Ridelle Plaza, 2 Ridelle Ave: A Co-Ownership Building Turned Condo

Ridelle Plaza looks like an ordinary six-storey building at the Bathurst end of Ridelle Avenue, but its history is anything but ordinary. It started life as a co-ownership building and only became a registered condominium in 2011, after a City-approved conversion. That history shapes the reserve fund, the parking and how you should read the paperwork. I’m Jatin Dua, RE/MAX Quantum Realty.

From co-ownership to condominium

Before 2011, owners at 2 Ridelle held a share of the whole building rather than title to their own suite. That is the co-ownership model, and it makes buying, selling and financing harder, because many lenders are cautious about it. Converting to a condominium gave each owner a registered unit of their own.

The conversion went through the City. An application was filed in February 2007 to convert what the City described as an existing 44-unit residential co-ownership building, and because some units were rented, City Council had to approve it. Council granted draft approval in October 2007, and the approval was reissued in late 2010 to give the owner until October 2011 to register. TSCC-2187 was registered on 21 October 2011.

This is why condos.ca shows 2011 as the year built. The building itself is older. I could not find the original construction date, so ask for it, because the age of the structure, not the corporation, is what drives the major repair schedule.

What the conversion conditions mean for you

The City’s conditions were demanding, and that is good news for a buyer. Before registration, the owner had to commission a comprehensive reserve fund study, with an architect and an engineer doing the physical review, and to complete the repairs it identified, including any outstanding City work orders and property-standards items, at its own cost.

The owner also had to fund the reserve at the higher of the study’s recommendation and the legal minimum, and the declaration had to require an easy-to-read table showing each unit type’s expected annual reserve contribution. Those requirements were designed to protect buyers of older converted buildings from inheriting a building with nothing in the bank.

That was 2011, though. What matters now is whether the corporation has kept up. Ask for the most recent reserve fund study and the current balance, and compare the planned contributions with the major items an older building faces: roof, windows, balconies, the garage and the heating plant.

The conditions also protected the people already living there. Council approval was needed because some units were rented, and the owner agreed not to pass the conversion costs, or any tax increase from the new condominium assessment, on to existing tenants as rent increases. For a buyer today, the practical point is simple: if a suite is tenanted, ask when the tenancy started and on what terms, because you take the building’s history with the unit.

Parking: read this before you firm up

The City’s conditions are unusually specific about the garage. They called for 17 single parking spaces plus eight two-car tandem spaces, all held as common elements rather than owned with a unit. That is about 33 cars for a building of roughly 44 suites.

Many spaces were also flagged as designed for small cars only, and buyers were to be told in the declaration and offers that a full-size space is not guaranteed. Eight of the spaces are tandem, which means one car can block another. The conditions also note that the westerly garage access may be closed in future to make room for two more spaces.

If parking matters to you, do not assume a suite comes with one. Ask how spaces are assigned, whether yours is single or tandem, whether it fits your car, and whether there is a waiting list. Measure your car, then measure the space.

Living at Bathurst and Ridelle

Ridelle Avenue runs west from Bathurst Street in Forest Hill North, a residential stretch north of Eglinton Avenue where low-rise apartment buildings sit beside detached houses. The Bathurst corridor here is practical rather than polished, with everyday shops and services rather than a destination strip.

The building is small, with only a security system and permitted barbecues listed as amenities. There is no gym, pool or concierge. For many owners that is the appeal: fewer shared costs, a quieter lobby, and a fee that goes mostly to the building itself and the heat.

Sitting at the Bathurst end of the street means a busy arterial close by and a residential side street beside it. Which way a suite faces matters more here than in a tower, so ask about the exposure of the specific unit and visit at rush hour as well as on a quiet weekend morning.

Pricing a converted building

Condos.ca does not publish a building average per square foot for Ridelle Plaza. When I checked in October 2026 there was one unit listed for sale and two for rent, which is too thin to describe a price range, so I would anchor on the sales shown in the panel on this page.

When you compare, account for what the fee covers. Heat, water and cable are included here, and those are separate bills in many newer buildings. Parking is not guaranteed with every suite, so a unit that comes with an assigned space should be valued differently from one that does not.

Older converted buildings often trade at a lower price per square foot than newer condos nearby, and the larger, more traditional suite sizes can make that gap look bigger. Whether it is good value depends almost entirely on the reserve fund and what the building has already replaced.

Building specifications

Amenities at Ridelle Plaza

There is almost no amenity package here, and that is part of the value. The fee is paying for the building, the heat and the insurance rather than a pool or a concierge desk.

Jatin’s honest take on Ridelle Plaza

Ridelle Plaza — 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.