Condo Pro: From None to 5-Star Hotel/Condos

By Barbara Lawlor

I have traveled the world, and as far as I am concerned, Toronto has the most exciting condominium market anywhere. Our city has taken its place among the globe’s cosmopolitan urban centres, with enviable cultural, entertainment, dining and shopping venues rivaling the world’s finest. It is only natural that travelers have arrived en masse to stay and/or live part or all of the year in our spectacular condominiums, and that elite buyers moving from estate homes are choosing the condo lifestyle as well. It is amazing how many penthouses and condominium suites in Toronto begin in price from a million dollars and go up from there! It is also no surprise that in the past handful of years, we have gone from having no ultra-luxury condominium residences atop 5-star hotels, to being home to FIVE.

Until The Residences at The Ritz-Carlton, Toronto; Trump International Hotel & Tower Toronto; Four Seasons Private Residences Toronto; ShangRi-La Toronto; and The Hazelton Hotel and Residences came on the scene, wealthy buyers had to choose from penthouses at the top of traditional residential condominiums. Now they have that option and the opportunity to live on top of a fabulous hotel, with access to world-class amenities under their very roof. In addition to spacious suites that live like low-rise homes, these residences offer access to incredible hotel amenities and comprehensive services, from housekeeping to room service and dog-walking.

These choosy buyers want more convenience and less space, but they expect to indulge in the same level of quality they are used to. They also want the ability to entertain and relax in style, in stunning surroundings with incredible views. Frequent Toronto travelers welcome the opportunity to own a gorgeous home while enjoying the personalized service they expect from their favourite hotel.

And speaking of hotel stays, living in the same building as a hotel also means that the lobby is, in essence, part of your home. The lobby is the space that offers an immediate sense of place and sets the tone for the rest of the building. It is where the ever-important concierge provides numerous services from booking theatre tickets, to taking deliveries, arranging for cars to be washed, calling taxis or limos to the airport, delivering flowers or groceries to your suite, and more.

Suites situated over 5-Star hotels have layouts so spacious that owners can host a private party catered by the hotel restaurant.Whether high-rise or boutique, nothing is more decadent than being able to hop onto an elevator to access opulent spas, magnificent ballrooms, professional exercise facilities, glorious swimming pools, inviting saunas, electronically advanced business centres, sophisticated theatre rooms and whatever other pampering amenities these hotel developers come up with. For large gatherings, residents can book a gala party. Many of these upscale residences have their own exclusive amenities as well. And when suite owners have overnight guests, there’s an entire hotel below to accommodate them.

Best of all, the repair, maintenance and upkeep of these uncommonly beautiful common areas is taken care of for residents. Their precious leisure time can be used for leisure activities - a rare occurrence in today’s hectic world!

We are also seeing the emergence of boutique luxury buildings with large suites that satisfy this discriminating clientele as well. Many buyers appreciate living in a more intimate building with like-minded individuals who are all enjoying the transition from estate homes to condominium suite living.

Regardless, even our condominiums that are not over hotels are world class. Cities like New York, Las Vegas and Chicago are home to fabulous condos, but to achieve the level of standard appointments Toronto buyers enjoy, they pretty much have to upgrade. When you look at Toronto compared to other major markets, we truly cater to the luxury seeker - now, more than ever before.

Barbara Lawlor is President of Baker Real Estate Incorporated and an in-demand columnist and speaker. A member of the Baker team since 1993, she oversees the marketing and sales of condominium developments in the GTA and overseas. Keep current with The Baker Blog at blog.bakerrealestate.com