Abode Lofts, 53 Colgate Ave: The 15-Suite Survivor of a Two-Building Plan

Abode Lofts is one of the smallest condo buildings in Leslieville, and that is both its appeal and its risk. It has 15 suites over four storeys on a quiet side street off Carlaw, surrounded by much bigger loft projects. Buyers who want a building where everyone knows each other love it; buyers who want deep amenities and lots of comparables should look elsewhere. I’m Jatin Dua, RE/MAX Quantum Realty.

Half of a plan that changed along the way

Abode was first marketed in 2007 as one- and two-storey live/work lofts in two small buildings on Colgate, at number 59 and number 53. According to buyers posting on the UrbanToronto forum at the time, the 59 Colgate building did not proceed and its purchasers had their deposits returned in 2009. The 53 Colgate building did go ahead.

By early 2011 forum members reported the building was close to finished, and that its design had shifted again into the four-storey, 15-suite building that stands today. Condos.ca shows the corporation registered in October 2011. Forum posts are not official records, so treat this history as background rather than a sales feature, but it explains why such a small building sits on a street of much larger ones.

The practical lesson is simple: what you buy is the building as registered, not the brochure. Read the declaration and the registered floor plans in the status certificate, especially if you are told a suite is a live/work unit, because that label can carry specific use rules.

Small suites, small building

Suites run from about 527 to 871 sq ft on condos.ca, so this is a building of one-bedrooms and compact two-bedrooms. The original marketing promised some two-storey loft layouts; whether a particular suite has a second level is something to confirm on the plan, because it changes how the space lives far more than the square footage does.

With only 15 suites, there is no concierge, no party room and no gym, and condos.ca lists only BBQ permission, a security system and visitor parking. That is a deliberate trade. You give up shared spaces you might not use and avoid paying to run them, but every repair is split between very few owners, which is the next point.

Light and outlook vary a lot in a four-storey building on a narrow street. Upper suites see over the neighbouring rooftops, while lower suites look across Colgate at much taller loft buildings. Visit at different times of day, and check which way the windows face before you compare prices between suites.

What 15 owners means for fees and repairs

In a large building, a new roof or a garage repair is spread across hundreds of suites. In a 15-suite building, the same job lands on 15 owners. That makes the reserve fund study the single most important document you will read here. Look at the fund balance, the planned contributions and what the study expects to replace in the next ten years.

Small boards also run differently. A handful of owners make every decision, which can be very efficient when they are engaged and slow when they are not. Read the last year or two of board minutes in the status certificate to see how decisions get made and whether anything big is coming. Small boards also rely more on the property manager, so ask how long Peer Property Management has been in place and how often the board meets.

Colgate Avenue and the Carlaw loft district

Colgate is a short residential street running east from Carlaw, in the middle of Leslieville’s loft district. The neighbours are much larger: Showcase Lofts sits across the street at 88 Colgate, and the Printing Factory and Garment Factory lofts are nearby on Carlaw. Abode’s scale is the contrast; it reads more like an infill building than a loft complex.

Queen Street East’s shops, restaurants and streetcar are a short walk south, and the automatic panel on this page covers transit, groceries and parks. The next big change is the Ontario Line, which Metrolinx is building through this part of the east end, with Leslieville Station planned at Queen and De Grassi and Gerrard Station at Gerrard and Carlaw. Expect construction noise on the main streets for a while.

What Abode Lofts costs to own

Condos.ca puts the building average at about $1,047 per sq ft. That is high for the east end, and in a 15-suite building the average can be moved by a single sale or two, so do not take it as a firm benchmark. Compare it with the per-square-foot figures at Showcase Lofts and the Carlaw conversions before you decide what a suite here is worth.

There was one suite for sale at the time of writing, which is too few to quote a fair range. Supply here is thin by nature: a year with two or three listings is normal for a building this size. If you are selling, the same scarcity can help, since buyers who want this street have very few alternatives.

Fees include parking and water, along with common elements and building insurance, which is a helpful inclusion list for a small building. Heat and hydro are not listed as included, so ask the seller for a year of utility bills. For past sale results, use my building sold report, and be aware that with so few trades every comparable needs careful adjustment.

Building specifications

Amenities at Abode Lofts

There is effectively no amenity package here, and that is the point. With nothing to staff or maintain beyond the building itself, more of your fee should go to the reserve fund and the basics; the question is whether 15 owners are contributing enough.

Jatin’s honest take on Abode Lofts

Abode Lofts — frequently asked questions

Looking at Leslieville, Riverdale, the Beaches, Danforth and Leaside more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.