8 Elm on Yonge is a 69-storey condo at 8 Elm Street, one block north of Yonge and Dundas. Reserve Properties and Capital Developments are the builders. It has 819 suites and about 26,000 square feet of indoor and outdoor amenities. Suites start at $710,900 and completion is expected in May 2027.
Sixty-nine storeys
This is one of the taller residential towers in the city. Height brings long views over the downtown core and the lake from the upper floors. It also brings practical questions that shorter buildings do not have.
- Elevators. With 819 suites, waits at rush hour depend on how many elevators there are and how they are zoned. Ask.
- Floor premiums. Prices rise with height. Find out the premium per floor so you can decide how high is worth paying for.
- Move-in. Occupancy in a tower this size is staged over months, from the lower floors up. Your date depends on your floor.
The location
Elm Street is a short, quieter street known for its restaurants. Dundas station on Line 1 and the 505 streetcar are steps away. The Eaton Centre is across Dundas. Toronto Metropolitan University is two blocks east, the University of Toronto and the hospital district are a few blocks west, and the Financial District is a walk south. The builder is aiming at students, hospital staff and office workers, and the location suits all three.
Price
The starting price is about $59,000 above the City of Toronto’s average resale condo price of $651,648 in August 2026. Sales began in 2022, when prices were higher than they are now. Check the price per square foot against recent resales in neighbouring towers. If resale is cheaper for a similar suite, ask what the builder can do on the remaining inventory.
Deposit and timing
The published deposit was 15 per cent over 1,200 days. With completion about seven months away, that schedule no longer applies to a new purchase. Ask for the current terms.
Questions to ask
- How many elevators serve the residential floors?
- What are the estimated maintenance fees?
- When does occupancy begin for the floor you are considering?
- Is assignment allowed?
Closing costs at the starting price
Land transfer tax on $710,900 in Toronto is about $21,386, or $12,911 for a first-time buyer after rebates, including Toronto's municipal tax. New homes also carry builder closing adjustments such as development charges, utility connections and Tarion enrolment, which are set out in the agreement and are often capped on request. Have a lawyer review the agreement during the 10-day cooling-off period on a new condominium. The land transfer tax calculator and the HST rebate guide cover the rest.