Cosmopolitan Hotel and Residences
Location: Downtown Toronto
Developer: Skyline Properties
Size: 352 to 1,450 square feet
Price: $219,200 to $1.8-million
Contact: To register, phone 416-923-1839 or visit www.cosmopolitanresidences.ca
Skyline Properties aims to bring affordable luxury to a location in the heart of Toronto's banking district with its new Zen-inspired boutique-hotel conversion.
With the exception of a $1.8-million penthouse, the fully-furnished residential suites - converted from lavish hotel rooms - will range from $219,200 to $375,000.
"There are … very few suites available in these price points in a true downtown location," says Barbara Lawlor of Baker Real Estate, which is handling the sales for the Cosmopolitan Hotel and Residences at 8 Colborne St., near King and Yonge streets.
"The first-time buyers are driving the market right now, plus these are amazing price points for investors."
These suites are even more invaluable based on their inclusion above a reputable hotel, which was the only Canadian entry - out of 60 new hotels worldwide - highlighted in Condé Nast Traveller's Hot List in 2006.
"It's a rare very opportunity to buy into a boutique hotel at that price point," says Shakeel Walji, who is the creative director with The Walsh Group, which is the team behind the marketing campaign. "You get [to use] all the hotel amenities available."
That includes valet parking, 24-hour concierge and a personal assistant, as well as a turn-down service that leaves energy stones on guests' pillows.
Residents of the 27-storey building can also request in-room treatments from Shizen Spa on site or explore the extensive wine list and market-fresh menu at Eight Wine Bar.
Furthermore, homeowners will have exclusive use of a 24-hour fitness centre, multipurpose room and meeting room.
"It truly is an exciting, smart and sexy building," adds Ms. Lawlor.
Starting from the ninth floor, hotel rooms will be refurbished as private residences with everything from 32-inch LCD televisions to 400-thread-count Egyptian cotton linens.
Occupancy will be available within 30, 60 or 90 days.
"You could just move in with a toothbrush and a change of clothes," says Ms. Lawlor.
There are only five units per floor, including studios and one-bedroom plans between 352 and 560 square feet.
"We will have five models open so people can see the type of suite they're most interested in," says Ms. Lawlor.
Plans generally offer open entertaining spaces and revamped kitchens with upgraded granite counters and stainless-steel appliances, along with balconies and floor-to-ceiling windows with sightlines toward the lake and city.
Based on the advice of energy-balancing expert Sylvia Noble, air purifiers, engineered floors, orthopedic beds and relaxation CDs are just some elements added to create tranquillity within the suites.
The sole 1,450-square-foot penthouse - once a retreat for celebrities such as Kate Hudson, Queen Latifah and Kevin Spacey - was designed and decorated on a an episode of HGTV's Designer Guys.
The space contains a living room featuring double-height ceilings, a floating staircase to an upper balcony and a three-sided fireplace shared with a dining area.
"This is a one-of-a-kind suite," says Ms. Lawlor.
Monthly fees will be 65 cents per square foot, including hydro.
Private parking is not available, however, there is little need for a car with so many attractions within the financial, entertainment and shopping districts nearby.
"You are on a tiny little side street … just steps from the subway and all of the excitement of King Street," says Ms. Lawlor.