55 Prince Arthur Ave: Large Annex Suites and an Unusually Active Board

55 Prince Arthur looks like an ordinary 1980s building from the street, and that is the point. Inside are 63 big suites, a handful of townhouses, a pool and an owners’ group that has spent years replacing the expensive parts before they fail. For a downsizer who wants the Annex and Yorkville on foot, that matters more than the facade. I’m Jatin Dua, RE/MAX Quantum Realty.

A plain exterior on one of the Annex’s best corners

The building stands at Prince Arthur Avenue and Bedford Road, a block north of Bloor. You can walk to the Royal Ontario Museum, the Yorkville shops and the University of Toronto, and the side streets around you are some of the Annex’s oldest residential blocks. It is a quieter address than anything on Bloor itself.

Sources disagree on the height. The building profile lists 11 floors, while a 2019 profile in Condovoice, the Canadian Condominium Institute’s magazine, calls it a 16-storey building. The two counts may measure different things, such as mechanical or lounge levels; ask for the floor plans so you know what you are comparing.

The R- Group developed the building, which was built around 1984 and registered as MTCC-717 in 1986. It has 63 suites in the main building and, according to the same profile, five townhouses.

Big suites, many with fireplaces

Recorded suite sizes run from about 1,532 to 4,399 square feet. The 2019 profile described most suites as one- and two-bedroom plans of roughly 1,800 to 2,400 square feet, and said 28 of them have fireplaces. That is a lot of room per bedroom, which is typical of the era and rare in anything built since.

These plans were designed for people moving out of houses, and they still suit that buyer. Large living and dining rooms, separate dens and generous storage are common, though the kitchens and bathrooms in original suites will feel dated. Budget for renovation if you buy an untouched suite, and get board approval before you change anything structural.

As of 2019, all but four suites were owner-occupied. That shapes the building’s culture: people stay, and they take part.

A board that publishes what it is doing

This is one of the better-documented buildings I know. The 2019 profile listed a long run of completed capital work: a cooling tower replacement, a full corridor renovation, LED lighting in common areas, a new make-up air unit with corridor humidification, a booster pump replacement and a pool relining and retiling.

The biggest project was extending an elevator to the top-floor lounge, which had been reachable only by stairs. It reportedly took about nine months and cost around $750,000. At the time, the board was also studying electric vehicle charging and planning a gym renovation.

Owners sit on more than a dozen committees, minutes are posted on the building’s own website, and most staff were corporate employees rather than contractors. None of that replaces reading the documents yourself, but it tells you how this building is run. The 2019 article is now several years old, so check the current minutes and reserve fund study for what has happened since.

What the fee covers

The fee includes cable TV, common elements, heat, building insurance, parking, water and air conditioning. Hydro for lights and appliances is the main bill you pay on your own. On suites this large, having heating and cooling inside the fee makes monthly costs much more predictable.

Because the corporation pays for heating and cooling, it also carries the equipment. The cooling tower and make-up air unit have already been replaced, which is a good sign, but ask what the reserve fund study expects next and when.

Parking is also listed in the fee. Confirm in the status certificate which space and locker are attached to the suite, since in older buildings these are sometimes owned or assigned separately.

Daily life between Bloor and the side streets

The reason to live here is that you can do most of your week on foot. Bloor Street, the Yorkville restaurants and the museum district are a short walk south and east, and the residential streets of the Annex start right at your door. Bedford Road and Prince Arthur Avenue are much calmer than Avenue Road or Bloor.

The area around you is also changing. Back in 2019, the board noted that more than a dozen condominium projects were in planning nearby, and since then 10 Prince Arthur, a new tower at the Avenue Road end of the street, has topped out. Check what is approved or under construction close to the building, because it can affect views and construction noise for a few years.

The building takes part in the wider neighbourhood too. In 2019 it was represented in the East Annex Condominiums Association, a group of four buildings with about 550 suites, and at the Annex Residents’ Association. For an owner, that means someone is paying attention to planning applications on your behalf.

Pricing and the per-square-foot puzzle

The building profile shows an average of about $771 per square foot. That looks low for this location, and it reflects two things: suites here are very large, and large suites tend to sell for less per square foot than small ones. It also reflects older interiors that many buyers renovate.

There were no suites listed for sale at the time of writing, and sales here are infrequent, so I would treat that average with caution. My building sold report shows what has actually closed.

When you compare fees, set them against a building where heat and air conditioning are metered separately, and remember that cable and parking are already included here.

Building specifications

Amenities at 55 Prince Arthur

The pool, sauna and gym cover the daily routine, and the top-floor lounge with its deck is the building’s social room. The guest suite and valet parking for visitors are the kind of service that matters to owners who entertain family.

Jatin’s honest take on 55 Prince Arthur

55 Prince Arthur — frequently asked questions

Looking at Yorkville, the Annex and Midtown more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.