Residences of Ridley, 265 Ridley Blvd: Big Suites Near Avenue and Wilson

The Residences of Ridley Boulevard is a building with no small suites. Every plan here is over 1,000 square feet, and the price per foot is well below what you pay a few kilometres south on Avenue Road. That makes it one of the more practical options in this area for people leaving a house who want real rooms. I’m Jatin Dua, RE/MAX Quantum Realty.

Sources disagree on the basics, so here is what holds up

Two listing databases describe this building differently. Condos.ca lists 52 floors, which cannot be right for a building of 153 large suites. REW lists 18 storeys, which fits the suite numbers I have seen in listings. I am going with 18, and I would confirm it in the status certificate.

The developer is also unsettled. Condos.ca does not name one, while REW credits Tridel. I have only one source for that, so treat it as unconfirmed. If the builder matters to you, check the original declaration, and either way judge the building on its records today rather than on the name.

The facts that do agree: 153 suites, a corporation registered as MTCC-1105 in January 1996, and Del Property Management as the manager.

No suite under 1,000 square feet

Condos.ca puts the suite range at about 1,070 to 1,738 square feet. That is the defining feature of the building. There are no studios and no compact one-bedrooms; even the smallest plan is larger than many new two-bedrooms.

That tells you who the building was designed for. Even a one-bedroom-plus-den plan here is sized like a modest two-bedroom elsewhere, and the larger plans are true two-bedroom-plus-den homes. For downsizers, that means room for a real dining table, a guest bedroom or an office, and space for furniture brought from a house.

Plans from the mid-1990s usually have more hallway, separate dining rooms and closed kitchens than new construction. Many owners have renovated, but condition varies a lot. Walk the suite with a floor plan, and price in any kitchen or bathroom work you would want. In a building where every suite is large, a dated suite can need a sizeable renovation budget, and that should come off your offer, not out of your savings later.

What the fee covers, and the amenity package

Condos.ca lists common elements, building insurance, parking and water as included. Heat and hydro are not on that list, so budget for both, and ask the seller for a year of bills. In a suite of 1,200 square feet or more, heating and cooling are a real part of your monthly cost.

The amenity list is fuller than most buildings this size. Condos.ca lists a concierge, party room, guest suites, meeting room, sauna and underground parking, and REW adds a pool, a gym and 24-hour security. I would confirm the pool in person, because a pool in a 153-suite building is a significant operating cost and an important line in the reserve fund.

Both listing sites indicate that pets are allowed, with REW saying cats and dogs. Read the declaration and rules for any size or number limits before you rely on that.

Daily life near Avenue Road and Wilson

The building sits near Avenue Road and Wilson Avenue, just north of Highway 401. That is a strong location for drivers: you are minutes from the 401 and Allen Road, and Avenue Road takes you south toward Lawrence and midtown.

The area around it is mostly detached houses on quiet streets, with shops and services along Wilson and Avenue Road. It is a residential setting rather than a walk-everywhere one, and the panel beside this review shows the Walk Score, nearest transit and zoned schools.

There is another condominium next door at 271 Ridley Boulevard, a separate corporation with its own board and budget. If you are shopping both, compare their status certificates and fee inclusions side by side rather than assuming they are run the same way. Two buildings on the same street can have very different reserve funds, fee histories and rules, and those differences show up in what you pay every month.

Large suites at a lower price per foot

Condos.ca puts the building average at about $556 per square foot. That is well below the per-foot prices of newer buildings along Avenue Road and Yonge, and because every suite is large, the total price is still substantial. Put another way, you are trading a newer building’s finishes and smaller rooms for space, and for many downsizers that is the right trade.

Two suites were listed for sale when I checked, asking between $525,000 and $752,999, with fees of about $1,030 to $1,257 a month. Since heat and hydro are extra, add your own utilities to that fee when you compare it with buildings that include them.

At roughly 30 years old, this building is in the period when large capital items come due. Some of that cost is already in the fee; some may still be ahead. The reserve fund study tells you which, and it is the single most important document to read before you make an offer. Ask too for the last two years of board minutes, which show what repairs are being discussed before they reach the budget.

If you want recent sales for a specific layout, book a call and I will walk you through what similar suites have actually sold for.

Building specifications

Amenities at Residences of Ridley Boulevard

For a building of 153 suites, this is a full package: a concierge and round-the-clock security, guest suites, a sauna, and, according to REW, a pool and gym. For downsizers who host family and want to swim without a club membership, that combination is hard to find in this part of North York. It also means a higher fee than a bare-bones building, so decide which of these you will actually use.

Jatin’s honest take on Residences of Ridley Boulevard

Residences of Ridley Boulevard — frequently asked questions

Looking at York Mills, Don Mills, Lawrence Park, Bathurst Manor and midtown-north Toronto more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.