Queensway Condos Finishing in 2027: What’s Closing and What It Means

By Jatin Dua · Broker of Record, RE/MAX Quantum Realty · Updated 2 November 2026 · 9 min read — BLVD Q, Iridesa, Maxium and Joya: what is really finishing on The Queensway in 2027, and what occupancy and closing mean for buyers.

This guide is for buyers who own a pre-construction suite on The Queensway, people thinking of buying one, and owners nearby who want to know how much new supply is coming in 2027. You will see which projects are really close to finishing, what interim occupancy and final closing cost, and what it all means for prices and rents.

Which Queensway condos are finishing in 2027?

Much less than the marketing suggests. I checked the status of each project on the UrbanToronto project database in November 2026.

Sources: UrbanToronto project database (checked 10 November 2026); UrbanToronto, April 2025; Mattamy Homes BLVD Q page; RENX, February 2025. Targets are builder targets, not promises.

BLVD Q is the only condo on the street with a 2027 target and visible construction. UrbanToronto reported in April 2025 that the crane was up, excavation was done and forming of the underground levels had started. Maxium’s launch plan, reported by RENX in February 2025, was to start building in late summer 2025 and target occupancy in early 2027. UrbanToronto still listed it as pre-construction in November 2026, so a 2027 move-in there is not realistic. I compare all three in Joya, BLVD Q and Maxium compared.

What finished on the Queensway in 2025 and 2026?

The bigger wave of new suites already landed. Reina at 689 The Queensway, with 200 units, was registered as a condominium on 23 December 2025. Verge East at 1007, with 341 suites, registered on 8 January 2026, according to the records in my building list linked below. Curio at 801, Kazmir at 880 and 859 West also finished in 2024 and 2025.

Registration is the day the condo corporation is created and buyers can take title. Once a building registers, many investor owners either lease their units or list them for sale. That can bring a burst of listings and rentals in the year after a building finishes. You can see every completed building and its registration date in every condo building on The Queensway.

What is interim occupancy, and what does it cost?

Interim occupancy is the period when you can move into a new condo before the building is registered and before you own it. Ontario’s Condominium Act, section 80, sets the rules. During this time you pay the builder a monthly occupancy fee. The fee cannot be more than the total of three things:

• interest on the unpaid balance of your purchase price, at the prescribed rate;
• a reasonable monthly estimate of property tax for the unit; and
• the projected monthly common expense (maintenance fee) for the unit.

None of it pays down your price. That is why people call it “phantom rent”. Once the building registers, the builder must refund any property tax you overpaid compared with the actual assessment. For a worked example, see interim occupancy fees explained.

What happens at final closing on a new condo?

Final closing happens after registration. You pay the balance of the price, the title moves to you, and your mortgage starts. A few things catch Queensway buyers off guard:

• The appraisal. Your lender lends on today’s appraised value, not your 2023 contract price. With W08 condo medians down from $575,000 to $525,000 in a year (TRREB MLS data via REALM, January to October 2025 vs 2026), some units may appraise below the price you agreed to. You cover any gap in cash.
• Closing adjustments. Read the schedule in your agreement for development charges, utility hookups and Tarion enrolment. Some are capped, some are not.
• Land transfer tax. Inside Toronto you pay both the Ontario and the Toronto land transfer tax at final closing. First-time buyers can claim rebates.

Plan for these early. I go deeper in the appraisal gap at final closing.

What if my Queensway condo closing is delayed?

Every new condo in Ontario comes with Tarion’s delayed occupancy warranty. Your builder sets either a firm occupancy date or a tentative one, and must extend it properly if it moves. If the builder misses the date it is bound to, you may be owed compensation.

Tarion says the maximum compensation is $7,500. It includes $150 a day for direct living costs, such as rent and meals, until you can move in. The details are in the Tarion addendum attached to your agreement. Delays caused by events outside everyone’s control, such as a strike or fire, can extend the dates without compensation.

