Published 23 October 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
Building at a glance · Humber Bay Shores
What's Your Home Worth Right Now?
Get a free AI-powered price range for your property in under 90 seconds, based on recent GTA comparable sales. No name or address required.
Get My Free Estimate →Water's Edge at The Cove in one look.
38 Annie Craig Dr, Toronto
Built
2025
Storeys
56
Suites
602
Developer
The Conservatory Group
Free · about 45 seconds · no obligation
What is your unit at Water's Edge at The Cove worth today?
Floor, exposure, parking and this building’s own recent sales move the number. Your estimate appears instantly, and a written CMA from me is one tap after.
- Uses this building’s own recent sales
- Adjusts for floor, view and parking
- Your number appears instantly
Transit, nearest first
- 66Prince EdwardTTC busSteps away
- 80QueenswayTTC busSteps away
- 507Opposite 2155 Lake Shore Blvd West507 Long Branch streetcarSteps away
- 76Royal York SouthTTC bus1.2 km
- GOMimico GOLakeshore West line1.9 km
- 2Jane stationLine 2 Bloor–Danforth2.7 km
TTC is renewing streetcar track at Long Branch Loop through late 2026; some Lake Shore streetcar trips run as buses.
Distances are straight-line from the building.
How far is everything?
From the front door, in kilometres.
Schools for this address
Public schools from the TDSB school locator, checked 18 October 2026. Boundaries change: confirm with the board before you buy.
ElementaryJK–8
John English Junior Middle School
95 Mimico Ave, Etobicoke
2.0 km
Zoned for this address
High schoolGr 9–12
Lakeshore Collegiate Institute
350 Kipling Ave, Etobicoke
4.2 km
Zoned for this address
Catholic elementary
St Mark Catholic Elementary School
1.3 km · ~20 min walk
Nearest, confirm zoning
Catholic elementary
St Louis Catholic Elementary School
1.8 km
Nearest, confirm zoning
Catholic secondary
Bishop Allen Academy
2.3 km
Nearest, confirm zoning
French-language · MonAvenir (Catholic)
St Marguerite D'Youville Catholic Elementary School
2.5 km
Nearest, confirm zoning
Catholic (TCDSB) and French-language schools shown are the nearest to the building, not confirmed zoning. Check the TCDSB school locator, Viamonde or MonAvenir.
By the numbers
What units at Water's Edge at The Cove actually trade for
| Unit type | Sold | Median price | Leased | Median rent |
|---|---|---|---|---|
| 1 bed | 2 | too few | 86 | $2,375/mo |
| 2 bed | 1 | too few | 34 | $2,875/mo |
Table covers the last 24 months. TRREB MLS® System aggregates; a median is shown only with 3 or more deals, and sizes come from listing ranges. Not an appraisal: get an estimate for your unit.
Living here
Renters, Airbnb and elevators at Water's Edge at The Cove
Do mostly owners or renters live here?
Renter-heavy building. Of 371 deals here in the last 24 months, 368 were leases and 3 were sales. A high lease share usually means more investor owners, more move-ins and a deeper pool of rental comparables.
Can you Airbnb a unit at Water's Edge at The Cove?
Some owners here hold City registrations, but the condo’s own declaration and rules can still forbid short stays. In Toronto you can only host in your principal residence, a whole unit for at most 180 nights a year, with a $390 yearly registration and 6% accommodation tax. You cannot buy here to run it as a full-time Airbnb. Check the condo’s rules in the status certificate before you count on it.
How reliable are the elevators?
Ontario requires residential buildings to report any elevator outage lasting 48 hours or more, and this address has none on record. Elevators still need modernizing every 25 to 30 years, so check the reserve fund study for the date.
Sources: TRREB MLS® System lease and sale counts; City of Toronto short-term rental registrations (Open Data, 18 Oct 2026); TSSA Residential Elevator Availability portal.
Before you buy here
Five things the listing will not tell you about Water's Edge at The Cove
- Reserve fund health. Ask for the latest reserve fund study and its date. A thin fund in an older building usually means fee jumps or a special assessment.
- Special assessments and big repairs. Check the status certificate for planned levies and for balcony, garage, window or elevator work.
