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Entertainment District Condos
Entertainment District Neighbourhood
The Entertainment District is bound by Queen Street West, to the north, University Ave to the east, Spadina Avenue to the west, and the Gardiner Expressway to the south. One of its focal points is the Queen and John intersection. This area was once infamously known for being the “club district," but now this particular area has seen as invasion of new residential condominiums being erected.
This area is in close proximity to the downtown core. It is an urban neighbourhood jam-packed with a number of hotels, bars, lounges, nightclubs, restaurants and street level retail. Many of the nation’s most recognizable landmarks are located in this part of the city.
The CN Tower, Ripley’s Aquarium, Rogers Centre, Air Canada Centre, Metro Toronto Convention Centre, Royal Alexandra Theatre, Roy Thompson Hall and Princess of Wales Theatre are just some of the elements that gives this district its name. All of Toronto’s major league sport teams are also based within its boundaries. The area also boasts a vibrant business community located in state of the art office towers and converted historical manufacturing warehouses, office lofts, and studios.
The Entertainment District largely features condos, accounting for 99% of sales, accompanied by other condos at 1%. Condo apartments are the common trend and the majority of properties have one bedroom. The common price in the Entertainment District over the past year was $610,784, an increase of 15% over the same period.
As the area became increasingly known for its high-end condo residences, the stigma of being a clubbing district began to diminish. That revitalization has continued, and the area has become a red-hot location for residential living. High-end condominiums began to sprout up throughout the entertainment district, and old warehouses and factories are constantly being reconstructed into lofts and condos. Even period buildings are being converted into housing. The area continues to appeal to professionals, families, and those seeking homes in the heart of the urban centre.
Being in a prime downtown location, getting around is easy. Access to the TTC and highways make commuting a breeze. The streetcar runs along King Street, Queen Street, and Spadina Avenue, as well as St. Andrew Station on the Yonge-University-Spadina line. The Gardiner Expressway and Lakeshore Boulevard are also easily accessible for those who opt to drive.
Toronto's skyline continues to build up, and in turn this is becoming a more densely populated neighbourhood. In 1996, the core of the Entertainment District had only 750 residents, in 2005 that had gone up to 7,500, but today there are over 23,000 inhabitants here. The current population in the area has significantly increased due to Toronto’s love affair with condominiums. The average household income here is roughly $70,000, and there is a fifty-fifty split between owners and renters. Fifty-seven percent of the neighbourhood consists of single individuals, thirty-five percent are couples, and families make up the remaining eight percent.
This neighbourhood is going through a major redevelopment, one of the largest Toronto has ever seen. The main focus is to create a community that is mixed-use, vibrant, and pedestrian friendly. Ideally the area will be compared to places like the Magnificent Mile in Chicago and Time Square in New York.
The Entertainment District features something for everyone. The area is a red-hot location for residential living, making it an ideal community to live and invest.