Equiton Inc. plans a luxury condo development in Toronto’s affluent Bridle Path neighbourhood, encouraged by the resilience of the high-end asset sector even as the city’s broader condo market remains in a major slump.

The Burlington, Ont.-based real estate private equity firm, builder and developer unveiled Bridleview Residences in late February, a six-storey boutique condo to be located in 2535 Bayview Ave.

Called “a great site in a great location” by Equiton’s CEO and founder Jason Roque in an interview with RENX Homes, the company was “able to take advantage of acquiring that primarily because the market for condominiums in Toronto is very soft.”

Condo sales in the Greater Toronto and Hamilton Area last year plummeted by 60 per cent compared to 2024, according to Urbanation data. The Toronto Regional Real Estate Board reported a 15 per cent year-over-year decline in condo sales in Q4 2025.

But the luxury condo sector has not been as severely impacted. For example, Zonda found of the nine condo projects launched in the Greater Toronto Hamilton Area in 2025, five were priced within the luxury category at $1,800 or more per square foot.

The conditions present “an opportunity for well-structured, well-capitalized firms like ours to take advantage of essentially a buyer’s market,” Roque said.

About Bridleview

Equiton expects to have 50 to 60 units in Bridleview, a number which is being finalized based on the unit mix. The average floor space is planned to be approximately 1,900 square feet or larger, with one-, two- and three-bedroom offerings.

Prices are planned to be “slightly below” the average in the area, which is $2,000 per square foot, Roque said.

Prospective buyers are expected to prioritize privacy and security. Thus, concierge service is planned for Bridleview, which Roque anticipates will be a major attraction for potential buyers. The building is also expected to feature a spa-like fitness centre.

The upscale neighbourhood where Bridleview will be developed includes nearby access to private golf clubs such as the Donalda Golf Club and Rosedale Golf Club, plus higher-end stores in Bayview Village Shopping Centre and The Shops at Don Mills.

Equiton engaged luxury housing architect Richard Wengle for the project. Well-known in the community for his work, Wengle is designing Bridleview to fit the neighbourhood, Roque said.

Marketing and sales for Bridleview are planned to start later this year. Construction is anticipated to begin in mid-2028, with occupancy starting in late 2030.

Luxury withstands pressure on condo market

Bridleview, Roque said, is designed for primarily two kinds of buyers:

• an affluent local homeowner who is looking to sell their dwelling for a luxury condo; and
• high-earning professionals looking for large, luxury units with concierge-style living or families seeking upward mobility.

Roque said the Toronto luxury housing market has been resilient because the class of buyers it attracts are better shielded against market pressure.

“The type of client looking to possibly buy a home in this type of project, it’s not about affordability,” Roque said. “The decision for them is really more about lifestyle.” 

Other recent projects in Bridle Path have also moved forward, he added, although that actually represents just a small number of developments.

The luxury segment will continue to stay robust as the Greater Toronto Area emerges out of the housing downturn, Roque predicted. One reason he gave is because the number of wealthy Canadians, including those who have achieved millionaire status, has continued to increase over the years.

Toronto condos to prioritize livability, Roque says

A residential-focused company, Equiton has over $1.7 billion in assets under management with 52 properties across Canada as of Dec. 31, 2025. The company’s investment products include the Residential Income Fund Trust, which transacted on properties such as Edmonton's Central Tower apartments in 2025 and four Toronto rental buildings in 2024.

Equiton is currently developing six condo projects in the Greater Golden Horseshoe area, Roque said.

He expects the Toronto condo market to shift away from investor-led speculative products to boutique, livable units built for homeowners.

“I think there’s gotta really be a shift in what people are building and what they’re designing. I think part of the issue is that a lot of the inventory that’s out there is not really livable,” he said. 

Once the market works through the existing inventory, he forecasts a return to upward pressure on pricing.