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Yorkville Neighbourhood Info

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Yorkville, although officially part of the Annex neighbourhood, is roughly bordered by Davenport in the north, Bloor in the south, and traveling east from Yonge to Avenue road, is unique in and of itself. However, the upscale impression left by its name doesn’t always ring true.

A residential Yorkville, founded in 1830 as a suburb of the Town of York, it became an incorporated village in 1853. Only 30 years later, Toronto annexed this first village of the city.

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For the next 80 years Yorkville’s back streets essentially remained unchanged while Toronto expanded well beyond the village’s borders. With the construction of the Bloor/Danforth subway in the 1960s, this former Toronto suburb began to see its first major changes.

Through the decades of the 1960s and 70s, many residences were converted to coffee houses as hippies and folkies migrated to Yorkville Avenue, bringing national attention with them. Although the Purple Onion, the Riverboat, the Millwheel, and the Mynah Bird hosted top name folk music and blues artists, new changes continued and expanded.

An exclusive shopping district replaced what was while city officials instituted the completion of the east-west subway. Real estate values increased quickly in the 1980s and 90s as major department stores, like The Bay and Hold-Renfrew, and office towers took the place of Bloor Street retail outlets. Residential buildings were also converted along Cumberland and Yorkville Avenue.

Yorkville’s status also increased to be North America’s third most expensive retail area with the addition of luxury hotels, art galleries, fine dining and cafés, specialized boutiques, and exclusive retail stores. However, although Yorkville’s renowned is owed to names like Hugo Boss, Gucci, Prada, Louis Vuitton, and Harry Rosen, the original core of the village still remains outside of the extravagant.

Just north of Yorkville Avenue, the residential and retail combine to display the affectionately refurbished Victorian homes on quiet tree-lined streets. Set among them are the heritage homes on Hazelton, the smaller cottages on MacPherson, and a diversified array of newer and older condos elsewhere. These Yorkville homes and condos make up the picturesque real estate that is so valued in the market.

For example, on MacPherson for $600,000, one might find a tiny semi with two bedrooms and a small yard with no parking. On Yonge Street, a larger standard two bedroom resale unit could cost up to $500,000 while the completed 2012 future suites at the Four Seasons complex will begin at $1.5 million. This is most assuredly an upscale neighborhood but one that is certainly in high demand.