The Continental, 509 Beecroft Rd: Every Utility in the Fee, Explained

The Continental at 509 Beecroft Road has the kind of maintenance fee that makes buyers flinch, and most of them misread it. The fee here covers hydro, heat, air conditioning, water and parking, so you are comparing an all-in number with other buildings’ partial ones. Once you add those bills back, the picture changes. I’m Jatin Dua, RE/MAX Quantum Realty.

The fee that includes hydro

Most condos built in the 2000s and later meter hydro by suite, and many meter heat and cooling too. The Continental does neither, according to condos.ca: common elements, heat, hydro, air conditioning, building insurance, parking and water are all in the fee.

On the four suites listed for sale when I checked, the fee worked out to about $1.19 per square foot. That is high next to a building where you pay only for common elements, but in that building you would also be paying a monthly hydro bill, a heating and cooling bill, and possibly parking on top.

There is a second effect that buyers miss. When utilities are bundled, every owner shares the building’s total energy cost. Owners who keep their suites cool all summer are partly paid for by those who do not. If utility rates rise, the fee rises for everyone. Ask how much of the budget goes to utilities, and whether the board has looked at energy savings or sub-metering.

An Empire tower on the Beecroft strip

The Continental was built by Empire Homes, the company now known as Empire Communities, which has gone on to build across the GTA. It belongs to the wave of towers that went up along Beecroft Road in the mid-2000s, the street that runs parallel to Yonge on its west side through North York Centre.

Its neighbour at 503 Beecroft, C-Condominiums, is listed by REW as a separate building, and the two are often confused in searches. They are separate corporations with separate fees, so check the address on any listing.

Beecroft is a calmer address than Yonge itself. You are one block back from the main street, with the towers of North York Centre on one side and lower residential streets to the west. The data panel shows the exact distance to the subway and the nearby parks.

Suites built for real living, not micro units

Condos.ca puts suite sizes at about 507 to 1,301 square feet. All four suites listed when I checked were two-bedroom layouts in the 700 to 899 square foot range, which tells you the building has a good stock of family-sized suites rather than just small investor units.

That matters for resale. Two-bedroom suites under 900 square feet near Yonge are the most liquid product in North York, because they work for small families, for couples who want an office and for investors. I could not find the architect or ceiling heights in any source I checked, so ask for the floor plan.

What a 2007 tower needs from its owners

The Continental is old enough to have a track record and young enough that most of its original systems are still in service. That is the stage where a corporation’s planning shows. A board that has been saving steadily can replace elevators, roofing and garage waterproofing on schedule; one that kept fees artificially low may have to catch up.

In a building where utilities are in the fee, mechanical equipment matters even more, because the corporation, not each owner, pays to run it. Ask for the most recent reserve fund study and the list of projects completed in the last five years, and look at whether the fee increases have been gradual or sudden.

None of this is a red flag on its own. It is simply the homework that a buyer in any building of this age should do, and the status certificate, budget and board minutes are where you will find the answers.

Price per square foot, with the fee in context

Condos.ca puts the building average at about $691 per square foot. That is below the newer towers on Yonge and in line with other buildings from the same era, which is what you would expect for a 2007 build without a new-construction premium.

The four suites for sale, all two-bedrooms, were asking from about $565,000 to $649,000, with monthly fees from about $846 to $1,076. To compare fairly, subtract a realistic monthly hydro and heating figure from the fee and then compare it with a building that bills those separately. In many cases, the gap is much smaller than it looks.

Rough numbers help here. Many owners in a sub-metered two-bedroom of this size pay a meaningful amount every month for hydro, plus heating and cooling, and some pay extra for parking. Get recent bills from a friend in a sub-metered building, or ask the listing agent at a comparable building, and add them to that building’s fee. Then compare. Done properly, The Continental’s fee often turns out to be competitive rather than expensive.

For price history, use the building’s own sales record in the data panel, not asking prices.

Building specifications

Amenities at The Continental

Condos.ca lists a concierge, sauna, party room, meeting room and guest suites, and REW adds a gym, a pool and 24-hour security. A pool and sauna in a 272-suite building is a solid package for the price, but it is also part of what your fee pays for, so check the reserve fund plan for them. If you would use the pool and gym every week, they offset a club membership; if you would not, you are still paying your share.

Jatin’s honest take on The Continental

The Continental — 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.