- Insurance deductible. Find the corporation’s deductible for water damage. If it is higher than your own policy covers, raise your coverage before closing.
- Fee trend. Compare this year’s budget with last year’s. Rises of 2–5% a year are typical; bigger jumps need an explanation.
- Lawsuits and rules. Look for legal claims against the corporation, and for rules on pets, short-term rentals and leasing.
Send me the status certificate and I will flag anything that matters before your conditional period runs out.
Get my status certificate reviewedWatch this building
Know the moment a unit at Water's Edge at The Cove lists or sells.
Portals tell you a listing exists. I tell you whether it is priced right for this building, which stack it is in, and what the last comparable unit actually went for.
- New listings for sale or rent here
- What units sold for, with my read on it
- No account, no spam, stop with one reply
Building alerts
Takes about twenty seconds.
Eat, drink and shop nearby
Within about a 10-minute walk.
Bakery
San Vito Bakery
Steps away
Italian
La Vecchia Ristorante
Steps away
Coffee
Second Cup
Steps away
Restaurant
Metanoia Cafe and Desserts Bar
Steps away
Restaurant
Bb Cafe
Steps away
Restaurant
Casa Boho Juice Bar & Cafe
Steps away
Places from OpenStreetMap. Check hours before you go.
Parks nearby
- Humber Bay Shores Park
- Jean Augustine Park
- Humber Bay Park East
Nearest grocery
Metro
0.5 km · ~8 min walk
Prices: TRREB MLS® System aggregate medians for 38 Annie Craig Dr, last 12 months (updated 18 October 2026), compiled by Jatin Dua, Broker of Record, RE/MAX Quantum Realty Inc., Brokerage; deemed reliable, not guaranteed. Schools: TDSB school locator; Catholic and French schools: nearest by distance. Transit and scores: Walk Score® and TTC/GO station locations. Nearby places: OpenStreetMap. Distances are straight-line estimates.
Water’s Edge at The Cove at 38 Annie Craig Drive rises 56 storeys over the Humber Bay Shores waterfront, and it took about a decade to get built. It is brand new, it has a full amenity package, and there is a lot of resale supply on the market right now. That combination can work in a buyer’s favour, if you know what to check. I’m Jatin Dua, RE/MAX Quantum Realty.
Quick answer
Water’s Edge at The Cove is a 56-storey condominium tower at 38 Annie Craig Drive, off Lake Shore Boulevard West near Park Lawn Road, in the City of Toronto’s Humber Bay Shores neighbourhood in Etobicoke. It was developed by The Conservatory Group and designed by Richmond Architects, stands about 182 metres, and was completed in 2025. Suite counts differ slightly by source: 602 on condos.ca and 606 on UrbanToronto. Maintenance fees include common elements, heat, air conditioning, building insurance and water. The condominium corporation number was not published in my sources.
Water’s Edge at The Cove at a glance
A ten-year build, finally finished
UrbanToronto described Water’s Edge as having a construction timeline of roughly a decade, with slow early sales and changes in direction along the way. The Conservatory Group finished its 16-storey neighbour, The Cove at Waterways, and focused on selling it while this tower was paused.
By October 2023 the tower had reached the 48th floor, and by early 2024 the podium was clad and interior finishing had started. Condos.ca now lists the building as completed in 2025, and there is an active resale and rental market here.
Why does the history matter to you? Because a building that took this long often has a large share of original buyers who are now closing, reselling or leasing at the same time. That is exactly what the current supply looks like.
It also means the building is still settling in. In the first year or two of a new tower, owners are usually still working through deficiency lists, the board is new, and the property manager is learning the building. None of that is unusual, but it is a different experience from buying in a tower with ten years of history behind it.
The tower and the podium
At 56 storeys and about 182 metres, Water’s Edge is a tall single tower by Richmond Architects. The podium has an angular form, and reflective glass balcony guards give the facade a shifting pattern as you walk past. A separate two-storey commercial building sits beside Lake Shore Boulevard West.
Suites recorded on condos.ca range from about 466 to 1,477 square feet. In practice, the listings on the market right now are mostly one-bedrooms and one-plus-dens under 600 square feet, with only a few two-bedrooms. The larger plans exist but are less common on the market.
