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Photo by Bren Barnes

Real Estate Guide › Central

Bay Street Corridor

Average 2008 sale price:

$367,374

Property crime:

very high

Crime against people:

average

Neighbourhood map:

See map

Downtown—thanks to the much-heralded upsurge in condo construction—is becoming a full-fledged residential neighbourhood in its own right. And, although the wave of new buildings is still mostly filled with young singles, couples and downsizing retirees, more and more families are trading backyards for multi-unit living and close proximity to work. Residing in the Bay Street Corridor means you’ll literally be at the centre of everything. It also means you can’t escape (unless you have a country home, cottage or incredibly effective soundproofing). The Pride Parade will stage Super Soaker fights in your backyard, TIFF starlets will take over your favourite watering hole patio, and protests at Queen’s Park will overflow onto your doorstep. Whether you consider these good or bad attributes will go a long way toward predicting your capacity for living here—the closest this neighbourhood gets to calm is in the financial district, around King and Bay, which feels eerily deserted after the nightly exodus of nine-to-fivers.

HOUSING STOCK: Condos and more condos. And the hulking construction cranes that have been a skyline fixture since the start of the high rise boom in the late ’90s are busy adding even more. What developers claim will be Canada’s tallest residential building, the 75-storey Aura, is now under construction at Yonge and Gerrard. The luxury end of the market is also exploding, with such multimillion-dollar buildings as One St. Thomas courting Bay Street suits with deep pockets.

BARGAIN ZONES: Budget-conscious buyers can turn to one of the new super-teeny bachelor units (less than 400 square feet) or a pre-construction deal. Older buildings (such as the bland ’80s towers that line Bay) can offer a steal but they are quickly being renovated, making true deals harder to come by.

THE VERDICT: You can’t get more central than downtown, and the location, location, location rule means real estate here will always be in demand. But if you’re seeking serenity and square footage, head farther afield.

NEIGHBOURHOOD HOT SPOTS:
Bay Bloor Radio One of the best places in the city to pick up a flat-screen or a cutting-edge sound system (or at least fantasize about them). Manulife Centre, 55 Bloor St. W., 416-967-1122.
The Eaton Centre For better or worse, this behemoth, with all it’s teenage mall rats, is your corner store. 220 Yonge St., 416-598-8700.
Metro-Central YMCA A teeming temple of sweat, this bustling central outpost offers everything from cardio machines to karate classes. 20 Grosvenor St., 416-975-9168.
Varsity Cinemas The most grown-up movie palace downtown, Varsity keeps the sensory overload on the screens instead of in the lobby. Manulife Centre, 55 Bloor St. W., 416-961-6304.