The Bay and Yonge Street corridors are prime investment territory for condo investors, whether for pre-construction or resale condos. This fairly new neighbourhood that mainly consisted of low-rise retail & commercial space alongside surface parking lots underwent a building boom starting in the early 2000s with landmark high-rise condo construction.
The close proximity of the Bay and Yonge Street condos to the major health care centres of the Hospital District (Princess Margaret, Women’s College, Mount Sinai, Sick Kids, Toronto Rehab, St. Michael’s & Toronto General hospitals, with shuttle service to Toronto Western) while also nestled between the ever-expanding Ryerson University and the University of Toronto mean a consistent influx of people seeking local accommodation. Likewise, the Financial District is only a short walk or quick subway ride away, and the Yorkville Neighbourhood with designer shops and high-end restaurants is also very close in proximity. Several major government offices are also nearby, including the Ontario Provincial Parliament building, Toronto City Hall and others, with substantial employee numbers.
When weighing your options for a prime real estate investment, the other consideration is access to transit. With the Bay and Yonge Street condos all being along the Yonge Subway line, and some of them even being connected underground to the subway, this makes these condos a permanent attraction to those residents looking for convenience, particularly during the bitter winter months or the intense heat waves of summer. Plus, criss-crossing the Yonge Subway line are multiple streetcar and bus routes that will swiftly take you east or west across the city.
The condo residences found on Bay and Yonge Streets are desirable now and in the future as the streetscape improves, more and more interesting shops, cafes and restaurants enter the neighbourhood and close proximity to all of the work and life necessities continue. It doesn’t get much more prime than this!