Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
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Promenade Park Towers is Liberty Development’s new two-tower condo at 1 Promenade Circle, beside Promenade Shopping Centre at Bathurst and Centre Streets in Thornhill, Vaughan. The towers are 30 and 35 storeys, finished in 2025, with move-in-ready suites still offered by the builder. Vaughan condo apartments had a $530,000 median in January to October 2026.
This guide is for buyers and renters looking at Promenade Park Towers, the new condo towers beside Promenade Shopping Centre in the Thornhill part of Vaughan, for 2027. You will get the verified building facts, sample suite sizes, amenities, Vaughan-wide prices and rents with sources, what changes when you buy a finished suite straight from the builder, and what to check first.
Where is Promenade Park Towers and what is nearby?
Promenade Park Towers sits at 1 Promenade Circle, on the grounds of Promenade Shopping Centre at Bathurst Street and Centre Street. That is the Thornhill district of Vaughan, south of Highway 407 and Highway 7. Do not confuse it with the Markham side of Thornhill east of Yonge Street; this is Vaughan.
The location’s main draw is the mall next door. Liberty describes the towers as adjacent to Promenade Shopping Centre, with shopping, dining and everyday errands steps away. The mall opened in 1986, and in 2017 it was bought by a partnership of the Serruya family and Liberty Development Corporation, which then put forward a redevelopment plan to the City of Vaughan with a major renovation, several condo towers and a mixed-use office and hotel tower on the parking lots.
So Promenade Park Towers is the first phase of a larger plan. More construction on the mall lands is likely over the coming years, which will bring new shops and homes, and also noise and change.
Who built Promenade Park Towers and when was it finished?
Liberty Development Corporation built Promenade Park Towers, and Liberty’s own site now markets them as completed, move-in-ready suites.
| Fact | Promenade Park Towers |
|---|---|
| Builder | Liberty Development Corporation |
| Address | 1 Promenade Circle, Vaughan (Thornhill) |
| Towers | Two buildings, A and B, of 30 and 35 storeys |
| Units in the two towers | 748 (reported) |
| Height of the taller tower | About 105 metres |
| Completed | 2025 (taller tower) |
| Future phase | A third Promenade Park tower is planned |
Source: Liberty, Promenade Park Towers sales page; Wikipedia articles on Promenade Shopping Centre and on the tallest buildings in Vaughan. The unit count and storeys are reported figures; confirm them in the condo declaration.
Public building lists describe the 35-storey tower as the tallest building in Vaughan outside the Vaughan Metropolitan Centre area. That gives upper-floor suites long views over Thornhill’s low-rise streets.
What suite types and sizes are at Promenade Park Towers?
Liberty offers completed one-, two- and three-bedroom suites. The sample inventory on its sales page in November 2026 included:
| Suite (builder plan name) | Building | Size |
|---|---|---|
| One bedroom plus den (1L+D) | B | 605 sq ft |
| One bedroom plus den (1R+D) | B | 688 sq ft |
| Two bedroom plus den (2B+D) | A | 910 sq ft |
Source: Liberty, Promenade Park Towers available suites, November 2026. Liberty notes more units are available than shown; prices are given on request.
These sample sizes compare well with many newer suites in the Vaughan Metropolitan Centre, and the two-bedroom-plus-den at 910 sq ft can work for a small family or a downsizer. Always check the floor plan, the exposure and the floor before comparing prices.
What amenities does Promenade Park Towers have?
Liberty highlights a rooftop terrace and a fitness centre, together with the convenience of living beside the mall. I could not confirm a complete amenity list from Liberty, so tour the amenity spaces and ask for the condo’s rules on bookings, guests and fees before you buy or lease.
How much are maintenance fees at Promenade Park Towers?
I could not find a reliable published fee range, so I will not guess one. In a new building the first budget is set by the developer, and the owners’ board may revise it once real operating costs are known.
If you buy a resale suite, the status certificate shows the unit’s current fee, any increase the board has announced, any special assessment and the reserve fund. If you buy from Liberty, ask for the disclosure documents and current budget. My guide to what to look for in a condo status certificate covers what to read.
Because the mall lands will keep changing, ask your lawyer whether the condo shares any roads, parking, loading or other facilities with the mall or future towers, and how those costs are split. Shared-cost agreements can raise fees later.
Condo Valuation
What’s your condo
worth today?
Three quick steps. Condos don’t price like houses — your floor, your view, and whether you own parking move the number more than anything else. This weighs all of them.
Reading recent condo sales…
Estimated market value
—
$0–$0
Most likely $0 · about $0 per square foot
What moved the number
Starting from what comparable units in your area sell for, here’s what your specifics added or subtracted.
