Riverside — sometimes called the East End or South Riverdale — is a neighbourhood bounded roughly by the Don River to the west, Broadview Avenue to the east, Queen Street East to the south, and Gerrard Street to the north. It's one of Toronto's most dynamic and rapidly gentrifying inner-city communities, blending long-established working-class roots with a new generation of young professionals, artists, and families.
The neighbourhood's main commercial intersections — Queen and Broadview, and the Broadview strip — host most banking services, while many residents increasingly rely on digital banking options for everyday needs.
Riverside straddles the old and new Toronto. The Don Valley ravine system makes it a uniquely green urban neighbourhood, and landmarks like the Broadview Hotel and the Riverdale Farm give it a character distinct from other inner-city areas. The housing stock is mixed: Victorian rowhouses and Edwardian semis predominate, with increasing condo development near the Queen-Broadview intersection.
TD has a branch presence in the Broadview and Queen East area. For Riverside residents, TD's mortgage pre-approval process and First Home Savings Account are particularly relevant given the neighbourhood's appeal to first-time and move-up buyers.
Scotiabank serves the east end with branches along Queen Street East. Their digital banking tools are popular among Riverside's tech-forward residents.
RBC's comprehensive banking services and mortgage products appeal to professionals and families in the area.
Alterna has historically served Toronto's east-end communities and is known for competitive mortgage rates and credit union values. Riverside residents who want a community-focused banking experience often choose Alterna.
BMO branches along Danforth and Broadview provide accessible service for Riverside and surrounding east-end residents.
Riverside is within the City of Toronto, so both Ontario and Toronto Municipal LTT apply.
On a $1.4 million purchase, Ontario LTT is approximately $22,475. Toronto LTT is approximately $17,475. Combined: approximately $39,950. First-time buyers can apply up to $12,475 in rebates, reducing the net LTT to approximately $27,475.
Riverside's rapid price appreciation creates specific mortgage challenges:
The east end's affordability relative to downtown core has attracted real estate investors. For rental property financing in Riverside:
Riverside's Queen Street East strip has seen an influx of independent businesses. For small business owners, major banks offer business chequing, merchant services, and small business lines of credit. Alterna and Meridian Credit Union have particularly strong small business products for neighbourhood entrepreneurs.
Toronto is expensive enough. KOHO offers free banking with no monthly fees and no minimum balance. Use code 45ET55JSYA for a bonus when you open your account.
Open KOHO Free — Code 45ET55JSYARiverside generally refers to the area west of Broadview (between the Don River and Broadview), while Leslieville is east of Broadview along Queen Street East. Both are part of Toronto's east-end gentrification wave but have slightly different characters — Riverside being slightly more affordable and less commercial.
Ontario LTT: approximately $18,475. Toronto LTT: approximately $13,975. Combined: approximately $32,450. First-time buyers can claim up to $12,475 in rebates, reducing this to approximately $19,975.
Yes — CMHC is available on purchases up to $1.5M, so a $1.4M purchase qualifies. With 10% down ($140,000), the CMHC premium is 3.10% on the insured amount of $1.26M, adding approximately $39,060 to your mortgage balance.