8 Wellesley Condos

8 Wellesley Condos, Toronto

At the corner of Yonge St and Wellesley St W, will be 8 Wellesley Condos – an iconic new condo in a sought after neighbourhood in the Toronto downtown core!

8 Wellesley Condos will feature 21,000sqft of amenities. Over two full floors, there will be a 6,000sqft 24-hour fitness centre, an outdoor dining lounge, study spaces, entertainment spaces, BBQs, co-working area, a lobby, and much more. 599 residential units are proposed, with a mix that includes studios, 1 bedrooms, 2 bedrooms and 3 bedroom units. 

The builders, CentreCourt, have been around for over a decade with a proven track record. The most active developers in the Greater Toronto Area, they have brought over 15 projects to market. BAZIS is a real estate developer that has been designing luxurious living spaces with the ultimate attention to detail. Developers of 1 Yorkville, BAZIS is a reckoning force in pronouncing the city’s landscape.

Yonge St is a rare and timeless investment asset that is unlike any other across the Greater Toronto Area. This vibrant neighbourhood has endless shopping options, world-class universities, a plethora of business centres and is the perfect choice for students and professionals who want to live in a sought after spot in Toronto. Living at 8 Wellesley, you’ll be able to step out everyday with endless opportunities and options. Wellesley station is literally right across the street, and Yonge and Bloor is just a few minutes’ walk away, providing instant access to the entire city. Ryerson University and the University of Toronto are within walking distance. Restaurants, shops and entertainment options are also endless in this bustling intersection.

Whether you are looking to call this place home, or looking to invest in, 8 Wellesley is the perfect option.




The process to buying pre-construction condos can be quite rushed. When you register with us for a project, we’ll reach out to you to get your specifics, so it’s good to know in advance the type of unit you’re looking for and your budget. If you register ahead of the sales launch and are serious about buying, we will get you to fill out a builder suite request worksheet.
We are unable to guarantee that the suite you request will be allocated to you and your agent. Many pre-construction sales launches are extremely competitive and fast-paced. To increase your odds of receiving an allocation it is best to be flexible on the type of suite, floor and exposure that you have requested. You are also in no way obligated to purchase the suite you’ve been allocated.
The deposit structure on pre-construction condos will vary from project to project but generally breaks down like this:

$5,000 on signing
balance to 5% in 30 days
5% in 60-90 days
5% in 120-270 days
5% on occupancy
Getting a lawyer, preferably one who is familiar with pre-construction contracts, is never a bad idea. We would encourage our clients to have a real estate lawyer review their Agreement of Purchase and Sale during the Cooling Off period. If you need help finding a lawyer, we can introduce you to our lawyer who handles many of our pre-construction clients.
On closing, which is three to four years after signing, you will need to pay closing costs. As with any property purchase you will have to pay:

• Legal fees (about $1,500-$2,000)
• Municipal & Provincial Land Transfer Tax (this will depend on the price of the property–use our Land Transfer Tax calculator )

In addition to these, pre-construction closing costs also include:

• Development charges (these vary per project depending on the unit type but can range from $5,000-$12,000)
• HST (for investors, which can be rebated back up to $24,000)
By submitting a worksheet, you increase your chances of getting your preferred suite. In essence, it is a suite request sheet. It shows the condo developer that there are interested buyers. Agents are then allocated suites based on the worksheets they submit.

Many pre-construction launches are fast-paced and extremely competitive with buildings selling out in 24 hours. In these launches a suite request worksheet submission is necessary to ensure that you actually have a possibility of receiving the suite you’d like (but this is never guaranteed).

You are not guaranteed to receive the suite you request and you are also in no way obligated to buy the suite you’ve been allocated.
Pierre’s expertise in Toronto’s pre-construction condo market has earned him Platinum Broker status among Toronto’s top developers. This means that when you buy or invest with the Pierre Carapetian Group team, you have your pick of the best floor plans and the lowest pricing available.We represent you, not the builder and we will always guide you towards projects that we believe are a good investment and have great resale value.
Yes. As we mentioned, the process to buying pre-construction can be quite competitive and rushed. After you’ve signed an Agreement of Purchase and Sale with the builder you are given ten days to look over the contract and ensure everything looks good for you. Keep in mind, the cooling off period is ten consecutive days, not ten business days.
You won’t need a mortgage pre-approval right away, but it is always best to speak to your mortgage professional so that you fully understand your borrowing power.

You will however need a Mortgage Letter that states upon the building taking occupancy you will be able to afford and carry the property. Typically this is required within the first 30 days of signing. It is always a good idea to get a mortgage pre-approval in the beginning of your real estate journey so that you know how much you can afford.
This will depend on whether you are buying as an end user (planning to live there) or an investor. In Ontario, there are two types of HST Rebates in place for newly built properties.

If you are buying as an end user, typically the Ontario HST rebate is assigned to the builder directly upon closing, allowing the builder to essentially pay the cost of the HST from your purchase.

If you are buying as an investor, you must pay the HST upfront at closing and have your lawyer file for a full HST rebate, refunded 4 to 6 weeks later provided they have a one year lease in place.



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