Tridel and First Capital partner on Edenbridge
“We started a joint venture partnership with them a number of years back because they wanted to revitalize the overall plaza and introduce some condominiums to the area,” Tridel marketing vice-president Samson Fung told RENX.
“The rest of the plaza will go through future development at some point, but we’re not quite clear yet what that will be.”
Edenbridge suite mix and amenities
Edenbridge will be comprised of 24 two-storey garden townhomes at the base of a nine-storey building with 158 suites. Seventy per cent of the suites will be two bedrooms and larger, with a smaller amount of one-bedroom and one-bedroom plus den units. Suite sizes range from 950 to 2,300 square feet, with an average of just under 1,200 square feet. They’re priced from the $900,000s to $3 million.
“We’ve largely focused on larger suites since it’s a luxury boutique type of building,” said Fung.
Edenbridge was designed by Kirkor Architects, which Tridel has previously worked with on projects including the Old Mill Community and Hullmark Centre in Toronto. II By IV Design is overseeing interiors, while Forrec is the landscape architect.
Edenbridge’s amenities will include a British-inspired courtyard, a party room, a fitness centre, a swimming pool and whirlpool, and an eighth-floor outdoor terrace with barbecues and a lounge.
Anticipated Edenbridge timelines
Edenbridge was launched in July with the opening of a sales centre at Humbertown Shopping Centre, which is at 270 The Kingsway.
“The primary people that we’ve seen live in the neighbourhood already and know and love The Kingsway,” said Fung. “They live in a larger home right now and are looking to smart-size into a condominium.
“With some of the suites being in the 1,500-square-foot range, it will be an easier transition for them from a larger home to the new lifestyle that they’re looking for.”
If sales go as well as planned, Fung anticipates construction of Edenbridge to begin in late 2020 and occupancy to take place in early 2024.
“Because it’s such a boutique building, there’s more attention that we have to pay to all of the finishes,” said Fung. “Even though it’s a short building, there are a lot of details that we have to put into it.”
Retail component of Edenbridge
First Capital is looking after all of the retail components of the first two buildings at Tridel’s Bayside buildings on Toronto’s waterfront. It will do the same for the approximately 8,000 square feet of ground-floor retail space at Edenbridge. Current plans are to divide it into three units.
“We’re looking at a couple of different people, including a jewelry store and a bank, but that’s subject to change,” said Fung. “The retail world typically likes to decide a little bit closer to the occupancy date.”
Tridel has built more than 80,000 homes over eight decades. Tridel’s group of companies is comprised of Deltera, Del Condominium Rentals Inc., Delcare, Del Realty, DelSuites, Del Management Solutions Property Management, Del Property Management and Delmanor.
First Capital develops, owns and operates urban retail properties. Its portfolio includes 165 Canadian properties, with 25.3 million square feet of gross leasable area, valued at $9.9 billion.