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Tag Archives: West Toronto Junction

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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  • 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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  • Davenport

    Dav­en­port is a neigh­bour­hood north­west of down­town Toronto, north of the Cana­dian Pacific Rail­way tracks and Dupont Avenue and south of Dav­en­port Road and the ridge that is the for­mer Lake Iro­quois coast­line. Its east­ern bound­ary is Bathurst Street and it stretches west to Lans­downe Avenue.

    Dav­en­port is rich in his­tory as well as beau­ti­ful homes and real estate. This lit­tle neigh­bour­hood which became estab­lished in 1909, can trace its her­itage to thou­sands of years before this date. Dav­en­port Road fol­lows the centuries-old trail used by the First Nations peo­ples to travel the route south of the ridge. It was also used as an impor­tant route by the early Euro­pean set­tlers to the region.

    The area that is now called Dav­en­port became home to small farms in the early nine­teenth cen­tury. One of the first set­tlers was Ensign John McGill, who built a home he named Dav­en­port in 1797. This was named after Major Dav­en­port, another local offi­cer, and is the ori­gin of the area’s name (the name Dav­en­port is of Nor­man French ori­gin: Dauen-port mean­ing “the town on the trick­ling stream”).

    In 1861 the North­ern Rail­way ran a rail line to the south of Dav­en­port Road and built a sta­tion in the area which they named Dav­en­port. A small vil­lage, also named Dav­en­port, grew up around the sta­tion. In 1889 the vil­lage merged with the nearby vil­lages of Car­leton and West Toronto Junc­tion to form the town of Toronto Junc­tion. In 1909 this was annexed by the City of Toronto itself.

    Like the rest of the area known as The Junc­tion in the early twen­ti­eth cen­tury, the pres­ence of the rail­way lead to the indus­tri­al­iza­tion of the area and many small plants and fac­to­ries were set up in the area along the tracks. The res­i­den­tial areas to the north became home to the work­ing class pop­u­la­tion the worked there, espe­cially Italian-Canadians, who dom­i­nated the neigh­bour­hood and cre­ated the nearby Corso Italia by the 1950s.

    It today remains home to many Ital­ian and Por­tuguese res­i­dents, but since the depar­ture of most of the fac­to­ries in the 1970s and 1980s the area has been some­what gen­tri­fied, tak­ing on some of the char­ac­ter­is­tics of nearby areas like the Annex. New town­house devel­op­ments have been built in the area replac­ing for­mer fac­to­ries and warehouses.

    Dav­en­port has many schools, parks, and fam­ily recre­ation facil­i­ties avail­able to its res­i­dents, mak­ing this a great place to raise chil­dren and live in a family-centreed com­mu­nity. Many parks are within walk­ing dis­tances and Dav­en­port has a won­der­ful recre­ational facil­ity that offers many activ­i­ties for the active per­son to enjoy. Dav­en­port is just min­utes away from down­town Toronto and sec­onds from Corso Italia, mak­ing it easy to com­mute to shop­ping, work, and enter­tain­ment. With many bus sys­tems avail­able as well, it makes it easy for the Toronto com­muter to make this an afford­able place to live.

    This won­der­ful com­mu­nity offers not only a feel of a small town with a great his­tor­i­cal past but offers a great place for peo­ple to live. Dav­en­port real estate is afford­able as the aver­age home price starts around $350,000 -  and with many schools and parks, Dav­en­port is a place to con­sider if you have a fam­ily. Also, with the ben­e­fit of liv­ing within 10 min­utes of down­town, you will find that it offers an easy trip to the down­town core 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.

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


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