Cabbagetown is one of the most sought-after neighbourhoods in Toronto, but will this fact stay true over the next five years?
There’s no sign that the housing market will backing down in Toronto, and our city seems to be following in the footsteps of other cities around the world that are witnessing a growing gap in wealth and strain on the middle class. The gentrification of Toronto is in full swing and Cabbagetown, in the eyes of many, is the epicentre of this trend. It and other neighbourhoods around the city that were once home to a variety of economic backgrounds, are now primarily suited to those families that can afford their atrocious rents (as well as the few that find the remaining good deals).
Is Cabbagetown worth it? Will it still be a highly sought-after neighborhood five year from now? Let’s take a look.
Cabbagetown Preservation Association and Victorian heritage
The Cabbagetown Preservation Association was established in 1989 to preserve the architectural heritage of the neighbourhood. Cabbagetown was defined as a heritage conservation district in 2001 and boasts the largest area of Victorian-era houses in all of Toronto. The architecture ranges from workers’ cottages from its early days as a landing pad for poor Irish immigrants, to second empire. Any exterior renovations to the houses must mimic the original facades and be approved by authorities. This preservation, along with the gentrification of the area, has made Cabbagetown an absolutely stunning neighbourhood that celebrates its residential architectural history. Such a picturesque neighbourhood, rich with history, inevitably draws housing market and rental market interest that will most likely be sustained over the next five years, despite rising prices.
The Cabbagetown Farmers’ Market
http://www.cabbagetownmarket.ca/
The Cabbagetown Farmers’ Market is a lovely market to visit. Their mission is to provide local and sustainable food to the neighbourhood and strengthen ties between the community and southern Ontario farmers. From artisan cheeses, to organic produce, ethically sourced livestock, sustainable flowers, honey, and maple syrup, this market has a diverse selection worth exploring. Having a farmers’ market and the accompanying sense of community, further adds to the charm and desire of Cabbagetown.
Cabbagetown restaurants
There is a huge selection of restaurants ranging from Italian fare, to Pakistani, to Taiwanese, all offering something unique and further enhancing the appeal of the neighbourhood.
The Cabbagetown Festival
http://www.cabbagetownfestival.org/
The Cabbagetown Festival is a wonderful example of community involvement, again adding to the charm of the neighbourhood. The festival includes the arts and crafts sale, walking tours of the historic neighbourhood, film screenings, live theatre, the Riverdale farm fall harvest and much more.
Commercial areas
The shopping areas and other small businesses that serve residents of Cabbagetown have perfected the art of catering to their specific customer type. Yoga, pilates and barre studios, indie cafes, quaint patisseries and designer fashions and home decor are in their prime here, feeding the neighbourhood more of what it craves.
Is Cabbagetown really worth the hype and expensive price tag? Most would say yes – but whether living there is within your budget is another question. But if it is, and you are looking for a beautiful, community driven, and trendy neighbourhood to rent in, Cabbagetown should be on your list.