Monarch Group's Picasso Condominiums project has proven to be extremely popular on UrbanToronto for its unique design. Teeple Architects took the previous design of the former Gansevoort Hotel and translated it for the residential market, continuing their play on solids and voids with protruding volumes capped by lush green terraces. The project has been absorbed by Toronto's real estate market unsurprisingly, a hit amongst purchasers for the variety of floor plans and customizable layouts that Monarch and the Goldman Group are offering.

Rendering of podium at Picasso condominium - Artist concept. E.&O.E.

Picasso will occupy a unique site in the city — located right on Richmond Street it is in the heart of the evolving Entertainment District, but remains close to the financial core while simultaneously benefiting from unobstructed views over the residential neighbourhood surrounding Grange Park to the north.

North facade of Picasso looking south on Beverley, courtesy of Monarch, Goldman Groups

The tower will reach 39 storeys upon completion, with a total of 402 units and 131 parking spots. The developers submitted a re-zoning application for the site last month that was voted through successfully; most of the changes addressed the number of parking spaces, a by-product of the site being previously zoned for a hotel. A committee of adjustment meeting is being held tomorrow in order to address the change in irregular floorplates from the previous design, a change we don't foresee creating any headaches as the new design is noticeably simpler.

Upper floors and roof of Picasso condos, image courtesy of Monarch, Goldman Groups

We're excited to see construction begin on Picasso and even more excited to see the final product. To check out more renderings, head over to the dataBase listing below, or check out the associate real estate thread to see what purchasers and those interested in buying are talking about.