I get a little warm and fuzzy whenever people speak about Midtown. Not only do I call this community home, but some of my most enduring friendships and childhood memories were formed in the hallways as a young student attending high school in the area. So, why is midtown/Yonge & Eglinton a big deal these days?
Aside from being the “young & eligible” center of Toronto, having a Walk Score of 98/100 and a Transit Convenience Score of 94/100; the area is in rapid transition. Here are some cool facts!
- 21,000 people live within 1 km of the Eglinton Subway
- 16,800 Jobs are situated within a 1 km stretch of the intersection
- 76% (or 15,960) people Rent their Homes (YUP-you read that right)
- Average Age Group in the area is Between 25 to 46
- Boasts 42,680 daily pedestrian count compared to only 35,585 at Bay & Dundas
- Average household income is $76,749
- 56% of Households is comprised of Single Individuals
- 60% of area residents use Public Transit
Real Estate Developers & investors have been taking notes. In the next 3-5 years you will see a host of new condominium projects coming to the area including: ArtShoppe, WhiteHaus Condominiums, CityLights on Broadway and 150 Redpath.
Despite the pace of projects under construction or in the pre-construction sales stage, total units to be built will only be around 2,500–hence the anticipated supply gap if the area continues to grow. Let’s take a quick look at what else is in store for MidTown.
Future Transit: Eglinton-Scarborough Crosstown LRT
- $8.4 billion Dollar Infrastructure Investment
- Connects between 52 km of new light rail transit
- Links to 54 local bus routes, three TTC Interchange subway stations and GO Transit.
- Will run underground from Black Creek Drive to Laird Avenue, and above ground to Kennedy Station.
- Once complete, the new system will cut transit time in half along this important Mid-Town corridor.
- Construction is currently underway and is expected to be completed by 2020.
- Downtown – 15 minutes
- York University – 30 minutes
- Pearson Airport – 45 minutes
- Scarborough – 20 minutes
- RioCan is currently expanding the Yonge-Eglinton Centre upwards and outwards
- $100 million slated towards redevelopment & revitalization
- Connected underground to the Eglinton subway station AND Future LRT
- The Cube will feature three levels of shops surrounded by glass
- An integrated stage allows for street parties and concerts in the square
- The portion of the Cube fronting on Eglinton will bring large retail windows and entryways right to the sidewalk
- Adds an additional 40,000 square feet of new space to the complex
- Current Status: Under construction