Builder Profile: Pure Plaza
Plaza presents an array of dazzling condominiums across the GTA
For leading condo builder Plaza, the keys to success are simple: choose only the best, transit-oriented locations, be responsive to market need, and provide excellent customer service.
Those factors combined to make 2016 another extraordinary year for leading condo builder Plaza. Last year saw the sell-out of The Met, Plaza’s first condo project in the 905 area. The high-rise tower is in the heart of the new Vaughan Metropolitan Centre, a visionary live-work-play master-planned community, served by subway, that will form a new downtown for this vibrant suburban municipality.
Plaza poised for another benchmark year in 2017 with the March launch of the highly anticipated Plaza Midtown Condos in Yonge-Eglinton, in what’s rapidly becoming Toronto’s most desirable neighbourhood. The project between Holly Street and Dunfield Avenue will have two towers, 34 and 27 storeys, and eight townhomes.
“The feedback on Plaza Midtown has been extraordinary,” says Scott McLellan, senior vice president at Plaza. In excess of 2,000 people pre-registered for the condo. Plaza also invited residents of two high-end rental buildings in the neighbourhood to a special event to inform them about the buying opportunities available.
Yonge-Eglinton provides easy access to the subway and the new Crosstown LRT line … not to mention an impressive array of shops, restaurants, offices, schools and parks. Plaza knows from feedback gathered from its buyers that subway access is a priority for them, along with the advantages that come with living in walkable neighbourhoods.
Plaza keeps closely in tune with market trends and has demonstrated its ability to be ahead of the curve.
“One thing we’ve seen in the last two projects is that large suites are selling and that’s refreshing,” says McLellan. Plaza’s generously designed two-bedroom suites were an immediate hit with buyers and those plans will be offered at Plaza Midtown, along with one bedroom- plus-den and three-bedroom units. Many of the two-bedroom plans (710 to 740 square feet) are on corners or in wide-shallow configurations and the three-bedroom suites are a spacious 825 to 900 square feet in size. The townhouses offer an option for those that need even more space.
“When you take a look at the Yonge-Eglinton neighbourhood, a semi-detached home that needs renovating is priced at more than $1.2 million,” says McLellan. “Or you can buy a brand new 825-square-foot new condo for $660,000.
“Affordable ownership of a single family home is becoming more and more challenging,” he adds. “It’s going to continue to be a driver of the condo market. In fact, 99 per cent of all new construction in the 416 is condos.”
At two Plaza projects currently being occupied, Musée at Adelaide and Bathurst, and Epic between Queen and Lisgard across from the Drake Hotel, most buyers have been end users, not investors, which speaks volumes about the shift to condos because of affordability, says McLellan.
Two more Plaza projects coming later to market this year or early next continue the company’s mandate to deliver buildings in Toronto’s most sought-after neighbourhoods. One is a 12-storey mid-rise building with approximately 200 units at 170 Spadina, just north of Queen St., at the crux of the hip and happening Entertainment and Fashion Districts. The other will be another mid-rise building near Jane and Bloor, in vibrant Bloor West Village with its lively mix of shops, eateries and services. What these projects have in common is accessibility to transit and high Walk Scores.
As much as it is committed to excellence in design and creating residential buildings in the best transit-oriented locations in the city, Plaza is equally committed to excellence in customer service. Another highlight in 2016 was Plaza being named as a finalist in the highrise category of Tarion’s prestigious 2016 Homeowners’ Choice Awards. The awards recognize home builders who provide consistently high quality of construction, design and customer service.
What buyers can expect from Plaza is more customer care representatives assigned to a project than is typical with most other builders. McLellan says it’s a matter of pride with Plaza to deliver new suites that have zero deficiencies – and that’s a record they intend to uphold as each new building is completed.
For further information on Plaza and its coming projects, visit PurePlaza.com.