Fashion District Condos
Fashion District Neighbourhood
The Fashion District progressively re-envisions itself while keeping its well-established history. It is effortlessly one of the most colourful neighbourhoods in the city. The area is belted by Queen Street West to the north, Peter Street to the east, Front Street to the south and Bathurst Street to the west. The Fashion District has a fabulous mix of trending heritage shops and boutiques, making it affordable but dynamic. Once a wholesale and manufacturing district, it remains Toronto’s leading source for fabrics.
A stretch of The Fashion District is undergoing a momentous rebirth. A new condo development mixed with retail is being proposed at the corner of Portland Street, along with several retail developments, townhomes, lofts and high-end condominiums have been popping up along Front Street, between Bathurst and Peter.
There is an abundance of newly built condos in the community that range from classically elegant to new age. Rent here is much higher than the norm, partly because of its premium location. There is a great mix of housing available in the Fashion District, both for rent and for purchase. The demographics in this neighbourhood range from young single professionals to couples and young families that are putting down roots, which is contributing to the continuously growing population in the area.
The Fashion District largely features condominiums, accounting for 96% of sales, accompanied by new condo townhouses at 3% and other condos at 1%. Condominium apartments are the most common trend and the majority of properties are one bedroom units. The average rate in the Fashion District over the past year was $591,745, an increase of 15% over the previous year. The average cost for a newly constructed condominium over the year was $591,526 as compared to the average freehold rate of $1,390,000 during the same period.
Public transportation is readily accessible via St. Andrew and Osgoode stations on the Yonge-University subway line. Streetcars also run along Spadina Avenue, Bathurst Street, Queen Street, and King Street. However, this is predominantly a walking community due to its proximity to local amenities. Spadina offers easy driving options for motorists via Lakeshore Boulevard and The Gardiner Expressway.
Condo apartments and houses are not as inexpensive as they once were due to the city core expanding into this former manufacturing sector, but they are nonetheless suitable for their current situation. Townhomes allow more space for young families, and top-of-the line condominium penthouses can still fetch a premium comparable with the most highly priced neighbourhoods in the city.
People who live here enjoy being close to everything, including its endless work opportunities. It has very much become part of the big city, but it still retains its individual neighbourhood pride. Much like the rest of the downtown core, the construction here never seems like it will end, and young families are also an essential part of the ongoing boom as young professionals are putting down roots. If you love the buzz and hype of city living, this is one location where you should consider investing or purchasing a home.
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