40 Widmer is planned to be a 41-storey, 315-unit purpose-built multi-family rental development in Toronto’s Entertainment District. Close to all major amenities, including transit, restaurants and shopping, it is an ideal location for busy professionals who want to live and work in the heart of the city. This location is ideal to attract Torontonians who want a high-quality, professionally managed property that is hassle free.
The building will feature a striking modern design consisting of a tall glass tower anchored with a 7 storey podium. The combined 41 storey building is located on Widmer Street – between Adelaide Street West and Richmond Street West – in the heart of downtown Toronto’s Entertainment District. A vibrant neighbourhood, the Entertainment District is home to some of the nation’s most iconic landmarks including the CN Tower, Rogers Centre, Air Canada Centre, Princess of Wales Theatre, TIFF Bell Lightbox and many more. It is the city’s cultural centre for sports, dining, nightlife and the arts.
Ideal Location – 40 Widmer is located in downtown Toronto’s Entertainment District, a vibrant neighbourhood that is home to some of the nation’s most iconic landmarks including the CN Tower, Rogers Centre, Air Canada Centre, Princess of Wales Theatre, TIFF Bell Lightbox and many more. It is the city’s cultural centre for sports, dining, nightlife and the arts.
Strong Rental Growth – The Entertainment District has experienced solid growth in rental rates, becoming one of the highest priced submarkets in which to rent in Toronto. During the past 5 years, rents per square foot have increased by over 20% to approximately $3.34 PSF.
Demand for Purpose-Built Rentals – The significant increase in Toronto home prices has created a major barrier to homeownership. With the average detached home price in Toronto above $1 million, many people simply cannot afford the down payment and ownership costs. This has led to a strong demand for high-quality purpose-built rentals as people look for professionally-managed, secure housing.