Urmi Desai in Toronto Neighbourhoods, Leslieville, Riverdale
Lots of change happening on the retail street at Broadview and Queen East. On a small block there are no less than 7 properties papered up. This is all textbook according to emerging neighbourhood theory - we'd expect existing retailers like discount stores to move out as leases expire and new businesses catering to a higher price point to move in. It will be interesting to see what comes in.
John Pasalis in Toronto Real Estate News, Home Buying, Toronto Neighbourhoods
“Where is the next up and coming neighbourhood?” has to be the question I’m most often asked by home buyers. The idea of finding a rough around the edges (read: not boring) neighbourhood that still offers the comforts of life (cafes, yoga and access to transit) is definitely part of the appeal. But in my experience, those that actually buy in up and comers fall into two main groups - those that are pushed into the neighbourhood because they can't afford the more established, first-choice neighbourhood next door and those that are looking to buy at a discount and make a better return on an area that grows up along with them (they don't mind - and even like - a bit of grit with their latte). This post is geared towards that latter group.
For those primarily interested in making a good return on their real estate investment, buying into an up and coming neighbourhood is a lot like buying a small cap stock. Small cap refers to companies that are usually new or very young and are worth much less (a lower market capitalization) relative to most publically traded companies. These stocks tend to be riskier but offer investors the possibility of an above average appreciation on their investment.
Continue reading "Buying 101: Investing in an Up and Coming Neighbourhood" »
Urmi Desai in Real Toronto, Toronto Neighbourhoods
Who knew that the wonderful summer we enjoyed would lead to an extremely bitter fall? According to prominent voices in one of the most depressing Toronto mayoral races ever, we must live somewhere between the USSR and New Orleans.
Toronto does have problems - uninspiring leadership at all levels of government, the free fall that is the TTC, persistent issues of poverty and social isolation, violent quarrels re strollers in public places, the suspicious feeling that the organic greens you are overpaying for have been picked out of a Markham ditch and potential racial unrest due to a) the domination of overachievers at university and b) the threat of Lake Shore the reality show.
But we have been spared the complete jobs collapse the Americans are suffering through, along with severe austerity measures in Europe, we continue to be fairly peaceful for one of the most pluralistic cities on earth and a lot of our neigbourhoods are getting tastier while remaining artfully dodgy mixed (disclaimer: I think like this because I live in Leslieville).
To wit, the BBC/Lonely Planet travel website is featuring Toronto's diverse, neighbourhood-centric charms - see "This is Toronto Week". Speaking of pleasantly gritty Kensington, a gallant friend treated me to one last birthday dinner at the soon-to-be-gone neighbourhood gem, La Palette - a true Toronto original. And I discovered that at least one downtown hotel, Hotel Le Germain on Mercer, hasn't been completely airlifted in, thanks to their "Made in Toronto" tapas. Call it kitsch, but I love it.
Being furiously bitter need not keep you from being irrationally proud of your city - witness a New Yorker at the office water cooler to see this principle in action (I for one think the wrong George ran against Ford). So this winter, let's a) join one organization tackling a Toronto problem and work hard at it (a good way to mark the sacrifices we remember on Remembrance Day - be inspired by this Toronto example), b) remember that it's way worse in most other places on earth, c) be horrified at the idea of living anywhere else and d) get out and eat something tasty at whatever price point you can muster. May I suggest inexpensive Indian sweets at this most auspicious time of year?
Happy Diwali and Sal Mubarak!
Urmi Desai is editor of the Move Smartly blog and is responsible for Realosophy’s business development and marketing. Realosophy Realty Inc. Brokerage focuses on researching Toronto neighbourhoods to help their clients make smarter real estate decisions. Email Urmi
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Urmi Desai in Toronto Neighbourhoods, Urban Issues
Editor's Note: It's Toronto International Film Festival (TIFF) launch day today! If you are scrambling to figure out what to see, click on "continue reading" link below for a list of exciting films.
The Entertainment District (see Realosophy's Entertainment District neighbourhood profile) will see the opening of new landmark on September 12, the new Toronto International Film Festival (TIFF) Bell Lightbox, a one-size-fits-all hub for film in Toronto (there will be a public street festival to celebrate).
