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Spotlight on the Distillery District

Blog by Doriana Zohil-Morton, Broker of Record/Owner | July 6th, 2018

The Distillery District is a heritage-style community in the east end of downtown Toronto. It is bordered by Parliament St to the west, the Gardiner Expressway to the south, Cherry St to the east, and Mill Street to the north. Originally an industrial hub, the area helped make Toronto a dominant shipping centre for Canada.

The area as we know it today got its start back in 1832 when The Gooderham and Worts Distillery was founded... a distillery that was the largest in the world by the late 1860s. Although the distillery itself has since closed, the area has been well-preserved and contains the largest collection of Victorian-era industrial architecture in North America. The area has seen a resurgence in popularity with the transformation of the area into a pedestrian-orientated area with many new building developments. The Distillery District is an attraction unto itself, with a fabulous array of restaurants and pubs, and a spectacular Christmas Market in December. Commute time to the financial district of downtown is 16 minutes by streetcar, or 14 minutes by car.

Real Estate in the area still offers homebuyers some great options. As of May 2018, there were 374 new listings, selling for 102.4% of asking price, within 12 days, and with an average selling price of $739,916. Ten years ago the average selling price was $361,849, so real estate in the area proves to be a great investment. One bedroom rentals rent for, on average, $2,400 per month.

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