It's adjacent to the Annex, which is a big plus. In real estate, there are always areas that are undesirable today but will become desirable tomorrow. If you're starting off without a lot of money, say as a young person without money from parents, it's good to look for buying opportunities in these areas. They have some factor that will make them desirable in the future like proximity to the downtown core, proximity to other desirable areas and places, well built and spacious homes, etc.
Houses that are now out of reach for many people in areas like Cabbagetown were once undesirable. Now people pay millions. It's something to consider if the economic alternative is a property in a seemingly more desirable but mundane area like a cookie-cutter 905 neighbourhood. I don't even think the value quotient will be particularly good with this building since it's so clearly close to the streets associated with the Annex.
You're spot on about the value quotient (or lack thereof). This is not a run-of-the-mill condo. I looked into purchasing here over the weekend, and while some of the units look spectacular, the prices stunned me. The least expensive one bedroom units are ~$500,000, and they all face directly out onto the tracks. Nearly all the two bedroom units are over $850,000. And most of the units are huge (e.g. 1400+ sqft) and cost between $1.5-3 million. Despite its location on a sleepy part of Dupont, this is being developed as a luxury boutique building akin to something you'd see in Yorkville.
Bianca is one of a new wave of projects from Tridel with the prolific Toronto developer is putting an increased emphasis on architectural design. While Tridel has garnered a sterling reputation for customer satisfaction over the years, the company's embrace of more cutting-edge architecture is more recent, and it continues here with the new 9-storey, Teeple Architects-designed Bianca coming to Dupont Street.