Published 30 August 2026 · Updated 5 October 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
Three different buildings are called IQ, and the confusion is now embedded in data feeds across the internet. If you are being shown “IQ”, establish which one — Phase 1 and 2 are built, Phase 3 is not.
This is the single most confused set of buildings on The Queensway, and the confusion is now embedded in data feeds across the internet. If you are being shown “IQ,” you need to know which one.
Three different things called IQ
| Phase 1 & 2 (built) | Phase 3 (not built) | |
|---|---|---|
| IQ Condos | 1185 The Queensway, 12 storeys, completed | — |
| Park Towers at IQ | 15 and 17 Zorra Street, 24 storeys, 458 suites, completed 2018 | — |
| IQ Phase 3 | — | Three towers of roughly 18, 25 and 42 storeys, 915 units proposed. Not launched, no pricing, no occupancy date. |
What these buildings have actually traded for: the last 12 months
Resales and leases recorded on the TRREB MLS® System for these buildings, 5 October 2025 to 5 October 2026.
Over the past 12 months, units here sold for a median of $475,500 after a median 35 days on market, at about 97% of the asking price. Leased units rented for a median of $2,300 a month.
Over the past 12 months, units here sold for a median of $507,500 after a median 27 days on market, at about 96% of the asking price. Leased units rented for a median of $2,200 a month.
Source: TRREB MLS® System data, compiled by Jatin Dua, Broker of Record, RE/MAX Quantum Realty, Brokerage. Aggregate figures only; individual sale prices are not published on this page. Medians exclude zero and null values; samples under three are shown as counts only. The information is deemed reliable but not guaranteed. Updated 5 October 2026.
The error you will encounter
Dozens of listing pages advertise IQ Phase 3 as “24 storeys, 458 units.” Those are not Phase 3’s numbers. 24 storeys and 458 suites are the specifications of Park Towers at IQ — Phase 2 — which was completed in 2018 and has been trading as resale for years.
Somewhere in the syndication chain Phase 2’s specs were attached to the Phase 3 record, and every aggregator pulling from that feed has repeated it since. The actual Phase 3 planning resubmission, filed August 2024, is for three towers totalling 915 units.
The address is wrong on most sites too: the planning file says 35 Zorra Street. And note that 36 Zorra Street is an entirely different building by a different developer.
What this means practically
- Buying resale at IQ or Park Towers? These are finished buildings with real status certificates and real sold comparables. Make sure your comparables come from the right one — 1185 The Queensway and 15/17 Zorra Street are different corporations with different fees.
- Being sold “IQ3”? There is no price list, no floor plans and no occupancy date. Anyone showing you one is showing you something that does not exist. It is a registration list, not a purchase decision.
The one genuinely good thing about Phase 3
Remington has already delivered two phases on this exact site. You can walk through Phase 1 and Phase 2 and see the finished product before committing to Phase 3. That is far better due diligence than any rendering, and very few Etobicoke launches offer it.
How to compare two buildings properly
Related names on one site are a common source of confusion in listings, and it matters because separate phases are frequently separate corporations with their own budgets, reserve funds, boards and rules. Before comparing fees or reserve funds, establish which corporation the specific unit belongs to — the title description and the status certificate settle it.
Buyers comparing two buildings on the same street almost always compare the wrong things — lobby finishes, amenity lists and the headline maintenance fee. None of those decide whether the purchase works out. Six things do.
- The reserve fund against the age of the corporation. Both of these buildings are young enough that the fund is still accumulating and the budget has not been tested by a full operating cycle. Ask whether the first reserve fund study update has happened and what it did to the required contribution.
- What each fee includes, and what is separately metered. Add your own estimated utility bills to whichever excludes them before comparing. Then divide by real usable square footage rather than the marketing number.
- Three years of fee history for each. A young building whose fees have already jumped twice is telling you something the current number is not.
- Whether the corporation is party to litigation. Construction deficiency claims are not unusual in newer corporations and they affect both fees and lender appetite.
- Parking and locker ownership form. An owned unit, an exclusive-use common element, or a rental — only the first two convey with the sale.
