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Corktown is one of the more affordable downtown Toronto neighbourhoods. It has recently become popular with young professionals, who find this location extremely convenient to Toronto's downtown business and entertainment districts.

New and more relaxed zoning bylaws in the Corktown district have resulted in the speedy conversion of many of Corktown's commercial buildings into live-in work studios, condominium lofts and professional offices, all of which has helped to revitalize the entire neighbourhood.