri-La, in the stretch between the financial district and the Entertainment District. It is about as central as downtown gets, which is the real reason people buy here.

Being this central also changes how you should think about the parking spot. Downtown, a spot is scarce and has real resale value, and many newer towers in the core were built with far fewer spots than suites. A suite here that comes with parking, already covered by the fee, is worth more than the same suite without one, and buyers who do not own a car can often lease the spot out. Check the declaration for any rules on leasing parking to non-residents.

Suites, light and which floor to buy

Suites range from about 433 sq ft to roughly 1,725 sq ft. Current listings are a one-bedroom-plus-den in the 600s and two-bedrooms in the 700s and 800s, which is the core of the building.

Forum commenters who visited lower suites in the project said some felt dark and that the finishes were less impressive than the marketing suggested. One south-facing low unit looked out onto a neighbouring rooftop with mechanical equipment. Those comments were about the mid-rise, but the lesson applies here too: low floors in a dense block see less light and worse views.

The suites lean toward the compact, open-plan style that was standard for downtown towers of this period. In the one-bedroom-plus-den plans, check whether the den is enclosed and whether the bedroom has its own window, and measure for furniture before you make an offer.

Another forum poster warned that low north-facing suites could be noisy, since this is a nightlife district. I would aim for the tower’s middle and upper floors, where both light and noise improve sharply, and I would visit on a Friday or Saturday night before buying a low suite.

What Boutique II costs, and the fee with parking

The building average is about $832 per square foot, close to Boutique I at about $817 and below most newer towers in the core. For a location this central, that is good value, partly because the building is now about 15 years old and its finishes show it.

Three suites are listed for sale right now, asking between $559,900 and $815,000, from a one-bedroom-plus-den in the 600s to a two-bedroom in the 800s. That is a thin market at the moment, so I would also look at recent sales data for a fair comparison.

Fees on current listings average about $1.03 per square foot, which looks high. The fee includes parking along with heat, air conditioning, water and insurance, which most downtown towers do not include. If the suite you are buying has a parking spot, the effective fee is closer to the market. If it does not, ask whether you are still paying for parking through the fee.

Fee per square foot also matters more in this building than in the suburbs, because downtown suites are small. On a 650 sq ft suite, a difference of 20 cents a square foot is about $130 a month, and lenders count condo fees when they work out how much you can borrow.

Building specifications

Amenities at Boutique II

The amenity list is short: a concierge, a gym, a party room and a rooftop deck. For a downtown buyer who uses the city as their living room, that is enough, and a short list keeps more of the fee going to the building itself rather than to a pool. If you want a pool or a large gym, you will be paying for a membership elsewhere, so factor that into your comparison.

Jatin’s honest take on Boutique II

Boutique II — 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.