Downtown West is Toronto’s most spirited neighbourhood. This neighbourhood’s vitality is due to the fact that Toronto’s Entertainment, Fashion, and Financial districts are all located here. Until recently there were limited residential choices in Downtown West. However, within the past few years the rezoning of King-Spadina industrial buildings into residential lofts, the downtown condominium and townhome building boom, and the huge redevelopment currently underway at the former railway lands have currently made it possible for several additional individuals to measure, work and play in this urban neighbourhood.
Downtown West was originally half of the vast military garrison lands that were established to protect the City of York – the forerunner to Toronto – against attack from the United States. Following the war of 1812 peaceful relations were established with our neighbour to the south and also the garrison lands were sold to the railway, which became a important cog within the booming industry then going down along Toronto’s harbourfront.
By the Sixties a lot of of Toronto’s port-based business had moved north of town, thus rail service dwindled to a trickle. The railway lands — a site sure by the Rogers Centre to the east, Bathurst Street to the west, Front Street to the north, and Lakeshore Boulevard to the south — then lay dormant and derelict for over 30 years while town of Toronto debated what to do with them. In 1998 city council finally approved the sale of the railway
lands, which are currently being redeveloped into a pair of billion dollar condominium development known as CityPlace.
Another re-birth in the Downtown West is the King/Spadina/Bathurst district, which was at the guts of Canada’s garment industry till the first Nineteen Nineties. Currently many of those shop worn buildings are finding new life as stylish loft condominium projects and funky workplace area for the media services, high-tech communications and graphic industries.
New condominium projects have recently been engineered or are underway on Richmond, Queen and Wellington streets and in the King-Spadina area. Several of these comes are midrise loft-vogue buildings. The glitzier high-rise buildings feature sleek styles with brick, glass and metal facades. By far the most important development in the area is going down on the previous railway lands next to the Rogers Centre. This new community is named CityPlace. Over the subsequent several years twenty one condominium buildings will stand on the world bounded by Rogers Centre to the east, Bathurst Street to the west, Front Street to the north, and Lake Shore Boulevard to the
south. When complete, CityPlace — a technologically advanced fibreoptic community — can consist of roughly seven,000 condominium units that will bring around 12,000 new residents to this neighbourhood.
Hertitage home fans should check out the Second Empire and Victorian-vogue homes on Draper Street and therefore the Clarence Terrace townhomes on Clarence Sq..
Toronto’s Downtown West neighbourhood has recently been revitalized by the addition of glamorous new condominium buildings such as Shangri – La Toronto and the Residences At The Ritz – Carlton. Suddenly it’s hip and funky to own a residence in this ultra-urban neighbourhood.
Toronto’s Downtown West is the home of Toronto Town Hall, the Financial District, the Medical and Research Science district, and therefore the Four Seasons Opera House. The Downtown Yonge shopping area, Dundas Square, Toronto Eaton Centre, the PATH underground walkway, Queens Park, the bohemian Queen West shopping district and the TIFF building – headquarters for the Toronto Film Festival are all at intervals walking distance.
Baumeister Von Bretten describes this Downtown West assets market as “a balanced market. Low-rise property like detached, semis and townhomes are briefly provide and hence demand is high. Most people are trying to urge into a condo for easy living and affordability. The typical value of all home varieties in this neighbourhood (principally 1 and a pair of bedroom condo flats) is currently $503,000. The typical list to sale worth ratio is 99p.c, and the common days out there is 18 days.
“Most buyers are wanting for brand spanking new or newer condos with amenities like a fitness centre, roof-top garden and pool. Balconies and views are necessary to folks moreover.” says Baumeister Von Bretten. When asked to call a hot pocket for patrons Baumeister Von Bretten says: “We tend to like King West from University to Bathurst, for easy access to transit and entertainment price including many new high-quality buildings along the means.”
Downtown West Patrons will expect to pay anywhere from $250,000-$500,00zero for a one bedroom condo and $525,000-$1,400,000 for a 2 bedroom condo. This wide selection in value is decided by a range of factors like: square footage, parking, level of finishes, building amenities, balcony, views, and age of building.
Baumeister Von Bretten offers the following recommendation for any homebuyers considering this neighbourhood. “The market is strong and steady in downtown Toronto, costs are up slightly this year and rents are skyrocketing (twentyp.c up) due to restricted availability. Vacancy rates are less than one% and falling. The bottom line says Baumeister Von Bretten is you should “Get in now if trying to shop for within the downtown core. Prices are steadily rising and will eventually reach a purpose of unaffordability, simply like major cities around the globe.”
The stylish Queen West shopping district, the previous world Kensington Market north of Dundas Street and west of Spadina Avenue, Chinatown right on Spadina Avenue, and also the Fashion District, located between Bathurst Street and Spadina Avenue from Front Street north to Queen Street, give a plethora of shopping opportunities for Downtown West residents. Toronto’s underground PATH walkway contains several hidden searching treasures. The PATH can be accessed from many buildings in the Financial District, east of University Avenue as well as: FirstCanadian Place at fifty King Street West, the Toronto Dominion Centre at 55 King Street West, the Design Exchange at 234 Bay Street,Commerce Court at 234 Bay Street, the Royal Bank Plaza at 200 Bay Street, and BCE Place at 181 Bay Street. The PATH, which winds its manner underground along nearly 100 buildings, is 10 kilometres long and is lined with retail shops, services and restaurants.
The Entertainment District, centred along Wellington Street from Spadina Avenue east to Yonge Street, is home to the Royal Alexandra and Princess of Wales theatres. Both host world-class musicals such as the The Lion King and Mama Mia. Simply to the east of those theatres is Roy Thompson Hall, home of the Toronto Symphony Orchestra. The world famous Second Town comedy club is located on Blue Jays Means, across the road from Wayne Gretzky’s restaurant. Festival Hall on John Street is anchored by the large Famous Players Paramount multi-screen theatre complicated which options digital sound, stadium seating and a licensed lounge.
Sports fans are among walking distance of the Air Canada Centre, home of the Toronto Maple Leafs and therefore the Toronto Raptors,and also the Rogers Centre, home to the Toronto Blue Jays and Toronto Argonaut professional sports groups. Before or after a game fans will select from an unlimited array of fashionable bars and restaurants that proliferate throughout Downtown West.
Streetcar lines on King and Queen streets and Spadina Avenue connect to the Yonge-University-Spadina subway line. The Bathurst Street bus links up with the Bloor-Danforth subway line. Motorists are just a jiffy from Lake Shore Boulevard and therefore the Gardiner Expressway that meet up with all the main highways that service the larger Toronto space.