On the map: A rental building that would impress the neighbours

Article content

A new luxury rental building at the corner of Lonsdale Avenue and Avenue Road promises a “right-sizing” option for the well-heeled Forest Hill set. 2Fifteen is a 20-storey 133-unit purpose-built rental project that sits at the gateway to one of Toronto’s wealthiest neighbourhoods, and which offers a host of services and amenities more reminiscent of a boutique hotel than a rental building.

Advertisement 2

Article content

“A site like this doesn’t come along every day,” says DBS Developments CEO Bryan Levy. DBS acquired the site in 2019, before they had decided if it would be a condo or rental property.

Article content

“We could have made more money up front with a condo,” Levy says, “but we’re experienced rental developers, and choosing rental felt like an opportunity to capture something missing in the market.”

Suites
Wise Nadel-designed suites feature wide plank or herringbone hardwood floors, built-in fireplaces and Crestron AV systems. Photo by DBS Developments photograph

Levy is referring to the dearth of upscale rental properties in the area: buildings with large suites and high-end finishes, and the amenities and services to match. Basically, a rental building that would impress the neighbours.

And those neighbours are not so easily impressed. For Torontonians, Forest Hill suggests Tudor mansions, English manors and garden parties hosted by Hillary and Galen Weston. The average home price is $2.4 million, while the average household income tops $100,000. According to CMHC data, it’s $473,219 in Forest Hill South.

“We want to complement and improve the neighbourhood where we’re renting,” Levy says.

That started with selecting premium materials for the build, including an elegant long, narrow handmade brick known as the Kolumba, made only in Denmark by Petersen Tegl. At about $10 a piece, the 211,000 bricks that make up the exterior of the building’s base made a considerable dent in the budget, but one Levy thinks was worth it. It’s the first high-rise in Canada constructed from the material, and was designed by the architecture firm Diamond Schmitt.

Advertisement 3

Article content

Kitchen
Kitchens have Gaggenau appliances and Kohler fixtures. Photo by DBS Developments photograph

Inside, Wise Nadel-designed suites feature Gaggenau appliances, wide plank or herringbone hardwood floors, Kohler fixtures, custom closet millwork, built-in fireplaces and Crestron AV systems, and a host of other high-end design features.

The emphasis on imported materials made building during the COVID-19 pandemic a headache — “we were really hit by supply-chain issues” — but Levy believes the final result has been worth it.

“When you touch the solid-core doors, the stone countertops, it doesn’t feel like a condo or typical apartment building — it feels like a home,” says Levy.

2Fifteen opened for occupancy in Fall 2022, and about a quarter of its inventory is currently available, thought Levy expects those spots to fill by the end of the year.

The size, look and feel are designed to appeal to well-to-do empty nesters accustomed to a certain quality, and who can afford it but are ready to downsize.

Facilitating this lifestyle is the building’s “curated management,” which provides residents with a range of services: The doorman will bring up your groceries or takeout, the in-house detailing service keeps your car spotless, there’s free yoga on the terrace in the summer, wine tastings and cooking demonstrations year-round, personal trainers at the ready, and a shuttle to ferry residents to and from nearby Yorkville on Friday and Saturday nights.

Advertisement 4

Article content

Suite
The size and feel of the suites are designed to appeal to well-to-do empty nesters who can afford quality but are ready to downsize. Photo by DBS Developments photograph

“The Faema coffee machine in the lobby has become a real social hot spot,” says Levy of the complimentary cappuccinos and lattes on offer every morning in the downstairs party room. “It’s wonderful to see community being built.”

Of course, all of this comes at a price. Two-bedroom suites start at $6,540 per month; three bedrooms at $14,990. If almost $5,000 a bedroom seems like a lot, Levy says, consider the current interest rates, condo fees, down-payments and upkeep expenses of luxury condo ownership.

“When people compare the finances, rental can make a lot of sense right now, and people are starting to see that,” Levy says.

And, let’s not forget, this is Forest Hill, she adds: “$10- or $15-million homes — those are your neighbours,” says Levy.

Two-bedroom suites start at $6,540 per month; three bedrooms at $14,990. For more information, visit 2fifteen.ca.

Three things

The classic upscale Italian restaurant Scaramouche is a favourite among locals and celebs, a long walk or short drive south of 2Fifteen. Come for the foie gras terrine and stay for the still-popular coconut cream pie. 1 Benvenuto Pl.

Founded in 1829 and modelled after Britain’s Eton College, grads of nearby Upper Canada College have included six lieutenant governors, four premiers, seven chief justices and four Toronto mayors. 200 Lonsdale Rd.

The Kay Gardner Beltline Trail is a tree-lined oasis just a couple of blocks north. The quiet strip of greenery stretches diagonally across the Forest Hill neighbourhood for 4.5 kilometres. Stroll or bike the entire stretch of this former rail path or pack sandwiches and grab a spot at one of the many shaded tables that dot the well-used trail.

Article content