Floating homes in Toronto are hard to come by. There are just 24 nestled at the foot of the beautiful Scarborough Bluffs, and one located at the Toronto Islands. So, when one of them goes on sale, the demand is high. They don’t tend to last long. But there’s one floating home for sale that has never been sold.
Brand New Floating Home For Sale
The brand new, ultra modern, three-bedroom, two-bathroom floating home located at Slip E-80 in Bluffer’s Park Marina has been on sale for almost a year. Originally listed at $879,800, that’s on par with the other floating homes in Toronto. It’s also still within reach for many in Toronto’s hot housing market, where the average home is now over $1 million. But there’s a reason why nobody has bought it yet.
The 25 floating homes in Toronto were originally built in the early 1990’s to support an Olympic bid. When the bid was unsuccessful, the float homes were sold to individual buyers. But the City of Toronto passed a by-law shortly thereafter prohibiting any more floating homes from being built. So, when a developer showed up with this new structure at Bluffer’s Park Marina, hoping to sell it and have it join the community of floating homes already there, the Marina was caught in a bind. Marina officials worried that allowing another float home to moor here, over and above the legal limit, could jeopardize its lease with the City.
The Marina decided to allow the float home to stay, but not to allow anyone to live in it until, if and when, the City provides its approval. There have been several conversations with the local city councillor, Gary Crawford. But seemingly no concrete decisions have been taken as of yet.
Floating Homes Good For Mental Health
It’s a shame on many counts. First, it’s a relatively affordable waterfront house that some, who are otherwise locked out of home ownership in Toronto’s hot seller’s market, might be able to afford. It also could have been a fantastic place for someone to ride out the multiple Covid-19 lockdowns in Toronto. Being on the water and surrounded by a close-knit community – even at a distance – could have seriously helped someone’s mental health who was otherwise cooped up alone and in a small condo. Finally, with the City’s new emphasis on and investment in the waterfront, it seems like it’s time for the City to update its policies towards floating homes. They promote a sustainable and active lifestyle, and are a draw for tourists – just look at Vancouver and Seattle.
And so, this floating home has been sitting empty and on sale for almost a year. It still needs a few finishing touches, but if somebody wants to buy it and moor it at a marina or private waterway outside of Toronto, they’re free to do so. The bylaw only applies to Toronto. But anybody wanting to buy it and keep it at the Bluffs is out of luck – for now.
If you’re interested in learning more about this floating home, contact me.