By Susan Kelly
It just might be the elegant condo of your dreams in one of Toronto’s most coveted areas, complete with stunning views, concierge service, and top-tier amenities. Except that instead of being locked into mortgage payments, you write rent cheques. “Interest has been brisk since the September launch of our 36 Brentcliffe Luxury Rental project in Leaside,” says Christopher Castellano, vice president, sales and marketing for the developer, Camrost Felcorp. “It is what is known as a purpose-built rental (PBR), a concept that is enjoying a resurgence.” Simply put, PBR buildings are developed to rent each unit rather than selling individual ones. PricewaterhouseCoopers Canada, in its 2023 real estate trend outlook, noted that “demand (for PBRs) will be especially strong as a result of trends in the ownership market.”
One advantage is long-term stability, which is hot-wired into the concept for Camrost Felcorp, a developer of high-rise condo buildings and residential communities. Renters can rest assured that the new landlord, which has been in business for 48 years, includes PBRs in an intentional and considered way. In contrast, a private condo owner may, at whim, legally evict tenants to renovate or have a family member move in. And what if your neighbour starts doing short-term rentals to people who like to party? “None of that could happen in the building,” Castellano says. “All tenants go through a screening process, and we’re looking for people who want to stay long-term and make it a home.”
Anyone renting one of the 262 spacious one- and two-bedroom residences has access to luxury condo-quality services and amenities, such as round-the-clock concierge service. All staff will be handpicked by Forest Hill Kipling, a provider of bespoke concierge and security for upscale condo projects. Supplementing the extensive team is a full-time community manager. Submitting any repair or other request has been streamlined; residents can use an online management system to do so. “And because you’re dealing with professionals, if your dishwasher breaks down, you’ll see a maintenance person right away,” Castellano says.
“RESIDENCES HAVE ACCESS TO LUXURY CONDO-QUALITY SERVICES AND AMENITIES, SUCH AS ROUND-THE-CLOCK CONCIERGE SERVICE”
36 Brentcliffe is located in Leaside, a sought-after neighbourhood that, in the early 1900s, was designed with greenspace preservation in mind. And it’s remained an urban oasis with small-town charm, parks, and sports facilities. It offers municipal amenities, and there’s a cluster of shops, restaurants, and cafés a short stroll away on a section of Bayview Avenue called “the strip.” If things get too laidback, a three-minute walk takes residents to the new Eglinton LRT station, and on to Toronto’s cultural scene and nightlife. A PBR in this location should add to the appeal for anyone looking to “smart size,” Castellano says. This buzz phrase means finding the right-sized property for your needs at any stage of life, which might include recently paired young professionals. Downsizers may also want to embrace the chance to live in the community that 36 Brentcliffe provides, Castellano says. “They can enjoy the best of two worlds, a village vibe outside, and inside be part of the master-planned community that is Upper East Village.”
Camrost Felcorp’s planned community consists of three buildings. 36 Brentcliffe is part of the Upper East Village master-planned community that will include two other towers and a purpose-built park. They are all linked by a common design approach by IBI Architects and MAED Collective, an all-female interior-design firm. This ensures a shared aesthetic for the suites and common areas. Spaces will be laid out in a way that encourages mingling among neighbours—at the indoor pool, sundeck, gym, yoga studio, or host of other shared amenities. “There is also a beautiful public-access pedestrian mews that links the buildings,” Castellano says. “Just one of the many features designed to encourage community and connection within an exclusive and luxurious setting.”
