City of Toronto
Vacancies: 1.1% ↓
Rents: $1,197 ↑
A Tale of Three Cities
It’s in the neighbourhoods of the old cities of Etobicoke and York where the bulk of the City of Toronto’s apartment supply has grown in the past few years.
Etobicoke and York are experiencing the same economic and social challenges of the rest of the City of Toronto. Two of the city’s priority neighbourhoods can be found here: Jamestown in the north and Weston-Mt. Dennis in the east.
In the apartment universe, Etobicoke breaks apart into three separate districts with very different economic pictures. North of the 401, in areas such as Rexdale, investors are encountering a challenging economic and demographic landscape, depressing rents and returns. South of the 401 and north of the Queen Elizabeth Way, however, including the old Town of York, the situation is a lot more stable, with properties available for long term holds.
South of the Queen Elizabeth Way, the picture improves dramatically. The old villages of Mimico, New Toronto and Long Branch have worked through economic issues from deindustrialization and have begun to revitalise. Plenty of mid-sized apartments are available for rebuilding and repositioning; with an increasing number of renters seeing this as an affordable alternative to downtown, with good transportation connections, returns are bound to be good.
The old cities of Etobicoke and York have a long way to go before they can catch up to North York or Toronto’s concentration of apartments.
In spite of its employment challenges, Etobicoke and York should see improved apartment demand in the years to come. South and central Etobicoke enjoys good transportation connections with Toronto’s downtown core, and the construction of the Eglinton-Crosstown LRT should improve connections for the old City of York, as well as densities along Eglinton Avenue.
- Etobicoke and York’s split personality will continue, with strong opportunities in the south, a stable market midtown, and economic difficulties in the north.
- Excellent potential for repositioning and increasing densities along the lakeshore.
INTERESTED IN NEW APARTMENT CONSTRUCTION IN THIS REGION? FILL OUT THE FORM BELOW TO REQUEST THE RECENT TRANSACTIONS.
Global Director Buildings
Mansoor Kazerouni is an Architect with over 27 years of experience and a significant portfolio of projects completed or underway across Canada, the United States, the UAE, Jordan and India. These include high density high-rise residential buildings, hotels, office, retail, institutional, and complex urban mixed-use developments. A number of these projects have been nominated for and received Urban Design and Architectural Design awards.
Mr. Kazerouni is the Global Director of Architecture at IBI Group, leading a team of over 1,400 Architects, designers and Engineers located in 60 offices worldwide.
Mr. Kazerouni has been a guest lecturer on the subject of architecture and mixed-use design at universities, conferences and various panels. He has also been interviewed on the subject by newspapers, architectural publications, television and other media.
Mr. Kazerouni's abilities and expertise in his field have been recognized by his appointment to the City of Mississauga's Urban Design Advisory Panel, the City of Markham’s Urban Design Advisory Panel and the City of Vaughan's Urban Design Advisory Panel. He is also a past Advisory Board Member of the Urban Land Institute, a member of the Ontario Association of Architects, the Alberta Association of Architects, the Nova Scotia Association of Architects, the Architects Licensing Board of Newfoundland and Labrador, and a member of the Royal Architectural Institute of Canada. He has testified as an expert witness at the Ontario Municipal Board and at Arbitration Hearings related to development sites.
Darryl McCullough CCIM SEC
Broker - Royal LePage Lakes of Muskoka Realty Inc., Brokerage
President - Crescent Equity Management Inc.
Since 1972, I have been given the opportunity to interact with seasoned partners and clients in structuring and organizing both simple and complex real estate transactions involving acquisition, disposition, finance, and consulting in Canada and throughout the United States. It has trained me to bring a unique, personal client-centered approach to each assignment, from simple to complex transactions and the diverse clientele who own them.
In 1984 I received the Certified Commercial Investment Member, CCIM, designation (www.ccim.com); an internationally recognized identity confirming amortized knowledge in the disciplines of investment, development etc.
Another prominent membership I thankfully am able to continue holding is with the U.S. based Society of Exchanges Counselors (www.secounselors.com). This organization shares my belief in pursuing and demonstrating problem solving techniques in the real estate industry based on proven principles of integrity, professionalism, and accountability. Through this organization I continue to dedicate myself to what is true in the discipline of real estate problem solving.
Technology coupled with a learned research and analytical skill set now allows me to carry out these functions with selected projects from my adopted Muskoka home.
I continue to maintain an ever changing “student” learning status not only related to the physical asset, but equal or more importantly, drawing out corporate/personal situations and objectives and then knitting together ultimate benefit packages based on creative solutions via time honoured formulas.