On a building this tall facing the lake, orientation is everything. A south or east-facing upper suite with a clear lake or skyline view is a different product from a lower suite facing the neighbouring towers, even at the same size. Price them separately.
Thinking about buying or selling here?
I work this area every week and I will give you a straight answer, including when the answer is to wait. No pressure, and no drip campaign you cannot get out of.
Call or text 833-330-1925 Send me a message
Jatin Dua, Broker of Record — RE/MAX Quantum Realty Inc., Brokerage. Not intended to solicit buyers or sellers currently under contract with another brokerage.
Heat, cooling and water in the fee
Condos.ca lists the fee inclusions as common elements, heat, air conditioning, building insurance and water. Having heating and cooling inside the fee is less common in new towers, many of which meter heating and cooling to each suite, and it makes your monthly costs more predictable.
Across the current active listings, fees run from about $317 to $467 a month on suites that are mostly under 700 square feet. Hydro and internet are not on the inclusion list, so budget for them separately. Because this is a first-year building, remember that the fee you see now comes from the developer’s first budget, not years of actual operating history.
First budgets are often set low, and fees in new towers commonly rise once the board has a year or two of real costs to work from. I would plan for increases rather than assume today’s number holds, and compare the budget’s reserve fund contribution with what the reserve fund study recommends.
Living at Lake Shore and Park Lawn
In plain terms, this is Lake Shore Boulevard West near Park Lawn Road, in the cluster of towers that make up Humber Bay Shores. Neighbours include The Cove at Waterways, Ocean Club, Jade Waterfront, Lago at the Waterfront and Key West, so you are buying into an established condo community rather than a lone tower.
The draw is the waterfront itself: the lake, the trail and the parks along the shore. The data panel on this page covers transit, grocery, parks and schools. What I tell buyers is to drive the Lake Shore approach at rush hour before you commit. A cluster of this many towers funnels a lot of cars onto a few roads, and you should know what your commute feels like before you sign.
What the current listings tell you
There were eight active listings in the data I worked from, asking from about $444,900 to $580,000. Most of that supply is compact one-bedroom stock, which is why the range is tight. Eight listings at once in a single new tower is a lot of choice, and it gives you leverage on price and closing terms.
Condos.ca did not publish a building average per square foot here yet, which is normal for a building this new with little closed resale history. Use the sold and leased medians in the automatic panel as they build up, and compare against the older Humber Bay Shores towers nearby.
A lot of supply in a new building usually means room to negotiate, especially where several sellers have similar suites. I would rather you buy the best-facing suite in a crowded field than the cheapest one. When you resell, it will be up against the same kind of supply again, and the suite with the better view and layout is the one that sells first.
Building specifications
| Building name | Water’s Edge at The Cove |
| Address | 38 Annie Craig Dr, Toronto (UrbanToronto also lists 38 The Marginal Blvd) |
| Developer | The Conservatory Group |
| Architect | Richmond Architects |
| Landscape architect | Alexander Budrevics & Associates |
| Storeys | 56 |
| Height | About 182 m |
| Total suites | Sources differ: 602 (condos.ca) or 606 (UrbanToronto) |
| Completed | 2025 |
| Suite sizes | About 466 to 1,477 sq ft as recorded on condos.ca |
| Maintenance fees | About $317 to $467 a month across current active listings |
| Fees include | Common elements, heat, air conditioning, building insurance and water |
Amenities at Water’s Edge at The Cove
This is a full lifestyle package, with an indoor pool, gym, media room and guest suites, so you will not need a separate gym membership. Guest suites matter more than people expect in a building full of one-bedrooms.
Jatin’s honest take on Water’s Edge at The Cove
Who this building suits
Water’s Edge suits first-time buyers and young couples who want a brand-new building on the waterfront at a lower entry price than downtown, and investors looking for compact rentable suites. It also suits buyers who want predictable costs, since heat, cooling and water are in the fee.
What I’d want you to check
Confirm on the status certificate that the corporation is registered and that you are buying a deeded suite, not taking over an interim occupancy. Then read the first-year budget and the reserve fund study critically, because there is no operating history yet. Ask whether the Tarion warranty deficiency process for the common elements is complete, whether parking and a locker are included. Read the board minutes too.