Market context
—
—
Two units, same floor plan,
$90,000 apart.
That happens constantly in condos — one has the parking, the right exposure, or a board that keeps the reserve fund healthy. A model can’t see your status certificate. I can.
What do condos at Promenade Park Towers sell and rent for?
TRREB reports Vaughan as a whole, not single buildings, and Liberty does not publish a price list online. These city-wide numbers include every Vaughan condo, so use them as context only.
| Vaughan, Jan to Oct | 2024 median | 2025 median | 2026 median | Change vs 2025 | 2026 sales | Avg. days on market |
|---|---|---|---|---|---|---|
| Condo apartment | $635,000 | $595,000 | $530,000 | -10.9% | 664 | 42 |
| Condo townhouse | $840,000 | $817,500 | $768,000 | -6.1% | 87 | 35 |
Source: TRREB MLS data via REALM, January to October 2026 vs the same period of 2025 and 2024. City of Vaughan, all condo buildings.
TRREB’s October 2026 Market Watch shows 57 Vaughan condo apartment sales at a median of $520,000 and 419 active listings, with units selling at 96% of list after 42 days on average. That is about 7.4 months of supply by my arithmetic. Buyers have room to negotiate, both on resale suites and with the builder.
Rents in Vaughan
| Vaughan apartments, Q2 2026 | Leases | Average rent |
|---|---|---|
| One bedroom | 588 | $2,130 |
| Two bedroom | 384 | $2,666 |
| Three bedroom | 9 | $3,300 |
Source: TRREB Rental Market Report, Q2 2026, average lease rates for Vaughan. The Q3 2026 report was not posted when I checked on 10 November 2026.
See how much a condo is worth in Vaughan for more on prices.
How do you get around from Promenade Park Towers?
The Promenade has long had a York Region Transit terminal beside the mall, with service connecting to Finch and Vaughan Metropolitan Centre subway stations, and TTC buses also serve it. A Viva rapid transit stop sits on Centre Street along the Highway 7 rapidway. Stop locations can shift during construction, so check the current YRT and TTC maps before you commit.
By car, Bathurst Street and Centre Street give access north to Highway 7 and Highway 407 and south into Toronto. Time your own commute at rush hour, and confirm in writing whether a parking space and locker come with the suite.
What are the pros and cons of Promenade Park Towers?
Pros
- A brand-new building, finished in 2025, with most of the Tarion warranty period still ahead.
- Next to a large shopping centre for daily errands.
- Suite sizes in the sample inventory are generous for a new condo.
- Bus connections to two subway stations from the mall terminal.
- Possible new-home tax rebates when you buy an unoccupied suite from the builder.
Cons
- No subway within walking distance.
- More towers and mall redevelopment planned around you.
- A young condo corporation with little fee and reserve history.
- Builder pricing is not published, so comparisons take more work.
Who is Promenade Park Towers best for?
- Downsizers from Thornhill houses who want to stay near their community and shops.
- First-time buyers who may qualify for new-home rebates on a builder suite. My Vaughan first-time buyer guide walks through the costs.
- Renters who want a new building with a mall on the doorstep and bus links to the subway.
Choose elsewhere if you need to walk to a subway station or want a finished, settled neighbourhood with no construction nearby. If you are weighing agents in the area, my notes on choosing a realtor in Thornhill may help.
Buying or renting at Promenade Park Towers in 2027
Buying a finished suite from Liberty
A suite bought directly from the builder that no one has lived in is a new home for tax purposes. According to CRA Notice 346, Ontario’s enhanced new housing rebate applies to agreements signed from 1 April 2026 to 31 March 2027: a full rebate of the 8% Ontario part of the HST up to $80,000 on homes up to $1 million, a flat $80,000 up to $1.5 million, and a partial rebate up to $1.85 million. Eligible first-time buyers may also get federal GST relief. Rules and eligibility are detailed, so confirm them with your lawyer before you sign. My guide to the Ontario HST rebate on new homes explains how the pieces fit.
Rates and rent rules
The Bank of Canada raised its policy rate to 2.50% on 28 October 2026, and prime rose to 4.70%. The next decision is on 9 December 2026. For renters, units first occupied after 15 November 2018 are exempt from Ontario’s rent increase guideline (1.9% for 2027), so increases here are not capped, though landlords still need 90 days’ written notice and 12 months between increases.
In my view, the strongest case for Promenade Park Towers in 2027 is a buyer who qualifies for the new-home rebates and wants a larger new suite next to shopping in Thornhill. With Vaughan condo prices down two years in a row and more than seven months of supply, ask Liberty for its best price and any incentives in writing, and compare that with resale suites in the same towers.
What to do next
- Ask Liberty for current pricing, floor plans and the disclosure package for the suites you like.
