Etobicoke undergoing massive redevelopment
In real estate terms, an area in transition is a good thing, since it generally refers to progress, development and things being on the upswing.
Etobicoke is just one of those areas.
Really? Etobicoke, that large, narrow north-south swath that stretches from Lake Ontario up to Steeles Ave., and shouldered by Humber River on the east and Etobicoke Creek on the west? With large, well established and affluent neighbourhoods?
Yes, one and the same – the west end locale with the funny name people often mispronounce (FYI the K is silent) – that wasn’t exactly in need of an upgrade.
Blessed with a strong natural location due to its proximity to downtown Toronto, easy access to the QEW and Hwys. 401, 427 and 27, the Bloor subway line and several major TTC and GO Transit hubs, Etobicoke has long been a sought-after residential location.
North Etobicoke, for its easy highway access, plethora of commercial ventures and lower priced real estate. Etobicoke Centre, for its proximity to the Islington-City Centre West central business district, and exclusive neighbourhoods with large, treed properties such as the Kingsway. And South Etobicoke, or Etobicoke Lakeshore, for its prime lakefront location and areas such as Humber Bay and Mystic Pointe.
But when it comes to new condo development and buying opportunities, it’s all about the south. Well, mostly the south, until very recently.
Etobicoke Lakeshore was the first to transition, with the former motel strip at Lakeshore and Park Lawn giving way over the last several years to dozens of new projects. Today it is one of Toronto’s hottest new condo destinations. Your location here is right on Lake Ontario, with outstanding views of downtown Toronto, along the Martin Goodman Trail for cycling and running, and close to the Gardiner to commute into the city and to the QEW to head west. TTC bus and streetcar service is quite literally at your front door.
The area could get another massive boost if a proposed redevelopment of the former Christie’s bakery site at Lake Shore and Park Lawn goes ahead. Owner First Capital Realty’s plan for the 28-acre site – known, at least temporarily, as 2150 Lake Shore – calls for 15 new residential and office towers, from 22 to 71 storeys, new parks and public spaces and employment.
Now the condo boom is spreading north, into the central part of Etobicoke with new developments along Dundas St. W. between Islington and the 427, and several more planned for the south side of Dundas just west of Kipling subway. New condos are also springing up along the 427 near Burnhamthorpe, appealing to those who prefer highway access over transit.
A little further west, the Cloverdale Mall neighbourhood may get a major facelift in the next few years, as QuadReal Property Group is proposing a comprehensive master-plan to redevelop the existing 32-acre mall property into an innovative and dynamic mixed-use urban community. The proposal involves transitioning Cloverdale with a re-envisioned retail offering, residences, parkland and greenspace, community uses and new streets.
Indeed, construction will also be the order of the day in Etobicoke Centre. For years. Six Points intersection, known locally as “Spaghetti Junction,” is a complicated interchange where Kipling, Bloor and Dundas all intersect. To support future development in the area, the City is spending tens of millions of dollars to modernize the road and surrounding infrastructure. Plans include improved pedestrian and cycle access, wider sidewalks, more trees, street furniture and improved access to Kipling subway. The station itself is being expanded into a regional transit hub to link the TTC with GO Transit trains and buses, as well as Mississauga Mi-Way bus lines.
Location, location, location
Bordered on the south by Lake Ontario, on the east by the Humber River, on the west by Etobicoke Creek and Mississauga, and on the north by Steeles Ave. W.; population 365,143.
• Centennial Park
• Etobicoke Waterfront
• Humber River
• Sherway Gardens
• The Old Mill