Liberty Village is a former industrial and prison district in Toronto’s west end, bounded roughly by King Street West, Strachan Avenue, the Gardiner Expressway and Dufferin Street. Its brick factories give it a loft reputation, but most of its homes are newer condos and soft lofts; the best-known residential hard loft conversion is the Toy Factory Lofts on Hanna Avenue, while many other old factories became offices and shops. If you want a loft here, the first question is whether you want genuine conversion character or a newer building with loft styling.
Key takeaways
- Many of Liberty Village’s famous factory buildings, like the Toronto Carpet Factory and Liberty Market, are commercial, not residential.
- The Toy Factory Lofts occupy two former industrial buildings at 41 and 43 Hanna Avenue.
- Toronto’s C01 condo apartment benchmark, which covers this area, was $550,600 in September 2026, down 6.88%.
- Exhibition GO and the King streetcar serve the area now; the Ontario Line will end at Exhibition.
- Rail noise, elevator wait times and fees are the practical things to check.
Where Liberty Village is, and how it got its name
The neighbourhood sits south of King Street West between Strachan Avenue and Dufferin Street, with the Gardiner to the south and rail corridors along its northern edge. Railways laid in the 1850s cut it off from the rest of the city, which is why it developed as an industrial pocket rather than a residential one.
The name comes from Liberty Street, where prisoners released from the nearby Toronto Central Prison and the Andrew Mercer Reformatory for Women first walked as free people, according to the Liberty Village BIA’s history.
From prisons and factories to lofts
Central Prison opened in 1873 and closed in 1915. John Inglis and Company arrived in 1884, making machinery and boilers and later appliances, and Massey-Harris built a farm equipment factory in 1891. Toronto Carpet Manufacturing, Irwin Toy and others followed.
Manufacturing faded from the late 1970s. The Toronto Carpet plant on Liberty Street closed in 1990 and the Inglis plant in 1991. Artists moved into empty buildings for cheap studio space. The BIA was founded in 2001, and condos, offices and restaurants followed; the area’s population density roughly tripled between the 2011 and 2016 censuses.
Hard lofts vs soft lofts in Liberty Village
The hard loft conversions
The Toy Factory Lofts are the conversion most buyers mean. The BIA describes them as two buildings: 41 Hanna Avenue, the former Hinde & Dauch paper mill, and 43 Hanna Avenue, the former Irwin Toy headquarters. Both were converted to residential lofts, with some commercial space in the mix.
Several other landmark buildings are not homes. The Toronto Carpet Factory houses businesses, restaurants and cafés; the “Castle” at 135 Liberty Street is offices; Liberty Market, on part of the old Inglis site, is restaurants, retail and services. So genuine hard loft listings here are limited, and when one comes up in a building with real factory bones, it tends to attract attention.
The soft lofts and loft-style condos
Most residential units in Liberty Village are in buildings completed since the early 2000s, from mid-rise blocks to towers. Some are marketed as lofts because of tall ceilings, exposed concrete or two-storey layouts. These can be excellent homes; they’re just a different product from a converted factory. Our hard loft vs soft loft explainer covers what to look for.
Liberty Village loft prices in 2026
TRREB doesn’t publish a benchmark for Liberty Village alone. The closest is Toronto’s C01 district, which spans much of the downtown core and the west-central neighbourhoods around it. In TRREB’s September 2026 HPI tables, the C01 condo apartment benchmark was $550,600, down 6.88% from a year earlier. The City of Toronto condo apartment benchmark was $543,800, down 6.36%.
A benchmark describes a typical unit, and hard lofts aren’t typical. Expect conversion units to be priced off their own building’s recent sales, and expect fewer of those sales. Our 2026 loft investment analysis explains why soft condo prices don’t always translate directly to hard lofts.
Getting around: GO, streetcars and the Ontario Line
- Exhibition GO Station on the Lakeshore West line sits at the south end of the area.
- The 504 King streetcar runs along King Street West, with the 29 Dufferin bus on the west side.
- The Ontario Line, a new 15.6 km subway, will run from Exhibition through downtown to the Eglinton Crosstown at Don Mills, per Metrolinx. Exhibition will be its western terminus, with a King West station further east. Metrolinx’s project page doesn’t give an opening date, so treat any year you hear as a target.
What to check when buying a loft in Liberty Village
- Rail exposure. Units facing the rail corridors hear trains. Visit at different times and check which side the unit faces. Our guide to loft noise has a showing checklist.
- Elevators and density. Liberty Village is dense. Ask how many elevators serve how many units, and how morning rush hour feels.
- Condo fees and reserve funds. Compare fees on a per-square-foot basis and read the reserve fund study. See why loft fees vary.
- Parking and lockers. Many units don’t include parking, which affects resale for some buyers.
- Rental rules. Toronto only allows short-term rentals in the operator’s principal residence, under the City’s short-term rental rules, and individual condos can ban them outright.
- Two-storey layouts. Check stair safety, ceiling heights on the upper level and whether the bedroom is truly separate.
Tip: In Liberty Village, ask the listing agent which way the windows face and what’s directly outside them. The same floor plan can face a quiet courtyard, a rail corridor or the Gardiner, and that difference shows up in both your sleep and your resale price.
Who Liberty Village suits
It works best for people who want to walk to work downtown or in the King West office cluster, value restaurants, cafés and dog-friendly streets over quiet, and are comfortable with high density. It suits buyers less if they want a large hard loft with private outdoor space at a moderate price, since those are scarce here. For more conversion choice, compare buildings on our loft buildings page.
Frequently asked questions
Are there hard lofts in Liberty Village?
Yes, but fewer than the neighbourhood’s industrial reputation suggests. The Toy Factory Lofts at 41 and 43 Hanna Avenue are the best-known residential conversion. Several other historic buildings, including the Toronto Carpet Factory and Liberty Market, became offices, shops and restaurants. Most homes in the area are in newer condo buildings.
What are the Toy Factory Lofts?
They’re residential lofts in two former industrial buildings on Hanna Avenue: number 41, once the Hinde & Dauch paper mill, and number 43, the former Irwin Toy headquarters. Both buildings were converted to residential lofts with some commercial space. Check current listings for unit sizes, layouts and fees, which vary widely.
Is Liberty Village a good place to buy a loft?
It can be if you value walkability, transit and a busy streetscape. Condo prices in the C01 district fell in 2026, which gives buyers more negotiating room. Check rail noise, fees, elevators and parking carefully, and decide whether you want a true conversion or a newer building with loft features.
Will the Ontario Line stop in Liberty Village?
The Ontario Line’s western terminus will be Exhibition station, at the south end of the Liberty Village area near Exhibition Place. A King West station is planned further east. Metrolinx’s project page does not list an opening date, so buyers should treat any opening year as a target rather than a certainty.
Looking for a loft near King West?
Browse current Toronto lofts for sale and filter for the Liberty Village and King West area.
This article is general information as of October 2026, not legal, tax, mortgage or financial advice. Rules and numbers change, so confirm the details for your situation with a licensed professional.
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