Condos are changing the trendy shopping strip and erstwhile hippie hangout into a real neighbourhood

It took about 30 years, but the trendiest, most touristy part of Toronto - where the well-heeled congregate to stroll, shop and dine - is now on its way to becoming a neighbourhood again.

Not the kind of populist community of the 1960s, when Gordon Lightfoot and Joni Mitchell performed in the old folk music haunts, but an exclusive neighbourhood for affluent urban professionals and wealthy empty nesters.

So far, 16 new condo developments have risen or are slated to rise on the prestigious urban streets in the Bloor-Yorkville area.

"Yorkville is the highest-income population bracket in Canada," says Stephen Chan, president of Max & Co. Development Inc., the new owners of Hazelton Lanes. Chan and his company will be redeveloping this landmark Yorkville plaza as well as building a condo on Avenue Rd.

"Most of these 16 condo projects will be finished by 2002. These are high-density developments and, because of them, the population in and around Yorkville will increase dramatically," says Chan.

Although this influx draws from the same group of people who travel from Rosedale and Forest Hill on weekends to do their shopping in Yorkville, they will now need places to buy groceries and drop off their dry cleaning.

That's why Chan and his company will be dedicating 30 per cent of Hazelton Lanes for stores that will provide the day-to-day needs of these new residents. One of the main new tenants will be a massive organic and natural food store.

The remaining 70 per cent of this upscale plaza will continue to be occupied by fashion boutiques and specialty shops. Chan believes this new surge of development that began two or three years ago reflects our prosperous economy.

"A lot of wealth has been accumulated in the last couple of years. There are two types of people moving into Yorkville - empty nesters who spend winters in Florida, and very well-off young professionals who are mostly couples without children," says Chan.

Nestor Repetski of Winick Realty Corp., who is the marketing consultant for two Yorkville sites - 20 Collier and 77 McMurrich - offers a different perspective.

"This surge of development has been in a gestation period for a long time," he says. "What has happened in the last few years, coupled with a growing economy, is people's perceptions of a condominium lifestyle. It has become a very desirable way to live. We have accepted the European sense of living right within a city, close to subways, restaurants, theatres, cafes and shopping.

"The land was available 10 years ago, but people weren't ready for that lifestyle back then," he adds.

"Condo and loft development has taken off everywhere in Toronto. The difference here is that the kind of people who buy a condo in Yorkville are able to afford bigger spaces despite the prices. Yorkville is a champagne experience, as compared to Queen St. W., which was once a domestic beer experience, and is now rising to an imported beer experience."

Consultant Barry Lyon, who specializes in urban development and housing, agrees there has been a renewed confidence in the inner city, unlike other cities where people are deserting the core.

"Bloor St., from Yonge to Avenue Rd., is transforming into the most fashionable street in North America. It has changed from a street with vacant stores and lack-lustre rents to taking over from Yorkville Ave.," he says.

"This section on Bloor St. forms the edge of two of the most desirable Toronto neighbourhoods - the Annex and Rosedale. It reflects the trend for larger stores than Yorkville Ave. can provide. And the residents that will be moving into these new condos are exactly the type of people who will be patronizing these high-end retail stores.

"As for Yorkville Ave. itself, it is tired and dated," Lyon adds. "It is time for it to reinvent itself and I believe these new residents will make that happen."

A very important influence on the area, according to Lyon, is the presence of four of the city's premier hotels - The Four Seasons, Park Hyatt Toronto (the revitalized Park Plaza Hotel), New Windsor Arms and the Inter-Continental.

Lyon notes Yorkville will be anchored by the Prince Arthur, a condo by Minto Communities on Avenue Rd. just north of Bloor, and a new Minto project being planned on Bay St. between Cumberland and Yorkville Ave.

"Although the Prince Arthur has had a major influence on the area, it was the Windsor Arms, along with Tridel's No. 10 Bellair, that broke through the old price barriers," says Lyon.

According to Tridel president Jim Ritchie, there has been a tremendous demand for No. 10 Bellair. Open for just 12 months, 100 of the 122 very expensive suites are sold.

"The majority of purchasers are empty nesters coming from larger homes outside of Toronto, though there are quite a few coming from Rosedale, Forest Hill and Hogg's Hollow," Ritchie says. "We even have some American and European buyers.

Chris Sheriff-Scott, senior vice-president of Minto, confirmed the company is planning another tower on Bay St.

"As for our new condo, the whole street front will have retail all along Bay St. We are trying to bring the calibre of Bloor St. retailers north along Bay up to Yorkville," he says.

The Bloor-Yorkville business association has been keeping a close eye on the area's redevelopment, in addition to its regular role in making the street more attractive to shoppers.

"We have made streetscape improvements by hanging flower baskets and putting in planters in the summer. In the winter months, we put up Christmas decorations like wreaths, holiday sprays on lamp posts and wrap lighting around hydro polls," says Lisa McGee, general manager of the Bloor-Yorkville Business Improvement Area.

"We also work with the city on issues of garbage and traffic controls for these new developments to ensure they won't pose a huge additional burden to a particular street," she says, adding the BIA works closely with the planners and builders.

"Builders come to us in the early stages of development, looking for our support for their projects. There are a lot of condos still in the planning and approval stages. This development trend in Yorkville-Bloor will continue for at least the next five years."