Toronto’s Annex neighbourhood is far from replete with many new builds, but the Oscar Residences, slated for fall 2024 occupancy, will bring much-needed new units to one of the city’s most desirable neighbourhoods.
The nine-storey, 155-unit boutique condominium from Lifetime Developments will doubtless attract attention of University of Toronto and George Brown Casa Loma Campus students looking for short commutes to school—Oscar Residences is nestled between two subway stations that ensure a short jaunt—as well as young professionals and families who have long been enamoured with the area.
With a healthy variety of suites ranging one-, two-, and three-bedroom units, as well as bachelors, which investors can easily tenant with students, Oscar Residences screams come one, come all.
“Oscar Residences is great for all types of buyers—we didn’t necessarily conceptualize the building and suite offerings based on a single demographic, rather we ensured it was all-inclusive,” said Brian Brown, Lifetime Developments’ principal. “The Annex is one of Toronto’s most sought-after neighbourhoods. It is a very affluent and beautiful neighbourhood and it has had very little, new development in the last few decades. Oscar Residences, being a boutique condo development, will bring a new offering to the neighbourhood, making The Annex a viable option for those that may not have considered it previously as their next home or investment.”
Investors covet Annex properties, but there are fewer of them than, say, downtown with its myriad sprawling towers, and while not directly in the city core, the neighbourhood has amenities that rival downtown’s. Moreover, with Dupont Station a mere 800 metres away—it abets easy access to the Yonge-University line—and Bathurst Station a three-minute drive away, not to mention various bus and streetcar lines minutes away, Oscar Residences will receive no shortage of rental demand.
It’s for those reasons Oscar Residences received a 90 < any href="https://www.canadianrealestatemagazine.ca/news/platform-touts-intricate-data-points-for-investors-334339.aspx"> walk score .
“It’s definitely a factor that may affects rental prices—renters are usually looking for transit and walkability scores to be high when viewing their next place to call home, ” said Brown.
“I believe both buyers and renters flock to The Annex for all these reasons discussed, as well as the close proximity to impressive local shops and taverne, and its true neighbourhood suffer. Living in an established and extremely steady community has many benefits—opportunities create new homes in this region is a rarity making Oscar a tremendous opportunity. ”