King West Village is one of Toronto’s fastest growing neighbourhoods. It has been compared to the Soho neighbourhood in New York. King West Village is particularly in style with young urban professionals, each singles and couples, who want an urban lifestyle close to their downtown offices and among walking distance of Toronto’s entertainment district.
In further to residential choices King West Village conjointly includes: industrial office area, and one in every of the foremost active nightclub and bar scenes in Toronto. The Thompson Hotel located at 550 Wellington Street West has become a standard neighbourhood landmark.
King West Village now has the added cache of being the host neighbourhood for the Toronto International Film Competition that takes place annually in September. This competition attracts mega-stars to premiere screenings and creates a buzz throughout the full neighbourhood and the whole city. The headquarters for the competition is the TIFF Bell Lightbox theatre on King West, that is surrounded by glitzy new condominium buildings that replicate the urbanesque lifestyle enjoyed by residents of this neighbourhood.
King West Village was originally part of the Military Reserves of the City of York – the forerunner to the town of Toronto. Victoria Memorial Sq. – currently a neighbourhood park – was Toronto’s first military cemetery. Within the 1830s the military reserves were auctioned off and a “New City” development was created for this space. Grandiose in concept New City was to be outlined by Clarence Square and Victoria Square that were to be linked by a grand treed boulevard called Wellington Place.
Within the 1850s with the arrival of the railway to Toronto the character of this neighbourhood would change dramatically. King West would evolve as a busy industrial and manufacturing centre. Several of the recent industrial buildings from the 1800s and early 1900s have recently been converted to residential and commercial uses.
By the 1990s most business and manufacturing had detached from King West and the realm was run down and buildings were in neglect. In 1996 the town of Toronto stepped in and enacted the King-Spadina Set up to attract new investment in order to revitalize this area. The plan worked brilliantly as developers began to make new condominiums that catered to young and hip urban professionals. Restaurants and nightclubs were conjointly added to the mix and shortly enough you had the recipe for a very important new downtown neighbourhood currently commonly called King West Village.
King West Village has one of the simplest selection of condominium buildings in the city. These are low and mid-rise buildings. Many of these are designed as soft lofts with units that feature heaps of sunshine and open areas, high ceilings and balconies. Some of those buildings additionally contain two-storey loft condominium townhouses.
There are a handful of authentic hard loft buildings in the neighbourhood, that are characterised by their red brick exterior, large windows and architectural accents. These loft units could have features like concrete floors, exposed wood beams, and exposed brick. There are a few historically designated row homes on Draper Street that date back to the Eighties.
The King West Village neighbourhood has been at the forefront of Toronto’s condominium boom. In reality this neighbourhood owes its exceptional revitalization to the building of condominiums that are snapped up by consumers selecting to live and work in downtown Toronto. Connie Farmer, Sales Representative, Sutton Group Previous Mill Realty Inc., Brokerage brings us up to hurry with King West Village land: “King West Village continues to grow and develop and seems to increase in popularity each year. There is great demand for neighbourhood condos from each initial time buyers and investors. There is additionally a very competitive rental market with low vacancy rates.”
If you are looking for a reasonable entry into King West Village you may want to start out with a 1 bedroom unit. There have been 139 one bedroom units sold this year. Some of those would have included a little den. Sales ranged in value from $260,000-$670,000. The square footage for these units ranges from 400-a thousand sq. feet. Twenty of these one bedroom units sold for asking value or on top of asking refecting the robust demand from 1st time consumers. Farmer says: “The majority of King West Village consumers are young couples and professionals wanting to live downtown within walking distance of their work. These buyers relish the plethora of restaurants and being among walking distance of the waterfront, Queen Sreet West, the Air Canada Centre and Rogers Centre.”
2 bedroom condo sales in King West Village have conjointly been brisk this year with fifty-one sales recorded. These have ranged in value from $450,000-$850,000. Included during this total were three sales for over 1 million greenbacks with one of these being a giant penthouse unit and the opposite a giant three bedroom unit. Overall the common price per square foot for a condo in King West Village is currently between $500-$600.
There is little doubt the condo market in King West Village is sturdy. The stats back this up with units generally selling in just 2 to a few weeks – and many times in just a few days – and with an inventory to sale value ratio of approximately ninety eight%. Farmer points out that King West condos are low-rise to mid-rise that creates a neighbourhood feel that is clearly standard with homebuyers. Farmer adds: “I don’t see the King West market slowing down anytime soon”. Farmer who resides in King West Village says that consumers in her neighbourhood are making a way of life decision furthermore a monetary investment when they obtain a home here.
You don’t have to go away the neighbourhood to furnish your condominium. There are several trendy home furnishing outlets and art galleries in the realm that cater to the tastes of the young urban professionals that live in this neighbourhood. Fitness and lifestyle related businesses have additionally set up look here. Grocery stores are nearby and general stores with all the necessities are readily accessible.
Toronto’s Chinatown district on Spadina Avenue could be a short walk north of this neighbourhood. Food markets are plentiful here. Kensington Market to the north is additionally at intervals walking distance. This recent world market can delight the senses with the sounds of international music and the scent of exotic spices emanating from the eclectic combine of shops and restaurants.
Victoria Memorial Sq. located at Wellington and Portland Streets is Toronto’s 1st military cemetery. A war monument and interpretive plaques during this park commemorate Canada’s fallen troopers. Today, this urban park represents where new lives are starting and new stories are being told.
Clarence Square situated at Spadina Avenue and Wellington Street West could be a residential urban park that harkens back to the Victorian era. Clarence Terrace a row of historic townhouses facing the square from the north provides a nice visual backdrop for this neighbourhood green house.
St. Andrew’s Market and Playground could be a tiny park located at Bathurst Street and Adelaide Street West. It is the first Toronto park to own a playground for kids. The playground and different park features have recently been upgraded.
King West Village is at intervals walking distance of the Toronto waterfront path which is excellent for walking, jogging and bicycling. Sports fans can delight in the very fact that Air Canada Centre and Rogers Centre, the home of Toronto’s skilled sports teams also are within walking distance.
The Arts are also represented here with various galleries and studios nearby and live theatre and musical performances on King Street.
A myriad of streetcar routes on Bathurst and King Streets and on Spadina Avenue will connect passengers to either the Yonge-University-Spadina subway line or the Bloor subway line. Motorists are just minutes from the Gardiner Expressway and Lakeshore Boulevard that link to all the foremost highways leading into and out of the town.