The Palace Pier Condos: Palace Pier & Palace Place
When it comes to finding the perfect home, there are several factors to consider, including location, amenities, and history. The Palace Pier at the Humber Bay Shores in Etobicoke is home to two luxury condominiums, Palace Pier & Palace Place. Both towers check all the boxes and offer a unique and exceptional waterfront lifestyle. These iconic buildings have been a symbol of luxury living in Toronto for over four decades, and their history is just as fascinating as their architecture.
In this blog, we'll explore the rich history of The Palace Pier and the evolution of these two landmark buildings over the years. We'll also detail the top reasons why The Palace Pier is a great place to call home, from its prime location in the Humber Bay Shores community to its top-notch amenities. Whether you're in the market for a new home or just curious about the history of this iconic building, this blog is a must-read. So, sit back, relax, and join us on a journey through the history of The Palace Pier.
Ariel view of the Palace Pier site taken in 1958. Photo courtesy of the City of Toronto Archives.
HISTORY
The site of the current Palace Pier was originally home to Toronto's amusement pier. This amusement pier is a fascinating piece of local history. Developed in the 1920s, the pier, which was once a hub of activity and entertainment, has since been replaced by the two beautiful condominiums, but its legacy lives on.
The amusement pier was a popular destination for locals and tourists alike. The pier was home to a variety of attractions, including a dance hall. Visitors could also enjoy carnival games, live music, and delicious food.
The amusement pier was originally developed by the Toronto Harbour Company, which was owned by William Mackenzie and Donald Mann, two Canadian railway magnates. They saw the pier as a way to capitalize on the growing popularity of amusement parks in North America and attract more visitors to the area.
Over the years, the pier underwent several changes and additions; however, the pier faced several challenges, including a devastating fire in 1933, which destroyed many of the attractions.
Despite these setbacks, the amusement pier continued to attract crowds throughout the 1930s and 1940s. However, by the 1950s, changing trends in entertainment and the rise of the automobile led to a decline in visitors. Although efforts were made in the 1950s to revitalize the pier with a substantial renovation project, its attendance continued to decline. Consequently, it was repurposed as a bingo hall and rented out for private events. However, it all came to an end on January 7, 1963, as the entire structure was destroyed by a fire set by an arsonist. Since rebuilding the entire pier was too costly at that time, it was eventually demolished.
Today, the Palace Pier is a beautiful residential complex that offers stunning views of Lake Ontario and the Toronto skyline. The pier's legacy, however, is not forgotten. The buildings are named Palace Pier in honour of the renowned amusement facility. Also, the developers of the first tower, Palace Pier, worked to preserve several artifacts from the amusement pier, including the pier's original gates, which can be seen in Palace Pier's lobby. In addition, the residents of the condominium generously donated a monument in honour of the original Palace Pier, which was installed on the west side of the Humber River footbridge. Interestingly, the monument was crafted from one of the cement footings that were utilized during the pier's construction.
Construction of the Palace Pier in July 1931. Photo courtesy of the City of Toronto Archives.
THE START OF THE LUXURY CONDOS: PALACE PIER
The first tower to be erected, Palace Pier, located at 2045 Lake Shore Blvd W in Etobicoke, has a rich history that dates back to the 1970s. This iconic waterfront building has been a symbol of luxury living in Toronto for over four decades. Here's a brief history of Palace Pier and its evolution over the years.
As the first of two condominiums, Palace Pier was built in 1978 by Bramalea Ltd., a real estate development company known for its innovative and modern designs. At the time, Palace Pier Condo was the largest residential building in Canada and was a significant landmark in the Toronto skyline. The 46-storey building was designed by Edward I. Richmond of E.I. Richmond Architects Ltd.
The original design of Palace Pier was inspired by European palaces, with a grand entrance, a marble lobby, and a sweeping staircase. The building was also equipped with state-of-the-art amenities for its time, including a squash court, a swimming pool, and a sauna. These luxurious features made Palace Pier a highly sought-after address for those looking for a premium waterfront lifestyle.
Over the years, Palace Pier has undergone several renovations and upgrades to keep up with the changing times. In the 1990s, the building underwent a $30 million renovation that included the addition of a rooftop terrace, a fitness center, and a 24-hour concierge service. In 2015, the building underwent another significant renovation that included upgrades to the common areas, landscaping, and amenities.
Today, Palace Pier remains a highly coveted address for those looking for luxury waterfront living in Toronto. As one of Humber Bay Shores' iconic buildings, it has retained its original grandeur and elegance while also offering modern amenities and conveniences. The location, views, and amenities of Palace Pier Condos make it a unique and exceptional place to call home.
