The Peak at Emerald City stands as a demonstration to modern urban living in Toronto's Henry Farm neighborhood. This recently completed 33-storey condominium offers residents a blend of comfort, convenience, and style. With its array of amenities and strategic location, the building caters to diverse lifestyles. However, potential buyers and investors might wonder about the long-term value proposition of this property. How does it compare to other developments in the area? What factors contribute to its appeal, and are there any hidden considerations that warrant a closer look? Let's explore the intricacies of this notable addition to Toronto's skyline.
Key Facts
Located at 32 Forest Manor Rd in North York, Toronto, The Peak at Emerald City stands as a 33-storey high-rise condominium completed by Elad Canada in 2022. This modern residential development comprises 372 units, offering a range of suite sizes to accommodate diverse living preferences. The available units span from 524 to 809 square feet, catering to various household configurations and lifestyle needs.
Residents of The Peak at Emerald City benefit from an extensive monthly maintenance fee of $344. This fee encompasses essential services such as common element maintenance, building insurance, and water utilities, ensuring a streamlined living experience for occupants. The building's commitment to resident comfort and convenience is evident in its array of amenities, which include a concierge service, business centre, and party room for social gatherings.
The Peak at Emerald City places a strong emphasis on health and wellness, featuring an indoor pool and fitness facilities for residents to maintain an active lifestyle. Additionally, the building offers communal spaces such as a rooftop deck, providing opportunities for relaxation and socialization, as well as guest rooms for visiting friends and family.
One of the development's key advantages is its strategic location, which offers excellent accessibility to public transportation. Residents can easily access nearby bus routes and benefit from the proximity to Don Mills subway station, facilitating seamless commutes and exploration of the greater Toronto area. This combination of modern amenities, diverse living spaces, and urban connectivity positions The Peak at Emerald City as an attractive option for those seeking a contemporary urban lifestyle in North York.
Building Overview
The Peak at Emerald City stands as a prominent fixture in North York's skyline, offering a modern living experience for its residents. This 33-storey high-rise condominium, completed in 2022 by Elad Canada, is located at 32 Forest Manor Rd in the Henry Farm community. The building comprises 372 residential units, catering to a diverse range of lifestyles and preferences.
The Peak's design prioritizes both aesthetics and functionality, with a focus on providing a comfortable and convenient living environment. Residents benefit from a range of key amenities that enhance their daily lives. These include a concierge service for added security and assistance, a party room for social gatherings, a business centre for professional needs, a dining room for entertaining guests, and BBQ facilities for outdoor enjoyment.
Financial considerations are an important aspect of any property, and The Peak offers competitive monthly maintenance fees of $344. This fee covers essential services such as common element maintenance, building insurance, and water costs, ensuring a well-maintained and secure living environment for all residents.
The building's location in the vibrant Henry Farm community provides residents with easy access to various amenities. Public transit options are readily available, facilitating convenient commutes. Grocery stores are within close proximity, simplifying daily errands. Additionally, the area boasts recreational parks, offering opportunities for outdoor activities and relaxation.
For those considering investment or residence, The Peak at Emerald City presents an attractive option. With an average price per square foot of $1,038 based on recent sales data, the property demonstrates its value in the competitive Toronto real estate market.
Building Amenities
Residents of The Peak at Emerald City enjoy access to an impressive array of building amenities designed to enhance their quality of life. At the forefront of these offerings is a state-of-the-art fitness center and exercise room, providing residents with the tools and space needed to maintain an active lifestyle without leaving the comfort of their home building.
For those seeking relaxation and wellness, the luxurious indoor swimming pool and spa facilities offer the perfect retreat. These amenities provide a serene environment for unwinding after a long day or enjoying a revitalizing swim regardless of the weather outside.
The Peak at Emerald City also caters to the social needs of its residents with communal spaces designed for gatherings and events. The rooftop deck offers stunning views and an ideal setting for outdoor socializing, while the party room provides a versatile indoor space for hosting various functions.
