CityPlace: a first home in the heart of downtown

CityPlace is the tower neighbourhood south of Front Street between Spadina Avenue and Bathurst Street, built around Canoe Landing Park, its community centre and schools. You are a walk from Union Station, the waterfront, King West's restaurants and the Rogers Centre. With so many similar units, buyers here usually have plenty to compare.

You may have heard the knocks: investor-heavy towers, small suites, sameness. Ownership here is still investor-heavy, and some of the rest has changed, but unit selection matters a great deal. I look at the reserve fund against the building's age, where fees have been heading, and how many units are rented. I also check each building's short-term rental policy, since many buildings here allow short-term rentals, and how the board manages it. Finally, I look at how efficiently the layout uses its space. A well-chosen unit in a well-run building can be a sound first purchase. An average unit at an average price will feel the competition around it when you sell.