Builder Profile: Plaza
A tale of two midtowns has been a success story for leading condo builder Plaza
Both Plaza Midtown in the Yonge and Eglinton neighbourhood of Toronto and Mississauga Square in Mississauga have been resounding hits with buyers who appreciate the advantages of midtown living.
While one in is a major urban metropolis and the other in a bustling western suburb, what both projects share are transit-oriented locations, a wealth of amenities and designs in tune with the market.
Plaza Midtown, in the Yonge and Eglinton neighbourhood, was an immediate success when it launched earlier this year. Almost 80 per cent of its 549 units are sold, with construction slated to start in early 2018. The project between Holly Street and Dunfield Avenue will have two towers, 34 and 27 storeys, and eight townhomes in what’s becoming Toronto’s most sought-after neighbourhood.
Yonge-Eglinton is highly walkable (with a near perfect WalkScore of 98) and provides easy access to the subway and the new Crosstown LRT line. The neighbourhood is home to numerous shops, restaurants, offices, schools and parks so everything residents need or want is close to home.
Plaza has found that its generously designed two-bedroom suites have struck a chord with buyers and those plans are included 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 825 to 900 square feet in size.
In a neighbourhood where a semi-detached home in need of extensive updating is priced at $1.2 million or more, Plaza Midtown’s spacious suites present an attractive and more affordable option for many buyers.
At this point only a limited number of suites are still available with one-bedroom plus dens from $575,000, two-bedrooms from $705,000 and three-bedroom suites from $850,000.
“We have buyers who are purchasing two and three-bedroom suites, anticipating future family living, as well as a lot of 50-yearolds buying for the purpose of moving there, knowing they’ll need space,” says Scott McLellan, senior vice president at Plaza. “Empty nesters want space for the grandkids to stay.”
A prime midtown location also defines Plaza’s Mississauga Square at Hurontario Street and Eglinton Avenue. It will be on the new Metrolinx LRT line, to run 20 kilometres from Port Credit to Brampton with 22 stops. In the first few days of its launch in early 2017, more than 300 of its 402 units (including 19 townhouses) sold, proving that location and price continue to be a winning combination.
“The new transit hub is near our site and you can be to Brampton in minutes or to the GO Station at the lakeshore in eight to 10 minutes,” says McLellan. “We are getting buyers from all over, but a lot are from Brampton, as well as some who grew up in Mississauga but have jobs in Toronto. They are suburban west end people, it’s their home and they don’t want to be anywhere else.”
The LRT will provide service GO Transit and MiWay bus terminals, as well as Square One shopping mall and the Hazel McCallion campus of Sheridan College. Highways 401, 407 and 403 are within a three-minute drive of Mississauga Square, making it easy to commute anywhere in the GTA or beyond.
The Square One shopping mall is within minutes’ drive, though within the immediate vicinity of Mississauga Square are coffee shops, pubs, restaurants, banks, a drug store and big box stores, as well as independent small and medium-sized businesses.
Mississauga Square buyers can expect their units to have good appreciation as the neighbourhood is designated as a key growth area and is undergoing redevelopment. Suites include one-bedroom units from 484 square feet in size and priced at $325,000 to 541 square feet at $335,000. Plaza’s popular two-bedroom suites are offered in Mississauga, ranging from from 634 to 749 square feet in size and priced from $420,000 to $495,000.
Condo amenities include outdoor pool, barbecue and lounge area, while inside is a fitness room, pool, party room and lounge. Buyers will appreciate the high quality standard features such as window coverings, Whirlpool appliances, laminate flooring and granite countertops.
At all of its projects, Plaza is committed to excellence in design as well as offering the best transit-oriented locations. Plaza has an established reputation for its excellence in customer service and dedicates more customer care representatives to a project than most other builders. Plaza takes pride in its proven ability to deliver new suites that have zero deficiencies.
For more information on Plaza Midtown, Mississauga Square and other projects from Plaza, visit PurePlaza.com.