Bay Street Corridor
Located between University Avenue and Yonge Street and Bloor St and Front Street is one of the city’s busiest North-South arteries. At the south end of this corridor is Toronto’s Financial District, the most densely built-up area of Toronto, home to Canada’s 5 big banks, corporate headquarters, legal and accounting firms, insurance companies and stockbrokers. Most buildings in Toronto’s core are connected by a system of underground walkways, known as PATH, which is lined with retail establishments making the area one of the most important shopping districts in Toronto. To the north lies the neighbourhood now referred to as South Yorkville. The main draw continues to be the fine shopping along Bloor Street, including The Manulife Centre and the high end “Windsor Arms Hotel”. Significant condominium development south on Bay Street boomed during the 1990s and construction continues on large, 40-plus storey condominiums and multi-use buildings today, including the Aura Tower (when finished it will be the tallest residential tower in Canada – at least temporarily). The area attracts many who work in the financial district as well as those who work in the nearby hospitals and schools (Ryerson University and the University of Toronto). More than 67% (or 10,380) of residents in this area are in the working ages of 25-64.
Significant Sales: In the Bay Street Corridor you can purchase a 450 square foot bachelor apartment in a new building like 111 Elizabeth St, located near Bay and Dundas, for as little as $275,000 which includes parking. Closer to Bloor St, in South Yorkville, there are several luxury buildings such as 1 St Thomas St. where a recent 3600 square foot condo sold for $3.7 million. In both cases, these newer buildings have good amenities like full time concierge, gym, party and meeting rooms, a pool, and guest suites.