Photo courtesy of Fred Renna Real Estate
A SECOND TOWER: PALACE PLACE
The Palace Place condominiums is also a luxurious high-rise residential building located at 1 Palace Pier Court in the prestigious Humber Bay Shores neighbourhood of Etobicoke. It is the second condominium tower built in the 1990s and is renowned for its exceptional amenities and breathtaking views of Lake Ontario. It was built in 1993 by the Canadian real estate developer Bramalea Limited. The building stands 47 stories high and contains 429 units, ranging in size from one-bedroom suites to spacious three-bedroom penthouses.
Although both buildings, Palace Pier and Palace Place, look very similar, they are both independently managed by separate property management companies.
Photo courtesy of Fred Renna Real Estate
BENEFITS OF LIVING AT Palace Pier & Palace Place
If you're looking for a luxurious waterfront lifestyle in the heart of Etobicoke, The Palace Pier is the place for you. With its prime location within the Humber Bay Shores community, stunning views, and exceptional amenities, The Palace Pier is a highly sought-after community. Here are 5 reasons why The Palace Pier condominiums, Palace Pier and Palace Place, are great places to live:
- Waterfront Living: Palace Pier condos are situated right on the edge of Lake Ontario, offering residents breathtaking views of the water and Toronto skyline. You can enjoy morning walks on the boardwalk, bike rides on the trails, and even take part in water activities like boating and kayaking. Living on the waterfront is a unique and rare opportunity that Palace Pier condominiums offer.
- Exceptional Amenities: Palace Pier condos offer residents access to an array of top-notch amenities, including a fitness center, squash and tennis courts, indoor and outdoor pools, and a sauna. Additionally, there's a rooftop terrace where you can soak up the sun and enjoy the stunning views of the lake.
- Prime Location: Palace Pier & Palace Place are located at the heart of the fabulous waterfront community of Humber Bay Shores in Etobicoke, close to everything you need for a convenient and fulfilling lifestyle. It's just a short drive away from downtown Toronto and also has easy access to major highways like the Gardiner Expressway and QEW. There are also many shopping and dining options nearby, including Sherway Gardens Mall and The Queensway.
- Spacious and Luxurious Suites: Palace Pier & Palace Place offers residents spacious and luxurious suites ranging from one to three bedrooms. The majority of the units in Palace Pier have balconies or terraces, so you can enjoy the stunning views of the lake and Toronto skyline. Despite Palace Place having no balconies, the views are still breathtaking.
- Strong Community: The Palace Pier condos are known for their strong community, where residents can socialize and form lasting friendships. There are plenty of social events and activities organized by the building management team, such as BBQs, yoga classes, and book clubs. The community is diverse and welcoming, making it easy to feel at home.
- 24/7 Security: Palace Pier & Palace Place offers 24/7 security to ensure the safety of all residents. The building has a secure entry system, surveillance cameras, and on-site security personnel. You can feel at ease knowing that you and your belongings are safe and secure.
- Concierge Services: The Palace Pier condos both have professional concierge teams that are available to assist residents with any needs or requests they may have. Whether you need help with reservations, packages, or maintenance requests, the concierge team is there to help make your life easier.
- Pet-Friendly: Both Palace Pier condominiums are pet-friendly communities, allowing residents to keep their furry friends with them. There's even an on-site dog park where you can take your pup for some exercise and socialization. Living in a pet-friendly community is a significant benefit for those who have pets and don't want to leave them behind.
- Green Spaces: Palace Pier & Palace Place have plenty of shared green spaces for residents to enjoy, including beautifully landscaped gardens and a park. These spaces provide a peaceful retreat from the hustle and bustle of the city and offer a space to connect with nature.
- Resale Value: Buying a condo in The Palace Pier is an investment in your future. The buildings are well-maintained, and the location and amenities make it a desirable place to live. As a result, the resale value of the units tends to hold well over time, making it a smart investment.
Photo courtesy of Fred Renna Real Estate
THE VERDICT
In conclusion, The Palace Pier condominiums in Etobicoke offer an exceptional waterfront lifestyle with top-notch amenities, prime location, and strong community. It's a pet-friendly building with 24/7 security and professional concierge services, making it a safe and convenient place to call home.
If you're interested in learning more about Palace Pier or Palace Place and how you can make it your next home, contact me, Fred Renna, a leading real estate broker with extensive experience in Etobicoke & the Humber Bay Shores. I can provide you with more information about available listings and help you find the perfect unit that fits your lifestyle and budget. Contact me today to schedule a viewing!
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