The implications of Heritage Conservation Districts are not as benign as one may think (I speak as a firm heritage supporter). In 2008, the City issued a report identifying 96 neighbourhoods worthy of HCD designation (including much of downtown, King/Spadina, etc.)
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The list is of POTENTIAL HCDs and I think very few Studies have been done since this 2008 report was written as the City put a freeze on new Studies until the Guidelines that are up for discussion this week were developed and approved. Once they are approved I assume that some studies will proceed, certainly the one for St Lawrence has been ready to go for a couple of years, with funds already received from Section 37 money. The list of existing approved districts and those that are in the HCD pipeline are at:
http://www.toronto.ca/heritage-preservation/heritage_districts.htm#existing