You can’t make this stuff up. Toronto’s latest real estate venture is the city’s first-ever condo for cars, with penthouse suites just for you to park your wheels. The 3-storey building, called ToyBx, will be conveniently located near the Gardiner Expressway and Highway 427 and will serve as a premium storage space for your vehicle.
According to the Toronto Star, the brokerage firm behind the project is aiming for a mid-December launch and is still in the planning stages with the City of Toronto. If all goes according to plan, the ToyBx will be fully complete by summer 2023.
This is far from your average parking spot. In fact, it’s described as a “car experience facility” that can be customized to your liking, including bespoke cabinetry, LED lighting, floor finishes, dehumidification units, chargers, and more, the outlet says.
Plus, the units come with 20-foot ceilings, lake views, car elevators, and 24-hour security to ensure that your vehicles are safe and sound in their luxury suite.
The outlet says that ToyBx will be home to 195 units and 39 penthouse suites, each of which can accommodate four cars. The cost hasn’t been revealed just yet, but seeing as some in-demand parking spots in the city cost upwards of $100,000, these premium suites will likely cost a pretty penny.
Most buildings in Toronto charge anywhere from $30,000 to $50,000 for a parking spot, Strata real estate agent Francisco Hiebert told Curiocity.
ToyBx is already facing some pushback from some affordable housing advocates in Toronto, who believe that this space should be used for low-income residential units instead.
“We see these demonstrations of lack of care, for me, personally, I found this disrespectful,” said Alejandra Ruiz-Vargas of ACORN Toronto, a low-income advocacy group, to the Toronto Star.
“People It’s like when you are hungry, and you’re showing somebody a piece of bread and you don’t give it, you know what I mean? Like how (can) you use this space only for cars, why don’t you use a piece for cars and a piece for affordable (housing) so everybody will win,” said Ruiz-Vargas.
Love it or hate it, the concept is both ridiculous and fascinating at the same time.