1245 Dupont St Est. Occupancy: 2023

OVERVIEW

1245 Dupont St
Wallace-Emerson
Freed Developments
Hariri Pontarini Architects
Completion: 2023
8 Towers
18-35 Storeys
2846 Units

Galleria Mall Condos Block 5 Towers

Galleria Mall Condos, Toronto

Freed Developments, along with Hariri Pontarini Architects and Urban Strategies Inc., have big plans for the approximately 19 acre site at the corner of Dufferin and Dupont Streets. The Galleria Mall redevelopment plan includes eight residential towers with 2,846 condo units, 300,000 square feet of retail space including a national grocer, drug store, and fitness chain.

The towers will vary in height and architectural design. The lower one or two storeys of the towers will house new retail space. The Galleria Mall Condos along Dupont Street will sit atop residential podiums ranging from seven to ten storeys and those condos along Dufferin Street will have residential podiums two to eight storeys. The Galleria Mall development will have a few mid-rise terraced buildings that will transition away from the public spaces to avoid any shadow impact. Among the eight Galleria Mall Condo towers the heights will range from 18 to 35 storeys at their peak.

Galleria 01 Sold Out – Register for Phase 02

Galleria 01, the first phase of this exciting development, will go on the north west side of the development. Galleria 01 will be 24 and 29 storeys connected by a mutual podium. With 470 units in total, some of which will be purpose built rentals. For the development as a whole, the Galleria Mall Condos for sale will be 55% one bedroom, 35% two bedroom, and 10% three bedroom. 

About the Galleria Mall Development

The master plan for Galleria Mall Condos is designed with a pedestrian-first approach by adding more community gathering spaces and laneways. The cycling community will also get designated bike lanes and bike infrastructure throughout the development. Small laneways will run from Dupont Street south towards a central roadway that runs diagonally across the site, the north half of which will have retail, office space, and the new residential towers.

The park is comprised of three hearts, with the part closest to Dufferin called the ‘Nature Heart’ this part of the park features sprawling lawns and forested areas with numerous paths connecting Dufferin to the massive 8-acre park. These paths also lead to the second heart of the park, the ‘Play Heart’. This part is situated in the middle section of the park and will contain various play spaces and multi-purpose sports fields. There is also an artificial hill overlooking the aforementioned sections. This part of the park will be perfect to host various events and performances. Finally, the ‘Community Heart’, located on the westernmost part of the park adjacent to the community centre. The Community Heart will contain a winter skating trail, BMX/skateboard Park, and gathering spaces.

Read more details of what’s to come for the Galleria Mall Redevelopment 

FLOOR PLANS

Studio
1 Bedroom
1 Bedroom+den
2 Bedroom
2 Bedroom+den
3 Bedroom
3 Bedroom+den

AMENITIES

Fitness Centre
Party Room
Co-working Space
Rooftop Terrace
Theatre
Games Room
Kids Playroom
Dining Room with Kitchen
Pool

REGISTER FOR PLATINUM PRICING FOR GALLERIA MALL CONDOS PHASE 02

YES I WANT PLATINUM ACCESS

PRE-CONSTRUCTION CONDO FREQUENTLY ASKED QUESTIONS

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.

You can see the full Steps to Purchase here.

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.

Learn more about builder worksheets here.

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.

Learn more about builder worksheets here.

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.

Download our Pre-Construction Investment Guide to get better acquainted with the process.

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

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.

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.

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.

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)

Read more on the nuances of Closing Costs here

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.

You can read more on the HST Rebate here.