News   Dec 06, 2021
 218     0 
News   Dec 06, 2021
 419     0 
News   Dec 03, 2021
 2.8K     1 

Who lives in Manulife Centre Apartments?

neuhaus

Senior Member
Member Bio
Joined
May 18, 2010
Messages
1,447
Reaction score
604
Location
Toronto
A long time ago I was looking at places there for a friend.
The units are indeed very large and the views are killer, but it is a very old dated building (low ceilings, no balconies, high window sills, very divided layout, closed in kitchens, etc.).
There were a lot of seniors living there, as well as younger people (which the unit was a hand me down, or inhereted from their parents).
Many of these units needs a ton of work and money to update EVERYTHING. For that kind of work in an aged building, like Buildup mentioned, you're way better off in one of the many newer condos nearby.

It is definitely a long standing fixture in Toronto and people are still paying insane rent for them -- to each their own.
 

Bayer

Senior Member
Member Bio
Joined
Mar 14, 2008
Messages
1,421
Reaction score
1,049
I will be moving from ROPC to the Manulife Centre in a couple of months. Indeed the apartments were updated; the kitchen in mine was opened up, which allowed a large island to be installed. It has PTAC units, which will give me better climate control. It also has eight elevators, more than usual considering the size of the building, and a big plus for me after 10 years of having to deal with constant elevator breakdowns. It is not cheap, but security of tenure in a well-managed, rent-controlled building in a superior location will be worth it in the long run if the rental market remains tight.
 

mjl08

Senior Member
Member Bio
Joined
Apr 12, 2008
Messages
3,560
Reaction score
1,736
Location
Toronto
I got the sense there were a lot of 'downsizing' or widowed Rosedalers living at 44 Charles.
 

fiendishlibrarian

Active Member
Member Bio
Joined
Apr 23, 2007
Messages
767
Reaction score
226
Correct. Not to mention long-time, "original" tenants who've been there since the building was constructed in 1974. I've lived there for six years now and the demographic skews quite old. Not uncommon for me to be the youngest person in the elevator and I'm 42. I have no intention of moving unless I need to: it's an extremely well-run and maintained building, with numerous conveniences available indoors (LCBO, Bloor Street Market, Rexall, subway, The Bay, etc.) and walking distance to work (financial district), the Annex, U of T, etc. Yes, the remodeling that is beginning soon will be a pain but even so the benefits far outweigh the negatives.
 

Bayer

Senior Member
Member Bio
Joined
Mar 14, 2008
Messages
1,421
Reaction score
1,049
Correct. Not to mention long-time, "original" tenants who've been there since the building was constructed in 1974. I've lived there for six years now and the demographic skews quite old. Not uncommon for me to be the youngest person in the elevator and I'm 42. I have no intention of moving unless I need to: it's an extremely well-run and maintained building, with numerous conveniences available indoors (LCBO, Bloor Street Market, Rexall, subway, The Bay, etc.) and walking distance to work (financial district), the Annex, U of T, etc. Yes, the remodeling that is beginning soon will be a pain but even so the benefits far outweigh the negatives.

Those conveniences are invaluable - ROCP, which has indoor access to College Park, has a similar advantage. Too bad I am leaving just as their remodeling is about to be finished, only to face another two-year construction site at Manulife!
 

muller877

Senior Member
Member Bio
Joined
Jun 14, 2011
Messages
1,688
Reaction score
756
A long time ago I was looking at places there for a friend.
The units are indeed very large and the views are killer, but it is a very old dated building (low ceilings, no balconies, high window sills, very divided layout, closed in kitchens, etc.).
There were a lot of seniors living there, as well as younger people (which the unit was a hand me down, or inhereted from their parents).
Many of these units needs a ton of work and money to update EVERYTHING. For that kind of work in an aged building, like Buildup mentioned, you're way better off in one of the many newer condos nearby.

It is definitely a long standing fixture in Toronto and people are still paying insane rent for them -- to each their own.

The older owners have the fortune of rent control. Of course as a landlord why would you renovate a living unit when all you can get is a 2% increase. Instead keep it the old furnishings until the person leaves and you can jack up the rent 25-50%.
 

Bayer

Senior Member
Member Bio
Joined
Mar 14, 2008
Messages
1,421
Reaction score
1,049
The older owners have the fortune of rent control. Of course as a landlord why would you renovate a living unit when all you can get is a 2% increase. Instead keep it the old furnishings until the person leaves and you can jack up the rent 25-50%.

At least rent control is reestablished when a new tenant comes in, and Manulife Centre is asking for market price. The kitchen is modern, the appliances are better than those in the 10-year old condo I am about to vacate - which is being advertised at a 33% higher rent than what I'm paying now.
 

Top