Last year, about 21 million travelers spent time in Toronto; and it’s not difficult to imagine that every one of them found a fascinating museum to visit, an amazing restaurant to eat in and a vibrant and eclectic neighborhood to explore. The urban landscape of greater Toronto, with over 5 million residents (2.5 million within the City of Toronto), is Canada’s largest metropolitan area, stretching from the shore of Lake Ontario to the far northern suburbs.

Intermingled among the gleaming downtown skyscrapers that overlook the lake and within the growing but still small town-like municipalities of Markham, Brampton and Richmond Hill is a diverse city with a plethora of shops, ethnic cafés, indoor and outdoor sports facilities, art galleries, educational institutions and stunning architecture that has revitalized the city’s reputation for urban design. Toronto is also the largest English-language theater center outside of London, and its annual film festival is considered one of the best in the world. Not only is Toronto a leading arts and cultural center, but it is Canada’s business and financial center as well, with a vibrant stock exchange and headquarters to 176 of Canada’s top 500 corporations; 72 percent of the country’s 25 largest employers maintain offices here, and it is home to 90 percent of foreign banks operating in Canada. The city’s medical and biotech firms make up one of the largest such industry clusters in any North American city.

Toronto has also managed to keep its environment about as pristine as possible for a congested urban center. Corporate Knights magazine rated Toronto as the most sustainable large city in Canada for 2010, citing the city’s ability to reduce corporate greenhouse gas emissions to 40 percent below 1990 levels, as well as having an accessible transit system, solid waste and green building programs and a strong public outreach program called Live Green Toronto.

Although Toronto ranked fourth on The Economist’s list of most livable cities in the world, and Torontonians usually can’t stop raving about its low crime rate, job opportunities and extensive bike trails and sports facilities, the city may be feeling some pressure from Calgary, where a boom in energy prices is drawing in new oil and gas companies, giving that city a lead over Toronto in the proportion of corporate headquarters to population.

As laid-back as Toronto may seem to outsiders, however, innovative architects and local developers see Toronto’s real estate market continuing to grow. Ongoing commercial projects include the $640 million renovation of Union Station and the major East Bayfront project, which will include Sugar Beach, an urban bathing beach, and the Corus Quay entertainment building on Lake Ontario. A 6,000-unit residential complex with 3 million square feet of commercial space and a promenade along the lake is also part of this development. Exhibition Place is undergoing a $24 million facelift in addition to a planned $100 million, 320-suite convention hotel.

Canada, and Toronto specifically, did not experience the same housing foreclosure crisis, as many U.S. cities, and its banks have not suffered the same losses as many U.S. and European financial institutions. Thus, Toronto’s residential real estate market is healthy, and the city continues to attract new residents. New housing and condo projects have been strong in areas like Eglinton/Yonge and King Street/Bathurst, which offer close proximity to city center attractions and corporate offices while providing a quiet, suburban-like ambience. Average home prices in Toronto have been steadily rising for the past 15 years, doubling from about $200,000 in 1995 to over $400,000 during the first half of 2010, according to the Toronto Real Estate Board.

Info To Go

Lester B. Pearson International Airport (YYZ) is 16 miles from downtown, about 25–40 minutes. Airport express buses to downtown hotels cost $20 one way, $33 roundtrip. Metered taxis cost $40–59. Bill Bishop Toronto City Centre Airport (YTZ) is the city’s in-town airport, located on an island 1.5 miles from downtown and connected to the mainland via a free, five-minute ferry; taxi from ferry terminal to downtown is $8. Visit www.seetorontonow.com.

Diversions

Toronto’s iconic CN Tower (301 Front St. W., tel 416 868 6937) opened in 1974 and, at 1,815-feet, is still considered the world’s tallest tower. The view from the top is dazzling. A revolving restaurant called 360 The Restaurant offers lunch and dinner and the highest wine cellar in the world.

The Bloor-Yorkville neighborhood is a shopper’s paradise, with stores like Prada, Gucci, Hermès, Cartier and other top brands lining the tree-shaded streets. This is where you find Toronto’s classiest boutiques, art galleries, antique shops, cafés and restaurants, giving this upscale Toronto enclave real panache.

