Malibu Condos, 600 Fleet St: A Pool and Compact Suites at Bathurst

Malibu is the building at Bathurst and Fleet with the pool. In a cluster of towers where most amenity packages stop at a gym and a party room, that one feature is why a lot of buyers end up here. The suites are small and the fees are not the lowest on the block, so it is worth understanding exactly what you are paying for. I’m Jatin Dua, RE/MAX Quantum Realty.

Curved glass on Fleet Street, and a monument out front

Malibu is a 32-storey tower of curved glass and steel rising from an 11-storey podium, designed by Page + Steele (UrbanToronto’s project thread credits Page + Steele / IBI) for Malibu Investments. The name and the soft curves take their cue from California, which is an unusual choice beside a 19th-century fort. It sits on Fleet Street just west of Bathurst, with West Harbour City immediately to the west, Panorama to the east and Tip Top Lofts to the south.

The site also carries one of the city’s better-known pieces of public art. In November 2008, Douglas Coupland’s monument to the War of 1812 was unveiled here: a gold soldier of the Royal Newfoundland Regiment standing over a fallen silver American infantryman. It is a fitting piece for a building a short walk from Fort York.

Sources differ on the completion year. One source lists 2008, while listing data uses 2009 and the corporation was registered in January 2009. The difference is the usual gap between occupancy and registration.

The amenity package is the reason to buy

Malibu has an indoor pool with a hot tub under natural light, a gym, a rooftop terrace with barbecues and lounging areas looking over the lake and skyline, a party room, a billiards room, a guest suite, bike storage, visitor parking and 24-hour concierge and security.

That is a fuller package than Panorama, which offers a gym, party room and rooftop deck, or West Harbour City I, whose list is practical rather than recreational. If you want to swim year-round without a gym membership, this is the building in this cluster that lets you do it.

Pools cost money to run and eventually to rebuild. That is part of why the fee per square foot here is higher than at the neighbours, and it is the first thing I would look at in the reserve fund study.

The rooftop terrace deserves its own mention. With barbecues and seating looking out over the lake and the skyline, it works as a shared backyard, which matters in a building where many suites have only a narrow balcony.

Small suites, and who they suit

Suites run from about 330 sq ft at the very small end up to just under 1,000 sq ft. That range tells you the building was sold mostly to first-time buyers and investors: studios, compact one-bedrooms, one-plus-dens and a smaller number of two-bedrooms.

Some of the two-bedrooms use split plans with an ensuite for each bedroom, a layout that works well for roommates or for an investor renting to two professionals. Marketing for suites here typically highlights floor-to-ceiling windows, balconies and in-suite laundry.

At the small end, be realistic. A suite in the 300s or low 400s is a studio in all but name, and it will rent well but appeal to a narrower pool of buyers when you sell. The one-bedrooms and one-plus-dens in the 500s and 600s are the most liquid stock in the building.

If you need more than about 1,000 sq ft, this is the wrong building. Look next door at West Harbour City I, which runs past 2,000 sq ft.

Life at Bathurst and Fleet

This is a corner with real advantages. Fort York and the Bentway are just to the north and west, the lake and the waterfront trail are a short walk south, and the Lake Shore and the Gardiner are a few turns away for drivers. Liberty Village and King West are within reach for restaurants and shops.

Next door, Tip Top Lofts, the converted Tip Top Tailors factory on the Lake Shore, gives the block some heritage character, and the Fort York grounds give this corner a large piece of open, protected land that most downtown towers do not have nearby.

It is also a busy intersection beside a major expressway, and the lower floors facing the traffic will hear it. Pick your exposure carefully. Transit, schools and Walk Score details are in the data panel on this page.

What Malibu costs

The building average is around $802 per square foot, in line with Panorama at about $792 and below West Harbour City I at about $868. Given that Malibu has the pool and the others do not, that is decent value on a per-foot basis. Very small suites usually carry a higher per-foot figure, so compare suites of similar size, not averages.

The two current sale listings are both one-bedrooms in the 500 to 599 sq ft range asking between $450,000 and $535,000. With only two listings and three rentals active, there is not much to choose from right now, so use the 12-month sales data in the panel.

Fees on the current listings average about $1.10 per square foot, the highest of the towers at this corner. The fee covers heat, air conditioning, water and insurance, but parking is not listed as included. Some of that premium is the pool and the 24-hour concierge. Ask for the budget and see how much goes to the pool and the amenities, so you know what you are paying for.

Building specifications

Amenities at Malibu Condos at Harbourfront

The pool, hot tub and rooftop terrace make Malibu the most complete amenity package at Bathurst and Fleet. For a compact-suite owner, that rooftop and pool effectively add living space the suite itself does not have.

Jatin’s honest take on Malibu Condos at Harbourfront

Malibu Condos at Harbourfront — frequently asked questions

Looking at King West, Liberty Village and CityPlace more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.