Parade 2, 21 Iceboat Terr: CityPlace’s KPF Tower With the Skybridge

Parade 2 is the building I use when a buyer wants CityPlace but also wants choice. With hundreds of suites in one corporation, there is almost always something for sale, from compact one-plus-dens to larger two-bedrooms. That depth is its strength. The scale is also what you have to be comfortable with before you buy. I’m Jatin Dua, RE/MAX Quantum Realty.

Four towers, two podiums and a bridge

Parade was the largest single phase of Concord’s CityPlace, built on the former railway lands south of Front Street. The complex is four towers rising from two U-shaped, nine-storey podiums that wrap a central garden courtyard. The east half is Parade 1; the west half, with the tallest tower, is Parade 2.

The New York firm Kohn Pedersen Fox designed it, which was unusual for a Toronto condo of the time. UrbanToronto’s construction coverage describes the west tower at 43 storeys with a rounded, almost cylindrical form that was rare in the city, alongside a 38-storey east tower and two shorter corner towers.

The signature feature is the glass-and-steel skybridge linking the two tall towers. It holds two large residences and amenity space. Reports from the build describe it differently, one placing it around the 28th and 29th levels, so if a skybridge suite or the bridge amenity is part of your decision, confirm the details with management.

Concord is the developer behind most of CityPlace, and Parade was designed to be the neighbourhood’s landmark. Whatever you think of the area’s towers, this one is easy to pick out on the skyline, which helps a little with resale and a lot with telling your friends where you live.

Living in a 920-suite corporation

Condos.ca counts 920 suites in this corporation. That is a small town. The upside is that costs are spread across a lot of owners, the amenity package can be generous, and comparables are plentiful: there were twelve suites for sale and six for lease when I checked.

The downside is that you share elevators, the garage and the amenity floor with a lot of people, and the building’s culture depends heavily on how well it is managed. Ask about elevator wait times at rush hour, how amenity bookings work and how move-ins are scheduled. Read the board minutes for recurring complaints.

A building this size also has a large rental population, which is normal for CityPlace. That does not make it a bad place to own, but it does mean you should check the declaration’s rules on leasing and short-term rentals.

Large corporations also have a governance advantage: with 920 owners, a board can usually find people with real expertise in finance, engineering or law. Look at who sits on the board and how often they report to owners.

Layouts with a curve

Suites run from about 570 to 1,738 sq ft according to condos.ca. Most of what trades are one-bedrooms, one-plus-dens and two-bedrooms in the 500 to 900 sq ft range, which is CityPlace’s core market.

The rounded tower means some suites have curved window walls. That gives wide views, and from upper floors on the south and west those views take in the lake and the waterfront parks. It can also make furniture placement harder, because the outer wall is not straight. Look at the plan and imagine where a sofa and bed actually go.

Dens in this era of CityPlace building are often open alcoves. If you need a real office or a second sleeping space, check whether the den has a door and enough room to function.

Higher floors cost more, and in a building this tall the premium per floor adds up. Decide early whether you are buying the view or the space, because in the same budget you can often choose a larger suite lower down or a smaller one near the top.

CityPlace, a decade on

When Parade went up, CityPlace was criticised as a forest of glass towers with little to do at ground level. That has improved. Canoe Landing Park is a short walk away, and the area has filled in with community facilities and more street-level retail. The Rogers Centre, the waterfront and the Spadina corridor are walkable.

It remains a dense, tower-heavy neighbourhood. If you want tree-lined streets and low buildings, this is not it. If you want to walk to the office, the stadium and the lake, it does that well.

Getting around is straightforward for a downtown address: many owners here walk or cycle to work, and the transit options are listed in the data panel on this page. For drivers, the Gardiner and Lake Shore are close, which helps on weekends.

What Parade 2 costs, and why there is always a listing

Condos.ca puts the building average at about $822 per square foot, which is in line with or slightly below newer CityPlace towers. That reflects a 2013 building with a large supply of similar suites competing for the same buyers.

When I checked, eight of the active listings ran from about $499,000 to about $700,000, mostly in the 500 to 899 sq ft range. Monthly fees across those listings ranged from roughly $480 to $805, about $0.91 per square foot. The building sold report shows what has actually sold.

So much supply cuts both ways. Buyers have negotiating room and plenty of comparables. Sellers need to price precisely, because a buyer can usually see a similar suite down the hall.

For a seller, the most useful comparison is not the building average but the last few sales of the same plan on nearby floors. In a building this size, there is usually enough data to do that, and it is a far better guide than the average.

Building specifications

Amenities at Parade 2 Condos

An indoor pool, a gym and a pet wash station are the practical highlights, and the courtyard and skybridge give the complex more shared space than a typical tower. The pet wash area is worth noting in a neighbourhood with this many dogs.

Jatin’s honest take on Parade 2 Condos

Parade 2 Condos — 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.