The Value of Investing in Canadian Downtowns - International ...

LIVABILITY
Is the downtown vibrant, liveable & connected?
Population
Downtown Toronto has experienced strong population growth in the recent
decade. From 1996 to 2006, the downtown grew by 17% or by 24,575
people. Toronto’s population is quite dense at 104 people per hectare.
While growth in the downtown core is already strong, it will likely accelerate
in the coming years as thousands of new condominiums enter the market.
Diversity
Toronto is one of the most multicultural cities on the planet, yet downtown
Toronto has a lower portion of migrants than city wide (approximately, 39%
to 49% of the population respectively.) Downtown Toronto also has a
slightly younger population, with 35% of residents aged 20-34 compared to
23% citywide. The widely discussed trend of empty nesters moving into
new downtown condominiums was not yet reflected in the age structure
census data for 2006. Downtown residents also have a lower median
income than residents across the City, however over the past decade this
gap has been closing and the median downtown household income
increased 40% compared to 31% citywide.
Downtown has
168,604
residents
17%
population growth downtown
between 1996-2006
(compared to 5% citywide)
39%
of the downtown population are migrants
(compared to 49% citywide)
2
average household size
downtown (compared to 3
citywide)
Housing
Downtown Toronto is home to many residents, who have traditionally lived
in the historic, dense, but largely low-rise neighbourhoods that surround
the financial core. These core neighbourhoods offer distinct designs and
heritage qualities, ethnic diversity, a wide range of housing types, a wide range of housing prices (although prices are
generally increasing) and a strong mix of land uses. However, new neighbourhoods are emerging that have departed
from this traditional pattern of development and are characterized by high rise towers, midrise structures, small
household sizes and young or empty nester populations. For example, a “doorman survey” conducted by Councillor
Adam Vaughan’s Office found only 128 children living in the nearly 5,000 units that have been completed in the new
City Place. 12 As downtown Toronto continues to grow and increased pressure is placed on its housing supply, it will
be critical that strategies are developed to achieve vibrant, diverse and multi-generational communities, able to meet
the needs of their populations for an entire life span. A recent report by Demographia identified Toronto as “severely
unaffordable”; the city has experienced a deterioration of 40% in housing affordability since 2004 13 . This issue will
need to be addressed in order for downtown Toronto to develop vibrant and accessible communities for diverse
income levels.
10
large format grocery stores
downtown
12
Keenan, E. (2011). Retrieved from http://www.thegridto.com/life/real-estate/is-cityplace-toronto%E2%80%99s-next-ghetto/. Accessed 2012 January 16.
13
Demographia (2012). Demographia International Housing Affordability Survey: 2012. Retrieved From http://www.demographia.com/dhi.pdf. Accessed 2012
January 30.
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