New Developments in Yorkville
Yorkville, Toronto, is one of the swankiest neighborhoods in the city. This Toronto neighborhood 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 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. According to Forbes Magazine, back before the financial crisis of 2008, the Mink Mile rents closer to $300 per square foot, making it the seventh most expensive street. 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 neighborhood. Like their commercial real estate brothers, development in residential real estate, especially condo assignment sale in Toronto is in high demand.
To meet that demand, there will be many new condo developments springing up in this Toronto neighborhood 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 most development or new condos in Yorkville will be on the more expensive scale relative to the rest of Toronto.
Cost of New Condos
In Yorkville, new condos start upwards of $1,000,000, and others vastly exceed that figure in sales. Some Yorkville condos worth mentioning are Renaissance Plaza, 10 Bellaire, Windsor Arms Hotel, Hazelton Hotel & Residence, Prince Arthur, and the Hazelton Lanes. At the bottom of this article, there will be a list of new condos in development coming soon to Yorkville, Toronto.
Yorkville, Toronto is situated with Davenport in the north, Bloor Street in the south, Yonge Street in the east, and Avenue Road. The latter is part of The Annex, immediately west. Within the vicinity is the University of Toronto campus. There are plenty of business opportunities in the neighborhood as some of the notable companies within Yorkville are IBM, Paramount Pictures, 20th Century Fox film Corporation, MTV headquarters, and the Retail Council of Canada.
Along with Toronto businesses, amenities, and developments, there are many art galleries — 17 to be exact. The list includes Gallery One, Ingram Gallery, Kinsman Robinson Gallery, Gallery Gevik, Drabinsky Gallery, and Mira Godard Gallery. These are in constant development to display new exhibits.
Accessibility Around New Condos in Yorkville
Although the neighborhood location doesn’t have the best access to a subway or any major highways since it’s located in midtown, it’s a fifteen to twenty-minute drive to either Gardiner ExpressWay or Don Valley Parkway. Condo units in this luxury development area have great access to the TTC subway system . Through the subway, you can get to Union station in a relatively quick ten minutes. So you can get to any end of the city from your new Yorkdale condo or property. If you’re planning on visiting neighboring cities, Union station is also home to GO transit.
But if you’re living in any of the units or new developments in Yorkville, Toronto, you don’t have to go far for luxury food, mall sales, and entertainment options. The Royal Ontario Museum is a 5-minute walk depending on your exact location in Yorkville. The ROM does have an event called Friday Nights — where visitors can enjoy a variety of live performances and artists.
Here are some popular new condos in Yorkville: