Project Name: Olive Residences 

Address: 38 Olive Avenue, Toronto, ON36 

Developers: Capital Developments

Completion Date: 2026

Number of Units: 350 units

Unit Sizes: 405 sq ft to 940 sq ft; 1 bedroom – 3 bedroom


Olive Residences By Capital Developments, Yonge & Finch, Toronto

Project Overview 

Probably one of the only pre-construction projects launching this year with a Transit score of 100, Olive Residences by Capital Developments is one of the hottest developments launching in 2023. This is the second project developed by Capital Developments in the neighbourhood – with Azura Condominiums just blocks away from  38 Olive Avenue, Toronto, ON36. 


Olive Residences is one tower, 29-storeys high with 350 units located in Willowdale, in the heart of North York. It’s a gated community promising its residents the luxury of a condo while offering the flexibility of custom-built homes. Each unit is fitted with high ceilings and laminated flooring. You can even customize your kitchen and bathroom to a certain degree to suit your style. 


Most people have no complaints about the neighbourhood. There’s a reason this project has a Transit Score of 100. If you choose to stay here, you’re literally a 4-minute walk from Finch TTC Subway station. Same stop if you’re using the GO Transit or York Region Transit. There are a bunch of restaurants, entertainment hubs, schools and universities, and shopping centers close to Willowdale. If you’re living at Olive Residences, you just need to step out, with or without a plan,  and let North York happen to you! 


Capital Developments has over 15+ years of experience in the industry – developing over 10 million square feet in the process. A couple of its other flagship projects include: 2131 Yonge Street, 11 Yorkville & 8 Elm. 

Why Invest In Olive Residences?

– North York is one of our favourite neighbourhoods in uptown Toronto. Everything that you look for in a neighbourhood: North York has. It’s a transit hub with great educational institutions in the vicinity. You’re never short of entertainment and excitement. It’s no surprise that it’s one of the fastest-growing neighbourhoods in Toronto seeing a steep rise in property prices. 


– In Toronto’s housing market, property values favor those projects on or near transit lines. Olive Residences is one of the few condo projects launching this year that’s within walking distance of a TTC subway station & GO Station.

Location / Neighbourhood 

Any project located on a transit line or with a Transit Score of 100 is good news for investors and home buyers alike. These properties are clearly in demand and if we’re to look at North York as an example – the average price per square foot of condos has doubled over the last 5 years, and the value of resale condos in the neighbourhood is up 9% year-on-year. 


Below is a list of some other local attractions that make North York such a sought-after neighbourhood: 



– Finch TTC Subway Station / GO Station / York Region Transit (4-minute walk)


– Metro Church Avenue (8-minute walk)

– Arzon Supermarket (5-minute drive)

– Food Basics (6-minute drive)


– Hashi Izakaya (5-minute walk)

– Cafe Landwer (4-minute drive)

– Auberge du Pommier (8-minute drive)

– FRILU (10-minute drive)

Parks & Trails:

– Finch Parkette (5-minute walk)

– Kenneth Park (7-minute walk)

– Lee Lifeson Art Park (4-minute drive)


– Seneca College Newnham Campus (10-minute drive)

– York University, Keele St. Campus (14-minute drive)

– York University, Markham Campus (16-minute drive)

The two towers will also share a centrally-located lobby that will have pedestrian access from Dawes Road and a passenger drop-off/car entrance from Guest Avenue to the west. When it comes to public transportation, Dawes Condos is nearly unbeatable with its Rider’s Paradise Transit Score of 93. In just 8 minutes by foot, condo residents can walk to the Main Street Line 2 TTC subway station, allowing them to commute downtown in just 36 minutes.

Conversely, residents can also walk to the nearby Danforth GO Station in the same amount of time, allowing for downtown commutes of just 23 minutes.

And, other than use bus routes found throughout the neighbourhood, residents can opt to use a vehicle and drive downtown in just 22 minutes or the Beaches neighbourhood in just 11 minutes.

Wide-ranging in its influence, fully-encompassing in its convenience, awe-inspiring in its luxurious design — this east-end condominium has it all, making it the ideal home for new families and the ideal investment for savvy investors.


– Junior 1 bedroom + 1 bathroom (405 sq ft to 466 sq ft)

– 1 Bedroom + 1 bathroom; 5 layouts (490 sq ft to 580 sq ft) 

– 1 Bedroom + den + 1 bathroom; 4 layouts (595 sq ft to 645 sq ft)

– 2 Bedroom + 1 bathroom; (669 sq ft) 

– 1 Bedroom + den + 2 bathrooms; 3 layouts (from 659 sq ft to 697 sq ft)

– 2 Bedroom + 2 bathrooms; 4 layouts (688 sq ft to 819 sq ft) 

– 2 Bedroom + media + 2 bathrooms (821 sq ft)

– 3 Bedroom + 2 bathrooms (940 sq ft)


– Private catering kitchen that can be booked in advance when hosting get-togethers or parties

– Social, co-working lounge, and a meeting room to network, get sh*t done or meet other residents

– Outdoor terrace with barbeque pits and lots of space to unwind 

– Virtual sports room, ping-pong table, and bocce court where you can flex your competitive muscles

– Fitness studio, yoga/pilates studio, and outdoor stretching area to help you meet your fitness goals

– Kid’s room, designed like a daycare filled with recreational activities for children

– Herb garden and chef’s kitchen for all the culinary purists


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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