This month we looked at sales in the Festival Tower, the home to the Toronto Film Festival (TIFF) and Bell Lighthouse. The building is eight years old and is a ‘walk to anywhere’ location with superb amenities. The first unit we examined was a one bedroom + den with balcony and locker, but no parking. It faces north on a high floor. It sold in 2013 for $425,000 and then in 2019 for $649,000. Over the six years, this unit increased at 7% per year. At just over 600sf the current price is $1050/sf. For the first time, we looked at a more luxurious unit. It is two bedrooms plus den with two baths. It has parking, locker, plus a large balcony. It also is on a high floor facing southeast. This unit sold in 2011 for $945,000 and then in 2017 for $1,450,000. That represents an annual increase of 7% over the period. This same unit sold again in 2019 for $1,650,000 with an annual increase of 7% again over two years. The point is that appreciation in this building has been consistently at 7% since registration. At 1250sf the price for this unit is now over $1300/sf. This is one of the few buildings where the price psf is greater for larger units. Currently, there are five units for sale out of 378 units in the building.