1177 Danforth Avenue is a new condo development by Sierra Building Group currently in preconstruction at 1177 Danforth Avenue, Toronto. The development has a total of 98 units.
Fortress Real Developments and Sierra Building Group have partnered on a mid-rise development site located at 1177 Danforth Avenue, located on the southwest corner of Greenwood Avenue and Danforth Avenue. The condominium apartment project designed by Kirkor Architects will consist of a 9-storey mid-rise condominium with 98 units, with an average unit size of about 740 sf, and a targeted average price of around $400,000.
A lack of suitable development sites has prevented the Danforth from attracting developers and high-density projects, as opposed to a lack of demand in the area. Investors continue to show interest in the pre-construction condominium market, as the rental marketplace remains tight, and rental rates continue to escalate. Currently developments like The Greenwood – well-priced, well-located in the former City of Toronto, along transit lines, are outperforming suburban projects. The Greenwood development will likely attract an even mix of investment buyers and end-users, with its transit friendly location in an underserved neighbourhood.