Hi David, love your blog!
One thing I have noticed is that you are not too hot on the fort york neighbourhood.
Can you give some input on why not?
I see buildings with great quality (IE 628 fleet st), and others not so great (219/231 fort york).
With its proximity to downtown and transit(509/511), the island airport, and lots of parks nearby(coronation park and fort york and the upcoming under the gardner project), library, and the upcoming Loblaws.
I see this is a great neighbourhood for people who want to be downtown with out being downtown in the thick of it.
You’re correct – I’m not super-hot on the Fort York neighbourhood.
I suppose if we look at everything on a relative basis, there are other areas I’d rather put my clients in, for the same dollar.
You’re correct, however, that Fleet is home to a better-built condo than Fort York. I see the difference.
But overall, the idea of being sandwiched between Lake Shore Boulevard and the Gardiner Expressway doesn’t sit well with me.
For the longest time, there was no supporting infrastructure, and people were totally car dependent. The new Loblaws might change that to some extent. But I still prefer walking out the front door of a condo, and being one block from everything – coffee, groceries, restaurants, retail, transit, etc. Fort York seems a little bit like living under a bridge, or next to one.
At the right price, I’d be a buyer here. And I have clients who have bought 2-bed, 2-baths for investment who are renting them out at a decent yield.
But would I target Fort York for a buyer who is going to live there? Sorry, but I wouldn’t. Not when there are far better options.