Oh, very well, dear ...
There was a rash of little antique shops on the south side of Queen Street, east of Jarvis, and Waddingtons auction house, about 15 or 20 years ago. But that was about it. I think the Armoury park to the north was a psychological dead end, and the social housing to the east too - there wasn't much old property to gentrify.
And there wasn't an OCA, or an AGO, or a Chinatown and a Spadina for cheap chop suey and deli meals, nor a Malibar for Halloween and the Baux Arts Ball outfits, nor a Gwartzman's art supplies, nor pubs for art students, nor cheap rooming houses for them too. None of the infrastructure that could be built on was on the east side.
And hasn't the city traditionally expanded, in waves, upwards and to the left? Didn't new immigrants settle in places like Kensington Market and then move on in waves? Wasn't the lower east side fairly stable - old Anglo Saxons and old Irish/Scots who were part of that huge, static Anglo Saxon ghetto that had roots going back to the 1830's?
When I was at OCA in the early 1970's there were illegal artist studios in some of the old warehouses along the Esplanade. Quite a few people lived in them buildings too. But the development of the St.Lawrence neighbourhood, with all those do-gooder co-ops, kinda squashed the arty potential there for good.