Several dozen interesting museums are located throughout the city, including the Royal Ontario Museum (100 Queen’s Park, tel 416 586 8000), a natural history and world cultures museum that is garnering lots of attention due to the striking Daniel Libeskind-designed Lee-Chin Crystal building addition. The Gardiner Museum (111 Queen’s Park, tel 416 586 8080) has an excellent ceramics collection; and the Design Exchange (234 Bay St., tel 416 368 0684), located in the original Toronto Stock Exchange building, features unique collections of Canadian and internationally designed products.

The Art Gallery of Ontario (317 Dundas St. W., tel 416 977 0414), founded in 1909, is one of the leading art museums in North America. Although its large collection of Canadian and world art has been somewhat overshadowed by architect Frank Gehry’s innovate design of the new museum complex, completed in 2008, the art within is definitely worth a visit. The Ontario College of Art & Design’s (100 McCaul St., tel 416 977 6000) Sharp Centre for Design, completed in 2004 and created by British architect Will Alsop, is an unusual “table top” structure that seems to float above the older campus buildings. It is one of the most unusual-looking architectural forms in Toronto.

Hockey fans from around the world make their way to the Hockey Hall of Fame (30 Yonge St., tel 416 360 7735) with its state-of-the-art games, exhibits, films and replicas of rinks and dressing rooms — a must-see attraction for those who want to better understand Canada’s most popular sport. Other popular sports-related venues include Air Canada Centre (40 Bay St., tel 416 815 5400) — home of the NHL’s Maple Leafs and the NBA’s Raptors — and the Rogers Centre (next to CN Tower, tel 416 341 1234), formerly the Sky Dome, with its retractable-roof stadium that is home to MLB’s Blue Jays.

From June to August, Toronto’s 11 public beaches provide a clean and safe environment for swimming. Three of the beaches are in Toronto Island Park, (tel 416-392-8193), a 500-acre regional park close to downtown that is managed by the Municipality of Metropolitan Toronto. This group of islands, marinas, beaches, bicycle trails and wildlife reserves is accessed by a 15-minute ferry ride from the Toronto Ferry Dock (Bay Street & Queens Quay) and is open to the public year ’round.

Getting around the city is easy. Downtown is flat, perfect for walking or biking. Explore the diverse neighborhoods outside of downtown by using Toronto’s efficient and pleasant subway system, which has been modernized and upgraded several times since its inception in 1954. Trains run from 6 a.m. to about 1:30 a.m.; a single fare is $3, a day pass $10 (www.ttc.ca).

Lodging

Cambridge Suites Hotel
The 229 deluxe suites feature private bedroom, living room, work area and kitchen amenities. The property has indoor parking and Portico restaurant on site. 15 Richmond St. E., tel 416 368 1990, $$$

Hôtel Le Germain
Sleek and luxurious, the 118-room boutique hotel in the Entertainment District offers free in-room WiFi and fine dining at its Chez Victor restaurant. 30 Mercer St., tel 416 345 9500, $$$$

SOHO Metropolitan Hotel
In this convenient downtown location, all 72 guestrooms and 18 executive suites feature marble bathrooms with heated floors. Senses is popular. 318 Wellington St. W., tel 416 599 8800, $$$$

Dining

Frank
The Frank Gehry-designed restaurant at the Art Gallery of Ontario serves artfully created lunch and dinner Tuesday–Friday and weekend brunch. 317 Dundas St., W., tel 416 979 6688, $$–$$$

The Queen and Beaver Public House
One of Toronto’s best new restaurants, this British-style gastropub serves English cask ale, fish and chips, cock-a-leekie soup and other U.K. favorites. 35 Elm St., tel 647 347 2712, $$

Splendido
Splendido reopened in 2009 with a stylish design and an even better menu featuring fresh offerings from Ontario farms and seafood from the Maritimes. 88 Harbord St., tel 416 929 7788, $$$$