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In 1796, Toronto’s Financial District was originally meant to be known as “New Town” in, which was an extension of the Town of York. Today, however, it is the very heart of Canada’s financial business, of which Bay Street Corridor is a part, and is bordered by University Ave. to the west, Yonge St. to the east, Queen St. West to the north, and to the south is Front Street.
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Toronto’s bustling Financial District filled with towering edifices, now houses ad agencies, accounting firms, stockbrokers, insurance companies, law firms, and a large number of corporate headquarters. In contrast, “The Path” is an underground maze of pedestrian traffic to diversified retail shops and stores that conveniently connects the towers for weather-free shopping. During the week when the towers are busy, the activity level on “The Path” is high, but settles down for a more leisurely shopping experience on the weekends when the tower business becomes quiet.
Recently, real estate in the Bay St. Corridor, and the other Financial District areas have seen a construction boom in condominium buildings, as well as a trio of new luxurious hotel/condos. The Living Shangri-La Toronto and the Trump Tower are only two of these magnificent hotel/condos with the third being the Ritz Carlton and its residences.
The projected goal for these mid-sized loft structures along the outer edge of the area will include approximately 7000 new condo units which will house roughly 12000 residents with price tags varying from $800,000 to $1 million. Add to that the anticipated 100,000 daily commuters and you have an explosion of real estate values in the Bay Street District.
Those who drive into and out of this bustling business area have easy access to all the major highways while those who live in the area can readily commute from Union Station on the Financial District’s southern side with regular connections to the rail and bus services through GO Transit.
Financial District condo residents can enjoy Toronto’s very best with the Kensington Market attractions, chic Queen Street West, Chinatown, and the Entertainment District immediately accessible.
