Humber Bay Condos
Humber Bay Neighbourhood
Humber Bay is a quaint, middle income neighbourhood bounded by Humber River Valley on the east, Mimico Creek to the west, Barry Road to the north and Lakeshore Boulevard to the south. With plenty of green space and a strong sense of community, Humber Bay offers many luxuries of a downtown Toronto neighbourhood, without the costs of a downtown condo or townhome.
There are many high-rise condominium buildings that enjoy beautiful views of Lake Ontario. It has improved pedestrian connections with expanded sidewalks, while also enhancing its public areas with a variety of shops, services, restaurants, and community amenities that are situated along Marine Parade Drive.
More recently developed areas of the neighbourhood include a selection of split level homes, bungalows, newer custom designed homes, multiplex dwellings, and low-rise to mid-rise apartment buildings. With major re-development now taking form, many towering luxury condominium communities are being built in this idyllic waterfront location.
Humber Bay largely features condos, accounting for 87% of sales, accompanied by detached houses at 6% and other condos at 5%. Condo apartments are the common trend, and the majority of properties have 2 bedrooms. The common price in Humber Bay over the past year was $560,065, an increase of 14% over the same term. The average cost of condos over the past year was $535,963 as compared to the average freehold price of $1,061,451 over the same period.
The influx of new condominium developments in the area will allow the current population of 10,775 to increase significantly over the next few years. Builders look for that critical mass to support a successful development because they need to be sure that it can sustain the services, shops and amenities that will accompany the condos. The Stonegate Plaza on Berry Road is the primary source of shopping for this neighbourhood.
Bus service is readily accessible on Berry Road, Park Lawn Road, and Stephen Drive. These routes connect passengers to the Old Mill Station on the Bloor-Danforth subway line. The Queen Street streetcar travels along the Queensway until the Humber River, then it switches south along Lake Shore Boulevard. Motorists can easily get downtown via the Queensway. For commuters travelling outside the city, Lake Shore Boulevard is just a short drive from here and can be accessed off Park Lawn Road.
This region is also the home of Sheldon Lookout. This famous observation point offers some of the best views of Downtown Toronto. From here, you can see the entirety of the downtown core, and the area is particularly beautiful during sunrise and sunset as the crimson skies give the city a whole new personality.
Even as residents continue to enjoy the alluring designs of Humber Bay's high-rise communities, the area continues to transform. It will end up being a little city all its own in a few short years. Living farther from the core also means buyers can get more floorspace for their dollar, and they're also not in the chaos of the city. The community will have undergone a metamorphosis from its inglorious past.
There has never been a better time to purchase your own property. This is a great opportunity for investors who are looking to enjoy rental income from their residential properties.
Here, the choices are abound and the pricing is very competitive. The Humber Bay neighbourhood is also a fantastic option for young couples or professionals looking to invest in their first condo in a trendy neighbourhood.
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