Liberty Village is a small community in Toronto just south of King Street West, between Strachan Ave and Dufferin St. Originally a military stronghold in the late 1700, the area was then transformed in the late 1800’s to house the Toronto Central Prison and Reformatory for Women (ie: women’s prison). However, in the early 1900’s the prison was torn down and the area became more of an industrial area, mainly due to the proximity to the railway lines.
The area as we know it today, really began to take shape in the early part of this century. Largely due to a decline in rail usage, industrial buildings had fallen into disrepair and were either demolished or converted into residential lofts. The loft focus of most buildings attracted many young, artistic professionals looking to buy their first piece of real estate, while staying close to the downtown core. The neighbourhood has a very distinct, vibrant feel to it, with excellent coffee shops, unique furniture stores, art galleries, and restaurants. The Brazen Head pub can be found filled to the brim on sunny summer days. The area is a short walk/run/bike from the beautiful trails around Lake Ontario, and is an easy walk to the Ricoh Coliseum/Exhibition Place, BMO Field, and CNE grounds. Commute time to the financial district of downtown is 15-20 minutes by streetcar, or 35 minutes walking.
Real Estate in the area was hot in the early 2000’s, and is even more so now. The market consists mostly of condominium units. In February 2000 there were 132 new listings (180 active), selling for 107.5% of asking price, within 32 days, and with an average selling price of $236,069. Fast forward to May 2018, where there were 795 new listings (613 active), selling for 101.4% of asking price, within 16 days, and with an average selling price of $703,774. As you can see, the area is even hotter than ever. If you purchased in 2000, and sold today, you are selling for nearly 3x what you paid. Truly an excellent investment. One bedroom rentals rent for, on average, $2,162 per month.
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