Yorkville is a one of a kind, upscale neighbourhood in midtown Toronto. It’s name is synonymous with the luxe existence. It is diverse, comprising many office spaces, professional services, residential areas and multitudes of boutique shopping options. It is belted by Dupont Road to the north,Yonge Street to the east, Bloor Street to the south and Bedford Road to the west.
It is certainly one of Toronto's compelling neighbourhoods. It is an eclectic mix of commercial office towers, luxurious condominium buildings, five-star hotels, gourmand restaurants, theatres, a prestigious shopping sector and picturesque Victorian homes. The neighbourhood is an ever rapid developing community and with the constant addition of newly built condominiums, it’s home to a number of Toronto’s most expensive condos units, most starting at over one million bucks and going well beyond.
The neighbourhood largely feature condos, accounting for 81% of sales, followed by semi-detached houses at 7% and townhouses and detached houses at 4% each. Condo apartments are the most common trend and the majority of properties have two bedrooms. The average price in Yorkville over the past 365 days is $1,268,004, an increase of 1% over the same period last year. The average condo premium over the past 365 days is $1,114,544 as compared to the average freehold price of $2,236,892 over the same period.
The economic soul of this neighbourhood is placed on Cumberland Street, Scollard Street, Hazelton Avenue and Yorkville. The transition to a quiet residential pocket is gradual, as Victorian homes shift from retail to residential use in a seamless arrangement . The region is very well maintained and, with a large park inside its core, providing a lovely setting in a bustling busy centre.
Within the heart of the city, it is easy to access all of Toronto. Public transit is right outside your door with easy connection to the subway line. Residing in this community is an entirely convenient alternative, with a whole lot at your disposal, especially when you consider that both the Bloor/Danforth line and the Yonge/University subway line service residents.The subway is a focus point of transit even though there are different bus routes along the northern boundaries. The area is has many main arteries for those commuting by car, the Don Valley Parkway and the Bayview Extension is roughly five minutes away. Therefore getting to and from this neighbourhood is a breeze.
With the make of this neighbourhood being centered toward middle-class to upper-class citizens and being more upscale, its residents’ average income is $60,00 and above. According to statistics, the populace of the area is currently 29,180, despite the fact that it is growing exponentially. 60% is comprised mostly of single individuals, among the ages of 20 - 44. Homeownership in the region is dominantly tenanted at 64%, whereas 36% is owned.
The neighbourhood is enduring a momentous redevelopment, its rising to new heights and is getting ready to grow up; way up. Builders want to implement six residential condo towers, five of which will be fifty storeys tall, into a four block radius, midst Yonge and Bay Streets, from Yorkville Avenue to Bloor Street. The new tower adjacent to Holt Renfrew will rise eighty-three floors, making it the tallest residential building in Canada. This will additionally include the landmark development of “One Bloor”, which will thrust upwards to seventy-six storeys.
In this neighbourhood , beauty and sophistication is fundamental. Shops and restaurants cater to wealth and meets the demand for luxurious brands. There are entrepreneurs, upscale designers, artists, young professionals and often a celeb sighting or three. The area is extremely busy as it’s a famous destination for locals, tourists, shoppers and hopefuls.
Various new condo structures have found homes in the vicinity and are supplying first time purchasers an opportunity to reside here. There is good news on the real estate front, you don’t have to spend a cool million to make this neighbourhood your home. Make this vibrant, ultra chic hood your new place of residence.
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