The Phoenix, 1901 Yonge St: A 1964 Office Tower Turned Condo

The Phoenix at 1901 Yonge Street started life as an office building in 1964 and was reborn as 63 condo suites in the mid-1990s, which is where the name comes from. It is small, it sits right at Yonge and Davisville, and it trades at a lower price per square foot than almost anything new around it. That discount is real, and so are the questions a conversion raises. I’m Jatin Dua, RE/MAX Quantum Realty.

An office building that became a condo

The Architectural Conservancy Ontario’s building database records 1901 Yonge as a 1964 office building converted to residential use in 1994, with Huang and Danczkay Limited listed as general contractor. Condos.ca names Iron Developments as the developer, and the condominium was registered in May 1995.

That makes The Phoenix an early office-to-condo conversion on midtown Yonge, done more than 30 years ago. The building was discussed in a 2007 Globe and Mail piece by Dave LeBlanc on office conversions, which tells you it has been recognised as a notable example of the type.

From the street, the giveaway is the blue-tinted glass facade, which rental site liv.rent describes along with its many balconies. It does not look like a 1960s office block anymore, but the structure underneath still is one.

What a conversion means inside the suite

Office buildings are built differently from apartment towers. Floor plates are often deeper, column spacing is set for open offices, and plumbing and ventilation have to be added rather than designed in from the start. In a conversion, suite layouts are shaped around that structure.

In practice, that can mean wider suites, unusual room shapes, and kitchens or bathrooms placed where the plumbing could be run, rather than where you would expect. Condos.ca puts suite sizes at about 632 to 1,292 square feet, which is a generous range for a 63-suite building.

When you view a suite here, look at how deep the living space runs from the windows, where the bedroom windows face, and how the bathrooms are ventilated. Ask whether the suite’s plumbing and electrical have been updated since the conversion, and look at the windows and balcony doors, which may date from the conversion and would now be around 30 years old.

A small building with a roof terrace

With only 63 suites, The Phoenix is a boutique building by midtown standards. That has advantages: fewer neighbours, a quieter lobby and elevators, and a board where individual owners can have a real say.

The disadvantage is cost sharing. Big repairs such as a roof, the facade, the elevators or the garage are split among fewer owners, so the reserve fund has to be healthy. Read the reserve fund study and the last few years of board minutes before you firm up an offer.

On the amenity side, liv.rent describes a penthouse-level common terrace with barbecues, a gym and a party room, while condos.ca lists visitor parking, an underground garage, a security guard and a security system. A rooftop terrace in a building this small is a real advantage in summer.

Small buildings also mean patience if you are buying. With only 63 suites, listings here do not come up often, and there were none for sale when I checked, so if you want a particular size or exposure, it helps to be ready with financing in place and to move when the right one appears.

Life at Yonge and Davisville

The Phoenix sits on Yonge right where Davisville Avenue meets it from the east and Chaplin Crescent continues to the west. You are in the middle of the Davisville strip, with restaurants, coffee shops, grocery stores and services on Yonge within a short walk.

This part of Yonge has been changing quickly, with new towers rising between Davisville and Eglinton. That brings more shops and more people, but also more construction and the chance that a view you pay for today is blocked later. Check what is proposed on the nearby lots before you buy.

Transit, schools and walkability are in the data panel on this page. For most residents here, a car is optional for daily life, though parking is included in the fee if you have one.

What The Phoenix costs

Condos.ca puts the building average at about $649 per square foot. That is well below the newer towers around Yonge and Eglinton and Yonge and Davisville, many of which trade at a large premium for new finishes, amenities and newer mechanical systems.

There were no suites listed for sale when I checked, which is not unusual in a 63-suite building. With so few suites, comparables are thin, and a single renovated or unrenovated sale can move the average. Look at closed sales over the past one to two years rather than one data point.

For the latest closed results, use the sold data on this page or ask me for a building sold report. The fee includes heat, cooling, water and parking, so compare total monthly costs with any newer building you are considering, not just the purchase price.

Hydro is not listed among the inclusions, so ask the seller for recent hydro bills and confirm with the status certificate how the suite is metered. In an older building, how heating and cooling reach each suite is worth understanding, because it affects both your comfort and the corporation’s future costs.

Building specifications

Amenities at The Phoenix

This is a practical, small-building package: a shared rooftop terrace, a gym and a party room, plus security and parking. Do not expect a pool or the long amenity list of a new tower. Confirm what is currently open and how the terrace is booked.

Jatin’s honest take on The Phoenix

The Phoenix — frequently asked questions

Looking at Yonge & Eglinton, Davisville and North Toronto more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.