The value question
With heat, cooling and water inside the fee and plenty of competing listings, the value case is decent for a buyer who can be patient and pick the right suite. The risk is buying a small, low, poorly oriented unit in a building with a lot of similar supply, which will be hard to resell. If you want my read on a specific suite here, book a call.
Free building report: Water’s Edge at The Cove
Send me your email and I’ll put together a current report on Water’s Edge at The Cove — real sold comparables, what’s listed right now, and what the maintenance fees actually cover.
- Every sale in the building over the last 12 months
- Current active listings and asking prices
- Maintenance fee breakdown and what’s included
- My read on which exposures and floors hold value
Tell me what you are planning
Three quick answers so I come back with something useful, usually the same day.
Thinking about buying or selling here?
I work this area every week and I will give you a straight answer, including when the answer is to wait. No pressure, and no drip campaign you cannot get out of.
Call or text 833-330-1925 Send me a message
Jatin Dua, Broker of Record — RE/MAX Quantum Realty Inc., Brokerage. Not intended to solicit buyers or sellers currently under contract with another brokerage.
Water’s Edge at The Cove — frequently asked questions
Who developed Water’s Edge at The Cove?
The Conservatory Group developed it, with architecture by Richmond Architects and landscape design by Alexander Budrevics & Associates.
How tall is Water’s Edge at The Cove?
It is 56 storeys and about 182 metres tall, one of the taller towers in Humber Bay Shores.
When was Water’s Edge at The Cove completed?
Condos.ca lists it as completed in 2025, after a construction timeline of about ten years.
How many suites are in Water’s Edge at The Cove?
Sources differ slightly: condos.ca lists 602 suites and UrbanToronto lists 606.
What do maintenance fees include at Water’s Edge?
Condos.ca lists common elements, heat, air conditioning, building insurance and water. Hydro and internet are not on the list.
What are the maintenance fees at Water’s Edge at The Cove?
Across current active listings, fees run from about $317 to $467 a month, mostly on suites under 700 square feet.
Does Water’s Edge at The Cove have a pool?
Yes, condos.ca lists an indoor pool along with a gym, media room, library, games room and guest suites.
How big are the suites?
Condos.ca records suites from about 466 to 1,477 square feet. Most suites on the market are one-bedrooms and one-plus-dens under 600 square feet.
How does it compare to The Cove at Waterways?
The Cove at Waterways is the Conservatory Group’s 16-storey neighbour, finished earlier. Water’s Edge is much taller and newer, with more view potential on upper floors.
What should I check before buying a suite here?
Confirm registration on the status certificate, review the first-year budget and reserve fund study, and check what parking and locker rights come with the suite.
How much do condos at Water's Edge at The Cove sell for?
Over the last 12 months the median resale at Water's Edge at The Cove was $560,000, across 3 sales. The typical unit sold in 37 days at about 95% of the asking price. That works out to roughly $869 per square foot.
How much is rent at Water's Edge at The Cove?
The median lease at Water's Edge at The Cove over the last 12 months was $2,450/mo, from 121 leases. Units typically leased in 17 days.
What does each unit type cost at Water's Edge at The Cove?
Over the last 24 months: One-bedrooms rented for $2,375/mo; Two-bedrooms rented for $2,875/mo. Each median uses three or more deals.
What rental yield does Water's Edge at The Cove offer an investor?
At a median price of $560,000 and a median rent of $2,450 a month, the gross yield is about 5.3%, before maintenance fees, property tax, insurance and mortgage interest. Net cash flow depends on the fee and your down payment, so run the numbers for the exact unit.
Do mostly owners or renters live at Water's Edge at The Cove?
Mostly renters. Of the deals here in the last 24 months, 99% were leases and 1% were sales.
Can you Airbnb a unit at Water's Edge at The Cove?
Only in limited cases. Toronto allows short-term rentals only in your principal residence, a whole unit for at most 180 nights a year, with a $390 yearly City registration and 6% accommodation tax. The City’s register shows 6 active short-term rental registrations at this address. The condo’s declaration and rules can ban short stays outright, so check them in the status certificate.
