Downtown Central is one of Toronto’s most densely populated neighbourhoods. It has the advantage of being located within walking distance of the Financial District, the Discovery District, the Hospital District, Toronto City Hall, Ryerson University, the University of Toronto and downtown Yonge Street.
The Bay Street Corridor has evolved into one of Toronto’s prime condo markets which have attracted many young professionals to this neighbourhood. There is a strong international mix of both residents and investors in this neighbourhood thanks to the close proximity of the University of Toronto, the hospital district, and the Financial District. The nearby Bloor-Yorkville and Yonge Street shopping district as well as many amenities along Bay Street add a lot of jump and vitality to this newly gentrified downtown neighbourhood.
Dundas Square, Toronto
Sixty five percent of the people living in this neighbourhood fall between the working ages of 25 to 64! This is well above the Toronto average and sheds some light on the pace of life that exists here. A second boom in construction here began in the 90’s which saw some of Toronto’s most luxurious buildings built in the last 10 years, complete with plenty of glass, glitz and bragging rights. The controversial Trump Tower, one of the tallest in the country, mixes luxury hotel and couture condo living along with some of the most extensive private amenities (and most significant price tags) in the city.
Downtown Toronto residents come from a myriad of different backgrounds, and span the entire spectrum of the socio-economic scale. There is a large number of rental accommodations in this neighbourhood. This reflects the mobility of the population, which is comprised mostly of singles and couples.
Ryerson University is helping to reshape Toronto’s downtown east core having recently purchased landmark buildings to expand their campus. One of these acquisitions is the former Maple Leaf Gardens which has been renamed Mattamy Athletic Centre and now serves as the home of the Ryerson University Sports and Recreation Centre.
New condo developments are springing up all over the Church-Yonge Corridor which is gradually changing the character of this downtown neighbourhood from urban grit to City chic.
Looking at the real estate statistics for this area will reveal a lot about the character of the neighbourhood. The first table is based on the average price of solds for the most recent 30 days only up to March 13, 2018:
Average Sold Price
The second table is based on leases. The are so many of them that this table is based on the average lease price for the most recent 10 days only up to March 13, 2018: