Today I’m in the Junction area. Now, I just read an article a few days ago that said the Junction was looking like it may become the next Liberty Village. Now for anyone’s who’s got experience with the Junction, they might think that that’s a far-fetched idea, but I’m going to give you a few ideas and a little tour and show you why this neighborhood has the potential to be the next Liberty Village.Now, for the purpose of this blog, I’m going to call the Junction from Bloor Landsdowne up to Saint Claire and Landsdowne, across to Saint Claire and Keel, down to Keel and Dundas West.Now, the Junction’s famous for having what’s called fuzzy boundaries because it’s actually not bordered by streets but by train tracks so it’s very hard to determine where the exact boundaries are. In fact, Junction proper probably follows Dundas West to where it meets College because that’s where the actual junction of the train tracks are.
So how is the Junction compared to Liberty Village and why do people think it may be the next Liberty Village? The first thing you can look at is the retailers here on Dundas West. You remember how Queen West used to be before the H&M’s and the Gap’s moved in? It was like this. Funky bookshops, funky furniture shops, small, independent cafes, and cool new restaurants. You’re not going to find this on Queen West anymore, but you do find it in the Junction.
So right now (in the video) you’re facing west. Come with me and take look north. If you look north up Keele here, you’re going to see there’s already heavy condo development happening. These are new buildings, they’ve only been there for a few years, and they’re bringing a lot of new blood into the neighborhood. Now, right behind those buildings is a big, empty track of land that’s already been bought by developers and they’re planning a mixed use residential-commercial neighborhood right up there. This is why people feel that the Junction is developing like Liberty Village. I’m going to take you up there, I’m going to show it to you right now. Let’s go! (watch the video).
I’m at the bottom of Perth Street here, Sterling Road. I had to put my snow shoes on to get you guys this story because we’re deep in the shit right now. Now, I don’t know if you guys remember Liberty Village before it was developed, but it was a lot like this. Just a barren industrial wasteland that really needed some mixed use residential-commercial to come in. So, a developer has indeed bought this tract of land here. In my mind it’s probably about the same size as Liberty Village and they’re going to be putting in nice townhouses, nice condos, and some mixed use retail in here, which is going to blow the roof off this neighbourhood.
Now, I’m going to take you after this just slightly north of here to the Wallace-Emerson district. I’m going to show you two groups of townhouses, tell you what their values are like, and show you how those townhouses are set to appreciate once this development pops off.
Okay, follow me, (watch the video), let’s head up to Wallace and check out the brownstones. Okay! So here we are on the bridge at the end of Wallace. This is the eastern edge of the Junction. If you look to my left you’ve got the brownstone townhouses. Just up the road here slightly on the right is the Davenport Village, another group of townhouses just recently built. So I took a look at sold comparable listings both up here in the Junction and Downtown in CO 1 King West area. I looked at most recent sold townhouse comparables. In the Junction here there were about sixteen of them that have sold since December. I averaged them out roughly to $350 per square foot. I took a look at the last twenty sold comparable townhouses Downtown, they’re roughly $475 to $525 a square foot. So, you’re talking about $150 difference there per square foot on a 1000 square feet- that’s a big difference. Furthermore, if you’re looking for more than a 1000 square feet, let’s say 1300, 1400, very tough to find down in CO 1, but you’re going to find lots of listings up here in the Junction that have that type of square footage.
So, thanks for joining me on my little tour of the Junction here. Now, it may not be Liberty Village yet, it may never be Liberty Village. But there’s a lot of potential here and a lot of room for it to move up. So if you’re thinking about buying a Toronto townhouse, I really suggest you take a look at the Junction. If you want help with it, give me a call. My name’s Chris Borkowski, they call me Condo Chris, and I’m a broker with Re/Max Hallmark here in the Junction. Thanks for watching.
If you have any questions, or you’re looking for Toronto townhouses for sale, a Toronto condo, office space, or rentals call me at 416-486-5588 or email firstname.lastname@example.org.