subject: Toronto Condos And Lofts Appeal To A New Generation Of Homebuyers [print this page] Like other Western cities, Toronto companies have shifted their focus from manufacturing to more technologically and service-oriented businesses, resulting in distinctly different housing needs. Where neighborhoods such as the popular King West area once housed blue-collar workers, these downtown streets are now filled with the luxurious Toronto condos and lofts of young professionals and forward-looking retirees.
Since many of these residences started as production facilities, they have retained their commercial permits and are therefore ideal for dual-purpose home-business combinations. Many young professionals in various service industries live and work in luxurious Toronto developments like the DNA lofts and condos, including artists and artisans, lawyers, and other one- or two-person firms who design their spaces to suit their individual needs. Two lofts of the exact same size can look completely different, depending on the owner's taste and lifestyle. One could be an office with sleeping quarters, while another might resemble a cozy cottage home with a comfortable workspace. DNA lofts truly do become part of their owner's identities, and many residents cheerfully label them with the names of their home streets, and sometimes even their actual addresses.
Downtown residents don't have to leave their neighborhood to find everything they need for daily life. In King West, for example, bars and restaurants abound, as do boutiques, bookstores, specialty shops of all kinds, and providers of services like dry cleaning and home repair. An atmosphere of small-town friendliness pervades the area, lending an air of warmth and security to the entire neighborhood. Pedestrian walks and bike paths also keep automobile traffic to a minimum, which maximizes safety and reduces carbon emissions in the Toronto air.
Toronto real estate offers an eclectic mix of old and new architecture, giving prospective owners and lessees a wide range of choices, from high-ceilinged, undivided loft space in converted factories, to new glass-faced high rises with terraces, pools, gyms and every other conceivable amenity. As Toronto real estate prices rise for single family homes, more young professionals and newly married couples are opting for condos and lofts, and developers have made the available choices limitless in both style and price.
A modest loft can be had for less than half the price of a small single residence, while the more affluent might choose a five-bedroom high-rise penthouse for several million dollars. And, although current reports show a softening of the housing market, predictions are optimistic for a rise in employment, leading to more buoyant sales during the latter half of the coming year.
