Recently, the financial sector has been on the thoughts of people around the world. As the housing crisis in the United States deepened, it was not just this country that was affected. Just as Wall Street is the center of financial business in the United States in New York City, Bay Street is the hub of all things finance and banking in Canada.

The term Bay Street goes all the way back to 1797. It joined Watts Street (Queen Street West) to a bay in the Toronto Harbor. This Bay Street area is now home to four out of five top Canadian banks. Bay Street is also synonymous with the country’s top full service law firms, also known as the Seven Sisters.

In recent years, the price of gas has skyrocketed affecting the pocketbooks of citizens long before the 2008 financial crisis did. People around the world are looking for more affordable transportation options. For many years, energy efficiency and conservation were not on the minds of many people. It was not until energy affected their pocketbooks, that people began to consider alternative energy sources and conservation methods as important to their lives.

Toronto’s Financial District
on Bay Street

The City of Toronto has planners that have been thinking outside the box for a long time. Before large cities in the United States began to push efforts to make urban living more comfortable, the City of Toronto was already putting it into action. They began funding developments centered on the idea of urban neighborhoods. The plan was to build affordable townhomes, condos, and lofts that would place mass transit, shopping, recreation, and childcare facilities within walking distance.

A mass exodus from the suburbs to the urban center in Toronto began in earnest in the 1990s. Tired of long commutes on congested thoroughfares, city residents gave up their lives in the suburbs for condos closer to their workplaces.

The Bay Street area was part of the development process that drew residents to move in to the city. The neighborhood is full of new condominiums and townhomes. People can choose from upscale lofts with great views and make prices. Affordable alternatives are widely available in the area as well. If you have a good real estate broker, he can help you find a nice town home or Toronto condominium in a desirable neighborhood.

CONTACT US for VIP pricing and floor plans: info@thetorontocondos.com