Parkdale condo glut?

Tunney's Pasture workers and fans of Ontario microbrews will note with sadness the closing this month of The Cottage and a Kitchen on Parkdale Avenue after the owners received an offer too good to refuse.

The property—coincidentally a stone's throw from the new SOHO Parkway—has been purchased by Richcraft with the intention of building condos. Further north on the same stretch, Urbandale has secured a parcel of land with a view to more of the same. If the Urbandale development is even half as good as what they've done with Riverside Gate, then this space will be one to watch:

But with 8 condo buildings north of Scott St,
it seems that this section of Parkdale is poised to become another condo alley (ghetto?) similar to Laurier Ave West.

Given the number of units in the neighbourhood there is very little turnover and with good reason. For the most part these 1980s buildings feature spacious, well built units in an excellent location that used to be under the radar. But most are more than 20 years old, and these are dog years when it comes to condos. It will be interesting to see how these established projects hold their value against the glamour and size of these upstarts.