From 10,000 feet, the Fort York neighbourhood is booming. Hard to believe that 10 years ago if you went to the corner of Bathurst and Lakeshore, you wouldn’t see a single condo abutting that intersection. Now there are several completed buildings like 219 and 231 Fort York, 600 Fleet Street, and the nearby 38 Dan Leckie Way (Panorama), and Tip Top Lofts (637 Lake Shore). Under construction and nearly complete are phase 1 and 2 of West Harbour City (628 and 630 Fleet Street), Neptune (640 Fleet), and Quay West at Tip Top. Construction is underway for LTD, and construction will be starting probably late this year on Library District and Garrison at the Yards. If you are counting that is at least 12 major buildings either built or underway.
Obviously the area is very attractive to many people and investors who bought years ago for under $300 per square foot in some cases are doing the “I told you so dance” to those who were skeptical about this area. However, the area has been criticized for having a dearth of amenities and lacking a neighbourhood ‘feel’. What does the future hold for Fort York?
The area has long been one that I’ve proposed to clients and investors who want to own downtown but were squeamish at the thought of paying prime downtown prices for areas like Bay Street, King West or the St Lawrence Market. Fort York is ‘off centre’ in the sense that is downtown, but the Gardiner expressway and the Rail Lands to the north can make the area feel cut off from the action of the city. Retail shops, restaurants, dry cleaners etc. are very scarce. You have to have a car to live in this neighbourhood, or you need be comfortable with long walks or spending a lot of time on the streetcar to get to where you are going.
My opinion is that this area will never be seen as one of the best downtown neighbourhoods, but it will improve as more amenities are added. It will continue to be a good alternative for those wanting to be in the core without paying premium prices. Also it’s great for people commuting to Mississauga. A game changer for the area would be if Loblaw does something exciting or ground-breaking with their building on the north east corner of Bathurst and Lake Shore.
Interested in buying or selling in the Fort York Neighbourhood? Contact me today.
September 2nd, 2010 at 12:20 pm
Doesn’t Loblaws own the NE corner building?
September 2nd, 2010 at 2:30 pm
Oops, yep, meant to say NE, not NW. thanks
September 2nd, 2010 at 4:26 pm
Seems like it’s a good neighbourhood — as long as you have a bike or car. The value is great, but it seems like nothing is really close enough to make it feel less like a claustrophobic suburb. You do have King West, Liberty Village, Bathurst, (and BMO!) close by, but just out of short walking distance. However, it does overall have pretty decent streetcar access.
September 5th, 2010 at 10:44 am
I agree that this area has improved greatly, but I personally would not want to live there as a young single professional.
Fort York is like a new extension of the Harborfront, like Liberty Village is like a new extension of King West. However the entire Harborfront strip still lacks the character, convenience, vibrance, and local establishments of the rest of downtown, and the Gardiner and the CN tracks still creates an unfortunate separation between the Harborfront and the city. Like Liberty Village, is has a suburban feel to it which may or may not appeal to some.
Fort York has the potential for attracting families to the city, as it is less congested, quieter, and more reasonably priced. Seems like Fort York has a great base of people living there who saw potential of this area a while ago and are now feeling the pride of how the area is developing and appreciating.
November 28th, 2011 at 6:24 pm
You have articulated all of my thoughts on purchasing in this area. I just can`t decide if it’s a strong investment choice and if there is enough access to the city. Looking at this area a year later from your originally posts, do you have any more insight?