A hub is defined as the most central place where a lot of activity occurs. Toronto is a large city. It is home to large development in real estate comprising of residential, commercial and industrial sectors. The Greater Toronto Area (GTA) is at the heart of the real estate sector in Toronto. The area comprises of the central city of Toronto and four municipal regions namely York, Peel, Halton, and Durham. The Greater Toronto Area is indeed the Toronto real estate hub.
The central city of Toronto is the centter of the GTA. It has a population of over 2.5 million people, making it the largest city in Canada regarding population.
The regional municipality of York is among the largest in the GTA with a population of slightly above 1 million. It consists of 9 other smaller municipalities with several towns such as Aurora, King and Richmond Hill.
The municipal region of Peel is the second largest municipality with a population of about 1.2 million. Mississauga region in the Peel municipality has the largest population size. The large population has led to subsequent growth in the real estate sector in the region. Some notable developments include the Square One Shopping Centre in Mississauga, Bramalea City Centre in Brampton and Dixie Outlet Mall in Mississauga.
The Halton Region of the GTA is smaller in population, with Burlington being the major city. The towns of Oakville, Halton Hills, and Milton are found in this region. Many people say that in the GTA, the Halton region is the safest to live.
The residential segment of the real estate sector in Toronto is divided into hundreds of neighborhoods that are home to many residents of this city. The neighborhoods are spread throughout the Greater Toronto Area. The city is a great attraction to many people across the globe, and therefore, you will find a mix of many nationalities in the neighborhoods. Some of these include West Humber-Clairville, Kingsway South, Elms-Old Rexdale, Alderwood, Long Branch, Humbermede, New Toronto, Rustic, Black Creek and Clanton Park.
Toronto is also home to a large and thriving commercial segment of the real estate industry. The total office area in Toronto is slightly above 60 million square feet. That is a lot of lettable space. It makes Toronto the largest city in the office market in Canada. The Financial District in Toronto is the nerve center of business in Toronto and Canada. The Financial District has some of the tallest buildings in Canada and the world. The First Canadian Place is the tallest building in Canada and the 8th tallest in the world. Standing at 978 feet and with 72 floors, the building is an icon in Toronto. The Scotia Plaza was completed in the 1980s, and it stands at 902 feet with 68 floors. It is closely followed by Commerce Court, a skyscraper with 57 floors. Toronto-Dominion Centre and Royal Bank Plaza complete the list of five tallest buildings in Toronto Financial District.
The industrial sector in Toronto is also a thriving segment. Toronto is home to many industries that employ thousands of people in the Greater Toronto Area. The food processing industry in Ontario is the 3rd largest in North America. There are about 3,000 food-processing companies in Ontario that process the more than 200 products of the agricultural type, grown in Ontario. Some of the international brands located here include Coca-Cola, Nestle, Pepsico, and Kraft. More than half of the top brands involved in food and beverage processing are headquartered in Toronto, making it a decision-making hub in the manufacturing segment of the real estate industry.
The automotive segment of the industrial sector in Toronto has attracted three major automakers namely DaimlerChrysler, Ford and General Motors. These automakers operate six assembly plants located in the Greater Toronto Area. Many automotive companies in Canada also chose GTA as the location of their headquarters in Canada.