319 Jarvis St Est. Occupancy: 2024

OVERVIEW

319 Jarvis St
Dundas & Jarvis
Downtown Toronto
CentreCourt
Centrestone Urban Developments Inc.
Completion: 2024
46 Storeys
595 Units

Prime Condos, Toronto

Rising 46-storeys above Toronto’s East Core will be a new mixed-use high rise known as Prime Condos. This 595-unit condo will have an air of luxury both inside and out. The simple but elegant exterior of Prime Condos, designed by Page + Steele IBI Group Architects, will be a stunning and sleek mix of stone, steel and metallic cladding surrounding large rows of reflective glass windows.

Of the many things that make Prime desirable, location tops the list. In the heart of downtown, set amid one of the city’s most vibrant neighbourhoods, Prime offers a world of amenities and conveniences right at its doorstep. If work is your priority, the financial core is a short walk away. If your existence revolves around higher learning, Ryerson University’s Yonge Street Campus is right across the street. Whether you’re a doctor or healthcare worker, Toronto’s outstanding healthcare facilities are also within easy reach. With convenient access to transit, as well as life’s essentials and luxuries, Prime is simply one of the best-connected condos in the city. From Google’s 400,000 square foot Downtown Office to the new $11 billion investment in the Ontario Line Subway Station and the St. Michael’s Hospital $300 million redevelopment project, all of this is only minutes away from Prime Condos. With the influx of recent residential development and major investments being made, the East Core has been seeing a lot of growth.

Pairing perfectly with the exterior finishes is the lobby with high ceilings, white tile, gold accents and rumoured to be furnished by high end designer brand, Versace. The design is nothing short of luxury, though starting prices of the 595 units expected at Prime Condos are in the $400s. Floor plans here will range from studios to two-bedrooms. Residents of Prime Condos will have access to an array of thoughtfully designed amenities located in the condo’s podium.

Prime Condos will also be home to new retail, a must in Toronto’s downtown core. With a walk score of 96 and transit score of 100, the location is highly desirable. Only a short walk to Ryerson University, the shops of the Toronto Eaton Centre, Loblaws, Allan Gardens and so much more.

Project Highlights

  • Steps from the new 400,000sqft Google downtown office
  • Steps from Ryerson University, a 40,000sqft centre for urban innovation
  • Minutes from College & Dundas Subway Stations
  • A new 350,000sqft ‘BMO Campus’ is being built, and will be a key player in bringing thousands of jobs to this area
  • St. Michael’s 3.0: a $300 million redevelopment project is in the works
  • Best of Toronto is close in proximity – Ed Mirvish Theatre, City Hall, Art Gallery of Toronto, St. Lawrence Market, The Hockey Hall of Fame, TIFF Bell Lightbox, CN Tower, Air Canada Centre, Rogers Centre, Harbourfront Centre, and more!
  • Walk Score: 94
  • Transit Score: 100
  • Bike Score: 99

With instant access to transit, well-established employment nodes and the city’s attractions and amenities, Prime Condos is a big appeal for students and young professionals alike. 

FLOOR PLANS

Studio
Jr. 1 Bedroom
1 Bedroom
1 Bedroom + Den
2 Bedroom
2 Bedroom + Den

AMENITIES

24-Hr Fitness Centre
Indoor Co-Working Space
Outdoor Co-Working Space
Outdoor Games Area
Outdoor Dining & Lounge
BBQs

REGISTER FOR FLOOR PLANS AND PRICING AT PRIME CONDOS

YES I WANT 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.

REGISTER FOR FLOOR PLANS AND PRICING AT PRIME CONDOS

YES I WANT ACCESS