Toronto luxury condo developer North Drive Investments Inc. is bringing the first new housing in over two decades to Toronto's tony Bridle Path neighbourhood with its Two Post Road project.

North Drive’s focus on high-end developments in Toronto’s classic communities made it "only natural that we would look to a Post Road Bridle Path neighbourhood,” Jordan Morassutti, co-founder and partner of North Drive, said in an interview with RENX Homes.

Planned to feature 62 condominium units, the upscale five-storey development to be sited at the corner of Bayview Avenue and Post Road is designed to “replicate the presence and feeling of approaching a grand Bridle Path estate.”

“Despite the current challenges in the broader condominium market, this offering is so sufficiently unique that it’s unimpacted by market fluctuations,” Morassutti said of what will be North Drive's first project in Bridle Path.

The two- to three-bedroom units ranging from 2,100 to 5,700 square feet across indoor and outdoor space will start from $2.5 million, with sales slated to launch in January.

Fulfilling a 'tremendous leap of faith'

As the first new pre-construction launch to hit Bridle Path in over 20 years, Two Post Road is “at the intersection of tremendous, pent-up demand and limited supply,” Morassutti said in reference to Toronto’s luxury housing market.

There is a “tremendous leap of faith” in purchasing pre-construction luxury condos, so careful attention must be taken to attract discerning customers with attributes such as the choice of site, the building and suite designs, architecture and the track record of the developer, he said.

The mid-rise building will consist of 12 garden suites on the main level, 32 signature collection units on the second and third levels, and 18 penthouse suites on the fourth and fifth levels. Garden and penthouse units will have 12-foot ceilings; the signature collection will have 10-foot ceilings.

All the suites are planned to have access to outdoor spaces and terraces, and buyers have the option to combine units for additional space.

Two Post Road will host a private dining room attached to a catering kitchen, and a fitness facility featuring a pickleball court and a golf simulator. An additional sweetener for golf aficionados is the close proximity to the Rosedale Golf Club, as well as the Granite Club, a private social and athletic club.

Twenty-four-hour valet, concierge and property management services will be handled by The Forest Hill Group.

Most buyers are expected to be from the Bridle Path area looking to right-size or make a lateral transition, Morassutti explained. This group of buyers are moving out of the large multi-floor, four-bedroom homes they raised their families in for a single-level residence with the finishes and standards they are used to.

A sales office has been established at 291 York Mills Rd. for prospective buyers to preview Two Post Road. North Drive is aiming to start construction in Q3 2025 and have the building ready for move-in by the spring of 2028.

North Drive's upcoming projects

North Drive’s portfolio includes other high-end developments such as 88 Cumberland, The High Park, and One Roxborough West.

In a 2019 interview with RENX, Morassutti said he and his brother Taylor and childhood friend Robert Fidani were motivated to enter the luxury market because “buyers have accumulated enough wealth outside of their home that they don’t view it as a piggy bank for retirement, and are looking to make a true lateral transition when seeking a new home.”

His company is currently completing 10 Prince Arthur in the Yorkville area, which will be open for occupancy in early 2025. The seven-storey building will have 28 units ranging from approximately 2,200 square feet to as much as 2,745 square feet.

Construction at One Roxborough West (“a tremendous success” according to the co-founder) is also under way. The 12-storey, 21-unit tower is designed to have an average size of 3,000 square feet per suite, ranging from 2,100 to 5,700 square feet. Upper floor units are pegged at $16.5 million to $18 million, with remaining housing in the $3-million range.

Morassutti also said North Drive will have one or two additional projects to announce in 2025.

As for potential new development site acquisitions, North Drive is taking a disciplined approach, he said.

EDITOR'S NOTE: This article was edited after being published to include updated information about pricing, and to clarify the square footage includes indoor and outdoor space.