Park Place is a two-tower condominium by SmartCentres at the northeast corner of Highway 7 and Commerce Street in the Vaughan Metropolitan Centre (VMC), designed by Hariri Pontarini Architects. The towers rise 56 and 48 storeys on a shared podium with about 1,111 suites and ground-floor retail, beside a planned 9-acre central park.
Project snapshot
- Builder: SmartCentres (SmartLiving)
- Location: Hwy 7 and Commerce St, Vaughan
- Type: two condo towers, 56 and 48 storeys, about 1,111 units
- Status: launched in 2022 and still listed as selling in late 2025, with suites from about $678,000 reported; we could not confirm a construction start
- Listed occupancy: 2027, which is likely to move if construction has not begun
Why the VMC
The VMC is Vaughan’s planned downtown, built around the Vaughan Metropolitan Centre subway station at the north end of Line 1, a regional bus terminal and quick access to Highways 7, 400 and 407. Several SmartCentres towers are already occupied, along with the YMCA, library and offices in the area. For buyers who work in York Region or along Line 1, it offers subway access at lower prices than midtown Toronto.
Things to weigh
- Many new condo towers are being built in the VMC, so resale and rental competition within the area will be high.
- Occupancy dates for towers that have not started construction can move by years.
- Compare new launches with resale units in completed VMC buildings, which you can move into now.
Before you buy pre-construction
- Use the 10-day cooling-off period on a new condo to have a lawyer review the agreement, especially the caps on closing adjustments and development charges.
- Plan for the appraisal at closing. If the home appraises below your price, you cover the gap in cash.
- First-time buyers may qualify for the federal GST/HST rebate of up to $50,000, and Ontario’s expanded HST relief runs to March 31, 2027. See our HST rebate summary.
More in our new vs resale guide.
Interested in this project or a resale unit nearby? Contact us for current availability, floor plans and pricing. HomeLife Landmark Realty Inc., Brokerage.
Status as reported by listing and planning sites through late 2025. Confirm with SmartCentres.