Formerly a large commercial and industrial area, Toronto's Waterfront is now being converted to some of the sleekest condominiums and residences in the city. With spectacular views of Lake Ontario and Toronto's Harbourfront Centre nearby, this bustling port has family activities, music festivals and courses and workshops for everyone. Surrounding Queens Quay and stretching from the Don Valley Parkway to the east and Bathurst Street to the west, this Toronto neighbourhood features access to some of the main transportation hubs in the city. Minutes away from Union Station and a number of major streetcar routes including the 509 Harbourfront, this Toronto neighbourhood provides easy access to anywhere in the city.
Business and Entertainment District:
Toronto's Business District's approximate boundaries of Queen Street West to the north, Front Street to the South, the Yonge Street to the East and Spadina Road to the west, creates the city's largest area of skyscrapers and businesses, plus provincial and municipal government buildings. The Financial District at the intersection of Bay Street and King Street is the core of the country's financial industry and includes the Toronto Stock Exchange.
The downtown area located along Yonge Street from Dundas Street to King Street is Toronto's main retail hub. This includes the Toronto Eaton Centre, with approximately 600 retail stores, 150 bars and restaurants and 7 hotels. Dundas Square, also located in this area, is a public square which has its own movie complex and hosts many free cultural events.
Also included in this area are live theatres and many historical sites such as Massey Hall, the old Maple Leaf Gardens, the Old City Hall, Church of the Holy Trinity and the Toronto Police Museum.
West of the Financial District is the Entertainment District. It is located at King Street West between University Avenue and Spadina Avenue. Formerly an industrial area, it is now a main centre for entertainment. It offers hundeds of restaurants, night clubs, sporting facilties, boutiques, hotels, attractions and live theatre. It is also home to Toronto's four major-league sports teams. This area is also famous for the Mirvish family's renovated Royal Alexandra Theatre and construction of the Princess of Wales Theatre. Roy thompson Hall and the Canadian Broadcasting Centre are also located here.
To the south is Harbourfront. Home to the Rogers Stadium, numerous condominiums and the Harbourfront Centre waterfront revitaliation project, Harbourfront also offers many unique shops and restaurants along the water front as well services for boaters such as docking, marinas, tours and charter boats.
Real Estate in Toronto's Business and Entertainment Districts
Toronto's Business and Entertainment Districts have become home to many condo residences both old and new. We have seen many new projects rise over the past 5 years. This area offers many distinct types of condos from your basic old-fashioned style to newer boutique condos to luxury buildings offering all amenities. We have seen both end-users and investors flock to buy these units whether through resale or pre-construction. We have seen the price per square feet grow by as much as 40%. In this area $1000 - $1200 per square foot is not unusual in the high-end luxury condos, but most buildings range from $600 to $700 per sq ft.
The Business and Entertainment Districts offer every type and style of condos from no amenities at all to some of the new buildings offering spas, pools, gyms, even restaurants and bars and pet spas. Condominium developers are offering different 'lifestyles' to suite different buyers' needs, from the first-time buyer, investor, empty-nester to those wanting a pied-e-tierre or to live/work.
The buyers and renters are from all age groups. They tend to be white-collar business people who work in the downtown core, do not like to commute and want to walk to all amenities. The demand for this area continues to be very high and both end-users and investors have found their condo purchases to be wise investments.
Bay Street Corridor:
Bay Street, formerly known as Bear Street due to frequent bear sightings, is now Canada's business capital. Containing Toronto's financial district, Bay Street Corridor is a bustling hub of activity. One of the most densely populated neighbourhoods in the city, Bay Street Corridor is also home to the PATH, Toronto's underground walkway and is bordered by Bloor Street and Front Street to the north and south and Yonge Street and University Avenue to the east and west. An upscale neighbourhood, there are a number of classy restaurants, trendy shops and luxury condominiums located in the Bay Street Corridor. A transportation hub, this Toronto neighbourhood contains Union Subway Station, the Go Train Station, and is located minutes away from the Gardiner Expressway. With the limitless amenities, condominiums, and accesibility you're sure to find a property that suits any real estate need in the Bay Street Corridor.
Toronto real estate, like any real estate, is all about location, location, location! The Bay Street Corridor is ideally located and because of this, condo prices may be slightly higher than other areas of the city. For example, a luxury penthouse in the Bay Street Corridor can cost upwards of $2-million. There are much more affordable resale condominiums in the Bay Street Corridor starting at $340 per square foot. With a high density and condos reaching to the sky, living in the Bay Street Corridor means living in the centre of everything. The neighbourhood is a great place for singles as 66 per cent of residents are unattached and 49 per cent fall between the ages of 25 and 44.
In terms of pricing, a condo in the Downtown Toronto area will cost you an average of: