A neighbourhood in Toronto, which has become a popular home for creative types, could change forever. That’s according to residents and realtors in the Annex where gentrification could mean a shift away from the traditional art and academic background of many residents, especially as prices continue to rise. Realtor Elise Kalles told Post City Toronto: “The Annex has become Toronto’s most heterogeneous community. Yes there are artists and academics, but it is a very in-demand area for successful business people and well-known socialites.” With new developments planned for the neighbourhood it’s not just the demographic make-up that is under pressure. The Annex has many heritage buildings that residents are keen to protect; a preservation order was granted in September for Madison Avenue.
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