Park Plaza, 1030 Sheppard Ave W: Rooftop Deck Mid-Rise by Tor-Bel

Park Plaza is a straightforward building in a location that is about to matter much more. This nine-storey, 132-suite Tor-Bel Group condominium from 2004 has mid-sized suites, a rooftop deck and a sauna, and it sits on Sheppard West near the Downsview lands, one of the largest redevelopment areas in the city. I’m Jatin Dua, RE/MAX Quantum Realty.

A Tor-Bel mid-rise on Sheppard West

Tor-Bel Group, also written Torbel, is the Toronto builder behind Park Plaza, and the building is a practical mid-rise: nine storeys, about 26 metres tall, and 132 suites.

It is a building made for living in rather than for a brochure. There is no long amenity list and no landmark architecture, and the people who buy here tend to be owner-occupiers who want a reasonable suite near transit and highways.

With 132 suites, the corporation is mid-sized. That is large enough to spread the cost of repairs across a reasonable number of owners and small enough that the board’s decisions are easy to follow in the minutes.

The name is the one thing that can trip up a search. Park Plaza is a common building name across the GTA, so when you look up sales, fees or reviews, make sure you are looking at 1030 Sheppard Avenue West and corporation TSCC-1617.

Suites without the extremes

Condos.ca lists suites from about 625 to 1,000 square feet. There are no micro studios and no very large plans, so almost every suite is a real one-bedroom-plus or two-bedroom home.

That narrow range is good for pricing. When suites are similar in size, recent sales in the building are genuinely comparable, and a buyer can see quickly whether an asking price is fair. Adjust for floor, view and finishes, which will vary a lot in a 2004 building.

Many suites will still have original kitchens and bathrooms. Budget for updating if the suite has not been renovated, and ask the seller what has been replaced, including windows, appliances and the heating and cooling unit inside the suite.

Mid-sized suites also rent and resell easily. A suite between 625 and 1,000 square feet appeals to couples, small families and downsizers alike, which gives you a broad pool of buyers when you sell. That is a real advantage over buildings dominated by very small or very large plans.

Check what heat costs you

Condos.ca lists common elements, air conditioning, building insurance, parking and water in the fee. Heat is not on that list, and neither is hydro. That may mean heat is metered to the suite, or it may simply be missing from the listing.

It matters for comparisons. Several nearby buildings of the same age include heat, so a fee that looks similar can hide a winter heating bill. Confirm with management or the status certificate exactly what the fee covers and how heat is billed before you compare.

If heat is metered to each suite, ask the seller for a year of heating bills. A two-bedroom in a building of this age can cost noticeably more to heat in winter than its fee alone suggests, and that cost should be in your budget from the start.

Condos.ca also tags the building with a pet restriction. I have not seen the rule, so read the declaration and rules if you have a pet.

Sheppard West and the Downsview lands

Bathurst Manor is a settled residential neighbourhood of post-war houses, and Park Plaza sits on its western edge along Sheppard Avenue West, a busy east-west road. Allen Road and Highway 401 are close for drivers, and the panel beside this review shows the nearest subway station.

The bigger story is to the west. The Downsview Airport and Bombardier campus lands, now owned by the Public Sector Pension Investment Board through Northcrest Developments and by Canada Lands Company, are being planned for a long-term transformation, and the City has been updating the area’s secondary plan to guide it.

That will take decades, not years, but it is the kind of change that tends to lift nearby resale buildings over time. In the meantime, expect more construction and more new supply in the wider area.

For daily life today, the area works best for people who drive or ride the subway. Sheppard West has plazas and services within reach, while the larger shopping and dining options are a short drive away.

Where the price per foot sits

Condos.ca puts the building average at about $662 per square foot. That is in the middle of the north Toronto buildings I track in this group: above Viva South Tower on Bathurst at about $610, and below Carrington Place on Leslie at about $680.

Read that figure alongside the fee. If heat is billed separately here, a building with a slightly higher per-foot price and heat included may cost you less every month. Compare total monthly cost, not price alone.

Age is the other adjustment. A 2004 building with original finishes should trade below a newer building nearby, and the gap should reflect what you will spend on updating the suite and what the reserve fund study says is coming.

There was only one suite listed for sale and one for lease when I checked, so I will not quote an asking range. Turnover is thin, which means a well-priced suite can sell quickly. Ask me for the sold report and I will show you what has traded here recently.

Building specifications

Amenities at Park Plaza

The rooftop deck is the feature I would point a buyer to, because shared outdoor space with a view is uncommon in a building this size. The rest is a practical package of gym, sauna, party room and meeting room, and neither condos.ca’s summary nor TalkCondo lists a concierge, though TalkCondo does list a security guard. Ask how the deck is booked and maintained, and whether its membrane appears in the reserve fund plan.

Jatin’s honest take on Park Plaza

Park Plaza — frequently asked questions

Looking at York Mills, Don Mills, Lawrence Park, Bathurst Manor and midtown-north Toronto more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.