It's an exciting but anxious time for many of the city's dedicated film goers, particularly those of us who've been members of Cinematheque Ontario, a rep theatre dedicated to alternative and art cinema since 1990 (see Toronto Star's recent article on founding programmer James Quandt). As of September, Cinematheque will leave its often pilloried, but well loved home at the AGO's Jackmall Hall and move into the Lightbox, along with TIFF's year round programming and other community programming.
At the Lightbox, film grows up, graduating to food and drinks supplied by Oliver & Bonacini's casual O&B Canteen and upscale restaurant Luma. (For the chronically late, this may be an upgrade from running for a slice of pizza or some pub food and a hastily gulping down coffee before lining up at Jackmall Hall.) Growing up also means price hikes for tickets and memberships, and it will be interesting to see if the TIFF's CEO and supporters are making the right gamble in assuming that Toronto film lovers will (can) reach deep into their pockets to go bigger and flashier, all year round.
The Lightbox and its sophisticated hotel friends (Thompson, Ritz Carleton, Bisha) may also break up the interminable squabbling between the Entertainment District's clubland entrepreneurs and patrons and its residents. Like that predictable 2 am fight started by your cute, Neanderthal boyfriend from the other high school, the neighbourhood's insular battles have long bored the rest of the city, making a new storyline for the neighbourhood most welcome.
The opening of this year's TIFF this Thursday, September 9th gives you the perfect chance to check out some of the new architecture in the Entertainment District. If you are worried about crowds and overhyped films, opt to see a film from the festival's Discovery Programme, featuring new and emerging directors and their compelling films from around the world (screenings are at various festival theatres). For a budget friendly option, there is also the TIFF for Free Programme, which features free screenings of classic films at the Lightbox - expect more of a crowd.
TIFF Discovery Programme and TIFF for Free films listed below. Please check with the TIFF box office for show times, locations and ticket prices.
David Eakins in Leslieville, Toronto Neighbourhoods
After a long spring and summer of renovations the Jimmie Simpson Recreation Centre is set to re-open with a celebration held by Ward 30 Councillor Paula Fletcher tomorrow, Saturday, September 4 between 12 -2pm.
During the time the centre has been closed workers have been busy on several projects aiming to make the Centre greener, more enjoyable and accessible for all.
The crown jewel of the new Recreation Centre is the fact that the two pools have been converted to solar power, a switch that is estimated to save the $12,000 / year in operating costs.
Other improvements include upgraded lighting throughout the centre, an improved HVAC system, an updating of the lobby and structural repairs to the roof, and a fresh coat of paint throughout the facility.
Tomorrow's opening features free swim time and cake!
You can click here to download the Jimmie Simpson invite.
Urmi Desai in Toronto Neighbourhoods
A semi-regular feature highlighting things to do on weekdays and other non-peak times.
Volunteer - Canadian Red Cross Society Monday Morning Breakfast - Every Monday
Location: Our Lady of Lourdes Church, 520 Sherbourne (see Jarvis Street Corridor Neighbourhood Profile)
Around the world, communities based on religion, culture or geography are being replaced by communities of interest, a shift powered by the internet. This has no doubt enabled many people to live richer and truer lives. One downside to community based on the transient nature of our interests may be the loss of “slow relationships” – relationships built by meeting at the same time and place over years. Fight the sense of being lonely amidst a busy calendar by getting back to some old fashioned neighbourhood volunteering. The Canadian Red Cross Society is looking for food/kitchen prep help at their Monday Morning Breakfast for the Homeless – see listing at volunteertoronto.ca for more details.
Trampoline Hall Lectures - Monday July 19 at 8pm
Location: The Garrison, 1197 Dundas West (see Beaconsfield Neighbourhood Profile)
Remember those high school events where your fellow students took the stage to make speeches? (At my school, the occasion was usually highly fraught student elections a la Tracy Flick.) You either slept or watched uneasily until you found yourself laughing out loud to a joke that was actually meant to be a joke, leaving you with that warm “damn, that girl is good” feeling. At Trampoline Hall, normally held one Monday a month, you get to feel that way again and again. Each session, a guest curator invites three non-expert speakers (local artists, activists, personalities, etc.), each speaks about a (generally loopy) topic, the crowd gets involved in QAs, hilarity ensues. The result is a Toronto that is smart, funny and cool. Just like your high school crush. See the Trampoline Hall website for more info.
