New Condos in Downtown Toronto

1. Affordability and Budget Considerations:

As of 2022, Downtown Toronto’s housing market has been experiencing an upward trend, with the average selling price for all home types reaching $1,129,889. However, the average price for a condominium in the downtown area is lower at $682,447. It is important to have a clear understanding of your budget and affordability, as well as considering additional expenses such as maintenance fees, property taxes, and utility bills when investing in this neighbourhood.

2. Type of Property and Investment Goals:

Downtown Toronto is predominantly a condominium market, accounting for 92% of all home sales. However, there are still options for townhomes, lofts, and other types of properties for those who prefer something different. It is important to consider your investment goals, whether it be for personal use or rental purposes, as well as the type of property that aligns with your lifestyle and preferences.

3. Local Zoning and Regulations:

Downtown Toronto has seen significant development over the years, with new buildings constantly being built. It is important to research the local zoning and regulations, especially if you are considering investing in a new development. The City of Toronto has implemented policies to promote sustainable development, including height restrictions and green standards. It is important to familiarize yourself with these policies to ensure your investment aligns with the city’s vision for the neighbourhood.

4. Neighborhood Trends and Future Developments:

As of 2023, Downtown Toronto continues to attract a diverse demographic, including young professionals, students, and families with children. It is important to research the neighbourhood trends and future developments to determine if it aligns with your investment goals. Downtown Toronto is expected to continue experiencing growth, with new developments such as The One and 80 Atlantic expected to be completed in the next few years. It is also important to consider the neighbourhood’s amenities, including shopping, dining, and entertainment options, as well as access to public transit and green spaces.

1. Community events and festivals:

Downtown Toronto is a vibrant and dynamic neighbourhood that offers a wide range of community events and festivals throughout the year. From music festivals and food events to cultural celebrations and sporting events, there is always something to see and do in this lively neighbourhood.

Some of the most popular events include the Toronto International Film Festival, Pride Toronto, the Canadian National Exhibition, the Toronto Caribbean Carnival, and the Santa Claus Parade. These events attract millions of visitors each year and provide an excellent opportunity to experience the energy and diversity of downtown Toronto

2. Parks and green spaces:

Despite being a bustling urban centre, downtown Toronto offers a variety of parks and green spaces that provide a peaceful escape from the city’s hustle and bustle. Some of the most popular parks include:

• Allan Gardens: This historic park is home to a conservatory that houses rare and exotic plants from around the world.
• Queen’s Park: This park is home to the Ontario Legislative Building and is a popular spot for picnics and outdoor activities.
• Grange Park: This newly renovated park features a playground, splash pad, and a public art installation.
• Harbourfront Centre: This waterfront park offers stunning views of Lake Ontario and hosts a variety of cultural events throughout the year

3. Restaurants, bars, and cafes:

Downtown Toronto is a food lover’s paradise, with an endless array of restaurants, bars, and cafes to choose from. Whether you’re in the mood for a casual brunch or a gourmet dinner, there is something for every taste and budget.

Some of the most popular restaurants include:

• Canoe: This upscale restaurant offers stunning views of the city from its 54th floor location in the TD Bank Tower.
• Pai Northern Thai Kitchen: This trendy restaurant serves up authentic Northern Thai cuisine in a stylish setting.
• Pizzeria Libretto: This popular pizzeria is known for its wood-fired pizzas and authentic Italian flavours.
• Bar Isabel: This cozy Spanish tapas bar offers a wide range of small plates and craft cocktails.

4. Schools and educational institutions:

Downtown Toronto is home to a variety of schools and educational institutions, making it a popular choice for families with children. Some of the most notable schools include:

• University of Toronto: This prestigious university is ranked among the top 20 universities in the world and offers a wide range of undergraduate and graduate programs.
• Ryerson University: This innovative university is known for its programs in media, communications, and technology.
• George Brown College: This community college offers a variety of certificate and diploma programs in fields such as hospitality, culinary arts, and design.
• Toronto District School Board: This public school board operates a number of schools in downtown Toronto, offering a variety of programs for students of all ages.

1. Overview of the job market in Downtown Toronto and Toronto

The job market in Toronto is diverse, and Downtown Toronto is no exception. According to a report by the Toronto Regional Real Estate Board, the unemployment rate in the city was 6.3% in 2021, down from 10.7% in 2020. The report also indicated that the city’s economy is expected to grow by 6.7% in 2022, providing further job opportunities for residents.

In Downtown Toronto, the most common industries for employment are finance, insurance, and real estate. The area is home to some of Canada’s largest banks, including the Royal Bank of Canada, the Bank of Montreal, and the Canadian Imperial Bank of Commerce. Other major employers in the area include law firms, technology companies, and healthcare providers.

2. Strong companies present in Downtown Toronto :

1. Royal Bank of Canada (RBC)  : As one of the largest banks in Canada, RBC has a significant presence in Downtown Toronto. The company offers a wide range of employment opportunities in areas such as banking, finance, and customer service. In 2021, RBC was named one of Canada’s Top 100 Employers for the eighth year in a row.
2. TD Bank Group : TD Bank Group is another major Canadian bank with a significant presence in Downtown Toronto. The company employs over 85,000 people globally and offers a wide range of employment opportunities in areas such as retail banking, wealth management, and investment banking.
3. Deloitte :  As one of the world’s largest accounting and consulting firms, Deloitte has a strong presence in Downtown Toronto. The company offers employment opportunities in areas such as audit and assurance, consulting, and tax services. In 2021, Deloitte was named one of Canada’s Top 100 Employers for the 17th consecutive year.
4. Shopify :  Shopify is a Canadian e-commerce company that provides a platform for online stores. The company has its headquarters in Ottawa, but also has a significant presence in Downtown Toronto. Shopify offers a range of employment opportunities in areas such as engineering, product management, and marketing. In 2021, Shopify was named one of Canada’s Top 100 Employers for the third year in a row.

1. Access to Public Transportation:

The downtown core is served by the Toronto Transit Commission (TTC), which operates bus, streetcar, and subway routes throughout the city. The three major subway stations in downtown are King, Queen, and Dundas, with many other stations in close proximity. The Union Station is also located in the heart of the downtown core, serving as a hub for GO Transit and VIA Rail. The TTC also provides a reliable late-night service for those who work or want to explore the city after dark.

2. Major Highways and Roads:

Downtown Toronto is surrounded by major highways, making it easily accessible for drivers. The Gardiner Expressway runs east-west along the waterfront, providing a direct link to the Don Valley Parkway, which connects to the 401 Highway, one of the busiest highways in Canada.

3. Bike Lanes and Walkability:

Bike lanes in downtown Toronto have been expanding in recent years, making cycling a popular and environmentally-friendly option for commuting or running errands. There are many bike lanes throughout the downtown core, such as the Richmond/Adelaide Cycle Track, the Bloor Street Bike Lane, and the Wellesley Street Bike Lane. The city also operates a bike-sharing program called Bike Share Toronto, which provides an easy and affordable way to get around the city.