Maison Wellesley is a condo by Graywood Developments at 506 Church Street, in the middle of the Church and Wellesley Village. Suites start at $667,990 and completion is expected in fall 2027.
Who rents and buys here
This is one of the most reliable rental locations in the city, because several large employers and schools are within walking distance:
- Toronto Metropolitan University, a few blocks south
- The University of Toronto’s St. George campus, west past Queen’s Park
- The hospital district along University Avenue
- The Ontario government offices around Queen’s Park and Bay Street
That mix of students, medical staff and public servants keeps demand steady in good and bad markets. It is the main reason to consider a suite here, whether you plan to live in it or rent it out.
Price
The starting price is slightly above the City of Toronto’s average resale condo price of $651,648 in August 2026. There are many resale suites within a few blocks, in buildings of every age. Before buying new, look at what $670,000 buys in a ten-year-old building nearby. An older suite is often larger for the money, with fees that are already known.
Deposit
The published deposit was 15 per cent, with instalments that ran to January 2026. Those dates have passed, so a buyer today will be given a shorter schedule. Ask for it in writing.
Rent control
Units first occupied after November 15, 2018 are exempt from Ontario’s annual rent increase guideline. A suite in a new building like this one falls under that exemption as the rules stand. Rules can change, so investors should not build a plan that depends on it.
Getting around
Wellesley station on Line 1 is about a block west. College station and the 506 streetcar are a short walk south. Most errands here are done on foot. Church Street has grocery stores, cafes and restaurants, and Barbara Hall Park is a few steps away.
Questions to ask
- How many storeys is the building, and how many elevators serve it?
- What are the estimated maintenance fees?
- Is assignment or leasing during occupancy allowed?
Closing costs at the starting price
Land transfer tax on $667,990 in Toronto is about $19,670, or $11,195 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.