With large open spaces and huge ceilings, lofts have long been popular among artists for the area they offer in which to work. Toronto and other major metropolitan centres are seeing an increased demand for loft developments due to the convenience offered by a do-it-yourself, unrestricted space. Keep in mind when looking for lofts in Toronto that they are much more in demand than ever before; combined with the natural real estate prices in the Toronto area this means that loft seekers can’t expect their space to come cheaply - most lofts are similar in price to condominiums.
Given the background of the loft market, it should come as no surprise that major loft developments occur within the Toronto districts most likely to draw a bohemian, or bohemian-minded, crowd. These areas include the Annex, the Fashion District, the Theatre District and the Entertainment District. The Sylvia Lofts are located at 50 Camden Street in Toronto’s Theatre District. It is a low rise development that includes some loft conversions as well as new loft developments. Sixty-four units in the building have a price range between $200,000 and $300,000, and come with moving walls for private space as well as plenty of light from large windows.
Just to the west of the Theatre District, and to the southwest of the Fashion District, is the “Twenty” development at 20 Niagara. There are four suites per floor in this development, with every two suites sharing a private elevator. All suites include balconies, with penthouses incorporating roof decks and terraces. These spacious units are older, built in 1998, and range in price from $700,000 to over one million dollars.
The conversion of old warehouses to loft units is commonly called “hard” lofts (as opposed to “soft” lofts, which are new from the ground up). This hard loft style is what is offered in the Merchandise Building, on Dalhousie Street in downtown Toronto near Ryerson University and the Eaton Centre. The Merchandise building was built as a department store, and later became a Sears warehouse, before being converted to lofts in the 1990s under the guidance of the City of Toronto.
There are certain characteristics that are essential to loft living. Loft owners are typically inclined to create their own space while still maintaining easy access to important areas and amenities of the city. Toronto offers several developments that can meet the requirements of any potential loft owner.
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