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Tag Archives: toronto neighbourhoods

Downtown Toronto condos: Signs of life

Susan Pigg – Toronto Star

Some Toronto real­tors are see­ing an unex­pected surge in condo buy­ers scour­ing the mar­ket post Christ­mas and the return of a phe­nom­e­non not seen in months – bid­ding wars.

I was shocked,” says ReMax real­tor Peter Krpan who advised one cou­ple, first-time buy­ers, that the soft­en­ing condo mar­ket meant they could take their time and bid low on almost any down­town unit they wanted.

Com­ment: Peo­ple have been think­ing and say­ing that for years, they are never right.

Instead, the cou­ple found them­selves out­bid this month on their first choice, an 800-square foot condo listed for $324,000 on Queen’s Quay.

Their “backup” – an older, 660-square-foot condo on Vic­to­ria St. that had been on the mar­ket for 71 days – sud­denly had three bid­ders and was gone before they could even put in an offer.

Com­ment: A lot of those 71 days, of course, being over Christ­mas and the quiet time of the year. Really, it was only 2 weeks since the mar­ket started up again.

I thought, ‘This can’t be hap­pen­ing. This isn’t in keep­ing with what we’ve been see­ing the last few months at all,” says Krpan.

After a dra­matic soft­en­ing in sales and prices that started last spring and was exac­er­bated by tighter mort­gage lend­ing rules that left many first-time buy­ers on the side­lines, some Toronto real­tors are see­ing some signs of life in a mar­ket that, by Decem­ber, was vir­tu­ally dead.

Com­ment: I said this would hap­pen, that things would pick up in 2013. I pre­dicted this months ago.

Bid­ding wars have also bro­ken out the last two weeks in some prime Toronto neigh­bour­hoods where the inven­tory of houses for sale remains low, such as the west-end Junc­tion Tri­an­gle and the east end Beach.

Com­ment: No sur­prise there are bids on houses, but truly, bids on con­dos sur­prised everyone.

Even the well-supplied condo mar­ket is fac­ing inven­tory issues, say vet­eran condo real­tors. It’s not that there’s a short­age of units, per se, espe­cially given the recent condo boom and the dra­matic soft­en­ing of demand just since spring.

It’s that too much of what’s for sale now are small, poorly laid-out units, aimed at investors, rather than the aver­age buyer, real­tors say.

I think peo­ple who have been stand­ing on the side­lines are real­iz­ing that we’re not hav­ing a crash. We’ve had a lot of clients come out of the wood­work the last cou­ple of weeks,” says down­town real­tor Joanna Kalbarczyk.

Kalbarczyk’s client, a young woman, paid over the $323,000 ask­ing price for the older condo on Vic­to­ria St. that had three offers. She declined to say how much more because the deal is still being finalized.

Real­tors, who have been anx­iously await­ing the nor­mally busy spring mar­ket, are hope­ful this surge means the mar­ket is in pause mode – as it was in the nine months after the 2008 reces­sion – rather than a con­tin­ued decline.

Com­ment: You mean only 3 months. By early 2009 things had picked right back up again.

But no one really knows.

Which is part of the rea­son ReMax has under­taken its first Cana­dian Home­buy­ing Trends Sur­vey, try­ing to gauge who’s buy­ing and how that could impact the over­all hous­ing market.

The sur­vey, released Tues­day, notes that “pur­chas­ing pat­terns have evolved, with a more con­ser­v­a­tive, fiscally-responsible pur­chaser mov­ing to the fore­front,” says Gurinder Sandhu, exec­u­tive vice pres­i­dent and regional direc­tor of ReMax Ontario-Atlantic Canada.

First-time buy­ers are “expe­ri­enc­ing a period of read­just­ment,” says Sandhu, in light of tougher lend­ing rules from Ottawa that cut max­i­mum amor­ti­za­tions from 30 to 25 years and put restric­tions on the types of prop­er­ties the Canada Mort­gage and Hous­ing Corp. will insure where buy­ers don’t have a 20% down payment.

First-time buy­ers will account for about 30% of pur­chasers over the next two years, notes the report.

While the report doesn’t break down local mar­kets, it too con­firms a sig­nif­i­cant shift to the down­town core over the sub­urbs in Ontario, as con­firmed by a TD Eco­nom­ics report, also released Tuesday.

That report, by TD econ­o­mist Fran­cis Fong, notes that double-digit job growth in down­town Toronto from 2006 to 2011 has fol­lowed in the foot­steps of all those folks who are now opt­ing to live down­town, rather than in the sub­urbs, close to tran­sit lines and ameni­ties in what’s now become a vital, vibrant world-class city.

Com­ment: And this is why the strong real estate mar­ket is no sur­prise. Job growth, com­pa­nies mov­ing here, com­mer­cial tow­ers being built, peo­ple want­ing to live near work, totally chang­ing lifestyles. It is awesome!

