This project will be sure to once again ignite the debate over what exactly is ‘Yorkville’ and where the boundaries of this neighbourhood end. Many developers have jumped on the Yorkville marketing train over the past few years, billing their projects in the streets adjacent to Toronto’s most prestigious locale as part of the Yorkville scene.Ã‚Â However anyone who has spent time in the heart of Yorkville (Bloor-Cumberland-Yorkville) will tell you that moving a block or two in any direction will put you in some very different surroundings.
Regardless of whether Avenue Road and Davenport is in Yorkville or not, there is no question it is a great location.
With prices said to start in the mid $400s for this project, I am expecting the prices per square foot to be in the $700+ range. This will almost certainly be a project aimed at end-users (as opposed to investors) particularly ‘down-sizers’ from the Yorkville/Forest Hill/Annex neighbourhoods. Expect this to be a big trend over the next couple decades – mid-size projects in Toronto’s poshest neighbourhoods aimed at getting empty-nesters and retired baby boomers out of their 2000-3000 sq ft homes and into 800 sq ft condos down the street. Ditch the maintenance of the home but keep your postal code.
Questions? Contact me.