Burano on Bay, 832 Bay St: 50 Storeys on a Heritage Podium

Burano is the Bay Street tower I suggest to buyers who want a proper two-bedroom-plus-den in the Bay and College area without the fee shock that comes with some newer glass towers. Lanterra built it in 2012 on top of a restored heritage base, across the street from its own Murano towers. It is a well-run, conventional high-rise with one unusual detail: a floor of loft suites inside the old podium. I’m Jatin Dua, RE/MAX Quantum Realty.

A glass tower that kept the old street wall

From Bay Street you see two buildings at once. The bottom is a heritage podium with finials along the parapet, kept as the street wall. Above it rises a sleek 50-storey glass tower by Peter Clewes of architectsAlliance, the same architect behind Lanterra’s Murano across the street.

The north end of the tower was designed as a glassed-in feature with a cantilevered roof, and UrbanToronto’s construction coverage mentioned a strongly coloured public art installation planned for the site. Landscaping is credited to Janet Rosenberg & Studio.

Lanterra has built a lot of this stretch of Bay. If you are comparing, Murano at 37 Grosvenor and 38 Grenville is the closest sibling: same developer, same architect, a few years older. Walking through both in the same afternoon is the fastest way to see what you are paying for.

The loft floor inside the heritage podium

The part of Burano most buyers miss is the second floor. UrbanToronto toured loft suites there with ceilings of about 10 feet and recreated heritage windows facing Bay Street. The original windows did not meet code, so ERA Architects specified double-pane replacements with working centre openings, made to match the old ones.

Those suites are the closest thing to a hard loft you will find in a 2012 tower: higher ceilings, period windows and a street-level feel, with a concierge and a gym downstairs. They are not for everyone. You are one floor above Bay Street traffic, and there is no view. But if you want character without buying a 100-year-old conversion, ask specifically for podium units.

Above the podium the suites are conventional tower plans, from about 444 to 1,263 sq ft. UrbanToronto noted the especially robust balconies on the projecting northwest and southeast corners, and the curve in Bay just north of College gives south-facing suites a direct view down the street to the financial core.

The terrace level and what it is like day to day

The shared amenities sit on top of the podium. There is a lounge and dining area, change rooms, a fitness centre, a home theatre and an internet lounge with canted windows over Bay Street. Outside, a south-facing terrace has large planters for trees and an outdoor pool.

The location is quietly practical. You are a short walk from College Street, the hospital district on University Avenue, Queen’s Park and the University of Toronto, and the Yonge Street strip is a block east. This is a building for people who work nearby and want to walk, not for people who want the waterfront.

Who lives here, and how it compares nearby

The Bay and College area has a deep supply of towers, from older 1980s and 1990s buildings on Bay to the newer Lanterra and Bay Street projects around Grosvenor and Grenville. Burano sits in the middle of that range: newer than most, older than the latest launches, and built by a developer with a long history on the street.

That makes it a common pick for medical residents, hospital staff and graduate students who rent, and for owners who bought early and stayed. When I compare it with older towers nearby, Burano usually wins on finishes and amenities and loses on price per foot. When I compare it with newer launches, it usually wins on fee and on being able to see the building and its records before you buy.

The northwest and southeast corner suites are the ones I would look at first. They have the projecting balconies and the widest outlooks, and on a 50-storey tower the upper corners give you real views over Queen’s Park or down the Bay Street canyon.

The trade-off for the lower floors is noise. Bay Street carries heavy traffic and buses, so if you are looking at a podium loft or a low suite, visit at rush hour with the window open before you decide.

Pricing and the fee advantage

Condos.ca puts the building average at about $914 per square foot. That is a premium for a 2012 building, and it reflects both the Bay and College location and the Lanterra name on the door.

The fee is where Burano looks good. Across current listings it works out to about $0.78 per square foot, with listed fees from about $705 to $960 a month on the larger plans. Heat, air conditioning and water are included. Parking is not listed as included, so check whether a spot comes with the suite and what it adds.

Only a few suites are on the market right now, all two-bedroom-plus-den plans, asking from about $749,000 to $960,000. That is a thin sample. The data panel beside this review shows what has actually sold and leased, and I would lean on those figures before making an offer.

When you compare Burano with other Bay Street towers, put the fee and the inclusions side by side, not just the asking price. A building that looks $30,000 cheaper but charges separately for heat and cooling, and carries a higher fee per foot, can cost you more within a few years. If you want a precise read on a specific suite, my building sold report pulls the recent sales for you, and the leases are worth reading too if you are buying to rent.

Building specifications

Amenities at Burano on Bay

Everything shared is on one podium level, so it is easy to use: gym, theatre and lounge on the same floor as the pool terrace. The outdoor pool is a summer feature, not a year-round one, so do not pay a premium for it if you mainly want to swim in winter.

Jatin’s honest take on Burano on Bay

Burano on Bay — frequently asked questions

Looking at St. Lawrence, the Financial District and Downtown Yonge more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.