—————————————————————————————————–
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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  • Toronto’s downtown a neighbourhood of the arts

    David Macfarlane – Toronto Star

    The recent statement of Paul Godfrey, the chair of the Ontario Lottery and Gaming Corp., that Toronto’s downtown is an appropriate site for a casino because it isn’t a neighbourhood, has been clarified, explained, put back into any context from which it might have been unfairly taken, and all but recanted by the man who made it and by those who share his enthusiasm for casinos.

    Still, it seems to me that any attempt to put candour back in the box from which it has sprung is about as useless as trying to recall an email you didn’t intend to send.

    Quite apart from the fact that there are many people who live in condos, apartments, lofts, flats, co-ops, rooming houses, townhouses, duplexes and houses in and around the areas that Godfrey appears to regard – at least in his initial statement – as desert, his observation raises the question of what a neighbourhood is.

    Is it a few streets of homes and lawns and hedges that are customarily kept at least a half-hour car-ride away from the downtown? Is it only where we sleep and keep our barbecues? Or do we, in a city such as Toronto and in a century such as this one, define neighbourhood in a more complex way than what might have prevailed a generation ago.

    I suppose we all define our neighbourhoods differently. But when I stopped to think about it I realized that for me the downtown is the neighbourhood of the arts.

    That’s not the only thing it is, obviously. And of course the downtown is not the only place for the arts. It may not even be the place where the most exciting and innovative arts prevail anymore. But it remains possible in Toronto to go for a walk through the city’s cultural centre, as I did the other day when the weather was so fine. Going for a walk is what people in neighbourhoods often do.

    In our neighbourhood, I stop to tell the busker who is playing outside the ROM that I really like his version of “Tennessee Waltz” and to ask if it is intended as a memorial tribute to Patti Page.

    And in my neighbourhood, I listen to the amazingly good classical guitarist I encounter on a sidewalk four blocks later.

    In my neighbourhood I go to the Angell Gallery on Ossington and the Metivier Gallery on King, and when I walk past city hall, I remember a neighbourhood gathering one September not so very long ago when I stood in a crowd on Nathan Phillips Square listening to the simulcast of the gala concert that opened the city’s new opera house.

    In our neighbourhood, I stop in a bar called Graffiti’s in Kensington Market late Sunday afternoons to hear the excellent Michael Brennan and friends perform, because sometimes there’s nothing better than a good voice, a good song and a few well-played acoustic guitars.

    And when I’m in the neighbourhood, I go to performances of the National Ballet because sometimes there’s nothing better than grand, exquisite beauty.

    Once, in the neighbourhood, I stood with everyone else in Roy Thomson Hall at the end of a late-night performance of Beethoven’s 9th.

    In our neighbourhood, I love the buzz of excitement of an opening night at the Tarragon Theatre or Passe Muraille. And let me tell you: the neighbourhood really comes to life during TIFF, and the International Festival of Authors and Luminato.

    We are a neighbourhood. That could well be Toronto’s motto.

    And if anyone should be leading the protest against the insertion of something as lifeless as a casino into the city’s downtown fabric it should be the leaders of our arts institutions.

    They are the ones who most benefit from a vibrant city. And they are the ones who have the most to lose when, through municipal carelessness and greed, the neighbourhood starts to go.

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    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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  • West Toronto Junction

    West Toronto Junc­tion has man­aged to retain its orig­i­nal small town charm and appeal despite it’s prime loca­tion in Toronto’s bustling west end. Iron­i­cally the same rail­way tracks that skirt this neigh­bour­hood and were respon­si­ble for it growth have seem­ingly also had the dual impact of shel­ter­ing the West Toronto Junc­tion from the wide­spread gen­tri­fi­ca­tion that has taken place in many Toronto neigh­bour­hoods. It is a lit­tle bit off the beat and path but well worth discovering.

    Billed by many as the next West Queen West, The Junc­tion is already attract­ing artists and entre­pre­neurs for its cheaper rents and con­verted indus­trial and ware­house spaces. A raw food restau­rant and organic gro­cer are two recent addi­tions to the Dun­das West strip, join­ing estab­lished res­i­dents like Vesu­vio (touted by fans as the best pizza in the city). The neigh­bour­hood is also turn­ing into some­thing of a fur­ni­ture and design des­ti­na­tion, sport­ing three great shops in Post + Beam Recla­ma­tion, For­ever Inte­ri­ors and Smash.

    Travel a few blocks east and you enter the Junc­tion Tri­an­gle, often taken as a sep­a­rate neigh­bour­hood, squeezed in between the Junc­tion, Ron­ce­valles and Blo­ordale Vil­lage (in the lit­eral tri­an­gle of rail lines bounded roughly by Dun­das, Lands­downe and Dupont). In 2009, a con­test was run to come up with a new name for the area, both to dis­tin­guish it from the Junc­tion proper, as well as to reflect its his­tor­i­cal ties to the railroad.

