The most famous phrase in real estate is “location, location, location.” This is true of established neighbourhoods, but how do neighbourhoods become established? How can you tell which are the up and coming neighbourhoods in Toronto 2020? Here are some important things to consider as well as a quick list of neighbourhoods to look out for in the coming year.
Transportation
Everyone wants to live as close as possible to public transportation so they can keep their commutes short and more affordable. This is why properties that are located close to subway lines or bus routes have a high value. Up and coming neighbourhoods in Toronto 2020 will be situated where subway lines, bus routes and LRTs are planned to be built. This way they will be affordable when you purchase them now, and when the transportation lines start running you will enjoy a sizeable appreciation in the value of your property.
Local Economy
Some people tend to stray from neighbourhoods that have a few run-down shops. It is understandable, an underwhelming appearance draws no incentive for shoppers. However, if there are local business improvement associations you should research them or attend their meetings to see what projects exist to revitalize communities. A neighbourhood you might not have thought of could enjoy the “Starbucks effect” where a large anchor store draws a wider range of customers and businesses which inherently encourages a flourish to the local economy.
Local Politics
Just as federal and provincial elections are crucially important for the health of a nation, so, too, is local politics! A dedicated and committed local politician will engage with their community regularly to determine how they can make the neighbourhood a better place to live. Reach out to your local politician and see what their current projects are, what their past record of delivering projects is like, and what future plans they have for your neighbourhood or neighbourhoods you are interested in living in.
Up and Coming Neighbourhoods in Toronto 2020
Knowing all of this, which are the Toronto neighbourhoods you should keep your eyes peeled for?
Here are a few:
Little Portugal
This central Toronto neighbourhood is bordered by Lansdowne, College, Bathurst and the UP Express rail line. There are three public schools and a Catholic school within the neighbourhood, some of the best Portuguese food you can find in the city, and the Mary McCormick Recreation Centre which features a pool, arena, gym and educational programs.
Oakwood-Vaughan
Oakwood-Vaughan is located in the York district of Toronto. Its borders are Eglinton, Dufferin, St. Clair and Winona Drive. However, be on the lookout for news about Oakwood Village as the neighbourhood’s Business Improvement Area has started work to rejuvenate this neighbourhood with an annual arts festival and several stunning works of public art.
Kensington-Chinatown
This historic retail/residential neighbourhood is bordered between College, Queen, Bathurst and University. This famous neighbourhood is home to the AGO, OCAD, and some of the most eclectic shops in the city. Did you know that Toronto’s Chinatown is one of the largest in North America?
Have you considered any up and coming neighbourhoods in your search for the perfect home? Or perhaps you would like to know more about these and other up and coming neighbourhoods in Toronto 2020. If so, please feel free to reach out to me here. I would love to help you with all of your queries on the new hot spots in Toronto.
