The Metropole, 7 King St E: Hydro-Included Suites at King and Yonge

The Metropole is one of the few downtown buildings where a studio buyer can walk to a Bay Street office and pay one monthly fee that covers hydro, heat and cooling. It is a 1997 H&R tower a few steps east of King and Yonge, with an indoor pool, two rooftop terraces and suites from small studios to large two-plus-dens. Its age is the thing to study, not a reason to walk away. I’m Jatin Dua, RE/MAX Quantum Realty.

Hydro in the fee, at King and Yonge

The headline feature is the fee. Condos.ca lists common elements, heat, hydro, air conditioning, building insurance, parking and water as included, and recent listing descriptions also mention heat, hydro and central air as part of the fee. That is rare downtown, and in most newer towers hydro, heating and cooling are on each owner’s own meter.

For a studio owner, that means one predictable monthly number and no separate utility account. Among current listings the fee works out to roughly $1.44 per square foot, which looks high until you add back hydro, heating and cooling, and parking where a suite includes it.

Remember the other side: a bulk utility bill rises for everyone when rates rise. Ask for the last few years of budgets and see how much of the fee is energy.

Studios, two-plus-dens and nothing in between

Condos.ca puts the suite range at about 370 to 2,146 sq ft, and the current listings show a split personality. On one side are compact studios under 500 sq ft; on the other are two-plus-den plans large enough for a couple working from home. There is less in the middle than in most towers.

That mix shapes the building. The studios draw first-time buyers, investors and parents buying for students, and listing descriptions pitch them exactly that way. The large suites draw downtown professionals and downsizers who want space without leaving the core.

Listing descriptions for some suites mention ceilings of about 9.5 feet and oversized windows, which helps a small studio feel larger than its square footage. Lockers on a lower floor are mentioned for some suites. Confirm both for the specific suite, because they are not uniform across the building.

A full amenity floor from the 1990s

The amenity list is generous for a 314-suite building. Listing descriptions describe 24-hour concierge, an indoor pool, a fitness centre, a steam room and sauna, a party room, a billiards lounge, and two rooftop terraces with barbecues and city views.

H&R built several downtown towers in this era, including The Penrose at 750 Bay Street, and they follow the same recipe: a full recreation floor, generous inclusions and conventional construction. The Metropole is the Financial District version of that recipe.

The trade-off is cost. A pool, a steam room and two roof terraces all need ongoing maintenance and eventual replacement, and in a building now close to 30 years old, those bills are real.

What the location is actually like

This is the corner where the Financial District meets old Toronto. Bay Street offices are a short walk west, St. Lawrence Market and the King Edward Hotel are a short walk east, and the theatre district and the arena are within reach on foot. Listing descriptions also note the subway and the underground PATH close by; the data panel on this page has the transit details.

King Street East is a busy daytime street with office workers and restaurant crowds, and it quiets considerably on weekends. If you work irregular hours, ask about the side and height of the suite, because street noise near Yonge is constant during the week.

The block is surrounded by established office towers and heritage buildings, so views here are mostly about exposure and height rather than open sky. Before you buy, look out the window of the actual suite and ask what sits on the other side of the nearest wall of glass.

The daily convenience is hard to beat. Groceries, pharmacies, banks and food courts are all within a few minutes on foot, and most owners here live without a car. That matters, because a parking space adds to the price of a suite and is not something every studio comes with.

What The Metropole costs

Condos.ca puts the building average at about $795 per square foot. That is modest for a King and Yonge address, and the age of the building, plus the share of small studios, explains most of the discount against newer Financial District towers.

Five suites were for sale when I checked. Studios were asking roughly $375,000 to $415,000, with fees in the mid-$350s to mid-$360s a month. Two-plus-den suites were asking roughly $669,000 to $895,000, with fees of about $1,165 to $1,236.

For a studio buyer, the all-in monthly cost is the story. A fee in the mid-$300s that already covers hydro, heat and cooling compares very well with a newer studio where the fee is lower but utilities and internet come on top. For the larger suites, the fee is significant and you should compare it with your expected hydro and parking costs elsewhere.

With three suites also listed for lease, there is an active rental market. If you want comparables for a specific suite, I can pull them through my building sold report.

Building specifications

Amenities at The Metropole

This is a complete recreation floor, with a pool, steam room and sauna, plus two roof terraces that give studio owners outdoor space they do not have at home. For anyone in a small suite, the shared spaces are effectively extra square footage, and they are paid for whether you use them or not.

Jatin’s honest take on The Metropole

The Metropole — 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.