    West Junction Real Estate Map

    West Junc­tion Real Estate Map

    So named for its loca­tion among four rail lines built in the late 1800s, The Junc­tion has shed its rep­u­ta­tion as a ’hood from the wrong side of the tracks. Thanks to cheaper rents and real estate val­ues, it’s home to bur­geon­ing num­bers of fam­i­lies and trans­planted down­town­ers who have been priced out of the core.

    Close to High Park and Bloor West Vil­lage, The Junc­tion offers the same easy access to tran­sit and reli­ably good schools and its late 19th and early 20th cen­tury homes are more afford­able than its sis­ter neigh­bour­hoods (though the gap is shrinking).

    West Toronto Junc­tion is still afford­able and appeals to a wide demo­graphic from young fam­i­lies, to artists to urban pro­fes­sion­als. This is as true a neigh­bour­hood as you are likely to find in Toronto. It has a strong sense of pride and his­tory, a beau­ti­ful main street shop­ping dis­trict on Dun­das Street West, cher­ished local schools, parks and library, and a diverse pop­u­la­tion that runs the gamut from gen­tri­fi­ca­tion to an edgy urban grittiness.

    The com­mer­cial strip was belea­guered by empty store­fronts in the early aughts, but Dun­das has seen a boom in new busi­nesses (if there’s any doubt as to which direc­tion the dis­trict is head­ing, a Star­bucks recently opened in the area). The north­ern cor­ner is see­ing the devel­op­ment of big-box stores on the site of the for­mer stock­yards at St. Clair Avenue and Weston Road, but the neigh­bour­hood still retains a small-village feel. West of Keele and Dun­das, the streetscape is teem­ing with new restau­rants, inde­pen­dent shops and a con­glom­er­a­tion of stores spe­cial­iz­ing in vin­tage interiors.

    Dundas Street West in the Junction

    Dun­das Street West in the Junction

    West Toronto Junc­tion has some of the finest archi­tec­ture in Toronto. The wind­ing tree-lined streets north of Annette Street fea­ture rich red brick Vic­to­rian houses on gen­er­ous size lots that boast dec­o­ra­tive fea­tures such as roof top tur­rets, whim­si­cal front porches and glam­orous arch­ways. There are some fine exam­ples of Queen Anne and Arts and Crafts style house in this part of the neighbourhood.

    Closer to Dun­das Street the houses are Vic­to­rian in style but much smaller and much less descrip­tive. The lots at the north-end of the neigh­bour­hood are also nar­rower. You will find a that a fair num­ber of the larger houses par­tic­u­larly on the main streets have apart­ments with two or more units which help pay for the upkeep and prop­erty taxes.

    West Toronto Junc­tion began as a rail­way town in the 1870s. A con­ver­gence of rail­way lines oper­ated nearby and opened sta­tions and rai­l­yards, attract­ing man­u­fac­tur­ers and their employ­ers to the area. Many of the houses clos­est to Dun­das Street housed the labour­ers and their fam­i­lies that first set­tled here. Exces­sive drink­ing and row­di­ness led to a pro­hi­bi­tion on alco­hol being sold on Dun­das Street West that lasted until 2000.

    West Toronto Junction Real Estate

    West Toronto Junc­tion Real Estate

    In 1882 an ambi­tious young lawyer named D.W Clen­de­nan in part­ner­ship with his uncle D. J. Laws pur­chased the Carl­ton Race Course prop­erty (the first run­ning of the Queens Plate was held there in 1860owned by the Keele fam­ily. They then reg­is­tered the West Toronto Junc­tion plan of sub­di­vi­sion. By 1884 lots were being sold with ads in news­pa­pers beck­on­ing buy­ers to West Toronto Junc­tion where they would enjoy com­mand­ing views of Lake Ontario and High Park. There were 5 miles of streets paved and over 1500 shade trees planted.

    By 1888 West Toronto Junc­tion had enough res­i­dents to incor­po­rate as a Vil­lage and by 1891 a Town with a pop­u­la­tion of 5,000. Churches, libraries and schools would soon fol­low. Through­out it’s early his­tory the West Toronto Junc­tion expe­ri­enced boom and busts cycles. In 1909 the increased demand for more util­i­ties and bet­ter roads led the ratepay­ers to vote in favour of annex­a­tion with the City of Toronto.

    Once a gritty rail­road town, it was annexed by the City of Toronto in 1909 and remained under the real estate radar for nine decades as a place with “a fierce, inde­pen­dent spirit,” says Mr. Wencer. Since the late 1990s, how­ever, the secret’s been out as artists look­ing for cheap stu­dio space and bargain-hunting hip­ster cou­ples dis­cover its rough charm.

    —————————————————————————————————–
    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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