During my visit to the site what intrigued my interest the most was the ongoing construction of the buildings surrounding waterfront Toronto and a lot of already elevated buildings. Many of the building in the area are expensive condominium buildings, retail stores and restaurants. Also internet searching about Toronto, I came to know that waterfront Toronto has experienced substantial investment mostly in the form of high-rise condominium towers which attracted a generous population growth in the city. During my research, I came to know that waterfront Toronto lacks affordable rental housing based on the assumption that high-rise living around waterfront Toronto is only for higher income people because of the high mortgage and lease. This encouraged me to find more about any projects in the area because the area has been mostly occupied by the higher social status belonging to a certain class and pertaining to certain needs.
What I hope to find out through this research?
I will be looking at the statistics of Toronto and hope that by looking into statistics of the population living around waterfront Toronto, I will find out what age group lives there, percentage of the males and females comprising the area. I will also look into the occupation, ethnicity and income of the people owing the houses and the number of houses owned and rented in the surrounding area of waterfront Toronto comparing to rest of Toronto. I also plan on to look at the advertisements both from newspapers and magazines that comprise the real estate section featuring new condominium developments in the multiple listing service (MLS). I am also hoping to find out if the government officials are taking an initiative and making an effort to give rise to the up...
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...of a condominium complex at the foot of Yonge Street. Condo rental prices have dramatically increased over the period of years. This demand for rental housing is growing as buyer affordability issues accelerate and few people can afford to buy a house. This contributes enormously to new condo sales, as condominium investments have proven to be easily managed.
Condominium development is critical to Toronto’ ability to compete in the digital, post-industrial economy and has drawn in large number of people to gentrified neighborhoods of waterfront. This group includes people who work in science and technology, the law, finance and management, the arts, media and the health care professions. The recent growth of waterfront’ residential development in the form of condominium high-rise towers illustrates the massive reinvestment of productive capital into the area.