News   GLOBAL  |  Apr 02, 2020
A Message to Our Readers
 9K     0 
News   GLOBAL  |  Apr 01, 2020
EarthCam Time-Lapse Documents Rafael Viñoly-Designed New Stanford Hospital Construction
 40K     0 
News   GLOBAL  |  Apr 01, 2020
Resort Town
 5.1K     0 

As someone who would like to live downtown in Toronto, and who would prefer not to depend on a vehicle...I guess I'm disappointed with the few options available to those of us who are single, without kids, and low-income. Toronto appears to be doing what cities like Minneapolis did 10-15 years ago - let's get all the rich people downtown, and shove all the lower income folks into the suburbs, so now they will need a car, or have to spend two hours each way on the bus to get to work, etc., places like the 'Y' are gone forever in terms of SRO housing - I don't think that long-term sustainability is on the plate here - if all these very affluent, highly-eduated condo dwellers are living downtown, who will work at Starbucks, Shoppers, the malls, etc - any building that has a little bit of historical value is being knocked down for condos where the STUDIOS start at $300K. That's outrageous! Mind you, I have seen a few small apartments on Maitland, Wellesley, etc., but I just can't believe the demand for all these very high-end condos will still be around in 2032 - they'll just be 20 year old condos that nobody's going to want, because the affluent target market wants the newest, best and most updated. They'll never get anything for them when it's time to sell.

I wouldn't mind owning, but I just don't get why every development has to be state-of-the-art or ultra-everything. How about 'close to (fill in the blank)' or 'be able to actually walk to work!'? That would be fine for me...I don't need bamboo floors or granite/whatever they use now countertops or a jacuzzi tub...oh well.
 
Windsor519 said:
As someone who would like to live downtown in Toronto, and who would prefer not to depend on a vehicle...I guess I'm disappointed with the few options available to those of us who are single, without kids, and low-income. Toronto appears to be doing what cities like Minneapolis did 10-15 years ago - let's get all the rich people downtown, and shove all the lower income folks into the suburbs, so now they will need a car, or have to spend two hours each way on the bus to get to work, etc., places like the 'Y' are gone forever in terms of SRO housing - I don't think that long-term sustainability is on the plate here - if all these very affluent, highly-eduated condo dwellers are living downtown, who will work at Starbucks, Shoppers, the malls, etc - any building that has a little bit of historical value is being knocked down for condos where the STUDIOS start at $300K. That's outrageous! Mind you, I have seen a few small apartments on Maitland, Wellesley, etc., but I just can't believe the demand for all these very high-end condos will still be around in 2032 - they'll just be 20 year old condos that nobody's going to want, because the affluent target market wants the newest, best and most updated. They'll never get anything for them when it's time to sell.
Click to expand...

There are thousands of geared to income rentals downtown (2-8 year waiting lists I understand) and several dozen co-op rental buildings. Many of the co-ops have a percentage of geared to income units and the balance are "market rentals" but extremely affordable versus corporate market rentals. Downtown rental living can be very affordable, you just have to look around or connect with people who really know the downtown area. Low income earners are not being pushed into the suburbs but we all have options there too.
 
Windsor519 said:
As someone who would like to live downtown in Toronto, and who would prefer not to depend on a vehicle...I guess I'm disappointed with the few options available to those of us who are single, without kids, and low-income. Toronto appears to be doing what cities like Minneapolis did 10-15 years ago - let's get all the rich people downtown, and shove all the lower income folks into the suburbs, so now they will need a car, or have to spend two hours each way on the bus to get to work, etc., places like the 'Y' are gone forever in terms of SRO housing - I don't think that long-term sustainability is on the plate here - if all these very affluent, highly-eduated condo dwellers are living downtown, who will work at Starbucks, Shoppers, the malls, etc - any building that has a little bit of historical value is being knocked down for condos where the STUDIOS start at $300K. That's outrageous! Mind you, I have seen a few small apartments on Maitland, Wellesley, etc., but I just can't believe the demand for all these very high-end condos will still be around in 2032 - they'll just be 20 year old condos that nobody's going to want, because the affluent target market wants the newest, best and most updated. They'll never get anything for them when it's time to sell.

I wouldn't mind owning, but I just don't get why every development has to be state-of-the-art or ultra-everything. How about 'close to (fill in the blank)' or 'be able to actually walk to work!'? That would be fine for me...I don't need bamboo floors or granite/whatever they use now countertops or a jacuzzi tub...oh well.
Click to expand...

Please don't despair as much of the discussions here are centered around the mid- to high-level condo market. One may feel that these are the only options in the city but that is by no means what is available in downtown Toronto. There are still many low-rise and high-rise apartment buildings on the rental market situated in the downtown core. With the influx of newer condo builds, you can take comfort in knowing that rents are not going to skyrocket in the coming years. I continue to see fairly reasonable rents throughout the 416.
 
Windsor519 said:
As someone who would like to live downtown in Toronto, and who would prefer not to depend on a vehicle...I guess I'm disappointed with the few options available to those of us who are single, without kids, and low-income. Toronto appears to be doing what cities like Minneapolis did 10-15 years ago - let's get all the rich people downtown, and shove all the lower income folks into the suburbs, so now they will need a car, or have to spend two hours each way on the bus to get to work, etc., places like the 'Y' are gone forever in terms of SRO housing - I don't think that long-term sustainability is on the plate here - if all these very affluent, highly-eduated condo dwellers are living downtown, who will work at Starbucks, Shoppers, the malls, etc - any building that has a little bit of historical value is being knocked down for condos where the STUDIOS start at $300K. That's outrageous! Mind you, I have seen a few small apartments on Maitland, Wellesley, etc., but I just can't believe the demand for all these very high-end condos will still be around in 2032 - they'll just be 20 year old condos that nobody's going to want, because the affluent target market wants the newest, best and most updated. They'll never get anything for them when it's time to sell.

I wouldn't mind owning, but I just don't get why every development has to be state-of-the-art or ultra-everything. How about 'close to (fill in the blank)' or 'be able to actually walk to work!'? That would be fine for me...I don't need bamboo floors or granite/whatever they use now countertops or a jacuzzi tub...oh well.
Click to expand...

Please don't despair as much of the discussions here are centered around the mid- to high-level condo market. One may feel that these are the only options in the city but that is by no means what is available in downtown Toronto. There are still many low-rise and high-rise apartment buildings on the rental market situated in the downtown core. With the influx of newer condo builds, you can take comfort in knowing that rents are not going to skyrocket in the coming years. I continue to see fairly reasonable rents throughout the 416.
 
You must log in or register to post here.

Back
Top