The Lowdown on Corktown

Your Typical Neighbour

Young professional. Very possibly works in the arts, as the many work/live spaces are conducive to creative pursuits, as well being close to a number of Toronto’s film studios. First time buyers are also taking advantage of the recent flood of chic studio and live/work spaces.

What We

Once considered a seriously ‘no night walking’ district, the gentrification spark has caught and there are some great investment opportunities to be had here, especially as West Donlands development continues.

What We Don't

There’s still a lack of retail and culture at your door here, although this is likely to continue changing. For now there’s a bit of a walk to the nearest grocery store.

It’s important to note that in Corktown the majority of sales in any given (recent) year are condos. Of the few freehold homes available, many of the Victorian row houses in Corktown date as far back as the 1850’s and represent some of the oldest examples of the architecture in the city. They also represent some of the smallest! Used originally as workers cottages for the many local factories, they are located on narrow streets nestled between more major thoroughfares. There are some cute spaces to be found here, although be aware that some can be as narrow as 12 feet wide!

There are also a number of unique live/work options in this area, as many industrial and commercial spaces are being repurposed into attractive studios; for those who choose to simply live vs. work here, the commute to the downtown core is quick and easy.

Overall, the surge in development spurred on by Pan Am preparation is lighting a fire under the changes that have been anticipated here for quite some time. And the development isn’t showing signs of stopping anytime soon - Corktown and its neighbours are really just beginning to come into their own. We anticipate this will continue to be a neighbourhood worth watching, and we’re fascinated to see what the post-sporting frenzy brings on the Real Estate front.

HOUSE STATS

2013 2014 2015
AVERAGE PRICE $682,385 $753,003 $1,067,672
PRICE: Low-High $380,000-$1,606,000 $480,000-$1,980,000 $685,000-$1,549,000
AVERAGE DAYS ON MARKET 12 17 34
# OF SALES 22 29 9

CONDO STATS

2013 2014 2015
AVERAGE PRICE $415,813 $447,638 $453,251
PRICE: Low-High $28,000-$985,000 $33,000-$1,575,000 $30,000-$1,950,000
AVERAGE DAYS ON MARKET 27 22 24
# OF SALES 332 346 372

Area: 1km

Population: 16,310

Demographics

Kids: 8%

Youth: 11%

Seniors: 8%

Visible Minority: 19.8%

Average Family Income: $93,734

Education

Lower Education: 17.4%

Higher Education: 19.8%

Home Ownership

Owned Homes: 41%

Tenanted Homes: 59%

Schools are nearby, though the options are limited. Given the area is in the earliest stages of being reclaimed from industrial wasteland, this is perhaps not surprising.

ELEMENTARY SCHOOLS

Nelson Mandela Park Public School
St. Paul Catholic School

Extremely convenient transit is right outside the door, and getting better as development increases and the city prepares for the need to transport the masses to and from the Pan Am athlete’s village. Easy access to the DVP and Gardiner keep drivers happy.

About Corktown

Just south of Regent Park and north of the Gardiner Expressway we find Corktown. Nobody really knows 110% for certain how the neighbourhood gained it’s name. There are theories, yes, there are two. Firstly, many believe ‘Corktown’ is a name that pays tribute to its originally (predominantly) Irish-settled community – in which many of these people emigrated from County Cork in Ireland. The second theory, is that the area’s name is due to the presence of cork-stopping manufacturers, breweries, and distilleries. To this day, we don’t know what one is right – so I guess you could say we have choices.

Today, Corktown’s once very ‘blue-collar’ demographic has changed.Once abandoned, or unkept, homes are now host to Toronto professionals, and families, drawn to the area’s classic and historically-rich charms.In fact, some of the city’s oldest homes (dating back to 1850) are found in Corktown. We can now see British, and Victorian, style rowhouses peppering residential streets, while converted industrial and multi-use buildings, sprinkle laneways and side streets.

Walking through Corktown it’s easy to see the positive effects of the reshaping, and investment, in Regent Park (to the north) as well as the massive West Don Development project. It is estimated that these projects will bring thousands of new residents to this central area and help promote prosperity for local businesses and residential investors.

Excellent shopping, fine restaurants, cafes, art galleries, boutiques, and artisanal goods, can all be found within walking distance from Corktown. Proximity to both the St.Lawrence Market and Toronto’s historic Distillery District make this a highly coveted neighbourhood that will only continue to improve.


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