TO Condominiums, 117 Gerrard St E: Downtown Entry Price, Utilities In

TO Condominiums at 117 Gerrard Street East is not a building anyone chooses for its looks. It is a modest 1989 tower over a corner store near Gerrard and Jarvis, and its appeal is simple: one of the lowest entry prices downtown, with your main utilities in the fee. Whether that is a smart buy depends on the building’s finances more than anything else. I’m Jatin Dua, RE/MAX Quantum Realty.

A plain building with a practical purpose

TO Condominiums is a 13-storey tower with retail at its base, built at the end of the 1980s condo boom. It was developed by Trans Senator Developments and registered in January 1989 as MTCC-798, which makes it one of the older condominiums in this part of downtown.

There is nothing architecturally distinctive about it, and I would not pretend otherwise. What it offers is an affordable, central home or rental suite in a building small enough, at 156 suites, that the board and manager can actually know what is going on.

The management listing is worth noting: TSE Management shares the Trans Senator name, which suggests a long-standing relationship with the original developer. That is not unusual, but ask the board how management is reviewed and when the contract was last tendered.

Suites from studio to two-bedroom

Suites run from about 535 to 1,010 square feet. Current listings were a studio in the 500s and a one-plus-den in the 600s, which is typical of what trades here: compact suites bought by first-time buyers, students’ parents and investors.

Even the smaller suites here are larger than the micro one-bedrooms in new towers nearby, and late-1980s plans usually mean a separate kitchen and more wall space for furniture. Expect older finishes unless the suite has been renovated, and price accordingly.

With only 13 storeys, upper floors get open city views, while lower floors face neighbouring buildings and the street. Suites facing Gerrard get more traffic and street noise than those facing away from it.

Condition matters more than layout at this price point. A renovated studio and an original one can sit far apart in value, and buyers often underestimate what new flooring, a kitchen and a bathroom cost in a condo, where trades have to work within building rules and elevator bookings. Get quotes before you firm up an offer on a suite that needs work.

Utilities in the fee

The fee is listed as including heat, hydro, water and cable TV. Having hydro and heat bundled is valuable, since in most newer buildings you pay them separately. The listing data does not specify whether common elements, insurance or parking are included, though in practice every condo fee covers common elements and the building’s insurance.

Active listings averaged about $1.29 per square foot, with monthly fees from about $700 to the mid-$800s. That is a high fee per square foot, and on a lower-priced suite it is a large share of the monthly cost. Before you buy, add the fee to your mortgage and taxes and compare the total with renting a similar suite nearby.

Parking is not listed in the fee, and the building lists visitor parking. If you need a space, confirm whether the suite has one and what it costs.

The other side of bundled utilities is exposure to energy costs. When the building pays everyone’s hydro and heat, a hard winter or a rate increase lands in the budget and, eventually, in the fee. Ask for the last two or three years of budgets to see how quickly fees have been rising.

Gerrard and Jarvis, and a changing street

The location is central. Toronto Metropolitan University is a few minutes west, Yonge Street and the Eaton Centre are within walking distance, and Allan Gardens and its conservatory are a short walk east. For students and anyone working downtown, that is the main reason to be here.

Jarvis Street around Gerrard has been changing fast. Taller condominiums such as Prime at 319 Jarvis and JAC Condos at 308 Jarvis have gone up nearby, and more proposals have followed along the corridor. That brings new residents and retail, and more construction, to a stretch that was long dominated by older buildings and hotels.

This is a busy downtown area with a mix of residents and street activity. Walk the block in the evening and on a weekend before you decide, so you know what it feels like at the times you will be coming home.

Among the lowest entry prices downtown

condos.ca puts the building average at about $606 per square foot. That is above Gerrard Place at 86 Gerrard East at about $546 and Metropolitan Essex at 296 Jarvis at about $525, and close to Jarvis Gardens at about $583. New towers on the Jarvis corridor trade far higher.

At the time of writing, two suites were listed for sale, asking from about $350,000 to about $370,000, and one was listed for rent. Prices at that level are rare this close to Yonge Street.

The low price is the attraction and the fee is the catch. Run the numbers on total monthly cost, not price alone. For aggregate sold figures, see my building sold report.

Building specifications

Amenities at TO Condominiums

For a building this size the list is decent: a gym, sauna, games room, party room and a rooftop deck where barbecues are allowed. The rooftop is the one that matters most in summer, since balconies in older downtown buildings are often small.

Jatin’s honest take on TO Condominiums

TO Condominiums — 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.