Located right along the Bay Street Corridor, St. Thomas Commercial Developments is planning a half acre of commercial real estate- a nine-storey 93,000 square foot luxury office condominium. The development, which will incorporate the new with the old – thanks to the revitalization of 6 heritage buildings – is an exciting new project that will offer its commercial space for sale, rather than simply leasing. The project will be the first of its kind in the city to offer occupants the option to purchase rather than lease commercial units. According to the President of St. Thomas Commercial Developments, 7 St. Thomas is “designed to appeal to the business or individual who wants to own their luxury office space in a highly desirable residential neighbourhood in Toronto.”
On the southeast corner of Sultan and St. Thomas Streets, 7 St. Thomas will be close to the nearby Yorkville neighbourhood and the bustling intersection of Yonge and Bloor. Hariri Pontarini Architects undertook the design of 7 St. Thomas, with interiors by Munge Leung. It is scheduled for completion in 2014.
The 7 St. Thomas development site contains a collection of six heritage properties constructed in the 1880’s, all of which have been identified by the City of Toronto for their architectural and contextual significance. The proposed design will revitalize and restore the site’s existing townhomes.
Providing a mix of grade related retail and office space throughout the complex, the project is unique, as it represents the reintroduction of commercial development into an area which, over recent years, has been dominated by residential development.
The 6 restored heritage buildings along Sultan Street and St. Thomas Street will be incorporated into a new 3-storey podium. This podium, part of a larger 9-storey tower, will wrap around the existing buildings, matching them in scale and proportion. It will use glass and stone in order to contrast and enhance the heritage façades.The tower will be outfitted with undulating fritted glass and feature a frieze motif inspired by elements of the existing heritage buildings.
7 St. Thomas’ prime location means the utmost convenience for business owners. Central to all the action going on around it, 7 St. Thomas businesses will have the city at their fingertips. Below are just a few of many neighbourhood amenities that are nearby the commercial development.
- Within walking distance of Toronto’s busiest subway station, Yonge & Bloor
- Easy access to, the University of Toronto campus and both the Yonge-University-Spadina and Bloor subway lines
- Directly south of Yorkville’s luxury shopping and world class dining, as well as Yorkville Park
- Easy walk to the Four Seasons five star spa *insert hyperlink
- Close to other city hotspots like the Eaton Centre, City Hall, and the Royal Ontario Museum
Owning vs. Renting
7 St. Thomas offers a unique and exciting program of commercial owning, rather than renting. Why own? Here’s why, according to the developers:
- Maintain an ownership/equity position in your place of business
- Long-term financing available at ‘all time’ low rates
- Benefit from your equity growing as property values increase over time
- As your mortgage is paid down, your equity position grows. Essentially, paying rent (mortgage) to yourself
- Cost certainty versus fluctuating leasing markets
- Potential to produce income from your office asset in the future
- Control your business environment by having more flexibility in making your space fit the ‘culture’ of the company
- Convenience of direct elevator access to underground parking
- Term is not fixed or negotiated like a lease
- No relocation clauses commonly included in leases
- Flexibility for afterhours access
- Experience pride of ownership
Building Features and Amenities: Go Green!
The development will have a strong focus on contributing to positive urban environmental sustainability through its various Green features, making it a model for sustainability. These features include:
- A rain cistern
- Fritted glass for the reduction of glare and heat infiltration
- A new roof covered with low maintenance water efficient vegetation
- Limited parking structure
- Large bicycle storage system
- Close proximity to transit
Pricing (subject to change)
7 St. Thomas will offer Office Suites from 679 to 93,000 square feet, starting at $450,000.
Stay tuned as we update you on the progress at 7 St. Thomas!
Please contact Kaive Wong, Broker of Record, at (416) 929-1660 or via e-mail at email@example.com for more details.