Waterfront Communities Property Management
Running onto the north shore of Lake Ontario, the Waterfront Communities is where the landing of Toronto ends, and where a hub of commercial and residential buildings, now home to some of Toronto’s most affluent, and trendiest residents.
Recent development and urbanization that has shaken up the area, has seen more than two thousand acres of land being redeveloped, which will create more than 40,000 new jobs. The large workforce will also see more than 36,000 modern apartments and condominiums being built in the next few years.
While the area is tucked at the downtown core, running along the water, ample parks, and outside entertainment is on offer for locals. High-end restaurants, jazz bars, cafes, and trendy eateries create an atmosphere that one won’t easily find in other Canadian cities.
The recent developments have also brought a diverse and mixed group of residents to the core of the city. From artists, musicians, business executives to corporate lawyers and single families – there is a variety of colorful inhabitants that fill the streets of the Waterfront Community.
Information on Waterfront Communities Neighbourhood
During the industrial period of Toronto in the mid-1800s, the area which is now home to high-rise offices and apartments was once a landfill. At the start of the 1970s, local city officials created a restructuring plan that saw the birth of the now luxurious living areas found along the lakeshore.
While not much historical significance contributes to the development and birth of this neighbourhood, today it’s one of the more sought-after communities on the lakeshore. Today, the Distillery District, Fashion District, St Lawrence Market, Billy Bishop Airport, and West Don Lands all form part of the revived Waterfront Communities.
Location and the abundance of tourist attractions are some of the many things that make the area so popular. Home to the most iconic CN Tower, the Toronto International Film Festival, and Toronto Island Park – the area is a constant hive of activity.
It’s not just simple recreational and green spaces that can offer some relaxation, the nearby Fashion District is also one of the more sought-after neighbourhoods that boast upmarket retail and commercial spaces.
Waterfront West Centre or the Harbourfront Centre close to the Harbour is also one of the many sights residents and local businessmen frequent during the day. And depending on where you stand, views in any direction offer a sense of serenity among the hustle and bustle of lower Toronto.
The Waterfront area offers the best convenience for both tourists and residents, with a walk score of 92. The inner city makes it easy for residents to easily get around without the need for a car, or perhaps even public transportation.
A high density of public transportation in the neighbourhood makes it relatively easy to get around. Bus lines 19, 21, 72, and 97 have bus stops among the many roads close to the lakeshore. Train lines LE and LW are also quite easy to access, with Streetcars 509 and 510 for additional access to inner parts of the city. There is also subway line 1 that runs right from the lakeshore area through the city.
For commuters, there is also the Gardiner Expressway accessible through various points along with the Waterfront neighbourhood Area.
Ranked as the fifth-best bikeable neighbourhood in the city, the Waterfront Communities area has an average bike score of 89.
School District Ratings
Surprisingly enough, the schools that are available for residents and families have an average score between 8.4 and 8.9. Some other public schools will score lower, with a score of 4.9 or 6.9 on average.
Some of the schools here include Market Lane Junior and Senior Public School, Jean Lumb Public School, St Michael Catholic School, City School, Bishop Macdonell Catholic School, Oasis Alternative Secondary School, among others.
Average Rent and Sale Prices
Those looking to call this area home would be glad to know that ample apartments and luxury condominiums are available, for rental and sale. A decent, one-bedroom apartment rents for CAD 2,200 per month, while a larger three-bedroom apartment can be rented for CAD 3,899 per month.
Asking prices for larger apartments have been decreasing in recent months, with prices falling around 13% on average. This as demand decreases, and residents who are looking to settle in more suburban areas are migrating out of the Waterfront area.
In terms of real estate prices, the average asking price comes close to CAD 776,000 for a decent two-bedroom apartment overlooking the harbor area. Annual changes in prices for sales have been relatively low, with a 6.4% change year over year.
Homes stay on average 17 on the market, with ample listings being available during each new rotation.
Investing in Waterfront Communities
New condominiums and condos have become very lucrative investments in recent years. Some condos, in high luxury buildings, are currently available between CAD 778,000 to CAD 999,000. These all consist of one to two-bedroom buildings, with sizable living spaces.
Buttonwood Property Management
With so many investment opportunities available in the area, Buttonwood Property Management allows new investors and residents to find the best property for their needs, both residential and commercial spaces.
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