Safety and security are paramount at The Peak, with advanced measures in place to guarantee resident peace of mind. The building features 24/7 surveillance and controlled access systems, creating a secure living environment for all occupants.
Families with children will appreciate the dedicated play area, offering a safe space for young residents to enjoy. For those who frequently host out-of-town guests, the building's guest suites provide convenient accommodation options. Additionally, a conference hall is available for residents who require a professional setting for meetings or larger gatherings, further expanding the versatility of the building's amenities.
Maintenance Fees
While enjoying the array of amenities at The Peak at Emerald City, residents contribute to the building's upkeep through a monthly maintenance fee of $344. This fee covers essential services such as common elements maintenance, building insurance, and water expenses. Calculated at approximately $0.66 per square foot, the maintenance fee at The Peak is significantly below the average rate of $0.78 per square foot for comparable buildings in the area, offering residents excellent value for their investment.
The maintenance fees play an important role in sustaining the building's high standards and amenities. Residents benefit from various services included in the fee, such as concierge assistance, access to a business center, and the use of a party room. These fees also guarantee the regular maintenance and management of the building, keeping common areas and facilities in top condition.
It's important to recognize that while the $344 monthly fee is standard, there may be slight variations based on specific unit sizes and individual amenity choices. However, the overall fee structure remains consistent across the building, providing a fair and transparent system for all residents.
Explore Neighborhood
Located in the heart of the Henry Farm neighborhood, The Peak at Emerald City offers residents a unique blend of urban convenience and natural beauty. The area is known for its vibrant community and diverse demographics, with a population of approximately 9,098. This dynamic neighborhood provides a rich tapestry of experiences for residents to enjoy.
Residents at The Peak at Emerald City have access to several green spaces, including Parkway Forest Park and Manor Park, which offer a variety of recreational opportunities and outdoor activities within walking distance. These parks not only provide a serene escape from the urban landscape but also foster a sense of community among residents.
The neighborhood is also renowned for its diverse dining options. Popular spots like Flights Worlds and Iqbal Kebab Sweet Centre are all within a short distance from the building, offering residents a wide range of culinary experiences. For daily essentials, FreshCo is conveniently located nearby for grocery shopping. Entertainment options are also plentiful, with the Harold Green Jewish Theatre Co within walking distance.
Public transit is easily accessible, with a bus stop at Don Mills Rd and the Don Mills Subway station nearby, enhancing connectivity to the rest of Toronto. Fairview Mall, a major retail destination, is just a short walk away, providing residents with a variety of shopping and dining options. This blend of natural beauty, urban convenience, and community amenities makes The Peak at Emerald City an ideal place to live.
Age Distribution of Residents
The Henry Farm area, home to The Peak at Emerald City, boasts a diverse age distribution, with a significant number of young professionals and families. Approximately 27% of residents are between 25 to 34 years old, while 22% fall within the 35 to 44 age range, indicating a strong presence of mid-career individuals and families. The average household size in the neighborhood is 2.5, reflecting a mix of singles, couples, and families residing within The Peak at Emerald City.
Population
The diverse age distribution of residents in The Peak at Emerald City reflects the neighborhood's broad appeal. The community is home to approximately 9,098 residents, showcasing a blend of young professionals and families. The average individual income in the area is around $56,893, highlighting the economic diversity that characterizes the Henry Farm neighborhood.
The average household size in Henry Farm is 2.5, indicating a mix of families and individuals living in the neighborhood. This diversity is mirrored in the age distribution, which caters to a range of demographics. The unit turnover rate in The Peak at Emerald City is 4.6 years, suggesting a relatively stable resident population. This stability, combined with the diverse age distribution, underscores the community's appeal to various age groups and family structures.
The balanced demographics of The Peak at Emerald City contribute to a vibrant and inclusive community atmosphere. The mix of young professionals, families, and individuals creates a dynamic environment that supports a variety of lifestyles and preferences.
