Yorkville Toronto is a unique area in Ontario, Canada. It is famous for top shopping malls, art galleries, gourmet food, and ultra-luxury residences. It is roughly bordered by Bloor Ave in the south, Davenport Road in the north, Yonge Street in the east, and Avenue Road in the west. The administrative division belongs to the “Annex” community.
Yorkville Toronto has gradually become a well-known wealthy district in Canada, which is very popular among entrepreneurs, sports stars, elites, and celebrities. In recent years, some ultra-luxury high-rise apartments have appeared in Yorkville, overlooking Rosedale. The price of apartments in Yorkville Toronto is the highest in Ontario, ranging from a studio of more than 600,000 to a large apartment of 8 million. These new changes make Yorkville Toronto “Billionaire Street” on Manhattan’s 57th Street overlooking Central Park in New York, USA. (Billionaires’ Row, Manhattan) comparable.
Yorkville Toronto currently has 12 large-scale construction projects in progress, and 11 proposed projects are awaiting municipal approval. Projects currently under construction will more than double the existing housing supply in the area, and another 3,000 units have been submitted for approval. As of June 2019, 91% of the units under construction have been sold in Yorkville Toronto. Yorkville Toronto is expected to grow at a rate of 42% in the next four years and will continue to cultivate high-spending people. The average selling price of a new three-bedroom apartment of nearly 3,000 square feet (280 square meters) in the area hovers around $6.5 million, or $2,200 per square foot.
The annual average household income of Yorkville Toronto is more than 300,000 Canadian dollars, which is 171% higher than that of the Toronto metropolitan area. As these major residential projects come online, they will also add approximately 270,000 square feet of new retail space along the existing 2.2 million square feet of corridors. This will increase inventory by 13%, which will provide ample new opportunities for retailers wishing to enter the market.
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