New Condos For Sale In Yorkville
Yorkville, Toronto is one of the swankiest neighborhoods in the city. This Toronto neighbourhood is belted by Davenport Road on the north, Yonge Street on the east, Avenue Road on the west, and Bloor Street on the south.
Before we talk about Yorkville condos and amenities, it would be best to mention that Yorkville, Toronto is home to one of Canada’s most unique and high scale restaurants and shopping areas, including the Mink Mile that travels along Bloor Street. This section of Bloor Street is considered to be the 22nd most expensive Street in the world. Rent is roughly $210 per square foot, more expensive than other areas like Yonge Street. Back before the financial crisis of 2008 The Mink Mile rents closer to $300 per square foot, making it the seventh most expensive streets according to Forbes Magazine. It wasn’t uncommon for tenants to see a return of $1500 to $4,000 for every square foot rented.
Then again, the economic bustle in Yorkville, Toronto lies in a list of locations, including Yorkville Avenue, Hazelton Avenue, and Bloor Street. You’ll find restaurants and shopping centers nearby. Yonge Street and Yorkville Ave. are also popular sites for new condo units.
As you can see, Yorkville, Toronto is in fact very exclusive and very desirable. In the past few years, condo developments have been springing up in the neighbourhood. Like their commercial real estate brothers, development in residential real estate, especially condos, are in high demand.
To meet that demand, there will be a great deal of new condo developments springing up in this Toronto neighbourhood over the coming years. These developments in downtown Toronto will not be your average high rise condominium units. As stated above, Toronto demands every building, construction, and development to be ultra-luxurious to meet the clientele and living standards of the area. Of course, that means that the majority of any development or new condos in Yorkville will be on the more expensive scale relative to the rest of Toronto.