Keeping up with the Joneses has always been a rite of passage for many homeowners. When your next-door neighbours pave their driveway, you put in cobblestone. When you put in a fountain, they put in a pool. But take a trip to the Bridle Path neighbourhood in Toronto and you’ll quickly discover keeping up with the Joneses means bulldozing the old mansion and rebuilding another with an extra six rooms. Welcome to Canada’s richest neighbourhood.
Even those who haven’t visited Toronto are likely familiar with the city’s tony Bridle Path area. Located near the centre of the city and a short drive from downtown, palatial mansions, many locked behind gates and obscured by hedges, are designed to impress. And they are truly mansions: eight-bedroom, 16-bathroom homes are commonplace here with an average going price north of $13 million. And more are popping up all the time. The number of new homes in various states of construction is as impressive as the houses that dot the leafy streets. To say it’s a sought-after address is an understatement. Considering three of the five richest neighbourhoods in the country are clustered together in this part of town, it’s unquestionably the choice area for Canada’s richest households.
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