My blog readers walked me right into this blog post!
After the Monday blog about the Queensway & Islington pocket, which I feel is up-and-coming, my readers started a dialogue in the comments section about other areas which are under-valued, nondescript, or as the headline suggests, up-and-coming.
Today, I want to give you four areas that I personally think are up-and-coming, but let’s continue the conversation in the comments below the blog about areas YOU feel warrant a mention as well. Thoughts on prices, schools, transit, home style, et al are welcome.
If any of you play fantasy football, you’ll get the following analogy…
Whenever so-called “experts” from websites, magazines, blogs, or podcasts list their “sleeper” picks in July and August for the upcoming fantasy football season that begins in September – or if you’re familiar with Matthew Berry, the “Ten Players I Love” – we have to remember that you can’t call Tom Brady a sleeper, and to say you love the season Antonio Brown is about to have is too easy.
So in determining my “up-and-coming” areas, or for you guys, as readers, to do the same, I think we’re a bit past calling Leslieville “up-and-coming.”
There are a lot of areas I wanted to put in this feature.
One does come to mind that’s between Greenwood, Gerrard, Dundas, and Coxwell – an area with no “name” like Leslieville, Riverdale, Roncesvalles, and the like, and that might be part of the reason why homes are cheaper than if you go one city block west, and one city block south.
But that small square is still in a very hot area – “the east side,” which basically runs from Broadview to Woodbine, from the lake to O’Connor.
Just as the fantasy football prognosticators try to tell you that they would rather pick a sixth-round running back out of a division-two school than the starting running back on last year’s Superbowl champs as their “sleeper,” I’m hoping that one or two of these areas might be new to you, or something you’d never remotely considered.
This was mentioned on Monday, and I whole-heartedly agree.
Sure, Parkdale is still a bit sketchy, but with the “grunge” fad I grew up with, and the “hipster” fad that’s prevalent now, it seems like a lot of folks want something that isn’t la-dee-da all the time.
Parkdale is home to some of the most beautiful, century-old homes in the city of Toronto, and if you drive up and down Dunn and Cowan, you’ll see some wonderful late-1800’s architecture.
These houses are gorgeous!
Parkdale is one of the original Toronto settlements, and believe it or not, it was where some of city’s most elite build homes in the 1800’s because it was perched atop a hill, and provided a spectacular view of the lake.
As time went on, we know all that changed. The houses became dilapidated, many were converted to rooming houses, and the area was far, far from safe.
But south of King Street, all that is starting to change, and I can’t believe the value that exists on some of these houses, both in terms of the architecture (think about what people pay for Victorians in Trinity-Bellwoods, Riverdale, and the like), the lot size, and the square footage of existing homes.
2) New Toronto
I don’t know where the name “New Toronto” comes from, or if it’s relevant.
But the area west of Mimico is about to take off.
It’s a large area as you can tell from the map. I didn’t put a red box around it because I’m referring to ALL that area.
Call me biased, since I just sold a house on Daisy Ave for $1,120,000 this weekend, but the reason I sold the home is because of how much I believe in this area.
Picture a brand-new, 2-storey, 4-bed, 4-bath, 2,300 square feet above grade, 900 square feet below grade, and exceptional finishes both in terms of the workmanship and the quality.
2-car garage, backyard, skylights, main floor family room, and red-brick construction; not stucco.
I could go on and on, but you get the idea. This is a $2.3 Million house in Leaside, or a $1.7 Million house in Roncesvalles.
Yes, it’s further east, but that’s the idea.
And bungalows are still available around $500,000, so you could play the long-game and either build your own home, or sell to a developer in 8-10 years.
3) Mount Dennis
This was also mentioned by a reader on Monday, so call this unoriginal…
But this is a pocket that is surrounded by greenspace (as you can see from the map), and gets very little if any through traffic because these streets don’t really go anywhere.
And the prices are, by just about anybody’s definition in Toronto today, “affordable.”
How about a detached, 2-storey, 3-bed, 2-bath, for $462,000?
And of course, I’d be remiss if I didn’t mention the Eglinton Crosstsown LRT stop that’s going to be built at Mount Dennis.
This is the end of the line, as it stands now, but it’s a 10-minute walk from the house pictured above, and I think any house on the Eglinton line, from Kennedy to Mount Dennis, is going to increase in value.
4) Kennedy Park
This area is also called “Scarborough Junction,” but as is often the theme in the city, we get a different name from Google, a different name from MLS, and a different name from the people that actually live in the area.
This is a large geographic area, and I was going to cut it off halfway north at “Corvette Avenue,” but because one of the reasons I feel this is up-and-coming has to do with the Eglinton LRT station at Kennedy, we may as well include those crescents south of Eglinton.
Eglinton also has a GO Train station, and for people trying to get to Union Station as fast as possible, any GO stop is a blessing.
At the bottom of the grid, on St. Clair, you also have a Scarborough GO.
I’m not trying to make this area be all about transit, but with two Go stations, and an LRT station about to be built, it has to be considered.
The houses themselves are exceptional value.
The area is dominated by $500,000’ish bungalows, much like what we’ve been talking about on the west side as well, but there are some 2-storey homes as well, and some great deals.
How about a 3-bed, 3-bath, on a 50-foot lot for $620,000?
Maybe Parkdale isn’t that original, but considering how beautiful, original, and large the houses are, and also factoring in how close the neighbourhood is to downtown compared to the other three on this list, I think it could be the next big ticket in Toronto real estate.
I also think that public transit is going to be of HUGE importance as we move forward. You know – as our city grows out of control, with no real plan from our leaders, building transit that would have been effective thirty years ago (topic for another day, I know, I know…), and being able to get to Union in 10-15 minutes, or having an LRT stop within a few blocks of your house, is going to be highly sought-after.
I’d love to hear from you guys below.
I’m sure there are a slew of other areas worth discussing.
And if you want to go outside the central core, or the GTA, no problem.
I’ve got clients looking as far as Oakville right now.
Everybody’s trying something to make sense of this crazy market…