The Loretto, 385 Brunswick Ave: A 1914 Annex School Turned Lofts

The Loretto is where a lot of Annex homeowners went when they sold the house but refused to leave the neighbourhood. It is a 2007 conversion of the old Loretto Abbey Day School on Brunswick Avenue, a short walk north of Bloor, with ceilings up to 13 feet and some of the largest condo suites in the Annex. Listings are scarce and the range of suite sizes is enormous, so you need to know the building before you judge any one price. I’m Jatin Dua, RE/MAX Quantum Realty.

Adaptive re-use done properly

The Loretto is one of the better-known heritage conversions in the Annex. The original building was the Loretto Abbey Day School, a Catholic girls’ school, and one loft-specialist site dates it to 1914. Context Development turned it into lofts around 2007, and the School House at 391 Brunswick, next door, followed in 2010 on the same Loretto property.

The interiors are polished rather than industrial. blogTO described maple floors, floor-to-ceiling windows and contemporary kitchens, and another source lists engineered hardwood, stone foyer tiles, thick granite counters, pot lights and marble bathrooms in the original specification. Do not come here expecting exposed ductwork and rough brick in every suite; it is a heritage shell with a finished, residential interior.

The same source says 13 townhomes were built in the old schoolyard as part of the redevelopment. I have not been able to confirm whether those are part of this corporation or a separate one, so if you are looking at a townhome on the site, check which corporation it belongs to.

From compact lofts to 3,000-plus square foot homes

The suite range here is unusually wide. Condos.ca records roughly 473 to 4,497 sq ft, and a loft specialist gives about 586 to just over 3,100 sq ft. Either way, the building holds everything from a compact one-bedroom to a full-floor-sized family home, and the price of one tells you almost nothing about another.

Ceilings run about 9 to 13 feet depending on the floor and the original classroom volumes. Many suites have their own terraces or balconies. The penthouse blogTO profiled had five bedrooms, a library with tall built-in shelving and an upper sitting level, which gives you a sense of how far some owners have taken these spaces.

The suite count itself is unsettled. blogTO and one loft specialist say 46 suites, explaining that the builder planned 48 and some buyers combined units; condos.ca lists 50, and the loft specialist’s own fact table says 49. The difference may come down to combined suites and how the townhomes are counted. The status certificate will give you the current unit count, which matters when you work out how the reserve fund is shared.

Amenities and parking

For a 50-unit building, The Loretto has more than you would expect. One source describes an amenity pavilion built over the parking garage with a party room and fitness space, plus a private courtyard and green space; blogTO also mentions a rooftop deck and garden. Condos.ca lists a concierge, security guard, gym, meeting room and enter-phone system.

Parking is included in the fee according to condos.ca, which is unusual and valuable this close to Bloor. Some larger suites carry more than one space; the penthouse blogTO featured came with three. Condos.ca also flags pet restrictions, so read the declaration and rules if you have a dog.

Brunswick Avenue, north of Bloor

This is the quiet residential end of Brunswick, a few minutes up from the Bloor Street strip, among large Victorian houses and mature trees. You can walk to the shops and restaurants on Bloor West and to the University of Toronto campus. The transit and Walk Score panel on this page has the numbers.

The people who buy here tend to be the same people who used to own those houses. blogTO noted that many of the original suites were bought quickly by downsizing Annex homeowners. That shapes the building: it is owner-occupied in feel, older in demographic and quiet, and the resale market is driven by local move-down buyers rather than investors.

One practical point about living in a converted school: the floor plates were designed for classrooms and corridors, not apartments. In conversions like this, that can produce unusual shapes: deep rooms, very tall windows on one side and interior spaces that rely on borrowed light. Walk each suite in daylight and check how the light reaches the bedrooms before you fall for the ceiling height.

What The Loretto costs

Condos.ca shows a building average of about $1,661 per square foot, which is well above other Annex conversions such as School House Lofts next door at around $901. I would treat that number with caution. With so few sales and suites that range from about 500 to over 4,000 sq ft, one or two large, renovated penthouse trades can pull the average sharply, so it may not reflect what a typical suite would fetch.

There was only one suite listed for sale when I wrote this, and none for lease, so there is no active asking range to quote. The fee includes common elements, water, building insurance and parking per condos.ca, so compare it against nearby buildings only after adding back the cost of a parking space. For a proper valuation, you need the recent resales across similar-sized suites, which you can get through my building sold report.

When I value a suite here, I start with comparable square footage in this building and School House, then adjust for ceiling height, outdoor space and the number of parking spaces. A terrace suite on the top floor and an interior lower suite should not be priced off the same average.

Building specifications

Amenities at The Loretto

The amenity pavilion, courtyard and rooftop garden give a small building shared space that feels more like a private club than a condo tower. A staffed front desk is the big difference from School House next door, which has none.

Jatin’s honest take on The Loretto

The Loretto — 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.