Cabbagetown sits astride the west bank of The Don River Valley in Toronto, just opposite Riverdale and just north of Corktown. Irish immigrants flocked to the neighbourhood in droves starting in the 1840’s to escape the Potato Famine and to work at nearby factories. Cabbagetown’s name is derived from the fact that so many of the residents chose to dig up their front yards and plant cabbage in order to help put food on the table. Officially, Cabbagetown’s boundaries run from Sherbourne St in the west, Wellesley St to the north, Gerrard St and Shuter St to the south and The Don River to the east. It has been said that Cabbagetown boasts the largest and most well-preserved collection of Victorian homes in North America.
Primarily a working class neighbourhood, most of the Cabbagetown real estate are brick homes that were built in the early 1900’s, a time when Cabbagetown seemed to reach the peak of its prosperity. After WW1 the neighbourhood became increasingly impoverished, and began what ended up being a 50 year slide into becoming known as one of Toronto’s worst slums. This all started to change in the 1970’s as young professionals and community activists started to move into the area to revitalize and gentrify the once thriving neighbourhood. Today, Cabbagetown is truly one of the most pleasant “walking” neighbourhoods in Toronto, with its narrow tree-lined streets and gorgeous Victorians as far as the eye can see. Strolling through Cabbagetown feels like you’ve walked right back into a bygone era. Cabbagetown has several little retail pockets, but the primary commercial district is definitely “Old Cabbagetown” centred on Parliament St, and is home to numerous unique restaurants and shops.
Cabbagetown real estate is some of the most desirable in the city, with many of the large Victorian Cabbagetown homes changing hands for in excess of $1M. Proximity to the downtown core and the unique history and character of Cabbagetown real estate are definitely the biggest contributing factors to the rising home values. Cabbagetown has approximately 10,000 residents, their average household income is well above average for the City of Toronto and Cabbagetown homes for sale cost an average of $625,000.