Park Towers at IQ, 15-17 Zorra St: A Pool Building on a Growing Block

Park Towers at IQ is what most people picture when they think of new Queensway condos: compact suites, a full amenity floor with a pool, and a lot more construction still to come around it. It is a sensible first purchase or a solid rental hold, as long as you go in knowing the neighbourhood will look very different in ten years. I’m Jatin Dua, RE/MAX Quantum Realty.

Phase two of a master-planned block

IQ Condos is a Remington Group community on former industrial land off The Queensway, east of Kipling. City council approved the zoning in 2014, and UrbanToronto describes the first two phases as a pair of 12- and 24-storey towers north of Senator Marian Maloney Park. Park Towers is the second phase, at 15 and 17 Zorra Street, and condos.ca lists it at 24 storeys and 520 suites.

UrbanToronto’s project thread for the first two phases credits Richmond Architects. The building is a modern, largely glazed design, typical of the Queensway towers of its generation. It is not trying to be distinctive, and it does not need to be: buyers here are buying the suite, the amenities and the price.

The park is the feature in the name and a real asset. A new neighbourhood park on your doorstep is not common along The Queensway, and suites on the south side look over open space rather than the next tower.

Compact suites built for first buyers and investors

Condos.ca puts the suite range at about 454 to 1,076 square feet. That covers small one-bedrooms through two-bedroom-plus-den plans, with very little above 1,000 square feet. Families looking for three bedrooms will find little here.

A 520-suite building with this suite mix tends to have more regular resale and lease activity than a small boutique building, which helps both buyers and investors. It means real comparables, and it means you can usually find the layout you want without waiting a year.

The flip side of compact suites is that layout matters more than square footage. A 600-square-foot one-bedroom-plus-den with a usable den and a window in the bedroom is a very different home from one with a den that is really a hallway. Walk more than one plan before you decide.

Two addresses, one corporation

Park Towers carries two street addresses, 15 and 17 Zorra Street, but condos.ca records them under a single condominium corporation, TSCC-2699. In practice that means one board, one budget and one reserve fund for all 520 suites, and the pool, gym and guest suites are shared by everyone.

That scale works in your favour on costs. Expensive items such as the pool, the security contract and the garage are spread across hundreds of owners, so each owner’s share is smaller than it would be in a mid-size building with the same facilities.

It also means the amenities are busier. Visit the gym and pool at a weekday evening and on a weekend before you buy, and ask the concierge how guest suites are booked. Those small details shape daily life in a big building more than the brochure does.

The block is still being built

This is the most important thing to understand about Park Towers. IQ’s third phase, at 35 Zorra Street, was filed for site plan approval with three towers of 18, 25 and 42 storeys and about 915 suites, according to UrbanToronto’s August 2024 report. Thirty Six Zorra, a 35-storey tower, has been completed immediately to the west, and The Tailor, a 10-storey building, to the north.

Further out, UrbanToronto lists proposals at 10 Zorra Street, 1306 and 1325 The Queensway, and along St Lawrence Avenue, and a master plan for the former Cineplex Queensway site at 1025 The Queensway with up to 12 towers. That will bring new shops and services over time, but also years of cranes, truck traffic and more competition from new resale and rental supply.

If you want a finished, settled neighbourhood, this is not it yet. If you are comfortable buying early in an area that is filling in, you are buying at today’s prices into a neighbourhood that is getting more amenities, not fewer.

Priced like a mid-2010s Queensway tower

Condos.ca puts the building average at about $794 per square foot. That is a mid-market figure for a 2018 tower on this corridor, and it is the number to compare against similar-age buildings nearby rather than against brand-new developer inventory, which typically carries a premium. Smaller suites usually trade higher per square foot than larger ones, so compare like with like.

The fee covers common elements, building insurance and water, according to condos.ca. Heat and hydro are not listed, so budget for them separately; in a building with this much glass, summer cooling is part of that bill. An indoor pool and a full-time security guard are both in the common costs, which is worth remembering when you compare fees with a smaller building that has neither.

There was one suite for sale and three for lease when I checked, which is not enough to quote a range of asking prices. With 520 suites, that changes quickly, so check current listings before you set a budget.

Building specifications

Amenities at Park Towers at IQ

Condos.ca lists a concierge and security guard, an indoor pool, a sauna, a gym, a recreation room, guest suites and barbecue permission. Guest suites are a genuinely useful feature in a building of small units, because your visitors have somewhere to stay that is not your sofa.

Jatin’s honest take on Park Towers at IQ

Park Towers at IQ — frequently asked questions

Looking at Humber Bay Shores, Mimico, the Queensway and central Etobicoke more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.