I don't usually comment unless I have something new to add, but I have to just add my opinion in support of the consensus here. You basically can't go wrong in the downtown core, unless there are particular unusual circumstances. Stay away from 1 King West (I assume that's your No. 3 option) -- too many questions still around this one, including the tax situation as referred to above.
Having said that, you also won't go too far wrong with Willowdale near the subway line. This neighbourhood has matured significantly. Being close to Hwy. 401 doesn't hurt.
Location, location ... but do keep in mind that there are other factors. If you haven't already done so, get a good agent who knows condos. Sounds like you are looking at newer construction, but if you consider an older unit, get the Status Certificate and review it with your lawyer before finalizing anything.
Best wishes.