Yorkville, Toronto - Character

Character

Yorkville has upscale shopping, restaurants, and the first five star hotel in Canada. Upscale boutiques include Burberry, Prada, Gucci, MAC Cosmetics, Hugo Boss, Chanel, Hermès, Louis Vuitton, Holt Renfrew, Tiffany & Co., Escada, Ermenegildo Zegna, Cartier, Harry Rosen, Calvin Klein, Cole Haan, Vera Wang, Lacoste, Ferrari, Maserati, Rolls-Royce Motor Cars, Williams-Sonoma, Bang and Olufsen, Betsey Johnson, Max Mara, Montblanc, Bulgari, Birks, Coach, Guerlain, Swarovski, and other upscale designer boutiques. The Holt Renfrew store on Bloor is the luxury retailer's flagship and largest store with four floors and boutiques. Many flagships of other companies are located here as well, such as Harry Rosen, Town Shoes, Lacoste, Gucci, Coach, and Chanel (in which the Canadian flagship became one of the largest in the world.) Browns Shoes opened on Bloor, with merchandise that is much more expensive than at their other boutiques.

In recent years, mid-market retailers have begun to locate along Bloor. In 2005, Winners and La Senza opened stores, later followed by French Connection, Puma, Aldo, Aritzia, Club Monaco, Banana Republic, American Apparel, Roots Canada Ltd, Guess, Nike, Zara, Roots, Lululemon, Sephora, Gap and H&M. Discount retailer, Labels 4 Less, recently opened their own store, to the disappointment of many of its neighbours. Nonetheless, Yorkville has been recognized as one of the most luxurious shopping streets in North America, being compared to New York's Fifth Avenue, Chicago's Magnificent Mile, and Los Angeles' Rodeo Drive. Demand is still high on Bloor St., according to real estate firm, Cushman and Wakefield. 5 years ago, retail space rents were $110 per square foot. Although, last year's Cushman and Wakefield report indicate rents of $198 per square foot, their Q407 Toronto Retail Report mentions current deals reaching $300 per square foot, making Bloor St. the third most expensive retail street in North America. This has led to higher rents on Cumberland St. and Yorkville Ave., with several new developments asking $125 per square foot. Expensive Indian fashion boutique INDIVA, which moved to a smaller boutique on Yorkville Ave., claims that the monthly rent at their previous location was $85,000. Many independent retailers struggle to meet these demands, and many in past years have closed or relocated to other streets. However, it is estimated that some retailers pull in more than $2000 per square foot in sales.

Luxury hotels in Yorkville include the InterContinental Toronto Yorkville, Four Seasons, the Park Hyatt, the Hazelton Hotel, the Windsor Arms Hotel, the Residence on Bay and the Toronto Marriott Bloor Yorkville Hotel.

There are many offices and professional services. Notable companies/organizations include the Retail Council of Canada, Canada Post, IBM Canada, Alliance Atlantis, Famous Players, Paramount Pictures, Showcase Television, Twentieth Century Fox Film Corporation, Unilever and the consulates of several nations.

MTV Canada headquarters are located in Yorkville as well. Canada's largest museum and the fifth largest in North America, the Royal Ontario Museum is located at the intersection of Bloor and Avenue Rd. The area north of Bloor St. on Cumberland and Yorkville contain petite streets with cafes, restaurants and specialty boutiques. It resembles more of a European style district.

Yorkville is home to some of Toronto's most expensive condominiums, most starting at over one million dollars and going well beyond, including: The Prince Arthur, Renaissance Plaza, 10 Bellair, One St. Thomas, Windsor Arms Hotel, The Hazelton Hotel & Residences, Hazelton Lanes.

Bloor Street Transformation Project

Begun in 2008, the Bloor-Yorkville Business Improvement Area and the City of Toronto are updating the street-scape from Church Street to Avenue Road. The objective is to create an enhanced pedestrian experience with widened sidewalks, mature trees, flower gardens, modern lighting and public art.