Yonge and Eglinton has been the centre of attention for a while now.
When we want to talk about the Toronto condo market, it’s hard to ignore this blossoming hub.
If you visit the corner of Yonge and Eglinton TODAY each corner is blocked off. Whether it’s a barricade for the construction of the new Eglinton Crosstown LRT or a condo development or an improvement to roads- it’s only up from here.
The sudden boom at Yonge and Eglinton will come as no surprise to people who have been following real estate. As soon as the Eglinton LRT was announced, prices along the proposed line saw a renewed interest from builders and investors.
Booming Toronto Condo Market + Yonge and Eglinton Condos
While Yonge and Eglinton has always been quite a strong area for real estate, steps from Forest Hill and some of the biggest destinations in the city- it hasn’t been quite this accessible for people on a budget. Pre-construction condominiums are actually quite a bit more affordable than the homes in the immediate area.
That said, this is an immense opportunity. Projects are emerging rapidly on side streets surrounding Yonge and Eglinton. While projects like E Condos, E2 Condos and Plaza Midtown have managed to surface on the main streets, there is plenty of opportunity only steps away.
If we factor in that Yonge and Eglinton is already a massive transit hub and it’s connection to the Yonge line to downtown Toronto in only a few minutes is exceptional. The Toronto condo market was late to adapt to this area. While the projects right at the corner of Yonge and Eglinton sold out in a matter of hours- the projects off the main drag aren’t quite as competitive.
If you want to take stock of what makes an area a hub, now factor in Yonge and Bloor condos. Prices at this corner for one bedrooms in new developments are starting from the high $700’s in many cases. Now, consider that Yonge and Eglinton will redefine the Toronto condo market by providing condos right at the intersection of TWO major transit lines.
It’s arguable that Yonge and Eglinton will be the new Yonge and Bloor or comparable in a few short years. It’s not a matter of if, it’s a matter of when. If you need advice placing your chips in the Toronto condo market and are interested in upcoming projects near Yonge and Eglinton- give us a shout! We’d be happy to help you make an informed decision.