From a build quality, materials quality and styling standpoint, it has condos beat by a mile. And not just your garden-variety Toronto condos either...this has even top-of-the-line buildings like 1 St Thomas beat as well (unit finishes notwithstanding of course).
You don't see this very often, because from an investment point of view, office buildings are far more lucrative than condo buildings. In fact, I'm surprised this building even became a condo conversion in the first place...would have made a fine midtown head office. But I suppose the additional development potential had a lot to do with it.
It's too bad this developer hasn't gotten into the spirit of this building...just look at the crappy Leons furniture they stuck in that fantastic mid-century lobby/temporary sales office. It's very telling.
What a shame. I wasn't aware of that 2nd tower until now. For what is considered to be an established neighbourhood by most, there's a fair bit of new construction between Yonge and the St. Clair West station area. This stretch of St. Clair always had a sort of Park Avenue feel to me. A fairly wide, mature street that's mostly higher end high rise, with some office buildings thrown in the mix as well, but not all that much retail which keeps it fairly quiet at night. As a landlord of a place in the area, this is part of what drew me to the neighbourhood in the first place (as well as the subway access) and I really hope that isn't gone once this all is said and done.
The second tower was approved back in April 2012 at 26 storeys, 82.3 metres or 270 feet high, so that it lines up better with the top of the existing tower's last setback before the penthouse section. We've seen zero marketing for the second however, so I'm not sure what this is now, unless Camrost-Felcorp/Goldfarb is going forward with it as a rental building.
There are approved plans for 10 townhomes and 1 tower south of Imperial Plaza, which will be the third phase there. (There's also Blue Diamond at Imperial Plaza, the second phase, which is being built where the words Deer Park United Church appear.)
Some of the area under where the third phase will be had to be built to provide parking and servicing facilities for the first phase. I am not sure how much will be built on top of that at this point. Maybe just enough to cap it all for a while (or maybe some of the towns have been selling as part of the Blue Diamond phase? Not sure.) to seal it off until the next phase goes ahead.