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It is a community of distinct downtown neighbourhoods including the site of the original Town of York, which was Toronto's first neighbourhood, dating back to 1793. It is home to hundreds of restaurants, nightclubs, sporting facilities, boutiques, hotels, attractions, and live theatre.The area boasts one of the largest concentrations of 19th century buildings in Ontario. The district was formerly an industrial area and was redeveloped for entertainment purposes in the early 1980s, becoming a major centre for entertainment.The area to the east of Yonge Street is still in transition, with conversion of industrial lands to mixed residential and commercial uses planned.

Today downtown Toronto contains dozens of notable skyscrapers.

The Harbourfront area to the south was formerly an industrial and railway lands area.

Since the 1970s, it has seen extensive redevelopment, including the building of the Rogers Centre stadium, numerous condominiums and the Harbourfront Centre waterfront revitalization.

The redevelopment started with the Mirvish family refurbishing of the Royal Alexandra Theatre and their construction of the Princess of Wales Theatre.

The area is now the site of Roy Thomson Hall and the Canadian Broadcasting Centre.

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The Financial District, centred on the intersection of Bay Street and King Street is the centre of Canada's financial industry.