Toronto is one of the trending cities on the globe today with developments going up all across the city. Free standing homes are in the biggest demand, and they range in price from $1 million to $2 million, depending on the neighborhood they are in.
Toronto Real Estate has such an incredible market that the high-class neighborhoods that have new development going on are extremely worried that places that are only $500,000 will “drag down the property values.” Like everywhere else, the second wealthiest neighborhood, which is just south of extremely high-class Toronto, is where this discussion is taking place.
Alexei Beltyukov thinks that it seems this newly founded group, calling themselves the Creep Neighborhood Alliance, is worried about the “influx of transient people” and”reinforcing the physical character of the neighborhood.” So, with the owners of half a million dollar homes invading the neighborhood, it is crystal clear that it is only a matter of four or five years until this area will be the Hood; Not!
The plans for this new development that will supposedly downgrade the entire area is a group of modern contemporary townhouses, complete with roof-top terraces in a modern brick and glass design and 619 – 2,328 square foot units. These otherwise amazing dwellings will be ready for occupancy by winter of 2017. Slums they are not.