The Danforth

Better known as “The Danforth” or “Greektown” is the largest Greek neighborhood in North America and is located in the east-end of Toronto. Owing to its close proximity to downtown core, it has become a desirable spot for young professionals. First time home buyers are in for a treat as the neighborhood offers relative affordability and also the convenience of the Bloor/Danforth subway line. The Danforth Community has something to offer everyone when it comes to real estate, be it Victorian era traditional homes, newly built condos or recently renovated modern homes. The real estate market of this neighborhood has recently achieved record sales which is of no surprise. The Danforth comprises of a fairly large swath of Toronto’s east end and the houses here are fairly in close proximity with each other. Because of this, there is more real estate available out here than in most of the other neighborhoods in Toronto. The Greek influence and culture that is prevalent here give out a very warm and welcoming vibe. The community features mostly semi-detached houses which account for 53% of sales. This is followed by detached houses at 41%. Multiplexes, duplexes and townhomes are the least common and account for merely 2% of the total sales. Two-storey houses are most common here and the most of the properties in the neighborhood come with three bedrooms. The common average price of a real estate property over the past year was around $1,209,106 which is an increase of 21% over the same term the previous year. The average freehold price was $1,206,194 over the past year in comparison to the average cost of condos of $940,000 over the same period. The average household income in The Danforth is $109,090 whereas the median is at $80,163.
The Danforth Community offers a wide range of homes which include detached homes, semi-detached homes, two-storey homes, bungalow houses along with mid-rise condominium developments. There are many multi-unit homes in the area that are currently being used as rental units. Most of the properties out here are on quiet streets that are lined with trees and have beautiful front porches. One recent trend that has been observed in the neighborhood is the addition of ‘top ups’ on bungalows, which are basically second storey additions that have a modern flair with contemporary designs that are in contrast to the older houses of the neighborhood. Over the last few years condo townhouses have started to appear too and the community is beginning to see a couple of low to mid-rise condo developments along the Danforth. Some of the new condo developments in the community include prominent names such as Canvas Condos, Linx Condos, 985 Woodbine Ave, 10 Dawes Rd Condos, 9 Dawes Rd Condos, 6 Dawes Rd Condos and Platform Condos. Most of these condos are in their pre-construction phase; however, bookings are open if you intend on getting one for staying or for investment purposes. The Danforth community is an impressive and a highly-coveted one with lawns that are well-manicured along with walkways that are pedestrian-friendly and tree-lined. It also features several local parks and classic architecture. You will also find all amenities available within walking distance without the need for using vehicles.

List of New Condos in the The Danforth Neighbourhood

Why invest in The Danforth Real Estate?

When it comes to the question of whether investment being a good idea or not with regards to this neighborhood, the answer has all along been a yes. There are certain things to factor while deciding this. One of the most important deciding factors is to see whether the neighborhood is desirable for calling it your home. When it comes to The Danforth Community, its close proximity to downtown Toronto make it a popular option for young professionals who need to commute on a daily basis. The Danforth Community also offers various types of housing which include detached, semi-detached, bungalow, two-storey and mid-rise condo developments. Finding a tenant out here will not be an issue considering the rise in population since the last few years. Trends have shown that there has been an exponential rise in the value of properties in Toronto from the last couple of years. As per study, it can go up to even 21% increase in its value over a period of one year. This makes it a good opportunity for investment. By renting it out you can generate income as you will be sure to find young working professionals who prefer to stay on rent rather than buy it out.

Transit Options

One of the best features about The Danforth Community in Toronto is its close proximity to the downtown core and its abundance of public transit. There are numerous transportation options for its residents within the neighborhood which includes five subways stations – Main subway station, Woodbine subway station, Coxwell subway station, Greenwood subway station and Victoria Park subway station. Besides this, there are also two Go Train stations which are the Danforth station and the Main station. You will also find several bus and streetcars in the neighborhood. These services can be availed and accessed along Greenwood Avenue, Gerrard Street East, Woodbine Avenue and Coxwell Avenue. These public transit options provide a daily hassle-free commuting experience for the residents of The Danforth Community. For residents who prefer driving, there are several highways available which can be accessed without any hassle. The Don Valley Parkway is one such highway which can connect you to Downtown Toronto within no time while providing a pleasant driving experience. The Lakeshore Boulevard too helps in connecting you to the downtown core along with other parts of the city. Using these highways not only help you get to your destination faster but also save you from getting stuck in traffic jams. The Lakeshore Boulevard further extends and provides you access to The Gardiner Expressway, which too provides an easy access to the downtown core along with the rest of the city. These highways can also be used to connect to other major parts of the GTA.

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