The first quarter of 2023 signals the start of recovery as condo sales in Toronto increase after slowing to a trickle at the end of 2022. As a result, the Toronto condo market is predicted to strengthen throughout 2023, with many new buildings on the way to completion.
Although interest rates remain high, the cost of a mortgage payment on a condo in Toronto is similar to renting. Consequently, this high cost leads many first-time home buyers to consider buying a condo. Furthermore, recent statistics from the Toronto Real Estate Board (TREB) show that prices in the Toronto condo market continue to decrease slightly. In addition, the average sale price is $726,664 in the first three months of 2023. This is a 10.3% decrease from the same time last year.
So, if you’re in the market for a Toronto condo, the question is where to start? There are so many neighbourhoods and condo builders in this famous market. So it can be hard to figure out what building, unit, and developer will best suit your needs and budget. To help, we’ve compiled a list of the 14 top condo developers in Toronto. We’ve also included a few of their new condo developments for inspiration.
Top Toronto Condo Developers
Minto
A household name throughout Canada for over 60 years, this family-run developer is known for excellent customer service and green-friendly designs (with plenty of awards to prove it).
Currently, Minto has two extraordinary residences on offer with their new condo developments in Toronto.
The award-winning 123 Portland took home top honours in architectural design at the 2020 Ontario Home Builders’ Association (OHBA) Awards of Distinction. You’ll love the classic Parisian design while living in the heart of the Fashion District.
Limited suites remain in The Saint, a building that has also won awards from the Canadian Home Builders’ Association. The amenities of this building include a salt meditation room, spa room, fitness room, rain chromotherapy room, a co-working space, party room and more.
Tridel
Tridel is known for building Toronto’s first-ever single-family home in 1927! Since then, Tridel has built its business around excellent customer service, high-quality buildings, and green-friendly, forward-thinking initiatives (they were one of the first Toronto condo builders to consider better spaces for single-women condo owners).
A massive builder in the condo and multi-residential market, Tridel currently has many unique condominium buildings in the Greater Toronto Area, and each complex offers something a little different. While all are built with top-quality materials, here are two new condo developments in Toronto with immediate occupancy.
The Bianca is located on Dupont Street just west of Spadina Avenue. This new boutique building merges dynamic architecture with stunning terraces to offer unit owners a selection of luxury suites. While the smallest suites are now sold out, there are still plenty of options. For example, one stunning two-bedroom unit boasts more than 1,300 square feet of space and is priced at just over $1.6 million.
Tridel’s Via Bloor project is a unique opportunity for anyone that wants to live in the city’s downtown core. Located near the prestigious Rosedale Ravine, units in this project range from 740 to 2,455 square feet.
Daniels Homes
One of the top developers in Toronto, Daniels Homes has been building homes for over five decades. In that time, this builder has become one of the largest and most awarded developers in Ontario. Incorporating both a modern and energy-efficient design, this builder is well-known for the variety of luxury amenities offered in each of its condominium communities. However, other initiatives are making it stand out in the building community.
Daniels proudly supports accessible design and offers an Accessibility Designed Program (ADP). This program builds homes for people using mobility devices and goes beyond the current Ontario Building Code requirements.
At present, these Toronto condo builders have 16 projects in Ontario and over half of these are in Toronto. Right now, the developer is taking registration for Daniels On Parliament: South Tower.
Currently for sale is the third phase of Daniels FirstHome™ Keelesdale. This building is part of a new kind of urban village featuring condo suites and townhomes.
Great Gulf
Known for cutting-edge techniques, Great Gulf is one of the top condo developers in Toronto. This company pushes the boundaries of the multi-residential market by offering some pretty incredible buildings—most of which are Toronto’s tallest buildings.
Great Gulf plans to grow within the next three to five years, with several buildings coming soon to Toronto. Their latest project includes Forma, a mixed-use development with two residential towers designed by world-renowned architect Frank Gehry. If you’re looking for something in the meantime, there are still penthouses for sale at the iconic One Bloor building.
Urban Capital
Despite being newer to the Toronto condo scene, Urban Capital has built a reputation for putting a lot of thought into developing communities. The developer’s best-known complex is the Camden Lofts in the city’s Fashion District. This developer built Toronto’s first-ever true micro-condo, Smart House. As a result, Urban Capital is quickly becoming one of the most awarded and hottest condo developers in Toronto.
One of their projects currently under construction in Toronto is changing the game. Reina is the first all-female designed, developed and managed residential development project in Canada. Reina will be located on one of Toronto’s great residential avenues – The Queensway.
Menkes
Menkes first cut its builders’ teeth with single-family homes. Still, over the last 60 years, Menkes has successfully integrated into the Toronto condo scene while expanding into industrial and commercial ventures throughout Ontario.
The developer is currently working on five condo builds in the GTA. We recommend keeping your eye on Sugar Wharf and Elektra. While each complex is built with environmentally sustainable materials, construction issues pop up occasionally.
Streetcar
Another developer new to the Toronto condo scene is StreetCar Developments. They’ve quickly made a name for themselves by developing niche, mid-rises and soft-lofts. This builder is responsible for renovating The Broadway Hotel, a reimagined and restored 156-year-old boutique hotel on trendy Queen West. Building unique, non-cookie-cutter condo spaces is their sweet spot, and they are currently working on Riverside Square, a mixed-use development in the East End.
Freed Developments
Did you know this condo developer is attributed with revitalizing the King Street West neighbourhood? When first coming into the real estate market, Freed Developments’ sole focus was on neighbourhood condo developments. Now, that focus is shifting a bit. These days the focus is on creating Canada’s first diversified lifestyle company—now known as Freedstyle. They currently have three residential projects in development in Toronto.
Camrost
Among the top Toronto condo developers, Camrost has been in the building industry for over 40 years. This builder creates landmark condominiums throughout the Toronto area. Featuring pristine craftsmanship and unique style, it’s no wonder why Camrost has won several awards for its architecture. This developer also ranks among the top condo developers in Toronto.
The Residences of Upper East Village is currently for sale in the coveted Leaside neighbourhood. These condos and townhomes are just steps to shops, restaurants, walking trails and more.
Lamb Development Corporation
Among the top condo developers in Toronto, Lamb Development Corporation finds great spaces in some of Toronto’s most unique areas. That is to say, this developer chooses their projects to be close to central urban hotspots while offering the most privacy and luxury possible. As a result, Lamb Developments has made a name for itself in the highly competitive Toronto condo scene.
To sum up, two upcoming complexes to watch out for are The Woodsworth and The Bread Company, both currently under construction.
Metropia
This privately held condo developer creates some of the city’s most iconic skyscraper condo buildings: Emerald Park on Bogart Avenue. In other words, this developer’s mission is to focus on urban renewal and design innovation. As a result, you’ll find a range of living options at an affordable price from this developer. With four buildings coming soon to Toronto, you can pick the best option for your lifestyle.
CentreCourt
CentreCourt‘s forte is creating condo developments that fit in and blend with their existing surroundings.
With nineteen buildings and over ten thousand units in Ontario, CentreCourt is one of Ontario’s fastest-growing companies. As a result, their most recent development in Toronto is the sought-after The Zen on King Street West, which opened in 2021. There are one and two-bedroom units ranging in size from 450 square feet to just over 750 square feet
Concord Pacific
Concord Pacific started in British Columbia but has since expanded to cities across North America and Europe. Consequently, they currently have three condo developments already built in Toronto, including the award-winning Concord Canada House on Toronto’s waterfront.
Zinc Developments
Being one of Toronto’s top awarded condo developers—they took home three BILD awards for a 60-storey building at 35 Wabash—it’s no wonder this builder is on our list! While their name isn’t as well known as others, Zinc Developments has built projects, from two-storey condo units to low-rise condos to modern and luxury units.
One of their specialties is creating boutique condominiums in repurposed buildings, such as the old St. Basil’s Catholic School at 36 Hazelton Avenue. Most importantly, they have several projects coming soon in the GTA!
Ready To Buy A Condo?
If you want to live in a busy downtown area like Toronto, a condo can offer amazing amenities, views, proximity to transit and more. While condos have monthly maintenance fees, you’ll be free from yard work and snow removal.
To sum up, that’s a wrap on this round-up of the top condo developers in Toronto with these award-winning developers.
