Merchandise Lofts Phase V, 135 Dalhousie St: The Quiet 46-Suite Wing

135 Dalhousie is the part of the Merchandise Lofts most buyers walk past without noticing. It is a five-storey, 46-suite extension finished in 2003 beside the famous 1910 Simpson’s warehouse conversion at 155 Dalhousie, with its own condo corporation and a much smaller, quieter feel. It is a good building, but it is not the hard loft many people think they are buying. I’m Jatin Dua, RE/MAX Quantum Realty.

Next door to one of Toronto’s best-known loft conversions

The Merchandise Building at 155 Dalhousie began in 1910 as a Simpson’s department store building, designed by Max Dunning of Burke, Horwood and White. It grew in stages through 1949, served as a Sears warehouse until the 1990s, was designated under the Ontario Heritage Act in 1997, and was converted into lofts by Cresford Developments in the late 1990s.

135 Dalhousie came later. It is a five-storey extension completed in 2003, built to sit with the original but registered as its own corporation, TSCC-1565. Condos.ca does not name its developer, and I could not confirm one independently, so I will not guess.

The practical point is that this is new construction from 2003, not a converted warehouse. Buyers who want original brick, timber or concrete columns and the warehouse windows should look at 155 Dalhousie. Buyers who want the address and the neighbourhood in a smaller, newer building should look here.

Soft lofts, skylights and courtyard balconies

Suites here run roughly 564 to 1,421 sq ft, mostly open-plan one- and two-bedroom layouts. One loft specialist notes that top-floor suites have skylights and that the balconies face interior courtyards rather than the street, which makes them quieter and more private than a typical downtown balcony.

Because it is a 2003 build, expect soft-loft finishes: open plans and generous windows rather than exposed original structure. Ceiling heights vary by suite and floor, so ask for the measurement rather than assuming the 12-foot ceilings of the original building.

With only 46 suites over five floors, this is a genuinely small building. You will know your neighbours, the hallways are short, and there is very little elevator waiting. The flip side is that every repair is split among fewer owners.

Sources do not agree on the numbers for this complex. One loft site gives a single unit count and size range for 135 and 155 together, with figures that do not match each other or condos.ca. For this building, I would rely on the condos.ca figures for TSCC-1565 and the floor plan of the actual suite.

Amenities, and the shared-facilities question

Condos.ca lists a gym, sauna, security guard, enter-phone system, parking garage and elevator for 135 Dalhousie. The original building next door has a much bigger package, including a rooftop pool and dog run, a half basketball court and a large gym.

One loft specialist says residents of 135 go outside and into 155 to use those facilities. Whether Phase V owners have full access, and what they pay toward it, depends on a shared-facilities agreement between the two corporations. Ask for that agreement with the status certificate and read the cost-sharing section, because it affects both your fee and your future special-assessment risk.

If the larger amenity package is the reason you are buying, confirm access in writing before you firm up. If you only need a gym and a sauna, 135 has its own.

Living on Dalhousie Street

Dalhousie is a short, quiet street between Church and Jarvis, a block from the bustle of Dundas and close to Toronto Metropolitan University. The Merchandise Building has a supermarket at ground level, which makes everyday shopping easy.

For daily life, the location is hard to beat for the price. You can walk to the Eaton Centre, the theatres on Yonge, St. Lawrence Market and the Financial District, and the university campus is on your doorstep. Many owners here do not keep a car at all.

The area around Dundas and Church is a dense, mixed part of downtown, with student housing, older rental buildings and new towers going up. That brings energy and convenience, and some street noise. Walk the block in the evening before you decide, and check the City of Toronto development applications map for anything planned nearby.

What 135 Dalhousie costs

Condos.ca puts the building average at about $732 per square foot. That sits below most newer downtown towers and generally below the hard lofts next door, which is consistent with this being a 2003 soft-loft building rather than a heritage conversion.

Only one suite was for sale and none were for lease when I checked, so there is no active asking range to quote. In a 46-suite building, a handful of sales a year is normal, and good suites go quickly.

When comparables are thin, I widen the search. I look at recent sales at 155 Dalhousie and at other small soft-loft buildings around Church and Dundas, then adjust for size, floor, outdoor space and parking. That gives a much more reliable picture than one or two sales in a 46-suite building.

Condos.ca lists heat, air conditioning and water in the fee as well as common elements and insurance, so the monthly fee covers more than in many newer buildings. Compare total monthly cost, not the fee alone, and make sure you know what you contribute to the shared facilities at 155. If you want a value check on a suite, I can pull comparables through my building sold report.

Building specifications

Amenities at The Merchandise Lofts Phase V

On its own, 135 Dalhousie has a modest package: a gym, a sauna and security. The real question is access to the much larger facilities at 155 Dalhousie next door, which depends on the shared-facilities agreement, so confirm it before you buy.

Jatin’s honest take on The Merchandise Lofts Phase V

The Merchandise Lofts Phase V — 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.