There was an interesting article today in the National Post that interviews Barry Lyon. Here is an excerpt that speak to this question:
"Downtown living particularly appeals to thirtysomethings, says Barry. Firms that want the most talented in the high-tech and creative sectors realize these workers don’t want to commute to boring industrial parks, they want to live and work downtown. They want to walk to work. For many, living in a downtown condo means not having to own car, which is a big saving. Interesting that the suburbs also want to create their own downtowns to attract this desirable demographic. Mississauga, for instance, has a glamorous highrise core and the appearance of urbanity."
Couldn't agree more.