Pier 27, 39 Queens Quay E: Mid-Rise on the Water, Parking in the Fee

Pier 27 is the building I show people who want to live on the water but do not want a 50-storey tower. It is low and wide, the buildings are linked by bridges you can see from across the harbour, and you walk out onto a public boardwalk. You pay one of the higher prices per foot in this part of downtown for it, and that is a fair trade only if the water matters to you. I’m Jatin Dua, RE/MAX Quantum Realty.

Low buildings, sky bridges and a public boardwalk

Most of the waterfront west of Yonge was built up decades ago with tall slabs. Pier 27 took the opposite approach. UrbanToronto described the first phase as two pairs of mid-rise buildings, each pair joined across the top by a bridge, and TheTorontoBlog reported those bridges as three storeys tall. The design is by Peter Clewes of architectsAlliance for Cityzen and Fernbrook Homes.

The height is a source of mild confusion. Condos.ca lists 12 floors, while UrbanToronto called them 14-storey buildings during construction. Either way, these are mid-rises, and the bridge penthouses are the suites with the big views over the islands.

The site came with a public bargain. The developers did a land swap with the City that kept public access along the west and south edges, with a landscaped boardwalk and about three acres of waterfront open space. You are not on a private pier; the public walks past your building, and that is part of the deal.

Suite sizes run much larger than usual

The suite range here is wide: about 500 to 2,804 sq ft. The current market is mostly one-plus-dens and two-bedrooms in the 700s, but there are real large-format suites at the top and in the bridges, which you rarely find on the downtown waterfront.

Which way you face decides what you are buying. Lake-facing suites look over the harbour and the islands. The east side faces the Redpath Sugar refinery, which is a working industrial neighbour with ships and trucks coming and going. North-facing suites look back at the city and Queens Quay. Ask for the exposure first, then the price.

Condos.ca lists security staff and a security system, guest suites, a party room and a parking garage. It also lists a pet restriction. I could not find the details, so read the rules in the status certificate before you assume your dog is welcome.

Living at the foot of Yonge

Queens Quay East was mostly parking lots and old industry until the last fifteen years, and Pier 27 was one of the first big residential projects to change that. Since then, East Bayfront has filled in with offices, George Brown College’s waterfront campus and new towers, and the waterfront trail runs right past the door.

The trade-off is that this is still a work in progress. Later phases of Pier 27 itself were built next door at 29 and 15–25 Queens Quay East, and construction in the area will continue for years. If you want a finished, settled street, the older buildings west of Yonge are the alternative.

Three phases, one name

One thing that trips up buyers is that Pier 27 is not one building. The first phase at 39 Queens Quay East is the one reviewed here. A second phase at 29 Queens Quay East and a third at 15 and 25 Queens Quay East followed, each with its own corporation, fees and rules. Listings often just say Pier 27, so confirm the address before you compare numbers.

The phases look related from the boardwalk, but they are separate condominiums. That matters for the status certificate, the reserve fund and even which amenities you can use. Ask the listing agent which corporation the suite belongs to and which shared facilities, if any, are open to it.

For a buyer, the first phase has one clear advantage: it has a decade of history. You can read ten years of board minutes and reserve fund updates and see how the building has been run, which you cannot do with a brand-new phase.

The bridge suites are the ones people remember. If you are looking at one, ask about how the bridge is heated and cooled, how the glazing has performed, and whether the reserve fund study treats the bridge structure separately. Those are not standard questions in most buildings, but they matter here.

Pricing: you pay for the water

Condos.ca puts the building average at about $1,032 per square foot, which is among the highest figures in this part of downtown. That premium is the waterfront and the low-rise form; there are cheaper per-foot options a few blocks north.

The fee is reasonable for what it covers. Across current listings it works out to about $0.98 per square foot, and the inclusions are unusually complete: heat, air conditioning, water and parking are all listed. When you compare Pier 27 against a newer tower that charges for parking and meters heat and cooling separately, the gap is smaller than it looks.

Current asking prices on the four listed suites run from about $730,000 to $2.2 million. The one-plus-den and two-bedroom plans in the 700 sq ft range are clustered between about $730,000 and $775,000, with fees in the $680 to $740 range. The data panel beside this review shows what has actually sold and leased.

Supply here is usually thin compared with the big towers north of the Gardiner, and suites in the bridges or on the lake side do not come up often. When one does, expect the price per foot to sit well above the building average. If you are watching for a specific type of suite, set up a search early so you are not deciding in a rush, and compare it against the other two Pier 27 phases at the same time.

Building specifications

Amenities at Pier 27

The amenity list is short because the waterfront is the amenity. You get a staffed, secure lobby and guest suites, and your outdoor space is the boardwalk, the harbour and the trail.

Jatin’s honest take on Pier 27

Pier 27 — 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.