TORONTO — Menkes Developments Ltd. has announced that industry sales data shows its Sugar Wharf development now under construction at Toronto’s waterfront was the best-selling condominium project in Canada in 2018.
Located in the East Bayfront at the northeast corner of Queens Quay East and Freeland Street, Sugar Wharf will be the largest mixed-use development on the Toronto waterfront, home to 7,500 residents and 4,000 office workers, noted a recent statement.
Sugar Wharf will extend over 11.5 acres and will include luxury residences, offices, restaurants and shops and Toronto’s first vertically integrated school.
The sales status, reflecting the most units sold last year, came from data recently released by Altus Group.
The residential component of the community, designed by architectsAlliance, will include five condominium towers, varying in height from 64 to 90 storeys, and a mid-rise rental building. In summer 2018, Menkes launched the first two residential towers and sold 1,241 condo units out of a total of 1,463 units, the release noted.
The Sugar Wharf community officially broke ground in January of last year with the first phase of the project, 100 Queens Quay East, a 25-storey office tower, featuring approximately 690,000 square feet of Class AAA space.
In addition to the new office building, the community will include approximately 300,000 square feet of multi-level commercial retail space, including the new flagship LCBO store. Expected occupancy for the office tower is spring 2021.
Development is underway at Sugar Wharf Residences. Excavation at the site has progressed to over 40 feet below grade. Completion of the towers is slated for 2022.