Toronto's next hot neighbourhood? Focus on Fairbank
Published Tuesday, July 22, 2014 10:04AM EDT
A Toronto realtor says the city’s next up-and-coming neighbourhood centres on a small strip of Eglinton Avenue West near Forest Hill.
The neighbourhood known as Fairbank is found along a Eglinton Ave. between Allen Road and Dufferin Street.
Part of Ward 15 Eglinton-Lawrence, the area is home to restaurants, hair salons, grocery stores, and brand new condo buildings. But what's really attracting people is the future of transit in the area.
Realtor David Fleming said the new light rail transit line that will take riders from York to Scarborough is drawing developers and house hunters there.
The area is under construction for now, as roads are torn up and tunnels bored underground. But when bus routes are replaced by the LRT in 2020, it will take commuters only 38 minutes to get from Scarborough to Eglinton-Keele station, compared to 73 minutes by bus.
Metrolinx is working on a crosstown line that will run across Eglinton Avenue from Weston Road to Kennedy Station. The part from Keele Street to Laird Drive, including three stops in the Eglinton West neighbourhood, will be underground.
"This area and that street (Eglinton) will be what Bayview Avenue is in Leaside, what Queen Street is in Leslieville and what the Danforth is in Riverdale," Fleming said.
"The LRT's going to be huge."
The average price for a two-storey home in Toronto is $730,000, but comparable homes sell for about $100,000 less in the area, Fleming said.
With files from CTV Toronto's Zuraidah Alman