The record number of new Condos in certain areas of Toronto is revitalizing these neighbourhoods and playing a key role in transforming them into rich communities of services and convenience.
According to Urbanation sales data, several areas of Toronto have seen significant changes over the last several years. I think we all can recall areas of Toronto just a short time ago when there were no Condos and now these same areas are like small upscale villages with restaurants, movie theatres, offices and Transit.
Downtown East: Prior to 1996, there were 24 Condominiums constructed with 3,200 units between Don Valley Parkway and Yonge St. making a total of 4,800 full time residents. From 1996 to 2006 , 33 Condos were completed in the St. Lawrence Market area, with 4,500 units and 6,700 more residents for a total of 11,500 new residents. New stores, designer shops, art shops and upscale restaurants are all moving into this area. The Distillery District is the latest area here and it continues to expand as well becoming a destination not only for filming but also to visit and enjoy all the original buildings from the past.
Harbourfront: Before 1996 there were 13 Condominium buildings with close to 4,000 units with 5,900 residents along Queens Quay West running from Yonge St., to Bathurst St. Again in the next 10 years 13 new Condos were added with 4,300 more units added with an additional 6,400 residents for a total population of 12,300 residents. This has resulted in Harbourfront becoming a year-around destination with programs and activities to suit everyone from sailing in the summer to out door skating in the Winter.
Entertainment District, Queen West, Cityplace: Before 1996, 15 Condominium buildings with 1,600 units and 2,300 residents West of University to Portland St., and south of College St to the Gardiner Expressway. This grew to 34 more Condos with 6,300 units and a total of 9,300 residents with the total population in this area of 11,700. This five-fold increase has resulted in a complete change from the original factories and warehouses that originally made up this district. Theatres, shops, retauarants and bars are the biggest attractions here.
King West, Liberty Village, Queen West: Again before 1996, 7 Condos with 1,100 units and 1,600 residents were built here, From 1996 to 2006 24 new Condos were constructed with 2,700 units and 4,100 residents. A total of 5,700 new residents now live in this developed area still close by streetcar to downtown.
North York City Centre: 20 Condominiums with 4,200 units and 6,300 residents were found here prior to 1996. Between 1996 and 2006 52 new condominiums were constructed with 13,000 units and 19,300 residents for a total of 25,600 residents. Traffic in the area is just like Toronto’s downtown and again there are many different restaurants, bars and theatres in this area. Condos along Yonge St., have great access to the Subway and also to the 401 Highway.
Mississauga City Centre: Before 1996 we find 18 Condos with 4,500 units and 6,700 residents in the Burnhamthorpe Road, Square One and Hurontario St. From 1996 to 2006 12 additional condos were constructed with 4,400 units and 6,600 residents making a total of 13,300 new residents. Over the next three years an additional 14 buildings are scheduled for completion with a total of 4,700 units and 7,000 new residents. Included in these new projects is the Marilyn Monroe Condo. Again this Mississauga City Centre area brings a YMCA, library, a thriving arts scene, galleries and restaurants.
We can see that new Condos are revitalizing Toronto’s neighbourhoods bringing growth and change to wide areas of the GTA. Purchasers of new and resale Condos now have a growing choice of locations and prices in a very stable Condo market for now and in the near future when new projects are completed.
My Toronto Real Estate website has listings of Toronto Condos in these areas.