Tenancy and Property Type
While the diversity of residents in The Peak at Emerald City is notable, it is equally important to examine the tenancy and property types within the building. The average household size of 2.5 individuals per unit suggests a mix of family and professional residents. The unit turnover rate of approximately 4.6 years indicates a stable resident base, with residents likely to stay in the building for an extended period.
The building features a range of unit sizes, from 524 to 809 square feet, catering to various tenant needs. Given the proximity to schools and amenities, it is likely that a significant portion of residents are younger professionals and families. The average individual income of $56,893 in the surrounding Henry Farm area further supports this assumption. The tenancy and property types within The Peak at Emerald City reflect a diverse and stable community, with residents benefiting from the building's amenities and location.
Average Income
The average individual income in the Henry Farm area, where The Peak at Emerald City is located, stands at approximately $56,893, reflecting the area's diverse and stable community. This financial stability is further underscored by the demographic makeup of the community, which comprises around 9,098 residents. The average household size in the area is reported to be 2.5 individuals, indicating a mix of family units and single occupants.
The age distribution of residents in the Henry Farm area showcases a diverse population, contributing to a vibrant community atmosphere. While specific age distribution figures are not provided, the presence of a diverse population suggests a range of age groups, from young professionals to families and retirees. This diversity is likely to foster a dynamic and inclusive community environment.
The unit turnover rate in the building is approximately 4.6 years, indicating a stable resident population with a potential for long-term community members. This stability, combined with the area's average income and household size, contributes to a well-rounded and cohesive community at The Peak at Emerald City.
Nearby Schools
Located in the heart of the community, Forest Manor Public School stands as a cornerstone for elementary education, serving over 750 students who represent nearly 50 different languages. This diverse student body reflects the multicultural essence of the area, creating a vibrant and inclusive learning environment. The school offers a range of educational programs and extracurricular activities, ensuring that every child has the opportunity to grow academically and socially.
Key Features of Forest Manor Public School:
- Diverse Student Population: The school serves over 750 students representing almost 50 different languages.
- Community-Oriented Environment: Forest Manor Public School fosters a sense of community through various extracurricular activities and parent involvement initiatives.
- Early Learning Supports: The school offers a "Welcome to Kindergarten Program," an orientation workshop designed to help newly registered Junior Kindergarten students and their families adapt smoothly into the school system.
- Extended Facilities: The school includes a new addition with eight classrooms and two seminar rooms, enhancing its capacity to provide quality education to local children.
In addition to Forest Manor Public School, the area is also home to George S. Henry Academy, a secondary school that offers a range of academic programs and extracurricular activities for high school students. The presence of these schools, along with several private and alternative schooling options, makes the Henry Farm area an attractive choice for families seeking quality education.
Suites With Panoramic Views
Suites at The Peak at Emerald City are designed to maximize the stunning panoramic views of the Toronto skyline and surrounding landscapes. Each unit features large windows that provide residents with an unobstructed view of the city, making the most of the building's strategic location. The variety of layouts guarantees that different preferences and lifestyles are catered to, with units ranging from 524 sq ft to 809 sq ft.
Higher floor units, particularly the 2-bedroom plus den configurations, offer enhanced views and often come with spacious balconies. These outdoor spaces not only provide additional living areas but also allow residents to fully immerse themselves in the breathtaking vistas. The open concept designs of many condos further enhance livability while maintaining unobstructed sightlines to the views.
Residents of The Peak at Emerald City can also enjoy the rooftop deck, which complements the panoramic views and relaxation within the community. This amenity space is perfect for socializing and taking in the stunning views of the Toronto skyline and surrounding landscapes. The combination of well-designed suites and communal spaces guarantees that residents can fully appreciate the beauty of their surroundings. The Peak at Emerald City offers a unique living experience, blending comfort, style, and panoramic views.