Canada's Condominium Magazine
Tridel announced this week that preparations for construction are now underway on its mid-town condos, 101 Erskine. The architectural, engineering and construction drawings are finalized, says the announcement, and the excavation equipment has arrived on site. The official groundbreaking ceremony has taken place.
From an urban planning perspective, important both for those who intend to live in a particular neighbourhood and for those who may consider investing in it, 101 Erskine is extremely well located. The Yonge and Eglinton neighbourhood is a textbook example of good mixed use development. Erskine Avenue itself has a long-standing mix of single-family dwellings and apartment buildings. Both Yonge Street and Eglinton Avenue provide a rich mix of retail, entertainment, dining and office space. The surrounding streets, this being an old established neighbourhood, have schools, churches, parks and other community assets. It is the kind of neighbourhood in which it is possible to take care of most of one’s daily needs without having to leave it.
Walkability is very high in this area, a fact that contributes to the vibrancy of the neighbourhood. This ability to walk everywhere in a neighbourhood has been shown to add measurably to the value of the real estate in that area. A vibrant area in which many people of varying ages come and go throughout the day, walking here and there, shopping, meeting each other on the street and stopping to chat, walking the kids to daycare, is an area that people are naturally attracted to, both as homeowners and as renters.
Walkable neighbourhoods where people can get to know their neighbours are perceived as being safer, with lower crime rates and fewer traffic-related problems. They are also seen to be more interesting and even healthier. Established neighbourhoods with a wide range of accessible services and retail are also seen as areas where people can age in place if they choose, knowing that the services they may eventually need are readily available. All of these factors add to the drawing power of the walkable city neighbourhood.
Yonge and Eglinton has the population density, the mix of various types of buildings and businesses and residents, to make it an example of a neighbourhood that has it all and has it right. When one does need to leave, however, the area has superb transit connections, being on the Yonge subway line, and it will soon have the benefit of the new Eglinton Crosstown as well.
View prices and floor plans at 101 Erskine here.