The trend to rent and not buy is about to get a little bit bigger due to Toronto’s newest hot complex – Kings Club.
Right between Atlantic Ave. and Sudbury St. right in the heart of Liberty Village is a big but easy to miss construction site. For a long time it was not immediately apparent what the building was going to turn into but, just last month some new banners started popping up at the base of the site that gave some vague yet intriguing answers.
“A neighborhood within a neighborhood,” the banners read as you pass by on the sidewalk.
“Serious living without the investment,” it says a couple of steps further before stating with authority: “This is not a condo. But it’s everything you want about the condo life.”
It’s called Kings Club and its slogan is The Liberty of Rental Living. Its mission, to make renting cool. There will be a pool, a party room, a gym, yoga room and a business centre – all things you would get in a basic condo but, without the mortgage, the condo fees and the other payments for all those special amenities. It coins itself as being the place where freedom of choice reigns. Basically an apartment building, but no mention of that word anywhere.
The Kings Club website describes the complex as, “serious living without the investment.”
The building’s layout (what little snapshots we can see of it) gives off a neighborhood vibe with three towers connected by structured walkways making an almost triangular shape around a communal area at the center. You can go for a walk without really leaving the building and you’ll be able to shop without leaving the building because there will be retail options on the main floor. With eye catching branding, an online construction cam and active social media accounts, it’s obvious the Kings Club goal is to be not just be where you live, but your community as well. The neighborhood layout allows residents to connect and socialize better than in your typical apartment complex.
Kings Club offers the experience of a condo lifestyle without the commitment of owning anything. Renting residents can live there for a year at the least and can decide if they want to stay. This says something about the housing climate which we’re currently in and the mentality of future buyers, investing is next to impossible for Torontonians but renting seems like the safe approach for the noncommittal. Could renting be the future of real esate? No serious investment, you’re free to leave when you please and you can still enjoy the city complex you’re in. Sounds like the millennial dream. Kings Club might not be doing something completely different but its attitude towards renting is definitely breaking the stigma attached to the lifestyle.
No word on pricing or included retailers is available just yet but, if you want to stay updated check out additional info at kingsclub.ca.