- What is proposed on the adjacent parcels. The corridor is still developing. The City of Toronto’s development application records are public, and a view or a quiet aspect that a filed application would remove is not something to pay for today.
And then the unit, not the building
Once the corporations are understood, the remaining variables are unit-level and they are the ones that move price most: exposure, floor, whether the outlook is protected, layout efficiency and whether every bedroom has a real exterior window, balcony depth, and where the unit sits relative to the elevators and the garbage chute. Two units with the same floor plan in the same building can differ substantially on these alone.
The status certificate answers the corporation questions definitively and the fee for it is capped at $100 including taxes under the Condominium Act, 1998. Order one for whichever building you choose, and have a lawyer read it — with ten to fifteen business days on the condition, because the corporation has statutory time to produce it.
Thinking about buying or selling here?
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Jatin Dua, Broker of Record — RE/MAX Quantum Realty Inc., Brokerage. Not intended to solicit buyers or sellers currently under contract with another brokerage.
Frequently asked questions
How do I compare two condo buildings on the same street?
Not on lobby finishes or amenity lists. Compare the reserve fund against the age of each corporation, what each fee includes and what is separately metered, three years of fee history, whether either corporation is party to litigation, the ownership form of parking and lockers, and what is proposed on the adjacent parcels.
Is a lower maintenance fee better?
Not on its own, and in this corridor it is frequently misleading. Buildings here are young, so a low fee usually reflects a reserve fund still accumulating and utilities that are separately metered rather than good management. Add your own utility estimate and read the reserve fund position before judging the number.
What does the status certificate tell me about a building?
The reserve fund balance and the study’s funding plan, any special assessment levied or contemplated, common expense arrears on the unit, legal proceedings the corporation is party to, the insurance and its deductible, any lien, and the declaration, by-laws and rules. The fee is capped at $100 including taxes.
How long should my status certificate condition be?
Ten to fifteen business days. The corporation has ten days from receiving the request and the fee to produce the certificate, so a five-business-day condition can leave your lawyer with almost no time to read it. Pay the fee immediately so the clock starts.
Does the specific unit matter more than the building?
Both matter and they answer different questions. The corporation decides your fee trajectory and your exposure to assessments; the unit decides what daily life is like and how it resells. Exposure, floor, protected outlook, layout efficiency and balcony depth move price more than anything inside the unit.
Are two phases of the same development identical?
Rarely. Separate phases are frequently separate corporations with their own budgets, reserve funds, boards and rules, even where they share a name, an architect and an address range. Read each corporation’s documents separately rather than assuming what is true of one is true of the other.
Sources
- City of Toronto — Planning and Development — current and proposed development along The Queensway corridor. Accessed 10 September 2026.
- Toronto Transit Commission — surface routes serving The Queensway and connections to Line 2. Accessed 10 September 2026.
- TRREB Market Watch, August 2026 — the Etobicoke average sale price of $1,049,793 across 243 sales. Accessed 10 September 2026.
- Condominium Act, 1998 — status certificates and the prescribed fee cap, reserve funds and reserve fund studies. Accessed 10 September 2026.
Related reading
- IQ Condos, 1185 The Queensway — the building guide
- Park Towers at IQ, Zorra Street — the building guide
- IQ Condos Phase 3 — what the planning record actually says
- Every condo building on The Queensway
Building specifications from the City of Toronto planning record, condominium registrations and developers’ published material — believed accurate but not guaranteed. Verify everything against the status certificate and disclosure statement before you sign. Not intended to solicit buyers or sellers under contract with another brokerage. E.&O.E.
Thinking about buying on The Queensway?
Tell me which building or stretch of the corridor you are looking at and I will send the actual sold and lease comparables from TRREB, an honest read on the location, and what the status certificate is likely to show. No obligation, and I will tell you if the answer is don’t buy it.
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Or call Jatin Dua, Broker of Record, RE/MAX Quantum Realty · 833-330-1925
About the author — Jatin Dua, Etobicoke real estate agent
I am Jatin Dua, Broker of Record at RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway in Etobicoke, with more than four years of active GTA transactions and over $100M in sales volume. My office is on this street, so the local detail here comes from walking it rather than from a directory.
Reach me at [email protected] or 833-330-1925.