Terraces on Danforth, 3520 Danforth Ave: Mid-Rise Living at Warden

Terraces on Danforth is the kind of building I wish Toronto had more of: seven storeys, 95 suites, shops at grade and real outdoor space, at Danforth and Warden. It was finished in 2014 by Liberty Development and still trades at one of the lower prices per square foot of any newer building in the east end. The question is whether you are buying it for today or for the Danforth that is coming. I’m Jatin Dua, RE/MAX Quantum Realty.

A mid-rise designed around outdoor space

Liberty Development and SMV Architects built this one around a simple idea: connect residents to the outdoors. That shows up in two ways. Suites have large balconies, which is where the Terraces name comes from, and there is a shared terrace garden on the seventh floor.

UrbanToronto covered the building as it topped out in 2013 and framed it as part of a wider shift toward mid-size buildings in the neighbourhoods around the core, where towers had dominated. At seven storeys, it fits the Danforth’s scale rather than looming over it, with a precast and glass exterior.

There is new retail at the base along Danforth, meant to serve both residents and the existing neighbourhood. For a buyer, retail at grade on an avenue like this is a practical plus: errands you can do in slippers.

Scale also shapes daily life inside. Ninety-five suites means fewer people waiting for the elevator, a party room you can actually book, and a board whose decisions you can follow. It also means fewer owners to share any large repair, which is why I always read the documents closely in buildings of this size.

Layouts: from compact one-bedrooms to family-size suites

Suites here run from about 545 to 1,215 square feet. That is a wider spread than most buildings of this size, and it means you can find everything from a starter one-bedroom to a suite large enough for a small family.

In a 95-suite building, the larger plans are a small share of the total, so they do not come up often. If you want one of the bigger suites, or one with a top-floor terrace, register your interest and be patient rather than settling for the first thing listed.

The balconies are the thing to inspect on a viewing. Size, exposure and what you look at vary a great deal from suite to suite, and in a building that sells itself on outdoor space, the balcony is a big part of what you are paying for.

Fees: heat and cooling in, parking out

The fee covers air conditioning, common elements, heat, building insurance and water. Having heat and cooling in the fee is valuable in a 2014 building, because it keeps monthly costs steady through the year.

Parking is not on the inclusion list. If the suite you are looking at has a space, ask how it is held and whether there is a separate charge, and ask the same about lockers. I did not find current fee figures for this building, so get the exact monthly fee from the listing and the status certificate, and work it out per square foot before you compare.

When you compare this building with a newer tower nearby, line up the inclusions, not just the headline fee. A tower with a lower fee but metered heating and cooling can end up costing more each month once you add those bills back, while a building with parking bundled in may look more expensive than it really is.

Danforth and Warden, and what is changing

This stretch of Danforth is still mostly low-rise, a mix of older commercial strips, plazas and houses on the side streets. It is quieter and less polished than the Danforth west of Victoria Park, and that is exactly why prices here are lower.

That is changing. UrbanToronto is tracking tower proposals along this part of Danforth, including a 36-storey plan at 3130 Danforth Avenue and discussion of the Shoppers World Danforth lands. Proposals are not buildings, and timelines in this city are long, but if even some of this happens, the strip around Terraces on Danforth will look very different in ten years.

For an owner here, that brings more shops and services within walking distance, and more competition from new suites when they arrive. Transit, schools and walkability details are in the automatic panel on this page.

What Terraces on Danforth costs

The building averages about $558 per square foot. For a mid-rise finished in 2014 with heat and cooling in the fee, that is low by Toronto standards, and it reflects the east-end Scarborough location more than anything about the building itself.

There were no active listings at the time of writing. With only 95 suites, supply is thin, so the 12-month sold data in the panel above may rest on a small number of trades. Treat any average as a starting point, not a verdict.

Within the building, price will follow size, floor and balcony. The upper floors near the rooftop garden and the suites with the larger terraces are the ones I would expect to hold their value best. If you are selling one of those, make the outdoor space the centre of the listing, because that is what buyers here are paying for.

Building specifications

Amenities at Terraces on Danforth

The amenity package centres on the seventh-floor terrace garden and outdoor patio, where BBQs are permitted, plus a party room, meeting room, security system and visitor parking. There is no pool or large gym, which helps keep a 95-suite building’s operating costs in check.

Jatin’s honest take on Terraces on Danforth

Terraces on Danforth — frequently asked questions

Looking at the Junction, Corso Italia, Hillcrest Village and west-central Toronto more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.