News   GLOBAL  |  Apr 02, 2020
A Message to Our Readers
 9.8K     0 
News   GLOBAL  |  Apr 01, 2020
EarthCam Time-Lapse Documents Rafael Viñoly-Designed New Stanford Hospital Construction
 41K     0 
News   GLOBAL  |  Apr 01, 2020
Resort Town
 5.6K     0 

Not sure if it belongs in this thread, but all this talk reminds me of a conversation I had with my sister. We were discussing if any of the neighbourhoods along the Finch West LRT (for example, Jane and Finch, Emery, Jamestown) are likely to be gentrified in the future. She's worried that they will be, but I'm hoping the city will push to revitalize the areas instead - similar to Regent Park, Lawrence Heights, etc.
 
dowlingm said:
One of the unfortunate effects of transit construction is that the pre-existing businesses get hammered by disruption during it, leaving them in a weakened state when the landlord decides he can renovict them and get a chain store instead. I wonder if there are any municipalities who have figured out a way to assist such businesses in a fair way.
Click to expand...
Perhaps a rebate offered to affected business for the 3 - 5 yr period following the end of construction. It could come in the form of a income/business tax credit (municipal, provincial, or federal), or some other benefit.
 
PMT said:
Not sure if it belongs in this thread, but all this talk reminds me of a conversation I had with my sister. We were discussing if any of the neighbourhoods along the Finch West LRT (for example, Jane and Finch, Emery, Jamestown) are likely to be gentrified in the future. She's worried that they will be, but I'm hoping the city will push to revitalize the areas instead - similar to Regent Park, Lawrence Heights, etc.
Click to expand...
The city model for revitalization - notably in Regent Park - has been what some people would consider gentrification. Still some "reality" left in the area though, judging by the dude who biked diagonally through the intersection of Sherbourne and Dundas yesterday, wobbling alarmingly as he went.
 
Eglington will gentrify. End of story. There is nothing you can do about it. However, don't think this will happen overnight. Commercial properties are sticky to their existing communities. Commercial gentrification can lag residential gentrification by 10-20 years to the point where you get the bizarre scenario where the commercial and residential side-streets are completely disconnected from one another.

Also, we don't need to go overboard and predict gentrification washing across the city in every location where transit is present. As a whole the median Toronto resident is getting poorer not richer. Gentrification or not that can't be viewed as a positive in my mind regardless of what status quo neighbourhood gets "preserved". However I thing in regards to Eglington at Oakwood I think the area is already gentrified so the commercial will naturally follow. In this example the gentrification is kind of "White" gentrification but I don't think we should fall into the trap of thinking "White" means rich. Toronto has a demographic make-up that is diverse and ethnic minorities who are actually richer than "white" people. Also, these families buying houses in the area are the ones with the most debt and most vulnerability to a market correction or future rising housing costs.
 
TrickyRicky said:
Eglington will gentrify. End of story. There is nothing you can do about it. However, don't think this will happen overnight. Commercial properties are sticky to their existing communities. Commercial gentrification can lag residential gentrification by 10-20 years to the point where you get the bizarre scenario where the commercial and residential side-streets are completely disconnected from one another.

Also, we don't need to go overboard and predict gentrification washing across the city in every location where transit is present. As a whole the median Toronto resident is getting poorer not richer. Gentrification or not that can't be viewed as a positive in my mind regardless of what status quo neighbourhood gets "preserved". However I thing in regards to Eglington at Oakwood I think the area is already gentrified so the commercial will naturally follow. In this example the gentrification is kind of "White" gentrification but I don't think we should fall into the trap of thinking "White" means rich. Toronto has a demographic make-up that is diverse and ethnic minorities who are actually richer than "white" people. Also, these families buying houses in the area are the ones with the most debt and most vulnerability to a market correction or future rising housing costs.
Click to expand...

Yeah, Eglinton and Oakwood will gentrify the same way Bloor and Lansdowne or Danforth and Greenwood/Coxwell/Woodbine hasn't gentrified after all these decades.
 
I think the better comparison to the surface Crosstown is St. Clair, where there has definitely been extensive gentrification and intensification in its wake. (I suppose one can't be certain that it is only the LRT that has produced the effect, but it sure has helped.)
 
I received a letter from an independent real estate developer that he would want to buy not just my house, but the entire postal code's worth of houses (and I live approximately one kilometre north of Eglinton).

I might end up being a victim of gentrification.
 
Johnny Au said:
I received a letter from an independent real estate developer that he would want to buy not just my house, but the entire postal code's worth of houses (and I live approximately one kilometre north of Eglinton).

I might end up being a victim of gentrification.
Click to expand...

Does said letter relate what the plan is when he assembles said block?
 
Zach6668 said:
"Victim"?
Click to expand...
I dont understand it either. People paid super little to live in these priority neighbourhoods at one point. And now they are being offered 2-4 times what they paid. And somehow they are victims of gentrification. So people want their property values to go up but then when they do they find a way to play the victim. I just dont understand. A friend of mines house in the area was 200k in 2000, then 500k in 2010 and now 1 million. Real victim.
 
sixrings said:
I dont understand it either. People paid super little to live in these priority neighbourhoods at one point. And now they are being offered 2-4 times what they paid. And somehow they are victims of gentrification. So people want their property values to go up but then when they do they find a way to play the victim. I just dont understand. A friend of mines house in the area was 200k in 2000, then 500k in 2010 and now 1 million. Real victim.
Click to expand...

It's not necessarily individuals that are victims of gentrification, but the broader community. A few people may cash in while others in the community are directly or indirectly priced out of their homes. Furthermore, the split between rental and owned housing in the area is 50%. The 50% renting won't experience the financial benefits you describe.
 
I see renters as people who are waiting for the price of houses/condos to drop to an affordable level for them to buy.

Instead of buying a one-bedroom condo or even a duplex to rent out a floor, to get their equity starting, they're wanting to buy a single-family McMansion right off the bat. In the meantime, they spend their money on vacation cruises each year.
 
TheTigerMaster said:
It's not necessarily individuals that are victims of gentrification, but the broader community. A few people may cash in while others in the community are directly or indirectly priced out of their homes. Furthermore, the split between rental and owned housing in the area is 50%. The 50% renting won't experience the financial benefits you describe.
Click to expand...
Some people also grow attached to their neighbourhoods and are reluctant to move away, despite the incentive to sell for a huge payout.
 
Seen that in some real estate shows on TV. The buyers reluctantly would want to relocate, but in the same neighourhood.
 
You must log in or register to post here.

Back
Top