Toronto Neighbourhood Feature: The Canary District
From The Pan-Am Athlete’s Village to Booming Canary District
The story of the Canary district is one of triumph, luck and transformation. Unlike so many other cities that create infrastructure for events like the Olympics (Montreal Olympic Stadium, I’m looking at you!), the Pan Am athlete’s village managed to transform into a promising new neighbourhood. At it’s inception, the concept of building over derilict industrial lands practically overnight seemed risky at best, especially considering the tight timelines. The part that makes this story triumphant is not the fact that the Pan Am Athlete’s Village was built on-time and on-budget. It is the fact that the area has become a full-out neighbourhood with retail space, event space, several completed condo developments and student residences.
Here’s what the area looked like when they started the project in 2012:
The success is in part due to building housing that would sell well in the current pre-sale Toronto market. Nothing was overlooked: 810 Condos and townhouses were included in the original development, with 253 affordable rental apartments.
Here is the same view after the completion of the Athlete’s Village in 2015:
Additional developments in the West Donlands started in 2011, when Waterfront Toronto started an innovative re-engineering project below the overpass of Eastern Avenue, Richmond and Adelaide. It is the first of it’s kind in Canada, and the pinnacle of what it means to reclaim space. Underpass Park is currently enjoyed by children and adults alike who want to climb, skateboard or shoot some hoops.
Get in this neighbourhood before prices go up!
Matrix Mortgage Global’s newest office is located at 455 Front Street East, unit 103. We bought our townhouse-turned-office while it was in pre-construction, and we are marvelling at how vibrant the neighbourhood has become already. With that said, there is still the need for a neighbourhood Grocery store, pub and a few more retail spots opening. If you are considering opening a retail store, Matrix Mortgage Global would recommend this neighbourhood before it becomes inaccessibly expensive (like the vast majority of downtown Toronto). Similarly, for first-time buyers looking to get in the market, purchasing a phase 3 pre-construction unit or a newly finished townhouse/apartment before the major amenities come in would be advisable. Who doesn’t want to be ahead of the curve?
Call Matrix Mortgage Global for information about purchasing a residential or retail unit in the Canary District, or come visit our office at 455 Front Street East, Unit 103.