The Century Plaza, 24 Wellesley St W: The Fee That Covers Nearly Everything

The Century Plaza at 24 Wellesley Street West is a building I bring up when a buyer tells me they want one predictable monthly number. Its fee covers hydro, heat, air conditioning, water, cable and parking, which is close to everything. It is a 1991 tower between Bay and Yonge, with a rooftop hot tub and a handful of suites with terraces you rarely find downtown. I’m Jatin Dua, RE/MAX Quantum Realty.

A fee list that covers almost everything

Condos.ca lists common elements, heat, hydro, air conditioning, water, building insurance, cable TV and parking as included. That is one of the fullest inclusion lists I see downtown. In most newer towers, hydro, heat and cooling are on your own meter, cable is your own contract and parking is a separate charge.

The result is a fee that looks high next to a new building but often costs less in total once you add those bills back. When you compare, use the total monthly cost of living in each suite, not the fee alone, and check that the suite you are buying actually comes with a parking space, since the fee includes parking only where a space is owned.

The other side of an all-inclusive fee is that energy costs are shared. A suite that runs the air conditioning all summer pays the same share as one that barely uses it, and rising utility rates flow straight into the budget. Ask the manager how the utility line has moved over the last few years.

Terraces, a refreshed lobby and suites in many sizes

The building information published by Dash Property Management, a firm that leases suites here, says the lobby and common areas have been renovated in recent years. It also points out something unusual: some suites have terraces of more than 600 sq ft with skyline views. Outdoor space on that scale is rare in a downtown tower of this age.

Sources disagree on the suite range. Condos.ca lists suites from about 464 to 2,304 sq ft, while CondoInvestments.ca gives about 560 to 1,661 sq ft. Either way, the mix runs from studios and one-bedrooms to large two-bedrooms, so there is a wider choice of layouts than in a typical one-bedroom tower.

I could not verify ceiling heights or original finishes from a reliable source, and suites in a 1991 building vary a lot in how much they have been updated. Judge each suite on its own kitchen, bathrooms, windows and heating and cooling unit.

If you are looking at a terrace suite, get the details in writing. Ask whether the terrace is exclusive-use common element, who pays to repair the membrane underneath, and what the rules say about planters, furniture and barbecues. Those answers affect both your enjoyment and your costs, and they are in the declaration and the rules, not the listing.

The amenity package

The Dash building notes list a 24-hour concierge, a rooftop terrace with an outdoor hot tub, a gym with views over the city and the lake, an indoor whirlpool, a sauna, a library, a party room and visitor parking. Condos.ca adds a meeting room and a rooftop deck. The same notes mention an on-site grocery store, which is a real convenience in winter.

There is no pool listed, which keeps operating costs lower than in some neighbouring buildings of the same era. For most owners, the rooftop hot tub and the gym with a view are the features that get used.

Daily life on Wellesley, between Bay and Yonge

This is a central address. Queen’s Park and the University of Toronto are a short walk west, Yorkville’s shops and restaurants are a few minutes north, and the hospitals on University Avenue are within walking distance. Wellesley is a busy east-west street, so suites facing it will hear traffic, while higher floors are generally quieter.

Most owners here do not need a car day to day, but because parking is included in the fee where a space is owned, a suite with parking holds real value in this location. If you are comparing two similar suites and only one has a space, that difference should show up in the price.

The block has changed a great deal. Newer towers such as Wellesley on the Park at 11 Wellesley West and 8 Wellesley Residences at Yonge and Wellesley have gone up or are going up nearby, and that adds people, shops and construction activity. Before you pay for a view, check the City of Toronto’s development applications map for proposals on neighbouring lots.

What The Century Plaza costs

Condos.ca puts the building average at about $654 per square foot. That is well below the newer towers on the same blocks, and the gap reflects the building’s age and its all-inclusive fees. For a buyer, it means more space for the money in a central location.

When I checked, no suites were listed for sale and three were listed for lease, so I cannot give you a current asking range. In a quiet period, recent sold prices for the same layout and exposure are the only reliable guide, and a terrace suite should be valued separately, since there are so few of them.

If you are watching for a suite here, I can set up the comparables through my building sold report, so you know what a fair price is before the next listing comes up.

Building specifications

Amenities at The Century Plaza

The package is built for daily use rather than show: a gym, a sauna and a rooftop hot tub, plus a grocery store in the building. It is a practical set for owners who want to stay in on a winter evening, without the cost of a pool.

Jatin’s honest take on The Century Plaza

The Century Plaza — frequently asked questions

Looking at St. Lawrence, the Financial District and Downtown Yonge more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.