Tag Archives: Aura at College Park
Many of the finest condos in Toronto are along the busy Bay Street Corridor. They’re popular with people employed in the many nearby corporate and financial head offices, hospitals and government offices. The proximity to the University of Toronto makes them a very popular rental for students (and a good buy for investors!).
Living on Bay Street turns downtown into your playground. From Yorkville to the Eaton Centre and Dundas Square, to Kensington Market, Chinatown and a multicultural smorgasbord of restaurants.
Thanks to the recent surge in condo construction, downtown Toronto is becoming a fully fledged residential neighbourhood. Along the Bay Street Corridor, the newest condos are giving the Financial District’s bank towers a run for their money. Among the skyscraping condos are the 65-storey Trump Tower and the 66-storey Shangri-La development – both doubling as luxury hotels. And on the Yonge Street border the 78-storey Aura at College Park tower aims to the tallest residential tower in Canada.
Residing along Bay Street means you will be at the centre of everything. Pride Parade Super Soaker fights in your backyard, TIFF starlets at your favourite restaurant and protests at Queen’s Park overflowing onto your doorstep. Whether you consider these good or bad attributes will certainly dictate whether or not you want to live here. The closest this neighbourhood gets to calm is in the Financial District, around King and Bay, which feels eerily deserted after the nightly exodus of suits.
The name of Bay Street dates all the way back to 1797 – it joined Watts Street (Queen Street West) to a bay in the Toronto Harbor. Bay Street area is now home to four out of the five top Canadian banks. Bay Street is also synonymous with the country’s top law firms.
Condos have been going up on Bay Street for 30 years now. Older buildings across from U of T are popular with student renters, while the new luxury buildings on Charles Street attract international investors. There are 25 major Bay Street condos, most centered between Dundas and Bloor – though some are to the south, such as the new Trump Tower.
In recent years, the price of gas has skyrocketed and Torontonians are looking for affordable transportation options. The City of Toronto began planning developments centered on the idea of urban neighborhoods. The plan was to build affordable condos that would place mass transit, shopping, recreation, and childcare facilities within walking distance.
A reverse exodus from the suburbs to the urban center in Toronto began in earnest in the 1990s. Tired of long commutes on congested thoroughfares, city residents gave up their lives in the suburbs for condos closer to their workplaces.
The Bay Street area is part of the development process that is drawing residents back to the city core. The neighborhood is now full of new condos – people can choose from started units up to luxury condos with great views and big prices. But there are affordable alternatives widely available in the area as well.
Medical residents, students, lawyers, doctors and those in the financial industry will find that living in a condo on Bay Street puts them within walking distance to work and everything else. Yorkville is just north, the subway is just to the east.
Contact the Jeffrey Team for more information – 416−388−1960
Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
They did not write these articles, they just reproduce them here for people
who are interested in Toronto real estate. They do not work for any builders.
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