Lawrence Park South Condos
Lawrence Park South Neighbourhood
Lawrence Park South neighbourhood is in North Toronto, and it is a burgeoning market that is about to become red hot. This is because it is imbued with some of the qualities that make Toronto one of the best places to live in the world. One of its most exciting prospects is the incoming Eglinton Crosstown project, which will create new transit hubs in the city as well as catalyze residential and commercial growth.
This neighbourhood is bordered by Lawrence Avenue West to the north, Yonge Street to the east, Eglinton Avenue West to the south and Avenue Road and other residential streets on the west.
This is a mostly residential neighbourhood that has a majority of detached houses, which accounted for 65% of home sales over the past year. The second mostly commonly sold home was condos with 26%, while duplexes accounted 3% of home sales last year. The average home price in the region was $1,801,095, and this can be split up into an average freehold price of $2,907,510 and an average cost of $771,562 for condos.
The public transit in this area is unbeaten throughout the rest of North Toronto, and it’s about to get even better. Its northeastern corner is the location of Lawrence Station, and it also has Eglinton Station on its southeastern corner. Both of these subway stations connect to the TTC’s Yonge/University line, but it’s Eglinton Station that’s about to become one of the most important transit hubs in the city.
The Eglinton Crosstown is set to be completed in 2021, and it’s going to transform North Toronto. This new line will run along Eglinton Avenue, and it is sure to impact the entire street as more residents and businesses will be attracted to the new transit line. It also means that Eglinton Station will become the new nerve centre for the TTC because it will be the transfer station between the Crosstown and Yonge/University lines.
We’ve already seen transfer stations can do to Toronto neighbourhoods. The two most prestigious regions in town are Yorkville and The Annex, which border on Bloor/Yonge and St. George Stations respectively. Coincidence? Of course not!
Even though the home prices in this neighbourhood are above the GTA average, the potential to invest in what could be the next Yorkville is too good to pass up.
While most of Lawrence Park South is residential, it has major commercial streets on two sides. Yonge Street and Eglinton Avenue both have plenty of shopping and dining choices that should be able to provide whatever it is you’re looking for. This all comes to a head at the intersection of the two streets, where the region’s commercial industries are concentrated.
The shopping choices make this a great place for young professionals and millenials who are looking for homes where everything is at their doorstep, but the schools and parks also make this a great choice for young families. The major highlight is Eglinton Park, which is outfitted with numerous sports fields and baseball diamonds, as well as an outdoor pool, indoor skating rink, and community centre. These facilities mean that this park can host almost all types of sporting events.
There are also plenty of schools in the region. The schools peppered throughout the area add to making this the perfect place for young professionals who want to live close to modern urban amenities but are also looking for a safe environment for their children.
Lawrence Park South is the best of many worlds. It has a decidedly residential feel with its wealth of parks and schools, but it is also handy to countless urban amenities that are continuously driving young people to urban centres. Yonge and Eglinton is a veritable urban hot spot and it’s outfitted with some of the city’s best restaurants, stores, and more.
Despite all of these great qualities, the most exciting aspect for investors has to the the pending development of the Eglinton Crosstown. This new transit line is going to revitalize the entire stretch along Eglinton Avenue, and it is also going to create the city’s new transit hub at Eglinton Station. This is your opportunity to invest in the next Yorkville or Annex, so what are you waiting for? Give us a call today!
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