Park Lane I, 1 Pemberton Ave: All-Inclusive Fees by Yonge and Finch

Park Lane I is the building I bring up when a buyer tells me they want a predictable monthly bill near Yonge and Finch. It is a 1999 tower, so it will not win on finishes, but heat, hydro and air conditioning all sit inside the fee, and the price per square foot is well below the new towers a few blocks south. The question is whether the parking arrangement and the age of the systems work for you. I’m Jatin Dua, RE/MAX Quantum Realty.

The taller half of a matched pair

Park Lane I and Park Lane II were built together by the Pemberton Group and completed in 1999, with Burka Varacalli Architects credited on both. Park Lane I is the taller of the two at 25 storeys and roughly 80 metres, with 192 suites. Park Lane II at 3 Pemberton is 23 storeys and 176 suites.

They are separate condominium corporations. Park Lane I is MTCC-1231, registered in February 1999, and Park Lane II is MTCC-1239, registered two months later. That means two boards, two budgets and two reserve funds, even though from the street they read as one development.

When I show either building, I ask the buyer to compare the two status certificates side by side. Twin towers of the same age often face the same capital projects at the same time, and seeing how each board is handling them tells you a lot about which one is better run.

Sizes from a 1990s floor plan book

Suites at 1 Pemberton run from about 563 to 1,122 square feet. That range covers compact one-bedrooms at the bottom and full two-bedroom plans at the top, which is typical of a late-1990s tower before builders started shrinking everything to hit price points.

In practice, a one-bedroom here tends to be larger than a new one-bedroom on Yonge, and the two-bedroom plans are genuinely usable for a small family or a couple who both work from home. I have not found published floor plans or ceiling heights for this tower, so judge the space in person rather than from the listing sketch.

Window lines and balcony depth vary by stack in a building like this. Ask which direction the suite faces, because the difference between a view over the low-rise streets east of Yonge and a view into a neighbouring tower is a big part of what you are paying for.

The fee covers your utilities, but check parking

The main reason buyers look at Park Lane I is the fee structure. Condos.ca lists common elements, heat, hydro, air conditioning, building insurance and water as included. Hydro in the fee is less common than it used to be, and it takes a whole monthly bill off your budget.

What is not on that inclusion list for 1 Pemberton is parking, even though it does appear on the list for Park Lane II next door. That may simply be how the data was entered, or it may reflect a real difference in how parking is held or charged between the two corporations. Ask the listing agent and confirm in the status certificate whether the suite has a parking space, whether it is owned or exclusive-use, and whether there is any separate charge.

The trade-off with an all-inclusive fee is that the building, not you, carries the utility risk. When energy costs rise, they show up in the budget and eventually in your fee. Look at the last few years of fee increases to see how the board has handled that.

Living one block off Yonge at Finch

Pemberton Avenue sits just east of Yonge Street near Finch, at the northern end of the subway’s busiest stretch. You are close to the long Yonge strip of restaurants, grocers and services, and to the bus connections that gather at Finch. The panel on this page shows the exact walk to the station.

The block itself is quieter than Yonge. Pemberton is a short residential street, and the twin towers face a mix of older low-rise apartments and newer condos rather than a six-lane arterial. For a lot of my buyers that combination, transit at the corner and a calmer street at the door, is the point.

The wider area is changing. Yonge north of Sheppard has been steadily filling with new towers, and that new supply is one reason older buildings like this trade at a discount. It also means your neighbourhood will keep getting denser, which is good for shops and services and less good if you want quiet construction-free years.

Price per square foot, and what is on the market

Condos.ca puts the average for 1 Pemberton at about $714 per square foot. That sits well below what new towers in North York Centre and along Yonge ask, which is the normal discount for a 1999 building, partly offset here by having hydro and heat inside the fee.

Only one suite was listed for sale when I checked, and none for lease, so there is no meaningful asking range to report. With so little on the market at once, I would build any offer from recent sales of the same layout in this tower and in Park Lane II, which has nearly identical suite sizes.

When you compare monthly costs with a newer building, add hydro, heat and parking back onto the newer building’s fee. Done honestly, that comparison usually narrows the gap considerably. You can request a full sold report for the building through my building sold report page.

Building specifications

Amenities at Park Lane I

This is a lean package: a staffed lobby, security and a gym, with no pool listed for this tower. Fewer amenities usually means less to maintain and replace, which is one reason the fee can carry utilities without being out of line.

Jatin’s honest take on Park Lane I

Park Lane I — frequently asked questions

Looking at Willowdale, Yonge & Sheppard, Bayview Village and North York Centre more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.