The 50 Scollard Condos Toronto development is a pre-construction project with an estimated occupancy date of March 2023. Currently, only a small number of units have been released to VIP real estate agents, starting from $1.2 million and $1,600 per square feet.
About 50 Scollard
50 Scollard will be home to only 64 residences in its 41-storey tower. Some suites offer direct elevator access and floor-to-ceiling windows. One bedroom suites are available ranging between 716 to 779 square feet, while two bedrooms are available anywhere from 835 square feet to 1,400 square feet and up.
The development is planned with beautifully-landscaped outdoor spaces while offering luxury in-house services such as dedicated valet service, concierge and porter staff.
All suites include luxury finishes such as wide-plank engineered hardwood flooring throughout, linear gas fireplaces, your choice of quartz or granite countertops in the kitchen, and wine fridges. Master baths include in-floor radiant heating and a freestanding tub, while all washrooms include your choice of marble or porcelain tile flooring and shower tiling, marble slab countertops, freestanding tubs, and frameless glass showers. Units also come with custom closets with organizers, a laundry tub, security system, and one parking space per unit with an individually metered hydro connection for electric vehicle charging.
Amenities are equally luxurious. The building includes 24-hour resident valet service, 24-hour concierge service, and porter service. Building services further include chauffeured house car service for resident use, a car wash facility located in the parking garage, a pet spa, executive boardroom space on the second floor along with a house management office, a fitness centre with cardio and weights as well as a dedicated yoga and stretching area, an indoor/outdoor pool with his and hers change rooms and washrooms, a lounge with fireplace adjacent to a dry sauna, steam room, and treatment room, a private dining area, a working kitchen adjacent to a private dining area, and an exclusively stocked wine club.
50 Scollard Financials
Currently, a select number of units area available at 50 Scollard. These include one-bedroom suites anywhere from $1.2 million to $2.5 million, and two-bedroom suites from $1.3 million to $2.6 million.
Interested buyers for 50 Scollard require $25,000 with the offer. The deposit is then as follows:
- Balance to 10 per cent in 45 days
- 10 per cent on March 1, 2020
- 6 per cent on occupancy
A special extended deposit structure is included for those who purchase early through a VIP agent. Refer to the “Looking for an In?” section below.
Taxes are expected to cost approximately 0.77 per cent of the purchase price, and maintenance fees will cost $1.03 per square foot, with hydro, water and gas charged separately.
One valet parking spot is included with every unit, with deeded parking available for suites that are 2,000 square feet or larger.
The 50 Scollard Neighbourhood: Yorkville
50 Scollard has a fantastic location within one of Toronto’s most luxurious and internationally-recognized neighbourhoods. It is also minutes to Toronto’s top institutions: The University of Toronto for education, Royal Ontario Museum for arts, and Mount Sinai Hospital for medicine.
Luxury shopping abounds in Yorkville, with brands such as Chanel, Louis Vuitton, Prada, and Tiffany & Co taking up residence in the neighbourhood.
Yorkville demographics illustrate an affluent and educated neighbourhood. Approximately 11,000 people live in the neighbourhood of 6,600 households. The median age of those in the neighbourhood is 51. Half of those who live in the neighbourhood are married. 70 per cent of those couples do not have kids. The average household income of those living there is an impressive $230,733 a year. 70 per cent of Yorkville residents have a University degree.
Toronto itself is the leading city in population growth among central cities in North America, and is the fourth largest city in North America. The city sees more than 100,000 new immigrants a year and, in 2017, was the fastest-growing tech jobs market, outpacing job growth in San Francisco, Seattle, and Washington DC combined.
Why Invest in 50 Scollard?
Aside from owning a place in one of the most in-demand, luxurious parts of the city, Yorkville is a great investment from a growth perspective alone. In fact, the Yorkville population is projected to increase 13.3 per cent between 2017 and 2022 – more than double the average for the City of Toronto’s projected growth of 6.6 per cent. With limited housing options, 50 Scollard would be a fantastic place to own – whether you intend to live in it or rent it out.
Ultimately, living or owning a place at 50 Scollard is a statement. Everything about the development says, “I’ve made it.” If you have a spot at 50 Scollard, you will be living in one of the most luxurious condominium developments in the city.
Stage of Development
The 50 Scollard Condos Toronto development is currently in the pre-construction phase with only a small number of units for sale.
Looking for an In?
Interested in 50 Scollard? Currently only a small number of units are for sale through VIP real estate agents. If you want to be among the lucky few, give me a shout via the form below.
If purchasing with me, I can also secure you the following deposit structure:
- $25K upon signing
- Balance to 5 per cent in 30 days (1 month)
- 5 per cent in 90 days (3 months)
- 5 per cent in 180 days (6 months)
- 5 per cent in 720 days (approximately 2 years)
- 1 per cent on occupancy
This structure is much more manageable than the balance to 10 per cent required within 45 days (a month and a half).
Furthermore, for suites less than 2,000 square foot, early buyers can earn 5 per cent interest on deposits after the initial 5 per cent deposit and common expenses free for two years.
Any more questions or thoughts about this development? Give me a shout or leave it in the comments below.