Queen and Portland, 156 Portland St: 96 Suites Above a Loblaws

Queen and Portland is the building for people who want to live above their grocery store. It has only 96 suites, sitting on top of a retail podium anchored by a Loblaws, a block from Queen West and a short walk to King West. Small buildings like this trade rarely, so when one comes up, you need to know what you are looking at. I’m Jatin Dua, RE/MAX Quantum Realty.

Condos on top of a shopping block

This is a mixed-use project. Tribute Communities and RioCan built it together, with Turner Fleischer as architect: large retail units at the base, including a grocery store, and condominium suites above. The project runs between Queen Street and Richmond Street along Portland, which is why UrbanToronto’s coverage talks about a Queen Street side and a Richmond Street side.

The retail is the selling point. A large Loblaws is attached to the building, and other tenants have been reported as Winners, Joe Fresh and a Bank of Montreal branch. Retail tenants change, so check what is open when you visit, but the grocery store is the anchor and the reason many owners chose this address.

The storey count depends on what you count. Listing data and one agent site describe seven storeys of residential, while UrbanToronto’s project coverage describes a nine-storey building. Since the first few levels are retail, both are probably describing the same building from different starting points.

A building that shares its structure with a large commercial owner works differently from a stand-alone condo. There is usually an agreement that sets out how the shared parts, such as the garage, loading area, roof and structure, are maintained and paid for. Ask for it with the status certificate, because how fairly it splits costs between the retail owner and the 96 suites has a direct effect on your fee.

Few suites, larger than average, and some quirks

With 96 suites, this is a very small corporation by downtown standards. Listing data puts suites at about 685 to 1,116 sq ft, and an agent site gives a wider range of roughly 546 to 1,269 sq ft. Either way, the average suite is bigger than in most towers nearby, and the building includes three-bedroom plans, which are rare downtown.

The original finishes were above average for 2011, with Miele appliances and engineered hardwood floors, plus Energy Star appliances, water-saving faucets and dual-flush toilets. The marketing called these lofts, but they are conventional condominium suites in a new building, not a warehouse conversion, so do not expect exposed timber or 12-foot ceilings unless the listing shows them.

One honest caution: an agent who has sold here notes that some of the smaller suites are fairly narrow and a few have no balcony. In a building this small, each floor plan matters, so look at the plan before you book a viewing.

A big roof for a small building

The roof is the other reason to buy here. The building has a landscaped rooftop terrace reported at roughly 20,000 sq ft, with barbecues and a water feature. Spread across fewer than 100 suites, that is a lot of outdoor space per owner, and it rarely feels crowded.

Indoors, the package is modest: a 24-hour concierge, a party room with a kitchen, an exercise room and a boardroom. Beanfield fibre internet is available. There is no pool, and a corporation this size could not easily carry one.

The fee includes parking, which changes the maths

Listing data shows the fee covering common elements, heat, air conditioning, parking, water and building insurance. Parking in the fee is uncommon downtown, and heat and cooling on top of that make monthly costs very predictable. When you compare this building with a newer one, add back what the other building charges for parking and heat.

The flip side of a small corporation is that every shared cost is split among fewer owners. A roof terrace membrane, an elevator overhaul or a garage repair costs the same whether there are 96 suites or 400. That makes the reserve fund study more important here than in a large tower, not less.

Ask whether the parking space is part of the unit, a separate parking unit or an exclusive-use common element. That decides whether you can sell or rent it separately and whether a buyer later can be sure it comes with the suite.

Prices and fees at 156 Portland Street

The building averages around $1,003 per square foot, which is high for a 2011 building and reflects the location, the scarcity of suites and the grocery store downstairs. Small buildings with little turnover tend to hold a premium because buyers have few alternatives.

Only one suite is listed for sale right now, so there is no active range to quote. That is typical here. With so few listings, the useful comparison is recent sales in the building and in other small King West and Queen West buildings, which I can pull for you.

Per-square-foot figures in a building this small can swing a lot from one sale to the next, because a single three-bedroom or a single renovated suite moves the average. Treat the $1,003 figure as a guide, not a price, and look at each sale’s size, floor and condition.

Because parking and heat are in the fee, compare total monthly cost, not the fee alone. A higher fee that includes a parking spot can work out cheaper than a lower fee in a building where parking is extra.

Building specifications

Amenities at Queen and Portland

The large rooftop terrace and the grocery store downstairs do more for daily life here than any indoor amenity. The indoor package is small, as you would expect for 96 suites. For many owners, being able to take an elevator down to buy groceries in January is the amenity that matters most.

Jatin’s honest take on Queen and Portland

Queen and Portland — 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.