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KING WEST VILLAGE

History:

King West Village was originally part of the Military Reserves of the Town of York – the forerunner to the City of Toronto. Victoria Memorial Square – now a neighbourhood park – was Toronto’s first military cemetery. In the 1830s the military reserves were auctioned off and a “New Town” development was created for this area. Grandiose in concept New Town was to be defined by Clarence Square and Victoria Square which were to be linked by a grand treed boulevard called Wellington Place.
In the 1850s with the arrival of the railway to Toronto the character of this neighbourhood would change dramatically. King West would evolve as a busy industrial and manufacturing centre. Many of the old industrial buildings from the 1800s and early 1900s have recently been converted to residential and commercial uses.
By the 1990s most industry and manufacturing had moved out from King West and the area was run down and buildings were in neglect. In 1996 the City of Toronto stepped in and enacted the King-Spadina Plan to attract new investment in order to revitalize this area. The plan worked brilliantly as developers began to build new condominiums that catered to young and hip urban professionals. Restaurants and nightclubs were also added to the mix and soon enough you had the recipe for a vital new downtown neighbourhood now commonly referred to as King West Village.

Overview:

King West Village is one of Toronto’s fastest-growing neighbourhoods. It has been compared to the Soho neighbourhood in New York. King West Village is especially popular with young urban professionals, both singles and couples, who desire an urban lifestyle close to their downtown offices and within walking distance of Toronto’s entertainment district.
In addition to residential options, King West Village also includes commercial office spaces and one of the most active nightclubs and bar scenes in Toronto. The Thompson Hotel located at 550 Wellington Street West has become a popular neighbourhood landmark.
King West Village now has the added cache of being the host neighbourhood for the Toronto International Film Festival which takes place annually in September. This TIFF festival attracts mega-stars to premiere screenings and creates a buzz throughout the whole neighbourhood and the entire city. The headquarters for the festival is the TIFF Bell Lightbox theatre on King West, which is surrounded by glitzy new condominium buildings that reflect the urban-esque lifestyle enjoyed by residents of this neighbourhood.

Lifestyle:

You do not have to leave the neighbourhood to furnish your condominium. There are many stylish home furnishing shops and art galleries in the area that cater to the tastes of the young urban professionals that live in this neighbourhood. Fitness and lifestyle-related businesses have also set up shop here. Grocery stores are nearby and general stores with all the essentials are readily accessible.
Toronto’s Chinatown district on Spadina Avenue is a short walk north of this neighbourhood. Food markets are plentiful here. Kensington Market to the north is also within walking distance. This old world market will delight the senses with the sounds of international music and the scent of exotic spices emanating from the eclectic mix of shops and restaurants.

Homes:

King West Village has one of the best selection of condominium buildings in the city. These are low and mid-rise buildings. Many of these are designed as soft lofts with units that feature lots of light and open spaces, high ceilings and balconies. Some of these buildings also contain two-storey loft condominium townhouses.
There are a handful of authentic hard loft buildings in the neighbourhood, that are characterized by their red brick exterior, large windows and architectural accents. These loft units may have features such as concrete floors, exposed wood beams, and exposed brick. There are also a handful of historically designated row houses on Draper Street that date back to the 1880s.

King West Village Real Estate Update
July 22,2014

The King West Village neighbourhood has been at the forefront of Toronto’s condominium boom. In fact this neighbourhood owes its remarkable revitalization to the building of condominiums which have been snapped up by buyers choosing to live and work in downtown Toronto. Connie Farmer, Sales Representative, Sutton Group Old Mill Realty Inc., Brokerage brings us up to speed with King West Village real estate: “King West Village continues to grow and develop and seems to increase in popularity every year. There is great demand for neighbourhood condos from both first time buyers and investors. There is also a very competitive rental market with low vacancy rates.”
If you are looking for an affordable entry into King West Village you might want to start with a 1 bedroom unit. There have been 139 one bedroom units sold this year. Some of these would have included a small den. Sales ranged in price from $260,000-$670,000. The square footage for these units ranges from 400-1000 square feet. Twenty of these 1 bedroom units sold for asking price or above asking refecting the strong demand from first time buyers. Farmer says: “The majority of King West Village buyers are young couples and professionals wanting to live downtown within walking distance of their work. These buyers enjoy the plethora of restaurants and being within walking distance of the waterfront, Queen Sreet West, the Air Canada Centre and Rogers Centre.”

Two bedroom condo sales in King West Village have also been brisk this year with fifty-one sales recorded. These have ranged in price from $450,000-$850,000. Included in this total were three sales for over 1 million dollars with one of these being a large penthouse unit and the other a large 3 bedroom unit. Overall the average price per square foot for a condo in King West Village is currently between $500-$600.
There is no doubt the condo market in King West Village is strong. The stats back this up with units generally selling in just two to three weeks – and many times in just a few days – and with a list to sale price ratio of approximately 98%. Farmer points out that King West condos are low-rise to mid-rise which creates a neighbourhood feel that is clearly popular with homebuyers. Farmer adds: “I don’t see the King West market slowing down anytime soon”. Farmer who resides in King West Village says that buyers in her neighbourhood are making a lifestyle decision as well as a financial investment when they buy a home here.
King West Village neighbourhood real estate update provided by Connie Farmer, Sales Representative, Sutton Group Old Mill Realty Inc., Brokerage. You can contact Connie direct at 647-539-2561 or at the office 416-234-2424 or by email: connie@lindatickins.com. Connie welcomes you to visit her website http://www.conniefarmer.biz/
(C)NeighbourhoodGuide.com
** The information provided herein is compiled from source data obtained from the Toronto Real Estate Board. It is presented here for information purpose only. All data are subject to updates and revisions. The publisher assumes no responsibility for the accuracy of any information shown.

Recreation:

Victoria Memorial Square located at Wellington and Portland Streets is Toronto’s first military cemetery. A war monument and interpretive plaques in this park commemorate Canada’s fallen soldiers. Today, this urban park represents where new lives are starting and new stories are being told.
Clarence Square situated at Spadina Avenue and Wellington Street West is a residential urban park that harkens back to the Victorian era. Clarence Terrace a row of historic townhouses facing the square from the north provides a nice visual backdrop for this neighbourhood green space.
St. Andrew’s Market and Playground is a small park located at Bathurst Street and Adelaide Street West. It is the first Toronto park to have a playground for children. The playground and other park features have recently been upgraded.
King West Village is within walking distance of the Toronto waterfront trail which is perfect for walking, jogging and bicycling. Sports fans will delight in the fact that Air Canada Centre and Rogers Centre, the home of Toronto’s professional sports teams are also within walking distance.
The Arts are also represented here with numerous galleries and studios nearby and live theatre and musical performances on King Street.

Transportation:

A myriad of streetcar routes on Bathurst and King Streets and on Spadina Avenue will connect passengers to either the Yonge-University-Spadina subway line or the Bloor subway line. Motorists are just minutes from the Gardiner Expressway and Lakeshore Boulevard which link to all the major highways leading into and out of the city.