The Carnaby, 15 Peel Ave: A Queen West Tower With a Metro Downstairs

The Carnaby is the big building in a neighbourhood of small ones. It has 434 suites in a glass tower and a mid-rise just north of Queen and Gladstone, and a Metro grocery store underneath. If you want West Queen West with a concierge, a gym and groceries in the basement, this is the obvious choice; if you want a boutique building, it is not. I’m Jatin Dua, RE/MAX Quantum Realty.

A tower, a mid-rise and a grocery store

The Carnaby has two parts. A glass tower sits on the southwest of the site, with white horizontal bands and white balconies breaking up the glass. A mid-rise portion extends north, and TACT gave it four different facade treatments and varied window sizes so it reads as several buildings rather than one block.

The height depends on the source. UrbanToronto describes a 20-storey tower and an 11-storey mid-rise, while condos.ca lists 22 floors. The difference may come from how mechanical or mezzanine levels are counted, but check the floor of any suite you are considering against the building’s own numbering.

The feature that sets the building apart is underneath it. A Metro grocery store occupies the lower level, with an entrance on Queen Street, and part of the grocery store’s roof was designed as a green roof. Few buildings in this part of the city let you buy groceries without going outside.

Part of a planned block, with lanes for people

The Carnaby is one phase of Streetcar Developments’ redevelopment of what was a derelict block at Queen and Gladstone. Two Gladstone and Eight Gladstone came first, and Twenty Condos is another phase. UrbanToronto also named Dream as a partner on the larger project.

The site was laid out around lanes that favour pedestrians, shared with cyclists and cars in a woonerf style, with shops and cafés at street level. One of those lanes gives the building its second address on Minowan Miikan Lane. A broad staircase drops from the lane down to Dufferin Street, and the plan included a new park along Dufferin with terraces that follow the slope.

Living here means living inside a small new district rather than on a single street. It is quieter than Queen itself, but it is also busier than a side street, because the lanes are public routes.

Because the phases were built over several years and share lanes, parking access and some services, ask how costs are divided between the corporations. Shared facilities agreements are normal in multi-phase sites, but they can add a line to your fee that buyers do not expect.

Suites from small studios to larger two-bedrooms

Condos.ca gives a range of about 380 to 1,425 square feet. Most of what comes to market is one-bedroom and two-bedroom suites in the 600 to 900 square foot range, judging by the current listings, with a few larger units.

The name and early marketing used the word lofts, and the 2013 penthouse release was pitched as loft living on the skyline. In practice, this is a modern concrete building with contemporary suites, not a hard-loft conversion. If you want exposed brick and timber, look at older conversions nearby instead.

I could not confirm ceiling heights for typical floors from a reliable source. Check them on the floor plan for the suite you are considering, and expect upper and penthouse levels to differ from the standard floors.

The scale is the trade-off

At 434 suites, The Carnaby has something a 75-suite building cannot: a large owner base to share the cost of a concierge, guest suites, a gym, a party room and a rooftop deck. Spread across more owners, those amenities are easier to support.

The cost is more turnover, more renters and more traffic in the elevators and the lobby. Seven suites were listed for rent at the time of writing, which is a sign of a sizeable rental pool. That is not a problem in itself, but it changes the feel of a building.

It also changes resale. With more suites trading in a typical year, you have a clearer picture of value before you buy and more comparables when you sell. In a 50-suite building, a single sale can swing what the market thinks the building is worth.

This corner of Queen West has the Gladstone Hotel and the Drake within a short walk, and the galleries and bars that gave the area its reputation. The data panel on this page has the transit, school and park details.

What The Carnaby costs

Condos.ca puts The Carnaby’s average at about $921 per square foot. That is below 109OZ on Ossington at about $972 and IT Lofts on College at about $988, and above Nero on Dundas West at about $855.

At the time of writing, four suites were for sale, with asking prices from about $519,000 to about $799,000. Their monthly fees ranged from about $507 to $664, or roughly $0.77 per square foot on average.

For a building with a concierge, guest suites and heat and water included, that fee level is reasonable. With several listings at once, buyers here have real choice and comparables, which is useful when negotiating. For recent sold figures, see the data panel on this page or ask me for a building sold report.

Building specifications

Amenities at The Carnaby

This is a full tower package without a pool: concierge, gym, party room, guest suites and a rooftop deck. The guest suites matter more than people expect in a neighbourhood of small homes, and the Metro downstairs is the amenity residents actually use every day.

Jatin’s honest take on The Carnaby

The Carnaby — frequently asked questions

Looking at Queen West, Trinity-Bellwoods, Kensington and Little Italy more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.