Plaza Royale, 872 Sheppard Ave W: Mid-Rise Value in Bathurst Manor

Plaza Royale is where I look when a buyer needs real square footage on a tight budget in North York. It is an eight-storey, 120-suite building from 2009 on Sheppard Avenue West, with parking in the fee and prices per square foot well below most of midtown-north Toronto. The catch is the street it sits on, which is about to change. I’m Jatin Dua, RE/MAX Quantum Realty.

A mid-rise on an avenue, not a tower

Plaza Royale is eight storeys and 120 suites, which puts it in a size band I like. It is big enough to spread the cost of staff and repairs across a decent number of owners, and small enough that elevators, lobbies and hallways never feel like a hotel.

It sits on Sheppard Avenue West in Bathurst Manor, a long-established residential neighbourhood of houses and low-rise apartments. The building faces a busy arterial road, so suites on the Sheppard side trade some quiet for convenience, while suites facing away from the street are usually calmer. Visit at rush hour before you commit. The panel beside this review shows the nearest transit, parks and food options.

Tor-Bel Group built the building. I could not find much independent reporting on the developer, so the building’s own record matters more than the builder’s name. At 16 years old, the condo corporation’s budgets, reserve fund studies and board minutes tell you far more than a brochure ever would.

Space for the money

Suites range from about 593 to 1,266 square feet. Several of the active listings when I checked were in the 800 to 899 square foot band, which is a generous size for this price range. Many newer buildings in North York are built around much smaller one-bedroom plans.

Active listings suggest the suite mix leans toward one-bedroom-plus-den and two-bedroom plans, which suits couples, small families and downsizers who want a proper dining area and real storage. If you are coming from a house in the area, this is one of the few buildings nearby where you can keep a reasonable amount of furniture.

Finishes will vary widely. A 2009 building has had time for some owners to renovate fully and others to change nothing, so compare suites on condition, not just size, and budget for updates if the suite you like is still original.

Sheppard West is changing

The stretch of Sheppard Avenue West around Bathurst is drawing developer interest. A 12-storey, 328-suite condominium is proposed at 824 Sheppard Avenue West, on the northeast corner of Sheppard and Wilmington Avenue, and a 35-storey condominium has been proposed on Sheppard West near Bathurst Street.

For an owner here, that brings a mix of effects. New buildings tend to bring retail and street improvements over time, and they confirm the area as a place people want to live. They also bring years of construction, more traffic, and new supply competing with resale suites like these.

None of these projects is built yet, and plans can change. If you are buying here, look up what is proposed nearby on the City of Toronto’s development application map, and factor a few years of construction into your expectations.

Why the fee stays low, and what that means for you

A fee of about $0.72 per square foot is below many buildings in this part of the city, and it is worth understanding why. There is no concierge listed, no pool and no large gym to staff and maintain, and the fee does not cover heat or hydro. A lean amenity package keeps the budget down.

Low is only good if it is also adequate. A building that keeps fees low by under-funding its reserve fund simply pushes the cost onto future owners through steep increases or a special assessment later. I have no information suggesting that is happening here; it is just the right question to ask of any building with a fee below its neighbours.

So read the reserve fund study with one question in mind: does the planned contribution cover the major work expected over the next ten years without a jump in fees? If the answer is yes, the low fee is a genuine advantage. If it is unclear, ask the manager before you firm up.

Pricing: among the lower prices per square foot in the area

The building averages about $660 per square foot, which is low for midtown-north Toronto. For comparison, Accolade on Wynford Drive averages about $696 and 500 St Clair Avenue West about $870. When I checked, five suites were listed for sale, asking between $399,000 and $559,900. That is a tight range for a building with suites up to 1,266 square feet, and it means you can buy real space here for the price of a small one-bedroom elsewhere.

Fees on active listings average about $0.72 per square foot and include common elements, building insurance, parking and water. Heat and hydro are not listed as included, so budget for them separately, and confirm how heating and cooling are supplied in the suite.

With five listings competing at the time of writing, buyers have some choice and some leverage. Use the 12-month sold summary on this page to see what has actually traded, and request my building sold report for a detailed comparison before you make an offer.

Building specifications

Amenities at Plaza Royale

The amenities are modest: a rooftop deck, a party room, a meeting room and a sauna, with barbecues permitted. That keeps the operating budget lean, which is part of why the fee per square foot stays below the area average, but do not expect a full fitness centre or concierge.

Jatin’s honest take on Plaza Royale

Plaza Royale — 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.