1881 Jane Street Condos: A 36-Suite 1979 Mid-Rise With a High Fee

1881 Jane Street is the kind of building where the asking price and the monthly fee tell two different stories. The suites are large and some of the cheapest in the city, but the fee is high for a 36-suite, seven-storey building from 1979. If you understand why, it can still work; if you do not, walk away. I’m Jatin Dua, RE/MAX Quantum Realty.

The fee is the first thing to understand

Fees on the four suites currently for sale are almost identical, at about $1,320 a month, which works out to roughly $1.39 per square foot on the active listings. For a building of this age and size in northwest Toronto, that is high. Many nearby towers from the same period sit closer to 80 cents to a dollar.

The published inclusions are air conditioning, common elements, building insurance, parking and water. Heat is not on that list, which is unusual for a building that includes air conditioning, so confirm exactly how suites are heated and cooled and which utilities each owner pays directly.

A high fee in a small building usually has one of three explanations: a costly utility included in the fee, a reserve fund that is being rebuilt after years of underfunding, or a major repair being paid for gradually. Each means something different for a buyer. The budget, the reserve fund study and the board minutes will tell you which applies here.

A 36-suite building on Jane Street

With 36 suites over seven storeys, this is one of the smaller elevator buildings in the area. That brings the usual small-building strengths: fewer neighbours, a quieter lobby and a board that owners can actually reach. It also brings the usual weakness: every large repair is split among very few owners.

The amenity list is basic: a parking garage, visitor parking and a pet restriction. There is no gym, pool or party room listed. Part of the high fee, then, is not paying for amenities; it is paying for the building itself and what it includes.

Maple Ridge Community Management manages the corporation. In a small building, the quality of management shows quickly, so ask how long the current manager has been in place and how the corporation communicates with owners.

Small corporations also have less room to absorb surprises. A single roof replacement or elevator modernization, divided among 36 owners, can mean a large bill each. That is why I treat the reserve fund study as the most important document in this purchase, more important than the suite itself.

Suites: big, but check the measurements

Only one suite size, about 942 square feet, is reported for the building, yet the listings on the market include both two- and three-bedroom plans. A single figure cannot describe both. Treat 942 square feet as a rough guide and ask for the actual floor plan of any suite you are considering.

What is clear is that these are family-sized homes. In a 1979 building, expect separate dining space, generous closets and balconies, but also original systems and finishes in some suites. The gap between an updated suite and an original one can be large, and it should be reflected in the price.

Before you buy, also ask whether in-suite laundry is permitted or present, and what the rules are for renovations. Older buildings often have strict rules about plumbing and electrical changes.

Jane Street, Weston and the UP Express

1881 Jane Street sits on the stretch of Jane between Lawrence and Highway 401, on the edge of Weston. Weston grew up as a separate town along Weston Road, and its historic main street, with small shops and services, is still the area’s commercial heart.

The practical advantage of this location is the Weston station on the Kitchener GO line, which is also a stop on the UP Express between Union Station and Pearson Airport. For a commuter, that is a fast train to downtown that many people in this part of the city overlook. The panel on this page shows the walking distance, so check it rather than assume.

Jane Street itself is a busy arterial with bus service, and Highways 400 and 401 are nearby for drivers. This is a practical location rather than a picturesque one, which is part of why prices are so low. For a buyer who works downtown or travels often, though, a train station this close changes the calculation, and I would weigh it heavily.

Pricing: cheap to buy, expensive to carry

The reported building average is about $498 per square foot, higher than some larger towers nearby because the reported suite sizes are small relative to the bedroom counts on the market. With sizes this uncertain, I would not lean on that figure.

Four suites are for sale at the time of writing, asking between about $299,000 and $469,000. In a 36-suite building, four listings at once is more than one in ten of the corporation. That deserves a question: is there a fee increase, a special assessment or a project that owners are reacting to?

The real cost of owning here is the fee. At about $1,320 a month, it adds as much to your carrying cost as a significant amount of extra mortgage. Before you compare prices, compare total monthly cost with buildings like those nearby, and get the sold history from my building sold report.

Building specifications

Amenities at 1881 Jane Street Condos

There is very little here beyond parking. That is not a criticism, but it means the high fee is not explained by facilities, so you need to find out what it is explained by.

Jatin’s honest take on 1881 Jane Street Condos

1881 Jane Street Condos — frequently asked questions

Looking at Downsview, Weston, York University Heights, Rexdale and northwest Toronto more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.