Areas I can think of that are being renewed:
the Junction (young white families and artists and hispanics replacing immigrant Asian/Portuguese/Maltese peoples)
Dundas West/Portugal Village/Brockton/Beaconsfield (mostly white people taking over Portuguese neighbourhood)
Roncevalles (Waspy/white/rich Polish ppl taking over from working class Polish ppl)
College St West of Little Italy proper (Ossington to Lansdowne) (businesses geared towards wealthy young hipsters (aka majority white, trust fund kid types and their slightly older with kids types) pushing out older Italian/Portuguese/whatever families retiring/moving to the 905.
Kensington Market (Hispanic/Jewish/white business taking over vacant storefronts and/or formerly Asian businesses.)
Leslieville (wealthier white ppl taking over from the "white trash")
Parkdale (diverse rental apartments still remain, increasingly more Muslims moving in, but new business geared towards younger/whiter ppl--aka, art galleries, clothing boutiques, bars; restaurants mixed but mostly appealing to wealthier clientele.)
Ossington (Mostly white business ppl taking over formerly dumpy/vacant Asian or Portuguese storefronts; however, clientele is thankfully fairly diverse.)
West Queen West (Bathurst to Dufferin) (Diverse group of businesses pushed out former Ukrainian/Slovak/Eastern European businesses, minus Prague Deli that changed with the times....)
King St West (Spadina to Bathurst) (Diverse group of bars taking over former edge of the garment district.)
Bathurst St from Bloor to Dupont (slowly becoming a northern "Annex" strip)
Wallace/Perth/Lansdowne (artist-driven revival of a "slum")
Bloor West Village: still appeals to majority Russian/Ukrainians, but increasingly businesses catering to wealthy Wasps taking over former delis etc.
St Clair West/Regal Heights: (Christie to Dufferin: boutiques/organic shops/cafes catering to waspy types.)
Next to gentrify:
Lansdowne-Ossington Avenue on Bloor (already happening)
Hallam, Dovercourt Rd area?
Downtown eastside?
Harbourfront?
Yonge St south of Bloor?
By gentrify, I mean new and younger generation of small business people taking over storefronts, type of people patronizing local businesses, type of people buying resale homes in a neighbourhood...which south of Eglinton, usually means wealthier/hipper/whiter people....