Has Water's Edge at The Cove had elevator outages?
None on record. Ontario requires residential buildings to report elevator outages of 48 hours or more to TSSA, and this address has no reported outage since July 2022.
What schools is Water's Edge at The Cove zoned for?
For TDSB public schools, the address is zoned for John English Junior Middle School (Elementary, JK–8), Lakeshore Collegiate Institute (High school, Gr 9–12). Catholic and French-language schools are listed on this page by distance. Boundaries change, so confirm with the board before you buy.
What is the closest subway or GO station to Water's Edge at The Cove?
The nearest subway is Jane station (Line 2 Bloor–Danforth), 2.7 km away; the nearest GO station is Mimico GO on the Lakeshore West line, 1.9 km; the 507 Long Branch streetcar stops 0.1 km away; the closest bus is the Prince Edward (TTC bus). Distances are straight-line from the building.
What restaurants and shops are near Water's Edge at The Cove?
Within about a 10-minute walk: San Vito Bakery (Bakery), La Vecchia Ristorante (Italian), Second Cup (Coffee), Metanoia Cafe and Desserts Bar (Restaurant), Bb Cafe (Restaurant). The closest grocery store is Metro, 0.5 km away.
Which parks are near Water's Edge at The Cove?
Humber Bay Shores Park, Jean Augustine Park, Humber Bay Park East are the closest green spaces.
What is my unit at Water's Edge at The Cove worth?
Use the free AI estimator at the top of this page. It uses this building’s own recent sales and adjusts for floor, view and parking, and your number appears instantly. For a written CMA, I will price your exact unit against the latest comparable sales.
How do I find out when a unit at Water's Edge at The Cove lists or sells?
Join the building alerts on this page. I watch this building by hand and will tell you when a unit lists, sells or drops in price, with my read on whether it is priced right.
Looking at Toronto more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.
Condo Valuation
What’s your condo
worth today?
Three quick steps. Condos don’t price like houses — your floor, your view, and whether you own parking move the number more than anything else. This weighs all of them.
Reading recent condo sales…
Estimated market value
—
$0–$0
Most likely $0 · about $0 per square foot
What moved the number
Starting from what comparable units in your area sell for, here’s what your specifics added or subtracted.
Market context
—
—
Two units, same floor plan,
$90,000 apart.
That happens constantly in condos — one has the parking, the right exposure, or a board that keeps the reserve fund healthy. A model can’t see your status certificate. I can.
About the author — Jatin Dua, Toronto condo broker
I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty. I work condo buildings across Toronto and the GTA every week, including Toronto. What buyers and sellers usually need is someone who knows the individual buildings: which exposures get the light, which corporations keep healthy reserve funds, and which units are priced past what they will appraise for.
If you’re buying or selling at Water’s Edge at The Cove, I’ll give you the honest version — including when I think you should walk away. Reach me at [email protected] or 833-330-1925, or book a free consultation.
More Toronto building guides: 55C Condos · Artists’ Alley Condos · Eau du Soleil Condos · English Ivyway Townhouses · Minto Westside · Peter & Adelaide Condos
More resources: GTA condo directory · Building sold report · Book a call
More condo buildings in Humber Bay Shores
- Eau du Soleil Condos2183 Lake Shore Blvd W / 30 Shore Breeze Dr · median sold $545K
- South Beach Condos and Lofts88 Park Lawn Rd · median sold $825K
- Vita on the Lake70 Annie Craig Dr · median sold $580K
- Lago at the Waterfront56 Annie Craig Dr · median sold $606K
- Palace Place1 Palace Pier Crt · median sold $1M
- Key West Condos36 Park Lawn Rd · median sold $545K
- Palace Pier2045 Lake Shore Blvd W · median sold $1.17M
- Ocean Club Waterfront Condominiums59 & 60 Annie Craig Dr · median sold $550K
© 2026 Jatin Dua, Broker of Record, RE/MAX Quantum Realty Inc., Brokerage. The building data on this page was compiled and verified by Jatin Dua. Reproduction or republication, in whole or in part, requires written permission. To request permission, call 833-330-1925.
