For homeowners who can afford it, The Annex is one of the more popular neighbourhoods in Toronto. This neighbourhood, which is typically defined as the area between Dupont Street to the North, Bloor Street to the South, Bathurst Road to the West and Avenue Road to the East, offers buyers the rare opportunity to own a full sized detached home within easy reach of downtown. Convenient to the University of Toronto as well as the Bloor and Yorkville Toronto areas, The Annex is an excellent choice for University professors or administrators as well as anyone who works downtown.
The Annex is one of the older neighbourhoods in the city of Toronto. Settlement began in the area while the original Township of York was still being laid out in the closing years of the 18th century. For many years it was part of the Yorkville settlement, which existed separately from the city of Toronto, but in 1883 it became a neighbourhood of Toronto. One of the first people to live here was the founder of Eaton's, and over the years many more successful and influential people have made their homes here, such as Margaret Atwood and David Suzuki.
The neighbourhood's nearness to the University of Toronto and its popularity with intellectuals, academics, and literary figures has given those looking for luxury condos Toronto a rather unique character. Its quiet, tree-lined streets and imposing old houses give it a sense of peacefulness - like a library for people to live in. While at the same time, the main thoroughfares that make up its borders are home to some of the hippest cafes, restaurants and bars, which are popular with young students and professionals. Overall, it has the feel of a large college campus - a home for intelligent people who know how to party.
The houses themselves are, for the most part, stately old Victorian and Edwardian structures that were built in the last twenty years of the nineteenth century. The original inhabitants belonged to the city's elite upper classes, and it shows in the sometimes ornate design elements incorporated into the homes. Built of sandstone and brick, their use of Romanesque and Queen Anne influences has made them utterly unique to the neighbourhood, which is why the style of home is generally referred to as an "Annex Style" house. Though the houses are large, the population is dense, so there's generally not a lot of breathing room between houses - only small yards or gardens.
Given the area's proximity to downtown, the size of the homes, and its popularity among the wealthy, it won't surprise you to find out that The Annex is one of the most expensive neighbourhoods in Toronto to live in. The average price for a two storey home in The Annex is around $775,000 and rising, even with the recession still affecting the Canadian housing market. By subdividing the larger homes, some apartments and condos have been created. To buy a condo in this neighbourhood will cost you about $475,000.
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