Tag Archives: high rises
Toronto Real Estate Neighbourhoods
Toronto is often called “the city of neighbourhoods” because of the strength and vitality of its many communities. The city has upwards of 240 distinct neighbourhoods within its boundaries. Before 1998, Toronto was a much smaller municipality and formed part of Metropolitan Toronto. When the city amalgamated that year, Toronto grew to encompass the former municipalities of York, East York, North York, Etobicoke, and Scarborough. Each of these former municipalities still maintains, to a certain degree, its own distinct identity, and the names of these municipalities are still used by their residents. The area known as Toronto before the amalgamation is sometimes called the “old” City of Toronto, “Toronto proper”, the Central District or simply “Downtown”.
The “former” City of Toronto is, by far, the most populous and dense part of the city. It is also the business and administrative centre of the city. The uniquely Torontonian bay-and-gable housing style is common throughout the former city.
The Old Toronto refers to the City of Toronto and its boundaries from 1967 to 1997. It is sometimes referred to as the “South” or “Central” district, and includes the “downtown core”. Some of these names such as “The Fashion District” are (or were) used as marketing for the areas or by BIAs; this area is actually called “King-Spadina” by locals. Another example is the “Old Town of York”, known also as “King and Parliament”.
The “inner ring” suburbs of York and East York are older, predominantly middle-income areas, and ethnically diverse. Much of the housing stock in these areas consists of old pre-war single-family houses and post-war high-rises. Many of the neighbourhoods in these areas were built up as streetcar suburbs and contain many dense and mixed-use streets. Mostly they share many characteristics with sections of the “old” city, outside of the downtown core.
East Toronto, Ontario (Incorporated 1888, annexed by Toronto in 1908) was an incorporated community in what is today a part of the city of Toronto, Canada. It covered much of what is today the Upper Beaches neighbourhood, stretching up to Danforth Avenue in the north. The central street in the community was Main Street, running south from Danforth to Kingston Road. The main commercial centre of the town was located at the intersection of Main and Lake View (now Main and Gerrard). As Toronto’s true main street was named Yonge, the name Main Street was maintained even after amalgamation with the city of Toronto. This explains why Toronto’s “Main Street” is far from the city centre.
East York, located north of Danforth Avenue between the Don River and Victoria Park Avenue, developed contemporaneously with the West End of the old City of Toronto, and is similar in form and character. It is currently administered as part of old Toronto. However, until 1997, it was an autonomous urban borough.
The “outer ring” suburbs of Etobicoke, Scarborough, and North York are much more suburban in nature (although these boroughs are developing urban centres of their own, such as North York Centre around Mel Lastman Square).
For administrative purposes, the City of Toronto divides the city into 140 neighbourhoods. These divisions are used for internal planning purposes. The boundaries and names often do not conform to the usage of the general population or designated business improvement areas. A number of neighbourhood maps of Toronto do exist, some produced by real estate firms and some by internet portals. A project to map the neighbourhoods according to the common usage of the residents was done by the Toronto Star newspaper. Based on feedback from Star readers, it has produced the most comprehensive, albeit informal, Toronto neighbourhood map.
After the update of Toronto Multiple listing service (MLS) on July 5, 2011, the Toronto Real Estate Board (TREB) introduced a new searching mechanism for the Toronto MLS, used by real estate agents operating in the region. MLS searches can now be refined at three levels and MLS users can search houses by area, then by municipality, and then by neighbourhood or community. It uses Bing Maps. This was the first change of this magnitude in about 50 years of Toronto MLS history. Even if many are upset by the name of the area they live in!
The change was designed to eliminate the obsolete coding systems whereby Greater Toronto was divided into 86 artificial districts denominated by alphanumeric codes. Due to the growing population in the city and the increasing difficulty of browsing the code-based system, TREB made this radical change which is intended to simplify the use of MLS for real estate agents as well as home buyers.
Because Toronto is an enormous municipality of its own, the core city area will continue to be split into coded districts, although each of the districts will in turn contain neighbourhoods. Hence, the City will be easily searchable as well.
—————————————————————————————————–
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.
—————————————————————————————————–
Incoming search terms
Toronto’s luxury condo prices rival New York’s
A view of Central Park, however, is not included
Erica Alini – Macleans
Imagine you had $4 million to spend on a new downtown home. In New York, one of the world’s great cities, you could buy a three-bedroom, 2½-bathroom apartment on the edge of Central Park. If you were feeling more frugal you could move a couple of blocks away and snatch up a penthouse with a full view of the park for less than half the price, $1.5 million.
Or you could spend the money on a three-bedroom, four-bathroom suite at the Residences at the Ritz-Carlton with a full view of… Toronto. A two-bedroom, two-bathroom suite in the same building costs as much as that New York penthouse, and a survey of the Multiple Listing Service shows over 100 condos in Toronto selling for $1.5 million or more (134 to be exact, I checked).
Comment: And what are the sizes of the units? How current are the finishings? How about averages? Or are you just cherry-picking a couple to make a point that is not quite right? You need to compare apples to apples, cost per square foot and similar aged buildings. Then you know how they stack up. This comparison is flawed to begin with.
The multi-million-dollar New York price tags for some condos in Canada’s biggest city speak to a dangerously overheated market, say some observers. In Ontario, construction of multiple urban units (which mostly means condo buildings) was up a staggering 50% in March from the previous month. In Toronto alone, there are nearly 48,000 units under construction. In 2011, the city counted 132 residential high-rises under construction—more than New York, Chicago, Miami, Boston and Dallas combined. Later this year, that number is expected to reach 189, according to housing market analyst Ben Rabidoux.
Comment: Because we have 4,000sf condos with prices over $1.5 million, that makes us over heated? How does the cost of 100 condos related in any way to the number of units in total being built? You are just throwing random numbers around trying to scare pe0ple.
For some, the cranes that have taken over parts of the city skyline are a sign of a large unmet demand for housing, driven by a growing population and urban policies meant to constrain the city’s horizontal development in favour of building upward. Others, though, see a bubble market that is headed for a bust.
Comment: Yeah, because 4% per year is INSANE. After inflation, resale condos are going up 1.5%. How is that even remotely like a bubble?
In the first three months of this year, resale prices for condominium apartments have fallen for the first time since 2009, says Rabidoux, adding: “It’s potentially a disaster waiting to unfold.” If that happens, a few buyers will no doubt regret spending New York prices for a Toronto condo. But at least they’ll have the bragging rights of a Ritz-Carlton address—and plenty of bathrooms.
Comment: Uh, no, condo prices did not fall. In April they were 4% higher than 2011. Not sure where they got that from…
—————————————————————————————————–
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.
—————————————————————————————————–
Incoming search terms

















