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The St. Lawrence Neighbourhood: One to Consider


Even though it is one of Toronto’s oldest neighbourhoods, St. Lawrence is still a trendy place to be for the modern urban dweller. A recent Toronto Life article dubbed St. Lawrence a “Where to Buy Now” neighbourhood. In an interview with Kaive Wong, the Broker of Record of Axon Capital Realty, we found that he clearly agreed, saying “The St. Lawrence Market area is one of the hottest new areas for condo stock in the city.”

Delineated by Yonge St. and Parliament St. on its eastern and western boundaries and by Front St. and the Gardiner Expressway on its northern and southern boundaries, the area is conveniently located near everything you could possibly need. Mr. Wong says that real estate between Yonge and Jarvis is currently in the highest demand, because of the limited amount of existing product in that area.

All within a few minutes walk, you can: attend a major sporting event, purchase fresh fruits and vegetables, make your way to the Toronto Island, get on the train and dine at a fancy restaurant. In fact, Front Street offers a whole host of conveniences, including: a 24-hour Metro grocery store, an LCBO, a Winners, several bookstores, and access to the TTC. According to Kaive, the recent announcement of the Union Station connection to Pearson airport will add further momentum to this market.

Although technically part of the downtown core, the neighbourhood has managed to retain a community feel, due to its abundance of parks, trees, grassy areas, and historic buildings. Kaive Wong believes the neighbourhood is more family friendly and less transient in comparison with its western neighbours. It is also a place of deep-seated community activism: the St. Lawrence Neighbourhood Association serves as the mediator between community members and city planners in many development-related disputes. 

The neighbourhood was originally designed by the City of Toronto in the 1970’s. Urban planners sought to create a neighbourhood that featured many mixed-use buildings. It is this combination of office, residential and commercial buildings which makes the St. Lawrence neighbourhood a great place to live and work.

The mixed-use nature of the St. Lawrence neighbourhood’s buildings is a likely explanation for why the area continues to experience rapid growth and development. The St. Lawrence urban planning model has even served as an example for other projects all over North America. According to Mr. Wong, the area is getting stronger and stronger, driven by the city’s plans for urban expansion and gentrification on the neighbourhood’s eastern borders.

For the past few decades, condo developments in the area have sprung up and more are on the way. Furthermore, census numbers for the region show that population grew between 2001 and 2006 and that this trend is likely to continue. As we will see below, as the population grows, so do the home prices, which is reflective of the area’s desirability.

The average home prices for the past few years were as follows:

2009: $348,353
2010: $385,609
2011: $401,811

*2011 averages reflect most recent data from January to August of that year 

Here are just a few condominiums to choose from if you are interested in this area:

25 The Esplanade

Backstage
5 The Esplanade

Berczy
55 Front St E

LTower
2 The Esplanade

London on the Esplanade
38 The Esplanade

Market Wharf
18 Lower Jarvis St Street

If you are interested in learning more about these buildings or others in the St. Lawrence neighborhood, don’t hesitate to contact us at (416) 929-1660. Or, for even faster service, e-mail us at resupport@axoncapitalrealty.com.

Sources:

Monika Warzecha. “Where to Buy Now: St. Lawrence.” Toronto Life. 9 January 2012. Link

Tracey Hanes. “St. Lawrence neighbourhood in the heart of it all.” Toronto Star. 24 September 2010. Link

Toronto Real Estate Board. “Toronto Neighbourhoods Map.” Link

City of Toronto. “St. Lawrence Neighbourhood Focused Area: Urban Design Guidelines.” Link

Posted January 24, 2012.

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