When considering homes for sale in Toronto's Alexandra Park area, you first have to decide on a condo or house as that will dictate which part of the neighourhood to search within.
The neighbourhood has two sections. The first is the newer area near Kensington and Chinatown which is dedicated to the Atkinson Housing Cooperative, providing partially-subsidized housing across an 18-acre site. The area is currently undergoing a massive, 10-15 year long revitalization project led by the Toronto Community Housing Corporation. Many of the older housing units are being torn down and replaced by new townhouses and condos and new streets are being created to open up the area.
One of the most anticipated new condo buildings is the SQ by Tridel at Spadina and Queen.
The second area lies to the south of the neighbourhood. This is the older part of Alexandra Park which consists largely of townhouses and freehold row houses from the late 1800’s. There are however some semi-detached houses and bungalows from the 1920’s to 1930’s as well.
Here, with a bit of watching and waiting, you can find Toronto homes for sale for less than nearby neighbourhoods north of Dundas. But you're rolling the dice on the neighbourhood revitalization being as successful as its contemporary in Regent Park and early signs aren't pointing to the same level of positive change.
Alexandra Park is one of the lesser-known, or certainly not well-understood, neighbourhoods in Toronto, often losing share of popular mindset to its trendy neighbours Kensington, Trinity Bellwoods and King West.
Ask most Torontonians to tell you where Alexandra Park is, let alone what the neighbourhood is like, and you’ll probably hear is that in Toronto? This sounds like a negative at first blush but for prospective homebuyers who aren't concerned with image and who don’t mind a gritty, transitioning neighbourhood, Alexandra Park may be a solid contender because of its lower-than-average price of entry.
Why We Love Alexandra Park
Its Less Expensive Than Areas Just a Few Blocks Away
If you don’t mind living in an un-gentrified neighbourhood and have a limited budget, you may be able to score a great deal on an Alexandra Park home for sale, allowing you to live in either a nicer, new condo or a freehold house closer to the core than your budget might otherwise permit.
Now we're careful not to use the descriptor "affordable" because a detached historic home is still going to cost you well into the seven figures here (often over $2M) and probably need a lot of work. But compare that to comparable properties in nearby Trinity Bellwoods and you're likely paying considerably less.
It’s Undergoing a Massive Revitalization
A large-scale, redevelopment project hopes to transform the area from solely low-income social housing to one that is mixed-use and mixed-income and therefore more sustainable and vibrant.
The project is well underway. The Master Plan includes replacing over 300 townhouses and apartments, refurbishing a further 470 and adding over 1,500 new units at market-value. Retail space and public parks will also be added to help integrate this area into the surrounding neighbourhood.
- 30thLeast expensive out of 105 neighbourhoods in Downtown$652KAverage home value in Alexandra Park7.84%Year over year change in values
Historical Average Home Price in Alexandra Park