New Condos in North Toronto

1. Affordability and Budget Considerations:

As of 2022, the average home price in North Toronto is $1.6 million, with entry-level homes starting in the $1 million range. While this may seem steep, it is important to consider the value of real estate in North Toronto, as the neighbourhood has seen a steady increase in property values over the years. It is also essential to factor in your budget and determine how much you can realistically afford to spend on a home in North Toronto. Working with a reputable real estate agent can help you identify properties that meet your needs and budget.

2. Type of Property and Investment Goals:

When considering purchasing or investing in North Toronto, it is crucial to determine what type of property you are looking for and your investment goals. If you are looking for a long-term investment, purchasing a single-family home or duplex may be a smart choice. If you are interested in generating rental income, investing in a multi-unit property or rental property may be a better fit. Working with a real estate agent who understands the North Toronto market can help you identify properties that meet your investment goals

3. Local Zoning and Regulations:

Before investing in North Toronto, it is important to understand the local zoning laws and regulations that govern the neighbourhood. Zoning regulations can impact the type of property you can purchase, what you can do with the property, and what type of renovations or upgrades are allowed. Understanding these regulations can help you make informed decisions about your investment and avoid potential legal issues down the road.

4. Neighborhood Trends and Future Developments:

North Toronto is a neighbourhood that is constantly evolving, with new developments and trends emerging regularly. Keeping up with these trends and developments can help you make informed decisions about your investment. For example, the northeast quadrant of Yonge-Eglinton will soon be the site of a new luxury condominium tower, which could impact property values in the surrounding area. The redevelopment of North Toronto Collegiate and the TTC Eglinton bus terminal lands are also noteworthy developments that could impact the neighbourhood’s future.

1. Community events and festivals:

North Toronto is home to many community events and festivals that bring together residents of all ages. One of the most popular events is the North Toronto Art Crawl, which takes place in the fall and showcases local artists and their work. Another favourite is the North Toronto Stamp Club, which hosts stamp shows and exhibitions throughout the year. The North Toronto Memorial Community Centre also offers a variety of programs and activities for all ages, including fitness classes, dance lessons, and cultural events.

2. Parks and green spaces:

North Toronto boasts a plethora of parks and green spaces that provide a tranquil oasis in the heart of the city. The Beltline Trail is a popular recreational trail that stretches over 9 km and offers a scenic route for walking, jogging, and cycling. Eglinton Park is another local favourite, featuring a swimming pool, playground, and tennis courts. The neighbourhood is also home to several community gardens, including the North Toronto Community Garden and the Roselawn Community Garden.

3. Restaurants, bars, and cafes:

North Toronto offers a diverse range of dining options to suit all tastes and budgets. For casual dining, residents can enjoy classic pub fare at The Abbot Pub & Fare or savoury pies at The Pie Commission. For a more upscale experience, North Toronto offers a variety of international cuisine, such as French-inspired dishes at Coquine Restaurant or Japanese fusion at Kintako Japanese Restaurant. Coffee lovers can also indulge in a cup of joe at the popular coffee shops such as De Mello Palheta Coffee Roasters and The Mad Bean Coffee House.

4. Schools and educational institutions:

North Toronto is well-known for its excellent schools and educational institutions, making it a popular choice for families. The neighbourhood is home to several highly-ranked public schools, including North Toronto Collegiate Institute and John Fisher Junior Public School. Private schools such as Upper Canada College and The Bishop Strachan School also have a strong presence in the area. Additionally, the neighbourhood is home to several post-secondary institutions, such as The Canadian Business College and The Toronto Film School.

1. Strong Companies Present in North Toronto :

North Toronto is home to several strong companies, including:

1. CIBC – The Canadian Imperial Bank of Commerce is one of the “Big Five” banks in Canada and has its headquarters in Toronto. The bank employs over 44,000 people across the country.
2. RioCan – RioCan is a real estate investment trust that specializes in owning and managing shopping centres and retail properties. The company has several properties in North Toronto, including the Yonge Eglinton Centre.
3. Sunnybrook Health Sciences Centre – Sunnybrook is a leading hospital and academic health sciences centre in Canada. The hospital is located in North Toronto and employs over 10,000 people.
4. Metrolinx – Metrolinx is a provincial transit agency that is responsible for planning and delivering transit services in the Greater Toronto and Hamilton Area. The agency is headquartered in North Toronto and employs over 4,000 people.
5. FreshBooks – FreshBooks is a cloud-based accounting software company that was founded in Toronto in 2003. The company has its headquarters in North Toronto and employs over 300 people.

2. Toronto Job Market Overview:

North Toronto is a thriving neighbourhood with a bustling job market. The unemployment rate in Toronto as of January 2022 is 7.1%, which is slightly lower than the national average of 7.4%. While the pandemic has had an impact on the job market in the city, employment rates have been slowly improving. The city of Toronto has launched several initiatives to support job creation and economic growth, including the Toronto Startup Passport program and the Toronto Innovation Acceleration Partnerships (TIAP) program.

In terms of specific industries, Toronto has a diverse economy that includes finance, technology, healthcare, education, and tourism. North Toronto is particularly well-suited for those interested in the education sector, as the neighbourhood is home to a number of public, private, and separate schools. The area also has a growing tech industry, with several startups and established companies setting up shop in the neighbourhood.

1. Access to Public Transportation:

North Toronto is well-served by public transportation, including the Toronto Transit Commission (TTC) subway, bus and streetcar lines. The neighbourhood is located along the Yonge-University-Spadina subway line, with three subway stations serving the area: Eglinton Station, Davisville Station and St. Clair Station. Eglinton Station is also a major transit hub, with connections to several bus routes, including the Eglinton Crosstown LRT. The neighbourhood is also serviced by several TTC bus routes that run along Yonge Street, Avenue Road and Mount Pleasant Road, making it easy for residents to get around the city.

2. Major Highways and Roads:

North Toronto is well-connected to major highways and roads, making it easy for residents to travel to and from the neighbourhood. The neighbourhood is located near the Don Valley Parkway (DVP) and the 401, two of the busiest highways in the city. Additionally, Yonge Street, one of the city’s main thoroughfares, runs through the neighbourhood, providing easy access to downtown Toronto and other parts of the city.

3. Bike Lanes and Walkability:

North Toronto is a neighbourhood that is easy to navigate on foot or by bike. The neighbourhood has several bike lanes, including the Bloor Street bike lane, which runs through the southern edge of the neighbourhood. The neighbourhood is also home to several parks and green spaces, including Eglinton Park, Sherwood Park and the Kay Gardner Beltline Trail, which is a popular multi-use trail for cyclists, runners and walkers.