Yorkville

Yorkville is a unique, one of a kind, upscale neighborhood in midtown Toronto. The name is synonymous to its luxe appeal. It is a diverse commuting and comprises residential areas along with several office spaces, professional services and a vast array of boutique stores. It is bordered by Yonge Street to the east, Bedford Road to the west, Dupont Road to the north and Bloor Street to the south. Yorkville has emerged as one of Toronto’s most compelling neighborhoods in the last couple of years with major intersections such as Yonge and Bloor along with Bay and Bloor. The area is an eccentric mix with an abundance of luxurious condominium buildings, commercial towers, theatres, shopping centres, gourmet restaurants, five-star hotels and beautiful Victorian homes. Yorkville is a constantly developing community with new condo developments coming up every now and then. This neighborhood is home to Toronto’s most expensive condo units, some of which start at over a million dollars and go well beyond. Condos are the most common type of houses in Yorkville and account for 81% of the total home sales in the area. This is followed by semi-detached houses which account for 7% of the total sales. Townhouses and detached houses are the least common and account for only 4% each. Condos are the most common trend in Yorkville with the maximum of the properties consisting of two bedrooms. This neighborhood’s configuration caters toward the middle to upper-class citizens and can afford to go even further in upscaling. The population of the neighborhood is currently 29,180 as per statistics and is rising exponentially. Approximately 60% of the population in Yorkville comprises single individuals who are aged between 20-44. Homeownership in Yorkville favours tenancy with 64% of the properties being tenanted while the remaining 36% of the homes are owned.
Cumberland Street, Hazelton Avenue, Scollard Street and Yorkville Avenue make up the economic soul of Yorkville. The transition of the neighborhood into a quiet residential pocket is gradual as you can see Victorian homes shifting from retail units to residential units. The neighborhood is very well maintained and also features a large park within its boundaries which provides a naturesque escape for its residents. Yorkville is going through a redevelopment phase which will witness a rise in the population. Builders and developers have planned to implement six new residential condominiums, out of which five are slated to be at least fifty storeys tall, into a four-block radius. The One Bloor, which is adjacent to Holt Renfrew, will be the tallest residential building in Toronto and will rise up to 85 storeys. Beauty and sophistication are fundamental in this neighborhood. Shops and restaurants out here cater to wealth, who meets their demand through luxurious brands. The neighborhood features entrepreneurs, artists, upscale designers, young professionals and often a few celebrities. The area is a hotspot for locals, shoppers and tourist, making it an extremely busy neighborhood.

List of New Condos in the Yorkville Neighbourhood

Why invest in Yorkville Real Estate?

When the question of investment arises, there are several factors to consider before making up your mind. These things include basic requirements such as the location, accessibility and the availability of amenities around. Yorkville is one of the finest neighborhoods in Toronto and meets all requirements, making it one of the most lucrative places to invest in. For starters, the location of the neighborhood is convenient for commuting, making it ideal for working professionals and even other residents who need to commute on a daily basis. The central location also allows working professionals to save time that is spent on commuting. Moreover, the central location of the region also makes it convenient for working couples who need to travel in opposite directions for work. When it comes to amenities, Yorkville is one of the best neighborhoods to live in as you will find all your needs just within a few steps from the comfort of your home. Be it daily groceries, shopping, entertainment, restaurants or even pubs, you will find the streets lined up well, providing you with several options to choose from. The area is very walkable and does not require any vehicle for running daily errands. Though Yorkville is a posh neighborhood and the prices of real estate are slightly more than the Toronto average, investing here is lucrative and ensures a premium return on your investment. The rates of real estate properties in Toronto have witnessed a constant rise in the last couple of years and before you know it, the value of your property will have risen. You always have the option of renting out the place too for a steady monthly income through rent. Yorkville has a higher percentage of houses that are tenanted compared to owned, making it a promising option to choose as you will not face any challenges in finding tenants.

Transit Options

The transit system in Yorkville is one of its unique selling points thanks to its central location in the heart of the city. Residents here enjoy world-class public transportation service and can commute to any part of the city effortlessly. Commuting is a walk in the park from this neighborhood thanks to the Bloor-Yonge station within just a few steps away. What makes this station unique is the fact that it conveniently connects commuters with both the Bloor/Danforth Line as well as the Yonge/University Line, enabling one to travel in any direction. The subway is one of the most convenient and preferred modes of public transportation in Toronto; however, there are other street level transit options also available such as buses and streetcars by the Toronto Transit Commission.
Residents who prefer to drive their own vehicles rather than use public transportation, also have some of the best routes available to get around. The neighborhood also has access to several arterial roadways including the Don Valley Parkway which further extends to the Gardiner Expressway. These highways not only help in getting in and around the city but also helps in connecting you to other major parts of the Greater Toronto Area such as Etobicoke and even further up till Mississauga.

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