What a 2,000 Square Foot Humber Bay Condo Actually Costs to Carry

Buyers shopping at this size usually compare purchase prices carefully and fees casually. That is the wrong way round. At 2,000 square feet the fee is a second mortgage payment, it never ends, and it varies more between buildings than most people expect.

Every fee, size band and corporation number below was taken from the listing record or building record that publishes it, on 26 August 2026, with the source listed at the bottom. Sizes on listing records are published in bands and I have reproduced the bands rather than picking a number inside them. Before any offer, confirm the actual area of the actual suite from the registered declaration and the status certificate — portal data is where you start, not where you finish.

One important caveat before the numbers. There is no such thing as a published building-wide rate per square foot. Every figure below is arithmetic on one specific listing’s own stated fee against its own stated size band, and I have named the unit each time. They come from different years. Fees rise. Use these to understand the shape of the market, then get the actual current fee for the actual suite.

The verified rates, cheapest to dearest

• Lakeside Place, 2067 Lake Shore Blvd W — TH1, fee $1,384.31 on a 2,000–2,249 band. Roughly $0.62 to $0.69 per sq ft. (2021 figure.)
• Grenadier Landing, 5 Marine Parade Dr — TH124, fee $1,526.90 on a 2,000–2,249 band. Roughly $0.68 to $0.76.
• Waterscapes, 80 Marine Parade Dr — PH01, fee $2,592.81 on a 3,500–3,749 band. Roughly $0.69 to $0.74 — the best rate found on a genuine penthouse. (2019 figure; it will have risen.)
• Newport Beach, 2111 Lake Shore Blvd W — PH03, fee $2,240.00 on a 2,250–2,499 band. Roughly $0.90 to $1.00.
• Voyager I, 2121 Lake Shore Blvd W — LPH2603, fee $2,261.04 on a stated 2,215 sq ft. $1.02.
• Palace Pier, 2045 Lake Shore Blvd W — four units: 2904 at $3,105 (2,750–2,999 band), 3606 at $3,803 and 4503 at $4,036 (both 3,250–3,499), 2901 at $3,809 (3,000–3,249). Roughly $1.04 to $1.27.
• The Waterford Towers, 2095 Lake Shore Blvd W — PH15, fee $5,122.00 on a 4,000–4,249 band. Roughly $1.21 to $1.28 — the dearest verified.

Do not read that list as a ranking

This is the part that separates a real comparison from a spreadsheet.

Palace Pier includes hydro in the fee. So does Grand Harbour, and so does Newport Beach. The Waterford Towers does not list hydro as included. Comparing $1.24 at Palace Pier against $1.24 at a building where you also pay your own electricity bill is not comparing the same thing — and on a 2,000+ square foot home with lake exposure on two sides, the electricity bill is not small.

Palace Pier’s rate also buys an indoor pool, a tennis court, squash and racquetball, valet parking, a twenty-four-hour concierge, guest suites, an on-site restaurant and a private shuttle bus to downtown. In a building where the nearest subway is a forty-minute walk, that shuttle is not a frill; for some owners it replaces a car. Whether that package is worth the premium is a judgement, but it is a real package and it is inside the fee.

The honest way to compare two buildings is to normalise: take each fee, add back the utilities the other building includes, and only then divide by the square footage.

The outlier that explains itself

Hearthstone by the Bay, 3 Marine Parade Drive, shows unit 1802 at a fee of $3,312.74 on a 1,000–1,199 square foot suite — roughly $2.76 to $3.31 per square foot, three to four times anything else on this waterfront.

That is not a badly-run building. It is a retirement condominium, with services bundled into the monthly charge. It is a completely different product, and it explains why any list of Humber Bay fees sorted by dollars per foot puts it at the bottom looking like a disaster. Context is the whole answer.

Add the property tax

Toronto’s 2026 residential rate is 0.767311% of assessed value. Toronto also charges a Vacant Home Tax at 3% of current value assessment, and every owner must file an annual occupancy declaration — if you do not file, the City deems the property vacant and bills you.

Note that property tax is charged on MPAC’s assessed value, not your purchase price, and Ontario is still calculating 2026 taxes from a 1 January 2016 valuation date. On a recently-traded large suite the assessment is usually well below the price paid. Look at the actual tax bill rather than multiplying the rate by what you are about to pay.

What this means at the size you are shopping

Take a 2,000 square foot suite and the fee alone ranges from about $1,240 to $2,560 a month depending purely on which building it sits in. Over a ten-year hold, at today’s rates and before any increases, that difference is roughly $158,000.

Two consequences follow, and they point in opposite directions:

• The fee should influence which building you buy in, not just which suite. A cheaper purchase price in a dearer building can be the more expensive decision inside a decade.
• A low fee in an older building is not automatically the win. Fees that have been held down are sometimes fees that have not been funding the reserve. At this size the reserve fund matters more than the rate, because your share of any special assessment is proportional to your unit factor — and your unit factor is large.

Which is the real answer to the question people ask about fees. The number you want is not the lowest fee. It is the fee that is actually paying for the building. That is a status certificate question, not a listing-portal question, and it is covered on its own page below.

Frequently asked questions

Sources

• condos.ca — Waterford Towers, 2083-2095 Lake Shore Blvd W. The PH15 record: a $5,122.00 monthly fee on a 4,000-4,249 square foot band, and the fee inclusion list. Accessed 24 August 2026.
• condos.ca — Waterscapes, 80 Marine Parade Dr. The PH01 record: a $2,592.81 monthly fee on a 3,500-3,749 square foot band. Accessed 24 August 2026.
• condos.ca — Newport Beach, 2111 Lake Shore Blvd W. The PH03 record: a $2,240.00 monthly fee on a 2,250-2,499 square foot band, and confirmation that hydro is included. Accessed 24 August 2026.
• condos.ca — Grenadier Landing, 5 Marine Parade Dr. The TH124 record: a $1,526.90 monthly fee on a 2,000-2,249 square foot band. Accessed 24 August 2026.
• condos.ca — Lakeside Place, 2067 Lake Shore Blvd W. The TH1 record: a $1,384.31 monthly fee on a 2,000-2,249 square foot band, from a January 2021 sale. Accessed 24 August 2026.
• condos.ca — Palace Pier, 2045 Lake Shore Blvd W. The unit 2901, 2904, 3606 and 4503 fee and size band records used for the Palace Pier range. Accessed 24 August 2026.
• Palace Place — Palace Pier building profile. The fee inclusion list confirming hydro is included, and the amenity package including the downtown shuttle. Accessed 24 August 2026.
• condos.ca — Hearthstone by the Bay, 3 Marine Parade Dr. The unit 1802 record: a $3,312.74 monthly fee on a 1,000-1,199 square foot suite. Accessed 24 August 2026.
• City of Toronto — Property tax rates and fees. The 2026 Toronto residential rate of 0.767311%. Page last updated 11 May 2026. Accessed 24 August 2026.
• MPAC — The assessment cycle. Confirmation that 2026 property taxes are calculated from a 1 January 2016 valuation date. Accessed 24 August 2026.

Related reading

• Humber Bay Shores condos over 2,000 square feet
• What a status certificate actually tells you before you buy
• How far is your Humber Bay condo actually from the water?
• Combining two condo units in Ontario