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By Lia Grainger

At first glance, The Livmore development coming to High Park this summer looks a lot like a typical Toronto new build. Steps from the TTC station, the property will consist of two 25-storey towers featuring plenty of amenities, including a business centre, a music room, and a fitness centre complete with yoga and dance studio — all the trappings of an upscale condo tower. But the catch is, it isn’t a condo at all. This building, like many in the works in the GTA, is designed to be rental only.

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The Livmore offers everything from studios to three-bedrooms and will be GWL Realty Advisors’ flagship luxury rental.

“We used to say that we were building ‘condo quality,’” says Todd Spencer, the vice president of national operations for GWL Realty, who is overseeing the Livmore. “Today we say that purpose-built rental (PBR) is actually higher quality than a new condo.”

The move toward PBRs has been building momentum. And Camrost Felcorp is another developer which is embracing the trend. The company launched their first rental-only tower One o One, at 101 St. Clair West, two years ago and has three more in the pipeline.