I work a lot in Central McDougall, and can tell the good and the bad. Central McDougall has been an area full of new immigrants. Lots of social housing. If you only ever drive down 107 ave, then nothing has changed in the past 30 years. But the change is coming from the south, and this is not visible from 107 ave.
One of the biggest distractions to the neighborhood is the shrinking old skid row area in McCauley. The old hotels and slums have been knocked down and the former residents are migrating out to 107 ave, 118 ave and Beverly. But many of the temporary housing shelters are located close by. One immigration center has relocated to 118 ave, going where the new traffic is located. The community league has stopped a couple of new housing shelters from being located in the area, probably a good thing.
The tenant profile has changed dramatically over the years. One old time property owner told me that his building was once full of nursing students, as it located close to the Royal Alex hospital. That was a long time ago, and it has transition from nurses to a large Asian population, then to a large African population.
High income earners are not found in the neighborhood.
The good that is happening is from the LRT, and new developments on the south end of the neighborhood.
The LRT line is currently under construction and should up and operating in about 2 years. 105 Ave is closed for construction and 105 st, north of 107 avenue is now permanently closed to traffic. The 2 closest stations will be 105 ave and 104 st and the Royal Alex hospital.
The Arena debate is closer to a hole in the ground. It has gone from 20% chance to about a 40% chance to develop. The city has purchased all the lands in the arena development area. Now they waiting for funding from other levels of Government.
Meanwhile the developers have started on 3 large new condo developments in the 104-106 ave corridor, with several others waiting to break ground.
Solid investments can be found in the area. Lots of poor operations with poor tenants litter the area. Central McDougall is the 2nd lowest priced area in the city. But also some excellent properties with good tenant profile and good cash flow. Steel underwear should be part of your management strategy.
Ask again in 10 years, and this could a totally different neighborhood.