C'mon, James! It's not as if Yonge Street was ever the fucking Parthenon of urban beauty. Some nice old Victorian brick, usually covered with peeling paint and tacky fast food signs.
And people are changing. When I was a trendy "alternative" guy back in the 80's, none of my cool, artsy friends would ever live in anything that wasn't a ramshackle old house broken up into 3 or 4 apartments. If you lived in a high rise, you were a sell-out. Young people these days want to live in a glitzy new condo on Queens Quay.
I think we had the same friends. (And those kind of friends that I had definitely turned me on to a more urban environment and frankly the City of Toronto since I am not native to Toronto.)
Yonge Street and a lot of the cool areas in Toronto had a bit of grit to them. They had feel. They definitely had a street scape.
The new condo blight has none of the above. Faceless banal boxes with nothing but glass frontage. Absolutely NO architectural merit whatsoever. Just a concrete box with spandrel glass bolted to the concrete box.
And if you look at the areas of Toronto where the condos have taken over like weeds, people may live there, but they don't hang out there. They are cold windswept faceless areas. No-one hangs out in the condo jungles around the Rogers Center. Same with Harbour Front. The streets aren't streets, at least not traditional urban streets in a close knit grid pattern. They are more like something you'd see in Mississauga or Vaughan. People simply are not attracted to these areas they are building.
If you look at Toronto, there are pockets / neighbourhoods where people are attracted to. College Street, the Danforth, King West, Kensington, Cabbagetown, the Annex, the Beaches, Bloor West, Leslieville, Yonge and Eglinton, St Lawrence, etc. etc. These places are typified by an eclectic architecture, tight streets, dense, buildings that front the streets. These areas were never really planned in the sense that areas are planned now. They grew organically. The shit I see being built now reminds me of the shit thinking that they came up with in the 50's and 60 with respect to the suburbs.
As far as Yonge Street goes, it never really fit into the "cool neighbourhood" model as I cited above, but definitely there are (or were) very cool neighbourhoods literally around the corner as you walked up Yonge Street. And Yonge Street itself definitely had a feel to it and a history to it.
If you look at the European models, they preserve their old central cores and they build the faceless blight in the suburbs or at least the outskirts. I see no reason that the inner core in Toronto cannot be preserved and the greedy developers can build their boxes in the periphery of the 416. There's nots of land there.