Studio on Richmond, 199 Richmond St W: The OCAD Gallery Tower Reviewed

Studio on Richmond is the shorter of two Aspen Ridge towers at Richmond and Duncan, and the one with an art gallery in its front door. The ground floor on Richmond was handed to OCAD University as a public gallery, and the condo sits on top of a podium shared with its taller sibling. It is a practical downtown building with one number I want every buyer to look at closely: the fee. I’m Jatin Dua, RE/MAX Quantum Realty.

Two towers, one podium, and a gallery at the door

Studio on Richmond was the first phase of a two-tower project by Aspen Ridge Homes. Its sister, Studio 2 at 30 Nelson Street, rises ten storeys higher behind it. UrbanToronto reports the towers share a nine-storey podium, with a third-floor terrace separating the two, and a lower mid-rise wing along Nelson Street.

The most unusual thing about the building is at street level. The Richmond Street ground floor was given to OCAD University for a public gallery, as the project’s Section 37 community benefit. The residential entrance sits just east of it, and a fitness centre takes the northeast corner of the ground floor. Few downtown condos give back that much frontage to a cultural use.

Architecturally, BDP Quadrangle broke up the long podium with precast panels in several shades and stacked, cube-like forms above. It is a well-mannered building rather than a showpiece. Interiors were by Mike Niven Interior Design and landscape by Baker Turner.

Layouts: mostly compact, with a few very large suites

Condos.ca lists suites from about 415 to 3,259 sq ft, but most of what trades here is one-bedrooms and one-plus-dens in the 500 to 800 sq ft range. Current listings bear that out. The larger suites near the top are rare and priced on their own terms.

Aspen Ridge marketed the tower with floor-to-ceiling windows, open-plan layouts and Miele kitchen appliances. In a suite under 600 sq ft, the open plan usually means the kitchen runs along the living-room wall, so look at where the fridge and the sofa actually go before you fall for the view.

Views depend heavily on direction. North-facing suites look over the lower Queen West fabric toward OCAD and the AGO; south-facing suites face a wall of newer towers on Adelaide and King. Upper floors on the north and east sides tend to hold their outlook best.

Studio 2 next door offers the same address-level convenience with a different mix. Aspen Ridge sold its second tower with a loft-inspired collection that used sliding glass panels in place of some interior walls. If you like the location but find the one-bedrooms here too tight, it is worth touring both towers on the same day, because the per-foot prices and fee inclusions differ more than the shared podium suggests.

The fee, and what is behind it

Condos.ca puts the fee on current listings at roughly $1.20 per square foot. That is high for a 2016 building. Tableau, a block west at 125 Peter, shows about $0.74 on the same measure, and The Pinnacle on Adelaide about $0.82.

Part of the gap is what the fee covers. Heat and air conditioning are included here, along with common elements and building insurance. Parking is not on the inclusion list, while Studio 2 next door does list parking as included, so compare carefully if you are weighing the two. Hydro is not listed, so expect to pay your own electricity.

The other part is structure. The two towers are separate condominium corporations, TSCC-2517 here and TSCC-2573 at Studio 2, sitting on a shared podium and garage. Shared-facility agreements are common in projects like this, and they decide who pays for what. Ask for the agreement and the cost-sharing schedule with the status certificate.

Richmond and Duncan, day to day

This is a central address. Queen Street is a block north, King West and the theatres two blocks south, and the Financial District is a walk east. OCAD University and the Art Gallery of Ontario are just north. The data panel on this page covers transit, schools and Walk Score in detail.

Richmond is a busy one-way street heading west, with a separated bike lane. Lower suites on the Richmond side will hear it. Duncan and Nelson are quieter, and the townhouse-scale frontage along Nelson softens that side of the block.

UrbanToronto reports the project’s garage has 485 underground spaces, with the top level run as paid public parking. That is convenient for your visitors, but it also means the garage is busier than a residents-only one.

Pricing context

Condos.ca puts the building average at about $824 per square foot. That is below most of its neighbours: Studio 2 next door sits near $901, Tableau around $915 and The Pinnacle on Adelaide about $890. For buyers, the lower per-foot price is partly offset by the higher fee.

Seven suites were listed for sale when I prepared this review. Six of them, from one-bedrooms to a two-bedroom, were asking between about $415,000 and $699,000, with one-bedrooms clustered in the $415,000 to $490,000 range. One much larger suite is priced well above the rest and should not be read as typical. Four suites were listed for lease at the same time, which is a normal level of rental activity for a 333-suite downtown tower.

When you compare this building with a newer one, add the fee into the monthly cost, not just the price. For the aggregate sold record at this address, ask for my building sold report.

Building specifications

Amenities at Studio on Richmond

The project was marketed with a ninth-floor amenity level split into a quiet zone with hot tubs and steam rooms and a social zone with barbecues, billiards and a party room. Which of those spaces each tower can use is set by the shared-facility arrangements, so confirm access before you count on them.

Jatin’s honest take on Studio on Richmond

Studio on Richmond — frequently asked questions

Looking at King West, Liberty Village and CityPlace more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.