Artscape Triangle Lofts, 38 Abell St: Below-Market Lofts for Artists

Artscape Triangle Lofts is not a building most buyers can purchase in, and that is the point. These live/work suites on Abell Street were created so that working artists could stay in the Queen West Triangle after the warehouses they lived in were torn down, and they are sold below market to people who qualify. If you are an artist, this may be the most affordable way to own in this part of the city. If you are not, this page will tell you why to look elsewhere. I’m Jatin Dua, RE/MAX Quantum Realty.

Where these suites came from

In 2004 the City rezoned the Queen West Triangle, the wedge of former industrial land south of Queen Street West around Abell Street. Many of the old warehouses there had been home to artists in informal live/work spaces, and plans to replace them with tall condos led to a long public fight involving a community group called Active 18.

The resolution was a trade. Artscape helped broker talks between the developer, Urbancorp, and the community, and Urbancorp was allowed extra height and density in exchange for building affordable artist units. According to blogTO, Artscape bought its portion of the building from Urbancorp for $8.4 million, and the Artscape units sit on the lower floors of the same tower as Westside Gallery Lofts.

That history still shapes the building. The Triangle Lofts have their own entrance, and blogTO reported that residents do not use the market condo’s amenities, which was done deliberately to keep costs down. There is also a ground-floor public space, the Artscape Triangle Gallery, intended for regular shows.

How ownership works here

This is the part every prospective buyer has to understand. According to the Goethe-Institut’s account of the project, owners pay 75% of the suite’s market value. Artscape covers the other 25% through what it calls the Artscape Mortgage, a second mortgage that carries no interest and no monthly payments.

On resale, a shared appreciation clause lets the owner benefit from rising values while protecting the next buyer from the full swing of the market. The stated goal is that the suites stay affordable for artists permanently. The exact resale formula is not published in the sources I found, and it is the single most important document you need to see before you commit.

Getting in is a process, not a showing. The same account describes a waitlist, followed by a second application with a professional CV, three years of tax returns and evidence of artistic training or practice, reviewed by a committee. It also notes that since 2016 Artscape residents across its properties have committed to volunteer at least five hours a month.

The suites: raw, practical, deliberately plain

Expect loft-style shells rather than designer finishes. blogTO described the suites as spacious and modern but without high-end extras such as stainless steel appliances or gas fireplaces, while still including a dishwasher. The Goethe-Institut piece describes high ceilings, exposed piping and concrete walls, and a long rectangular plan of about 700 square feet with a kitchen bar and a work area at the far end.

Condos.ca puts the size range at about 500 to 1,010 square feet. For live/work use, the shape matters as much as the size: a long open plan with good light is far more useful for a studio than a chopped-up two-bedroom of the same area.

Daily life is Queen West at its most local. You are a short walk from the galleries, bars and restaurants on Queen Street West, and the Triangle itself has filled in with towers and townhouses since the warehouses came down, so expect a dense, newer streetscape right around the building rather than the industrial character that drew artists here in the first place. Trinity Bellwoods Park and the Ossington strip are within walking distance; the automatic panel on this page covers transit and parks.

Not every suite is owned. The project was reported as 48 ownership suites and 20 rental suites run by Artscape, which totals 68, while condos.ca lists 70 suites in the corporation. The sources do not agree, so confirm the current count and how many are rentals when you review the status certificate.

Pricing: why market comparisons don’t apply

There were no Artscape Triangle Lofts suites listed on the open market when I wrote this, and that is normal. Sales here run through Artscape’s program, so ordinary listing data and per-square-foot comparisons with nearby condos do not tell you much.

The real numbers to understand are the program terms: the purchase price is set at 75% of market value, with Artscape’s 25% held as a second mortgage, and the resale price is shaped by the shared appreciation clause. That makes your upside smaller than a market condo’s, and your entry cost much lower. The rental suites were reported at 80% of CMHC’s average market rent for the GTA.

Owners still pay condo fees, property taxes and their own utilities. Condos.ca does not list what the fee includes, so ask for the corporation’s budget and confirm how costs are shared with the market condominium in the same building, if any are.

Building specifications

Amenities at Artscape Triangle Lofts

There is almost no amenity package, and that is a feature, not an oversight. Keeping the Triangle Lofts out of the tower’s pool-and-gym budget is one of the ways the project keeps carrying costs within reach for artists; the shared asset here is the gallery and the community, not a party room.

Jatin’s honest take on Artscape Triangle Lofts

Artscape Triangle Lofts — frequently asked questions

Looking at Queen West, Trinity-Bellwoods, Kensington and Little Italy more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.