I wanted to weigh in with my thoughts about Riversdale/20th Street.
Put me in the camp that firmly believes the area is on the rise and will turn the corner. It will not happen overnight, but it will happen. Although 20th Street is probably not ready for a pub yet (to answer EarlyByrd's question), there are still some strong indications that things are on the up-and-up.
The forces of gentrification have been underway in the area for a few years now. There are some widely agreed upon indicators of gentrification that can indeed be identified in Riversdale. The movement of artists into an area is considered to be an early indicator. Artists are considered to be 'pioneering gentrifiers.' They are attracted to an area such as Riversdale not only for the cheaper rents, but because the area's character is desirable to them. As a result, their movement into an area helps render it culturally desirable. In Riversdale, we can find AKA/PAVED Arts, La Troupe du Jour, the SSO, SK Native Theatre Company, etc. taking up residence.
We're also seeing 'guerrilla' developers come in to invest, upgrade properties, and realize potential that others may not see. In Riversdale, Shift Development has undertaken The Two Twenty project and is working on The Flats townhouses. Individuals are also buying and upgrading the character housing in the area as similar stock in Nutana, Varsity View, City Park, and Caswell Hill becomes out of reach price-wise.
The City is an actor in this too. River Landing and the Farmer's Market is nearby, developments that have impacted the desirability and potential of the area, and will continue to have a huge impact as they come to completion. Past and future streetscaping projects, the continued work of the Riversdale BID, and other City initiatives such as the Vacant Lot program and facade grants are to be considered as well.
There are new businesses popping up on 20th St. and around River Landing: Collective Coffee, yoga studios, some new restaurants, Cava Wines, etc.
All these factors are building momentum, and it is only a matter of time before the tide really turns and the ball gets rolling faster and faster. Riversdale is on the verge, a few more nudges and it will be on its way.
I have heard from some reliable sources murmurs of what could be in the works for the area yet. Property is changing hands, developers are inquiring, new businesses moving in, etc. Give it a year, and we might very well see what weight these murmurs hold.
Of course, there are still challenges to overcome. But if I had some money to invest, I'd be tempted to put it in Riversdale. Stay tuned.