Toronto is one of those cities in Canada that never seems to stop growing. According to National Post, the population of Toronto “outpaced the national growth rate over the last five years”.
This city is the fastest growing in the country, and many might be wondering where new residents from other towns, cities and countries might look for housing. The demand for housing in the Greater Toronto Area is just as high as it is in the Downtown Core, which is why the GTA has more construction projects underway than many of North America's biggest cities.
Since so many people want to live in this great city for work, family or education, we'll look at three of the city's most rapidly growing neighbourhoods, using census data from our neighbourhood profiles.
King Street West
King Street West is in the heart of Downtown Toronto, stretching across much of the city from east to west. The core of King West runs from Liberty Village on the west to the Entertainment District on the east, meaning there are tons of amenities within short distance if you call this neighbourhood your home base.
Growing at a pace of 46.6% over 10 years, residents living along this bustling strip can have it all. A dedicated streetcar line hustles commuters to their offices nearby, refined dining options usher in patrons after offices close and once the clock strikes some inevitable hour, King Street transforms into a nightlife destination for swathes of Torontotonians.
King Street West really benefits from all of Toronto's downtown perks, which is why developers, investors and resellers alike find the allure of the area almost too ideal to pass up.
Another area that has seen rapid development over the last ten to fifteen years is Fort York, a formerly industrial neighbourhood around Toronto’s Lakeshore and Front Streets that has grown 46.6% according to the latest census numbers.
Like King West (which shares population demographics with Fort York), the neighbourhood is close to all the action. Its proximity to great transit links, highways and even Toronto’s own downtown airport is part of the draw for people looking to set up shop in the megacity.
Fort York residents can look forward to speedy access to top Toronto sports and entertainment facilities, affordable units, plus everything downtown Toronto has to offer. King West and Queen West are a short jaunt over the bridge, one which looks over the neighbourhood's namesake, the Fort York national historic site.
The Waterfront district of the city is another former industrial site seeing a massive overhaul. To the south of Fort York and King Street West, the Waterfront neighbourhood has been steadily transitioning into a residential stronghold in the city, growing 52% from the previous census to the most recent.
Its eastern edge is seeing the most action these days in terms of pre-construction. Residents along the Waterfront can look forward to natural surroundings and stunning views, quick access to the harbour, the Toronto Island, and speedy links to Union Station and the rest of the GTA.
The Waterfront is popular for downtown workers and families who appreciate the amenities of the neighbourhood. St. Lawrence Market, the Harbourfront Centre and Amsterdam Brewery are mainstays in the area providing year-long entertainment and family fun. The Waterfront’s proximity to Old Toronto, Scotiabank Arena, Budweiser Stage and the Rogers Centre make it a pretty difficult neighbourhood to overlook.