Earlier this week, Lamb Development Corp. has announced that it will be erecting The Woodsworth in downtown Toronto to inject a measure of affordability in the red-hot market.
Offerings in the 17-story condominium tower will start in the $400,000 price point, which Lamb Development said will fit the needs of young urban professionals.
“It’s hard for young professionals to afford living in the city, close to work,” CEO Brad Lamb stated. “The Woodsworth makes owning a high quality condominium, while simultaneously enjoying downtown living and building a career a reality.”
Read more: Population growth a major driver in Toronto housing activity – TREB
Scheduled to break ground this winter, the project – located at 452 Richmond St. West – is slated to be completed by September 2021.
Peter Clewes of architectsAlliance will be designing the development, while Kelly Cray of U31 will handle interiors.
“Young professionals have a growing appreciation for good design and they want a home that reflects their own sleek and stylish aesthetic,” Cray noted. “We’ve designed The Woodsworth with them in mind, providing quality and detail at an attainable price.”
Available units will be junior one bedroom, one bedroom, and one bedroom plus den floor plans ranging from 406 to 791 square feet.
Recent GTA activity shows gains in almost all housing types