Palace Place

1 - About Palace Place

• Address: 1 Palace Pier Crt, Etobicoke
• Neighbourhood: Mimico, Etobicoke, Toronto
• Storeys: 44 floors
• Units: 504 units
• Year Built: 1993
• Builder: Bramalea
• Building Type: High-Rise condo
• Suite Sizes: 833 sqft to 2894 sqft
• Average Price: $770 / sq. ft.

2 - Overview of Palace Place

Palace Place stands as a flagship 44-storey high-rise condominium completed in 1993 by Bramalea Limited at a construction cost of $200 million. This development established new quality standards for high-rise construction in Toronto's west end during the early 1990s.

The tower rises from the historic site of the original Palace Pier, a Moroccan-style amusement pier that was destroyed by fire in 1963. Built using early 1990s construction technologies, the building emphasizes structural durability and spacious interior volumes that were characteristic of the era's luxury residential developments.

Positioned strategically at the mouth of the Humber River, the building provides residents with unobstructed lakefront views. The development represented the gold standard for luxury waterfront living in Etobicoke when it was completed, establishing Palace Place as one of Toronto's premier high-rise towers during a period of significant urban transformation.

3 - Suite Sizes & Value

The building offers suites ranging from 833 square feet to 2,894 square feet, with floor plans that are notably more generous than those found in contemporary Toronto developments. This spacious design philosophy reflects the luxury market expectations of the early 1990s.

At $770 per square foot, Palace Place presents a compelling value proposition within Toronto's waterfront market. The combination of square footage, lakefront location, and comprehensive building services creates an attractive cost-benefit ratio compared to many newer high-rise developments in the city.

Maintenance fees follow an all-inclusive model, covering heat, hydro, and water utilities. This structure provides residents with predictable monthly housing costs and eliminates the variability of separate utility billing.

4 - Building Amenities & Features

• 24-hour concierge and security guard service
• Comprehensive fitness facilities including gym, exercise room, swimming pool, and sauna
• Private on-site tennis court and squash courts
• Top-floor party room featuring panoramic lake views
• In-house convenience store for resident use
• Private shuttle bus service connecting to Union Station and local destinations
• All-inclusive maintenance fees covering heat, hydro, and water
• Pet-friendly policy allowing one pet per unit, with dogs restricted to maximum 40 pounds

5 - Location Highlights

Palace Place occupies a prime position in Mimico at the mouth of the Humber River, providing direct access to the waterfront trail system and adjacent lakeside parks. The building's location is historically significant, marked by a 1994 Etobicoke Historical Board plaque that commemorates the original Palace Pier dance hall.

The immediate area offers proximity to Bishop Allen Academy, which maintains a 7.1/10 rating from the Fraser Institute. Residents benefit from the established residential character of Mimico while enjoying convenient access to both natural waterfront amenities and urban transportation connections.

6 - Lifestyle Near Palace Place

Life at Palace Place centres around waterfront access and the established residential atmosphere of the Mimico neighbourhood. The building attracts residents who prefer a lower-density living environment compared to the high-traffic downtown core, while maintaining connectivity to the city's business district.

The private shuttle service ensures direct transit links to Union Station and the financial district, eliminating many of the transportation challenges associated with waterfront living. The surrounding area combines the natural beauty of lakeside parks with the convenience of urban amenities, creating a balanced lifestyle for residents seeking both tranquility and accessibility.

7 - About the Developer

Bramalea Limited, incorporated in 1957, had grown to become Canada's largest builder by the early 1990s. The company used Palace Place as a flagship project to showcase the advanced construction technologies and luxury standards of the era.

Known for comprehensive "city within a city" developments such as the Bramalea community, the company established itself as a major force in both residential and commercial construction across North America. Palace Place represented the pinnacle of Bramalea's condominium development expertise during the company's peak period of influence in the Canadian real estate market.