Pearl Condos, 35 Hollywood Ave: Parking in the Fee, Pool Off Yonge

Pearl at 35 Hollywood Avenue is the youngest of the Conservatory towers on this block, and the one I point people to when they want a 2010s building without paying new-construction prices. It has an indoor pool, generous two-bedroom-plus-den plans, and a fee that already includes your parking spot and your heat. The question is whether a building now in its teens is priced for its age. I’m Jatin Dua, RE/MAX Quantum Realty.

One tower where the plan once called for two

Pearl is the product of a long planning process on Hollywood Avenue. According to discussion on SkyriseCities, the 2004 master plan for this land originally showed two 24-storey Pearl towers.

That history explains the shape of the building today. You get one larger tower of about 350 suites rather than two smaller ones, so the amenity costs are spread over more owners, and there is a little more breathing room on the street than the original plan would have allowed.

Construction started in fall 2008, with E.I. Richmond Architects as the designer and four levels of underground parking below. The tower was finished in 2011, which makes it one of the newer resale options on this stretch of Hollywood rather than one of the 1990s or early-2000s towers that dominate Willowdale East.

Gem-named floor plans, and a lot of two-plus-dens

The suites were marketed with gemstone names. REW lists five one-bedroom plans (Quartz, Opal, Crystal, Garnet and Amber), seven two-bedroom plans (Onyx, Ruby, Cameo, Gold, Ivory, Pearl and Coral) and one three-bedroom, the Diamond. Sizes run from about 538 to 1,549 square feet, according to condos.ca.

In practice, the resale market here is heavy on two-bedroom-plus-den suites. All three suites listed when I checked were two-plus-dens, and two of them sat in the 800 to 899 square foot band. That is a usable size for a couple with a home office or a small family, and larger than many new two-bedrooms on Yonge.

If you are comparing plans, ask for the original floor plan by name. A den that is a closed room with a door is worth more than a den that is a nook off the hallway, and gem names make it easy to compare like with like across listings.

Parking and heat are already in the fee

The fee at Pearl covers air conditioning, heat, water, building insurance, common elements and parking. Hydro is on your own bill. Across the current listings, fees worked out to about $0.81 per square foot, with monthly fees roughly between $670 and $806.

That is not cheap on the surface, but it is worth comparing carefully. Many newer buildings near Yonge and Sheppard charge parking separately and put heating and cooling on the suite’s own meter. Once you add those back, the gap between Pearl and a building with a lower headline fee is often smaller than it looks.

Because parking is listed in the fee, check how many spaces and lockers belong to the suite you are buying, and whether they are owned or exclusive-use. That detail is in the status certificate and the schedule attached to the agreement, and it matters when you resell.

Living on Hollywood Avenue

Hollywood Avenue runs east off Yonge a short walk north of Sheppard, and it is lined with towers, including Conservatory’s own Platinum at 23 Hollywood and the Hollywood Plaza buildings across the street at 18 and 28. Pearl’s higher street number puts it further east than those, which means a little more distance between your windows and Yonge Street traffic.

The trade-off is that this block keeps filling in. A forum post on SkyriseCities notes that the separate Yonge Street tower on the original master plan, Cameo, was approved at 34 storeys, and Conservatory has since marketed another project under the Pearl Place name. Expect construction on and around the block for some years yet, and ask which suites face current or future sites.

Day to day, you have the restaurants, cafes and grocery stores on Yonge within walking distance, and the shops around Yonge and Sheppard close by. The transit, school and walkability details are in the data panel on this page.

What Pearl costs, and how it compares

Condos.ca puts the building average at about $820 per square foot. That is higher than the older all-inclusive towers on the same block, such as Platinum at 23 Hollywood, which reflects Pearl’s younger age, and lower than new launches near Yonge and Sheppard.

When I checked there were three suites for sale, all two-bedroom-plus-den plans, asking from $728,000 to $880,000. Two were in the 800 to 899 square foot range. With 351 suites in the building, three listings at once is a thin sample, so I would look back at the last year of closed sales before deciding what a fair price is.

For the most recent closed numbers, use the sold data on this page, or ask me for a building sold report. Compare monthly carrying costs, not purchase price alone: parking and heat are inside Pearl’s fee, and they usually are not inside a new building’s.

Building specifications

Amenities at Pearl Condos

An indoor pool, hot tub and sauna, plus a gym, guest suites and a concierge, is a full package for a building of this size, and it is the main reason buyers choose Pearl over the older towers next door. Pools are costly to run and to replace, so check how the reserve fund plans for that equipment.

Jatin’s honest take on Pearl Condos

Pearl Condos — frequently asked questions

Looking at Yonge & Eglinton, Davisville and North Toronto more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.