If your project has not started at all, read the termination and outside-date clauses in your agreement. Those, not the brochure, decide how long you wait and when you can get your deposit back.

Can I still get an HST rebate on a new Queensway condo in 2027?

Maybe, but timing matters. The Canada Revenue Agency’s Notice 346 explains Ontario’s enhanced new housing rebate. It covers new homes, including condo units bought from a builder, where the agreement is signed between 1 April 2026 and 31 March 2027 and the home will be your or a relative’s main residence. It can refund the full 8% Ontario part of the HST up to $80,000 on homes up to $1 million. People who qualify can also get Ontario’s New Home Affordability Payment, up to $50,000 toward the federal part.

Two points matter on this street. First, buyers who signed for BLVD Q back in 2023 do not qualify, because their agreements are too old. Second, an assignment only qualifies if both the original agreement and the assignment were signed inside the April 2026 to March 2027 window. If you are buying a new suite from a builder before 31 March 2027, ask your lawyer to confirm eligibility before you sign.

What should I check before buying in a just-finished Queensway building?

Buying a resale suite in a building that registered in the last year or two is often the easiest way to get a new condo without construction risk. It still needs care:

• The first budget. The first-year maintenance fees are set by the builder’s estimate. Ask the property manager whether the board expects a fee increase once real costs are known.
• The performance audit. Under section 44 of the Condominium Act, the board must hire an engineer or architect to audit the building within its first year after registration. Ask whether it is done and what it found, since it is used to support warranty claims on the common areas.
• The status certificate. Check the reserve fund and any legal actions, and ask how many units the builder still owns.
• Deficiencies in the suite. Ask the seller for their Tarion pre-delivery inspection list and what was fixed.

What will new buildings mean for Queensway prices and rents in 2027?

New supply gives buyers and renters more choice. In October 2026, W08 already had 256 condo apartments listed for sale against 54 sales in the month (TRREB Market Watch). Add BLVD Q’s 210 suites and Iridesa’s 220 rentals, and small units will face real competition in 2027.

The bigger long-term change is further out. The Cineplex site at 1025 The Queensway is approved for 4,077 homes, but none of the largest sites had started building when I last checked. The full list, with each project’s real status, is in the Queensway development pipeline.

Should I close or assign my Queensway pre-construction condo?

If you cannot or do not want to close, an assignment lets you sell your contract to another buyer before final closing. Read your agreement first. Many builders require written consent and charge a fee, and some limit how an assignment can be advertised. Tax can apply to any profit, and HST rules for assignments are tricky. Compare three numbers: what you could net from an assignment, what you would need in cash to close, and what the unit would rent for after closing. My Toronto assignment sale guide walks through the steps.

What to do next

1. Find the firm occupancy date and outside date in your agreement, not the marketing materials.
2. Ask your lender to pre-approve the final mortgage and explain how an appraisal gap would be handled.
3. Add up interim occupancy fees for at least six months in your budget.
4. Have a lawyer check your closing adjustments, any cap on them, and rebate eligibility.
5. Run the suite through the condo value estimator above to see where today’s market sits against your contract price.

Frequently asked questions

Sources

• UrbanToronto: Crane raised at BLVD Q (April 2025)
• Mattamy Homes: BLVD Q, 935 The Queensway
• UrbanToronto project database: Iridesa, 1156 The Queensway
• UrbanToronto project database: Maxium Condos
• RENX: Equiton launches Maxium condo brand at 875 The Queensway
• Condominium Act, 1998 (e-Laws)
• Tarion: Coverage before you close
• CRA Notice 346: Ontario enhanced new housing rebate

Related reading

• The Queensway Housing Market in 2027: Condo and House Prices
• Should You Buy a Condo on the Queensway in 2027?
• Selling a Condo on the Queensway in 2027: Pricing and Timing
• Renting on the Queensway in 2027: Condo Rents and Where to Look