Princess Place II, 28 Olive Ave: The Smallest Tower, the Tightest Suites

Princess Place II at 28 Olive Avenue is the shortest tower in the Princess Place group and has the smallest suites. That makes it one of the lower-cost ways into a gated, staffed community a short walk from the Finch transit hub. The catch is space: if you need more than about 785 square feet, this is the wrong building. I’m Jatin Dua, RE/MAX Quantum Realty.

The low tower on the east side of the site

Pemberton Group built Princess Place as four towers of 16 to 26 storeys plus three-storey townhomes, grouped around a courtyard with a gatehouse. At 16 storeys and 176 suites, 28 Olive is the smallest of the four. It sits toward the Kenneth Avenue side of the site, away from Yonge.

It registered second, as TSCC-1515 on 24 April 2003, a month after 26 Olive. Like each of its neighbours, it is a separate corporation with its own board and reserve fund, even though residents share the entrance and facilities.

A smaller tower means fewer owners to share big repair bills, but also fewer owners to split them. When a large project such as window or balcony work comes up, the cost per suite in a 176-unit building can be higher than in a tower twice the size. Look at the reserve fund balance per suite, not just the total.

Built for one person, or two who like each other

Condos.ca puts suites at roughly 424 to 785 sq ft. That range covers studio-sized one-bedrooms at the bottom, typical one-bedrooms and one-plus-dens in the middle, and compact two-bedrooms at the top. None of it is family space.

Upper floors include lower-penthouse suites, and Dash Property Management describes large balconies across the community facing the North York skyline. If you want a view, a higher floor on the west or south side of this tower is where to look, but remember that this is the lowest building in the group.

With suites this small, layout matters more than square footage. A 550 sq ft one-bedroom with a separate bedroom wall and a usable kitchen can live bigger than a 600 sq ft unit with a long corridor. Walk several before you decide.

Utilities in, surprises out

The fee here covers heat, hydro, air conditioning, water, building insurance, parking and common elements, according to condos.ca. For a one-bedroom owner, that makes budgeting easy: one fee, a property tax bill and your own internet.

It also means the building carries its own energy risk. If you are comparing this tower with a newer one near Finch, check how the utility lines in the budget have changed over the last few years and whether the board has raised fees to keep pace. A history of steady, modest increases is better than a long freeze followed by a jump.

Condos.ca flags pet restrictions for this building. Read the declaration and rules before you commit if you have, or plan to have, a dog or cat.

Selling against three sister towers

One thing buyers rarely think about at Princess Place is the resale. When you sell, you are not only competing with other suites at 28 Olive; you are competing with similar one-bedrooms at 20, 22 and 26 Olive, often listed at the same time and built to the same era of finishes.

That puts a premium on whatever makes your suite different. A higher floor, a better exposure, a renovated kitchen or bathroom, and an owned parking space and locker are what separate a quick sale from a long one here. Buy with those in mind, even if you plan to stay for years.

It also helps you as a buyer. With four towers of similar product, you usually have more choice and better comparables than a single 176-suite building would give you, so don’t feel you have to chase the first listing that appears.

Living near Finch as the subway pushes north

Olive Avenue sits behind the Yonge strip, so you get a quieter street with Yonge’s shops and restaurants a few minutes away. The data panel on this page covers the transit, school and walkability details.

The area is in the middle of a long build-out. Metrolinx’s Yonge North Subway Extension will run Line 1 nearly 8 km north from Finch Station to Richmond Hill, with five new stations. Early upgrades at Finch Station finished in December 2023, the tunnelling contract was awarded in July 2025, and service will start after the Ontario Line is complete.

Around it, new towers keep arriving. Capital Developments topped off the 29-storey Olive Residences in 2025. More density brings more retail and services, and it also means construction traffic for a while. For a long-term owner, I think the net effect is positive.

What Princess Place II costs

Condos.ca puts the building average at about $732 per square foot. That sits between 22 Olive at about $676 and 26 Olive at about $869, and a little above 20 Olive at about $690. Expect a small building with small suites to show a slightly higher price per foot, because the fixed value of a kitchen and bathroom is spread over fewer square feet.

Only one suite was for sale when I checked, so I can’t give an active range here without pointing to that single listing. Across the Princess Place towers, current one-bedroom fees run roughly $0.90 to $1.00 a square foot, with hydro, heat and parking included. Add back those costs before you compare with a newer building at a lower fee.

Use sales from all four Princess Place towers as comparables, adjusted for size and floor. My building sold report gives the aggregate picture.

Building specifications

Amenities at Princess Place II

Residents share the community’s staffed gatehouse, fitness centre, card room and recreation rooms. It is a working set of amenities, not a showpiece, and nothing I found mentions a pool. For most one-bedroom owners, the gatehouse is the amenity that earns its cost every day, because there is a person at the entrance around the clock and visitors have to pass them to get in.

Jatin’s honest take on Princess Place II

Princess Place II — frequently asked questions

Looking at Yonge & Eglinton, Davisville and North Toronto more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.