As Toronto continues to grapple with a need for more housing — particularly rental housing — developer Fitzrovia announced the launch of two rental towers, bringing hundreds of new units to the market.
Located at 20 Mutual Street in downtown Toronto, near the intersection of Queen and Church Streets, the 27- and 28-storey sister towers, dubbed Elm and Ledbury, contain a total of 542 units, ranging from studios to three-bedroom suites.
Residents are expected to start moving in this spring, and although rent prices aren't exactly what would be called affordable — the cheapest unit, a 367-sq.ft studio, is listed for $2,300 per month — the buildings are packed with luxury amenities typically reserved for condo buildings. The units themselves come equipped with features like waterfall island countertops with an integrated wine fridge, meanwhile the buildings have rooftop pools, a commercial-grade gym, a yoga studio, a Formula 1 race car simulator, a cinema room, a ski simulator, and a wine dispensary.
Fitzrovia
For the sports fans, there's a double-height professional Raptors basketball court, complete with a curated display of Air Jordan sneakers, and for the four-legged family members, there's a pet spa and outdoor rooftop dog run. And who even needs a TTC pass when there are on-site discounted BMW rentals from Enterprise?
"Residents of Elm and Ledbury can anticipate a service level inspired by the world's finest hotels," said Adrian Rocca, CEO and Founder of Fitzrovia. "Elm and Ledbury provide an elevated yet refined rental option that is unique to Toronto."
Outside at ground level, there's a retail plaza known as "The Mews," designed by the renowned Claude Cormier + Associés — the visionaries behind iconic Toronto outdoor spaces like Berczy Park and Love Park. One of those retail occupants will be café and bar 10 DEAN, with new renters being offered a move-in incentive in the form of a $250 gift card to the local spot.
Move-in incentives have been making somewhat of a comeback in recent months as the rental market cools off from the red hot streak seen earlier in 2023. To that end, Fitzrovia is also offering one month of free rent and free in-suite Wi-Fi.
Fitzrovia
But what might be the most enticing feature, particularly for families with young children, is that the complex will be home to Bloomsbury Academy, a Montessori-inspired education centre for kids 18 months to 6 years old. Residents of the buildings will be given a tuition discount.
"We take pride in the extensive array of amenities, comforts, and food and beverage options available at Elm and Ledbury," Rocca said.
