The Distillery District

The Distillery District is a commercial and residential neighborhood in Toronto that is located in the east end of the city. It has a variety of real estate developments which include newly built condos as well as vintage Victorian buildings from the former Gooderham and Worts Distillery. The neighborhood is bordered by Mill Street to the north, Lakeshore Boulevard to the south, Cherry Street to the east and Parliament Street to the west. There is a small group on insightful developers who had a vision for this forgotten piece of land for a long time. What they saw and realized was a series of old heritage buildings that had been once proclaimed as a national historic site and had imagined its potential and what it could be. They soon saw a new community that was vibrant and unlike anything else in the GTA. It was something that would instill pride and joy in the citizens of Toronto. They wanted to create a place that could not only excite but also inspire the senses. As of today, the Distillery District is one of the most popular places in Toronto which is visited by people from all over. Although the neighborhood has a wide array of restaurants as well as shops available, it has something much more than that to offer. Nothing compares to the feeling you get while taking a walk down the historic cobblestone streets and being surrounded by the rejuvenated structures that were once upon a time, the highlight of the city. Since the last couple of years, the neighborhood has also hosted several festivals, one of which is the renowned annual Christmas Market.
The Distillery District mainly consists of condos which account for 96% of the total home sales. The remaining 4% comprises of other types of condos that are available in the real estate market. Condo apartments are the most prevalent here and most of the real estate properties out here consist of one bedroom. The price of condos on an average over the past twelve months is $568,103, which is an increase of 22% over the previous period. The population of The Distillery District neighborhood is an approximate 43,365. Out of the entire real estate properties in the area, 51% of them are owned while 40% of them ae tenanted. The average family income here is $110,684. The modern condo developments with steel and glass combo in the Distillery District contrast with the heritage factory buildings’ industrial brick walls. Some of the common amenities in these condo developments include state-of-the-art fitness center, saunas and media rooms. Besides these, you will also fine outdoor terraces with ho tubs, barbeques, lounge areas and swimming pools. The history of the neighborhood along with its amenities and exclusive dining options, you will not be able to leave the area. Over the last couple of years, the Distillery District has become one of the hottest in the real estate market. The prime location makes this neighborhood go onto many people’s wish list, especially young working professionals who look for proper conveyance and the condo lifestyle. This neighborhood has an exclusive way of charming you from the time you set foot on its premises. It has pedestrian-only enclaves along with cobblestone streets and is regarded as one of Toronto’s hippest address. The Distillery District is an amazing place to work, live and play and is ideal for those who are hooked to the urbane lifestyle.

List of New Condos in the The Distillery District Neighbourhood

Why invest in The Distillery District Real Estate?

When it comes to investment, there are certain factors that determine whether it will be profitable or not. Factors such as location, amenities, transit are some of the main deciding points. The Distillery District is largely in abundance of condo apartments which gives you the liberty of having a lot to choose from. The convenient location of the neighborhood makes it easy to commute to other parts of town. This has resulted in a huge influx of young working professionals. Besides the convenient location and abundance of transit options, the neighborhood is and continues to be a community which who loves to work hard and party hard. This kind of lifestyle is popular among young professionals. While renting out your property you will not have to worry about finding tenants as the area is in huge demand. Survey has also shown that over the last period, there was an increase of 22% in the values of real estate in Toronto. This is all the more reason to invest as you can expect a substantia profit on your investment in a few years’ time. You can also rent out the property and enjoy a consistent monthly income in the form of rent.

Transit Options

Besides its prime location, the Distillery District also offers one of the best transit services that you can find in Toronto. If you live on Parliament Street or Front Street East, you will find bus services right at your doorstep. The King and Queen streetcars too provide you with such convenience. One of the primary transit options available here in the street level is the 514 Cherry which has been running since June 2016. The Distillery loop is the home base for this route and is merely a few minutes away from the heart of the neighborhood. This route helps in connecting to King Street and can further take you as far west as Shaw Street within no time. One of the most anticipated projects coming up is the East Bayfront LRT which has been proposed by the city. Although no completion date has been set yet, once done it will help in connecting this area to the subway system and enable the residents of Distillery District to travel to any part of the city effortlessly. Residents with vehicles who prefer driving to public transportation can avail the Gardiner Expressway or Lakeshore Boulevard which are easily accessible and in close proximity from the neighborhood. Motorists can make use of these highways to help in connecting to Downtown Toronto and other parts of the GTA within no time.

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