Home to more than 8,000 licensed restaurants and food vendors, Toronto’s culinary scene is truly world-class. While you’re steps away from great food anywhere in the city, certain neighbourhoods are known for their high volume of popular eateries.
Downtown Toronto and ultra trendy areas like King West or Ossington Avenue are often touted as the city’s top hubs for dining. However, there are a few new communities slowly making a name for themselves in the restaurant world.
If you’re thinking about buying or starting a restaurant, choosing to do so in an up-and-coming area can help you cut back on real estate costs and reap the rewards of its rising profile.
Keep reading for our list of Toronto’s next culinary neighbourhood hot spots.
Want to know more about becoming a restaurateur?
Download our ultimate guide to buying a restaurant
How Restaurant Trends Evolve
Toronto’s restaurant scene is closely connected to real estate. Operating a restaurant in a stylish, high-foot-traffic area is a dream for many entrepreneurs, but that comes at a cost.
Like residential real estate, certain neighbourhoods are in higher demand than others when it comes to commercial properties, specifically restaurants. Because of this, many newer restaurateurs search for communities where the cost of real estate is better suited to their budget.
When these restaurants make a splash with customers. Other restaurateurs begin flocking to the area, elevating demand and cost. Eventually, costs become so high that the next generation of entrepreneurs must look elsewhere, and the cycle repeats.
Dreaming of opening a restaurant in Toronto? Read these other blog posts for more advice!
- 5 Types of Restaurants in Toronto
- How Many Michelin-Star Restaurants Are in Toronto?
- Diversity in Toronto’s Culinary Scene
Why Location Matters For Restaurants
Your restaurant’s location isn’t just a matter of taste or status. It’s one of the most critical factors in the success of the business.
Location directly influences your operating costs, what type of customers you attract, natural exposure and marketing, proximity to competitors, and plenty of other variables. That’s why it’s important to think carefully about where you choose to buy or build your business.
With that in mind, launching your restaurant in one of Toronto’s up-and-coming restaurant hot spots has some compelling benefits. Although demand is starting to rise in these areas, you still get a nice balance between buzz and budget-friendliness.
Where Are Toronto’s Next Culinary Hubs?
Truth be told, there are future hotspots in the making all over the city. But for the sake of this blog post, we’re going to highlight just a few.
Geary Avenue
If you’re tuned into Toronto’s restaurant scene, you may have heard about Geary Avenue before. Located north of Bloor Street West, this area was once home to factories and warehouses. Today it’s a quickly rising cultural hub where modern restaurants and entertainment venues have found their niche among the industrial landscape.
In addition to the small but passionate group of local businesses that have played a major role in the area’s revamp, Geary Avenue also plays host to the Geary Art Crawl, an annual festival dedicated to celebrating artists, community leaders, and of course, local restaurants.
Gerrard Street East
Across the Don Valley in the East End, Gerrard Street East is slowly transforming from a locals-only haunt to one of Toronto’s most sought-after culinary destinations. Home to everything from no-frills diners and quirky cafes, to upscale dining outposts and trendy speakeasies, this end of Gerrard Street and its surrounding communities have welcomed a diverse range of restaurants.
Harbord Street
South of Bloor Street West, Harbord Street is another culinary hub that’s slowly building notoriety. On Harbord, two characteristics stand out: volume and variety.
Currently, there are more than twenty restaurants on this modest street, more than a dozen of which are condensed into a stretch of a few blocks near Spadina Avenue. You’ll find all kinds of cuisine from high-end sushi to casual Italian and everything in between.
Over the past couple of years, a small portion of Harbord Street near Bathurst Street has become a micro-hub for local pizza makers, with trendy spots such as Nice Slice and Blondies joining long-standing legends like Pizza Gigi.
Looking for complementary restaurant real estate resources? Check out these other resources from our blog – on the house!
- How Restaurant Real Estate is Evolving
- Restaurant Sales: What’s on the Table During Negotiations?
- Key Terms in Restaurant Real Estate You Should Know
Bring Your Restaurant Dreams to Life
If you’re looking to open a restaurant, you’ll want a professional expert in your corner. That’s where we come in, Carve Real Estate.
As professional specialists, we know the unique ins and outs of commercial real estate and Canada’s restaurant industry. Not only can we help you find the perfect spot to bring your dreams to fruition, but we’ll also serve as your long-term advisor on all things restaurant-related, including financing.
Looking to open a restaurant in Toronto (or beyond)? We can help! Send us an email or give us a ring at 416-618-0054 to get in touch.