- Have a lawyer confirm your rebate eligibility before you sign.
- Compare against any resale listings in the same towers.
- Check the YRT and TTC routes from the Promenade terminal for your commute.
- Get mortgage pre-approval at current rates.
Need help with this? Talk to me.
I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty, and I’m the best agent to do this kind of work for you in Toronto and across the GTA. Over $100 million in GTA sales and 100+ families helped sell. Feel free to contact me any time: call or text 833-330-1925 or email [email protected].
Frequently asked questions
Is Promenade Park Towers a good place to live?
Promenade Park Towers suits people in 2026 who want a brand-new condo beside Promenade Shopping Centre in Thornhill, Vaughan, with bus links to Finch and Vaughan Metropolitan Centre subway stations. It is not walkable to a subway, and more redevelopment is planned on the mall lands. I do not publish resident reviews, so visit and read the documents first.
Who built Promenade Park Towers in Vaughan?
Liberty Development Corporation built Promenade Park Towers. Liberty is part of the partnership with the Serruya family that bought Promenade Shopping Centre in 2017 and proposed a redevelopment of the mall lands. Liberty markets the towers as completed, with move-in-ready one-, two- and three-bedroom suites available as of November 2026.
What is the address of Promenade Park Towers?
Promenade Park Towers is at 1 Promenade Circle in Vaughan, on the grounds of Promenade Shopping Centre at Bathurst Street and Centre Street. The area is the Thornhill district of Vaughan, south of Highway 407 and Highway 7, not the Markham side of Thornhill east of Yonge Street.
How tall is Promenade Park Towers?
The two Promenade Park Towers are 30 and 35 storeys, with about 748 units between them, according to public reference sources. The taller tower is about 105 metres and was completed in 2025, which makes it the tallest building in Vaughan outside the Vaughan Metropolitan Centre area. A third tower is planned.
How big are the suites at Promenade Park Towers?
Liberty’s sample inventory for Promenade Park Towers in November 2026 listed one-bedroom-plus-den suites of 605 and 688 sq ft in Building B and a two-bedroom-plus-den of 910 sq ft in Building A. Liberty says more suites are available than shown, so ask for full floor plans and prices.
Can I get an HST rebate buying at Promenade Park Towers?
Possibly, if you buy an unoccupied suite directly from the builder. CRA Notice 346 says Ontario’s enhanced new housing rebate covers agreements signed from 1 April 2026 to 31 March 2027, with a full rebate of the Ontario 8% portion up to $80,000 on homes up to $1 million. Confirm your eligibility with a lawyer before signing.
How much is rent for a two-bedroom condo in Vaughan in 2026?
A two-bedroom apartment in Vaughan leased for an average of $2,666 a month in Q2 2026, based on 384 leases in TRREB’s Rental Market Report. One-bedrooms averaged $2,130. These are city-wide averages, not figures for Promenade Park Towers. TRREB’s Q3 2026 report was not posted as of 10 November 2026.
Is Promenade Park Towers rent controlled?
No. Promenade Park Towers was first occupied long after 15 November 2018, so its units are exempt from Ontario’s rent increase guideline, which is 1.9% for 2027. Landlords can raise rent by more than that, but they must give at least 90 days’ written notice and wait 12 months between increases.
Is there a subway near Promenade Park Towers?
No subway station is within walking distance of Promenade Park Towers. The York Region Transit terminal at the Promenade has service connecting to Finch and Vaughan Metropolitan Centre subway stations, TTC buses also serve it, and a Viva stop sits on Centre Street. Check current routes before you buy or sign a lease.
Sources
- Liberty Development, Promenade Park Towers (move-in-ready suites)
- Wikipedia, Promenade (shopping centre): history, redevelopment and transit
- Wikipedia, List of tallest buildings in Vaughan
- Canada Revenue Agency, Notice 346: Ontario enhanced new housing rebate
- TRREB Market Watch, October 2026
- TRREB Rental Market Report, Q2 2026
- Bank of Canada, policy rate announcement, 28 October 2026
- Tarion, Three things owners of a resale home should know
Related reading
- Living at Exchange District Condos, Mississauga: 2027 Buyer and Renter Guide
- Living at Pinnacle Uptown, Mississauga: 2027 Buyer and Renter Guide
- Living at The Grand Residences at Parkside Village, Mississauga: 2027 Buyer and Renter Guide
- Living at The Condominiums at Square One District, Mississauga: 2027 Buyer and Renter Guide
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Toronto. I work with buyers and sellers across Toronto and the GTA and have helped more than 100 families sell. Four-plus years of active GTA transactions and over $100 million in sales volume.
Reach me at [email protected] or 833-330-1925, or book a call.