Further Reading - more things to do on Monday:
Blog: 52 Things to do in Toronto on a Monday Night
Blog TOToronto LifeUrmi Desai in Toronto Neighbourhoods
Events this week made me think of Tyler Brûlé on Toronto: “He’s got a really nice flat and it’s great that his kids go to a nice
school, but shit, it’s boring there.”
Brûlé, the creator of Wallpaper* magazine and purveyor of urban envy, believes, not unlike your cool friend Jade from Tokyo who refuses to visit you, that a city dominated by detached homes with two car garages can't generate the "anything can happen" type of street life that has driven us to sit through two very, very bad Sex and the City movies.
Last Thursday, arriving home after a good day at the office, I thought about fleeing the old homestead, getting up to my elbows in some trouble, doing something wild. Shockingly, I didn't have to go far. Somewhere in the detached bungalow strewn darkness of my nice neighbourhood, someone was actually playing a live instrument. Loudly. On a Weeknight.
John in Toronto Real Estate News, Toronto Neighbourhoods
The slowdown in Toronto's real estate market continued in May with sales actually dropping by 1% over the same month last year.
New listings were up 38% to 18,940 and the average price for a home in the GTA was up 13% to $446,593.
But not all neighbourhoods are moving in the same direction.
In last week's post (Is Toronto's Housing Market a Bubble?) I talked about the risks of using national real estate statistics and forecasts to assess what's happening in Toronto's real estate market. I showed how real estate prices appreciate and depreciate at very different rates across cities and made the case for putting more emphasis on local real estate statistics over national statistics.
We can take this same basic idea and extend it to Toronto's real estate market. It's important to look at the overall statistics for Toronto's real estate market to get a general sense for where the market is heading, but city wide statistics don't tell you what's going on in a particular neighbourhood.
While prices are down 1% and inventory is up 38% on average across the GTA, that doesn't mean every neighbourhood is experiencing a similar surge in supply and decline in demand.
The above chart shows the percentage change in the number of active listings and sales from May 2009 to May 2010 by City of Toronto MLS districts.
Continue reading "Which Toronto Neighbourhoods are Safest in a Slowing Housing Market?" »
David Eakins in Toronto Neighbourhoods, Leslieville
"What's the story with the stagnating pit at the corner of Queen and Pape?" That's the question many residents have been asking as it has been months since there has been any sign of activity at the site of the Film Studio Lofts. What's baffling about the abandoned project is that for the past three years there has been a sign posted at the site proudly proclaiming that the project sold out and occupancy would start in Fall 2007.
Well as many of you probably already guessed nobody is going to "live in the spotlight", at least for now.
A little investigative blog-ism, which included calls to the city, a conversation with a purchaser of one of the units, some extensive Googling and a call to Councillor Fletcher's office, and I've pieced together the story - past, present and future.
Continue reading "Leslieville News: The Pit at Queen and Pape" »
David Eakins in Toronto Neighbourhoods, Leslieville
Last night at the Ralph Thornton Centre, South Riverdale and Leslieville residents witnessed the City of Toronto Parks, Forestry and Recreation Department's unveiling of the final two designs for the expansion of Joel Weeks Park. (Here's a Google map in case you're not familiar with the current location of Joel Weeks Park.)
The two final designs are the product of several months of community interaction and input with the city and the landscape design firm, Janet Rosenberg and Associates.
Both designs see the size of Joel Weeks doubling as Carroll Street will be closed at the south and north ends of the park will and become the main pedestrian path through the park. Traffic coming south from Dundas down to Queen or north from Queen up to Dundas will be re-routed along the yet-to-be completed extension of Munro Street. Check out this Google Map to get a better sense of the footprint of the new park.
The first option is known as the Urban Grid and is built around the idea of creating a gathering place for the community with market spaces, public art displays and an outdoor room for events and performances. Click on the icon to the left of the paragraph to view the full size image.
Continue reading "Leslieville News: Joel Weeks Park Redesign" »
