This neighbourhood of Toronto became known as the Financial District in the later half of the 20th century when the Big Five banks (CIBC, RBC, BMO, TD and BNS) established their head offices here. Many skyscrapers were built in this neighbourhood as well bringing many other major corporations and firms to this area. Today, the Financial District of Toronto is the business capital of Canada.
It wasn’t until the late 90s that this area started to attract residents. Up until then, the Financial District was seen as a place to work and not as a place to live and its streets were often devoid of life in the evenings or on weekends. However, in the late 90s and 2000s, Toronto experienced a large condo boom that brought many new condos, lofts and townhouses to the area. Many young people started to move to this area and it steadily grown as a community of Toronto in which to both work and live.