Devron Developments has released results from a survey of Torontonians conducted among members of the Angus Reid Forum, showing that 90 per cent of respondents believe that the city needs better-built condos, and that 83 per cent agree that the city is starved for good architecture. Conducted in June 2023, the survey gathered insights on the sentiments of current and future homeowners towards the Toronto condo market and condominium developments’ contribution to the city’s skyline.
Alongside this new data, Devron is announcing their latest project: 101 Spadina – a 38-storey condominium tower located at the southeast corner of Spadina Avenue and Adelaide Street in Downtown Toronto.
101 Spadina aims to change the narrative of being ‘just another glass box’. Designed in partnership with Audax Architects, the tower is described as a contemporary art deco building that will exist in respectful harmony with the 100 year-old architectural buildings on Spadina Avenue, while having its own modern character. Incorporating a brick and stone facade that pays homage to the architectural heritage of Spadina Avenue, the building will feature large livable suites, comfort-focused building features, geothermal heating and cooling, a new 10,000 sq ft public park, and more.
As condos are getting smaller and smaller, Devron is focused on building livable, spacious suites with an emphasis on quality behind the aesthetics with its Building Sciences — hidden features that enhance the overall condo-living experience. From heightened sound insulation, to leak detection, and better lighting with pot lights in all suites, Devron is ensuring that homeowner’s comfort is top of mind.
Additional data from the survey suggested that Torontonians want to stay close to the city centre, but report lacking condos that are built with the quality and size to be called a long-term home:
- 52 per cent of Torontonians say they would consider purchasing a larger condo as their long-term home. Among those who do not currently own a condo in the GTA but plan to do so, 72 per cent would consider purchasing a larger condo as their long-term home.
- 56 per cent believe condos can be a long-term housing solution versus mostly transitional homes. This number jumps to 60 per cent when honing in on already-existing condo owners.
- According to over 60 per cent of respondents, condos must have ample storage and spacious living spaces as these are the main challenges Torontonians list when considering living in a condo.
- According to 56 per cent of respondents, condos can make a long-term home when it includes being close to services, access to amenities such as green space, and large spacious units.
“Toronto is an incredible city with an abundance of potential. However, condos, our fastest-growing and most sustainable housing option, do not often evoke much excitement or pride for many Torontonians. As a result, condos are seen by many as a temporary place to live. It pains me and makes me realize that we have a lot of work to do to help inspire people to feel that “condo” can be synonymous with “home” for people and families at all stages of life,” says Pouyan Safapour, President of Devron. “What is interesting with this challenge is that it is fairly unique to Canada. In most other major cities in the world, multi-family homes are not seen as transitionary housing. If we don’t overcome this major challenge, and rebuild consumer confidence in multifamily living in Toronto, people and families will continue to sprawl, it will become impossible for our infrastructures to serve people, and the city will lose its vibrancy. This is why we are passionate about creating condos that we feel Toronto deserves, and that Torontonians can be proud of. We want people to have options for multi-family homes that inspire them to stay and call downtown Toronto home. With our latest project, 101 Spadina, we hope to do just that.”
Sales for 101 Spadina are expected to launch sometime in 2024.
To learn more about the project, visit 101spadina.com