Village Terraces, 260 Heath St W: Big Suites, All-In Fees, Forest Hill

Village Terraces is the building I show to people leaving a Forest Hill house who still want real rooms. It is an 18-storey concrete tower from 1981, the suites run from about 750 to almost 2,000 square feet, and the monthly fee pays for heat, hydro, air conditioning, cable and parking. You pay for that in the fee, and you need to read the reserve fund before you fall for the square footage. I’m Jatin Dua, RE/MAX Quantum Realty.

A 1981 tower built for people moving out of houses

Cadillac Fairview was one of the large developers shaping Toronto in that era, and Village Terraces reflects the market it was built for at the time: owners coming out of family homes who wanted fewer stairs, not fewer rooms. The smallest suites here are around 750 square feet and the largest are close to 2,000. There are very few micro-units to drag the building toward an investor crowd.

The building sits just north of Heath Street West, a block above St. Clair Avenue West, between Spadina Road and Bathurst Street. That puts it on the edge of a street grid of large detached houses, which is part of why units here tend to move between owner-occupiers rather than landlords.

Its next-door neighbour is Village Park at 240 Heath Street West, a slightly older and smaller tower with an indoor pool. Buyers looking at one should look at the other, because between them they make up most of the larger-suite condo stock in this pocket.

The fee covers nearly every bill

Condos.ca lists the fee as covering common elements, heat, hydro, central air conditioning, cable TV, building insurance, parking and water. A local agent’s building profile gives the same list. That is about as complete as fee inclusions get in Toronto.

It explains why the fees look high in absolute dollars. The two suites listed for sale when I checked carried monthly fees of roughly $2,000 to $2,650. Before you compare that with a newer building, add back the hydro, heating, cable and parking you would pay separately elsewhere. In a 1,500 square foot suite with air conditioning running through a Toronto summer, that is a real number.

The flip side is that the corporation carries the energy bill. When utility rates rise, everyone’s fee rises with them, whether or not they run the air conditioning. Look at how the utility lines in the budget have moved over the past three to five years, and ask whether the building has done any energy retrofits.

Terraces, layouts and what 45 years means

The name is not marketing. Agent descriptions of the building note that many one- and two-bedroom suites have large terraces, with generous windows and separate kitchens. Sizes run from about 751 to 1,972 sq ft, so the top end is a genuine house replacement, and some suites add a den.

Exposure matters more than floor count in a building surrounded by low-rise streets and ravine. Higher suites get open views over the tree canopy, while lower suites look into it, which some buyers actually prefer. Ask which way the suite and its terrace face, and visit at the time of day you would use the outdoor space.

Expect original layouts with walls, defined dining rooms and separate kitchens unless an owner has renovated. Renovation quality varies a lot from suite to suite in a building this age, so compare the suite you are looking at with the original plan and ask what was opened up and with what permission.

Daily life between the village and St. Clair

Forest Hill Village on Spadina Road is a short walk north for coffee, restaurants, banks and the LCBO. For a big grocery run, the Loblaws on St. Clair West is the closest full-size store. For many owners here, that combination is the reason they chose the building: the daily errands can all be done on foot.

Green space is the strongest part of the location. Sir Winston Churchill Park and the ravine trails are close, Wells Hill Park is nearby, and Cedarvale Park to the west has tennis courts, a playground, an off-leash area and trails. If you have a dog or you walk every morning, this is a good address for it. The transit and walkability details are in the data panel on this page.

What Village Terraces costs

Two two-bedroom suites were listed for sale when I checked, asking between about $1.0 million and $2.23 million. That spread is wide because suite size and condition vary so much here; a renovated large corner suite and an original smaller two-bedroom are effectively different products under one roof.

There were no suites for rent at the time, and that matches what agents say about this building: units do not change hands often, and when a good one comes up, it tends not to sit. You should expect to wait for the right suite rather than choose from many.

On fees, the per-square-foot figure looks high next to a newer midtown tower, but the comparison only makes sense on an all-in basis. A newer building at a lower fee usually leaves you paying hydro, heating and cable on your own and a separate charge for parking. Put both on the same monthly basis and the gap closes considerably.

Because sales are infrequent, building averages here can move on just one or two trades. If you want to see what has actually sold, my building sold report pulls the aggregate figures from the MLS system.

Building specifications

Amenities at Village Terraces

The package is classic for its era: a concierge, security staff, an outdoor pool for summer, a sauna and steam room and an exercise room, plus generous storage. It is not a party-room tower, which suits the owner-occupiers who live here.

Jatin’s honest take on Village Terraces

Village Terraces — 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.