Buying a condo is a big decision, and for most people, one of the most significant investments in their lives. In that decision, choosing a neighborhood is usually the first thing to decide. Then comes the size of the condo, the price, the layout, and so forth.
When it comes to Toronto, the Canary District has been a popular district for living as there are many benefits of buying a condo in that area.
Here is a list of top reasons why people find it so appealing to live in the Canary District.
#1 The Canary District is a master-planned community
Canary District is a planned community, which makes it appealing to so many people. Being a master-planned community means that everything is already planned before it’s built. A developer can’t just come, buy a lot, develop a building there, sell it, and then move on to the next one. At the same time, that doesn’t mean that there aren’t any new Canary District condos for sale. At the moment, there is a decent selection of new and old condos for sale of all sizes. However, just because it is a master-planned community, there is a limit to how many new buildings can be added to this neighborhood.
#2 The Canary District is a vibrant community
There is always something going on throughout the year, some events within the district or near it. There are many events, such as art exhibitions, festivals, theater, and so on. This year, due to the coronavirus pandemic, many of those events were canceled. Corktown Common is an 18-acre park that is very close and usually during summer months is brewing with activities and people enjoying themselves there.
One of the best parts about living in the Canary District is that you get to downtown Toronto in just 15 minutes. Just catch the 541 streetcar line or if you own a car, just head to Cherry, make a turn on Dundalk, and Don Valley Parkway is on your right.
#4 Quality Retail
Retail is meticulously planned and incorporated within the Canary District. It is so well incorporated that it creates a sense of community and brings a lot of foot traffic into the neighborhood. Practically one can find anything within the neighborhood.
#5 The East Harbour mixed-development plan
When finished, it is expected to deliver as many as 55,000 new jobs to this region. That’s a lot of jobs near the Canary District.
All in All
Great retail, great infrastructure, vibrant community, and many projects in development are all very positive signs that you are looking at a great place to live in. Currently, prices are not as steep as anticipated before the coronavirus crisis, and interest rates are historically low. So if you plan to buy a condo as an investment, it makes perfect sense to do it right away.