Opera Place

1 - About Opera Place

• Address: 887 Bay St, Toronto
• Neighbourhood: Bay Street Corridor, Downtown
• Storeys: 16
• Units: 161
• Built Year: 1999
• Builder: Morguard Residential
• Building Type: High-Rise condo
• Suite Sizes: 538 sqft - 1296 sqft
• Average Price: $808 / sq. ft.

2 - Overview of Opera Place

Opera Place is a 16-storey residential development featuring a distinctive brick and glass exterior design. The building stands on a site that carries significant cultural history, originally designated for a world-class opera house designed by renowned architect Moshe Safdie.

The ambitious arts project received provincial government backing in the early 1990s but was ultimately cancelled, leaving the prime downtown lot vacant for nearly two decades. Morguard Residential eventually acquired the site and developed it into this residential tower, establishing their presence in Toronto's competitive Bay Street Corridor market.

3 - Suite Sizes & Value

Residences at Opera Place span from 538 to 1,296 square feet, encompassing studio layouts through two-bedroom plus den configurations. The floor plans showcase late-1990s design principles that emphasized generous square footage and flexible living spaces. Many suites feature solariums that extend the living area, while private terraces provide outdoor space for residents.

At an average of $808 / sq. ft., Opera Place presents an attractive entry point into downtown Toronto's condominium market. This competitive pricing offers considerable value compared to newer glass-tower developments throughout the core, making it particularly appealing for buyers seeking established downtown living without premium pricing.

4 - Building Amenities & Features

• Security: 24-hour concierge and comprehensive security services
• Fitness: Dedicated on-site fitness facility for residents
• Parking: Underground resident parking with complimentary visitor parking
• Retail: Ground-floor commercial spaces featuring a convenient drugstore and Presse Café

5 - Location Highlights

• Transit: Direct access to Wellesley and College subway stations; 306 and 506 Carlton streetcar routes at College and Bay intersection
• Green Spaces: Walking distance to Opera Place Park, James Canning Gardens, Alexander Street Parkette, College Park, and Dr. Lillian McGregor Park
• Educational Institutions: Proximity to University of Toronto, Toronto Metropolitan University, and the Legislative Assembly of Ontario
• Healthcare Hub: Steps from Hospital Row, including Toronto General Hospital, SickKids Hospital, Mount Sinai Hospital, and Princess Margaret Cancer Centre
• Shopping & Culture: Easy access to Eaton Centre, Bloor-Yorkville shopping district, Royal Ontario Museum, and YMCA facilities on Grosvenor Street

6 - Lifestyle Near Opera Place

With an exceptional Walk Score of 98, the building supports a completely car-free urban lifestyle. The resident demographic includes healthcare professionals, government workers, and university students who benefit from the central location.

The neighbourhood offers round-the-clock conveniences including Fran's Restaurant on College Street and diverse dining options like Magic Oven. Residents enjoy living at the convergence of Toronto's Financial District and Discovery District, providing unmatched access to major employment centres and cultural attractions.

7 - About the Developer

Morguard Residential brought Opera Place to completion in 1999 as part of their expansion into Toronto's downtown residential market. As a division of Morguard Corporation, one of North America's prominent real estate firms, they bring extensive experience in property development and management across residential, commercial, and retail sectors throughout Canada.