But while Lam and Yee are concerned about the effect of gentrification in the area, Tonny Loui, chair of the Chinatown BIA, isn't worried.
"I think gentrification is a good thing because new shops are coming in. And as you know, the population has grown older and at a lot of the earlier businesses, the people are retiring so we need some new ideas and new operators," he says.
Besides, he says, whereas Chinatown might have once been the singular hub for Chinese groceries and community events in Toronto, today there are thriving hubs of Chinese-owned business all over the Greater Toronto Area in places like Markham, Richmond Hill and Scarborough.
Loui admits rent in the area has gone up about 40 per cent in the last three years and the area isn't quite as bustling and busy as it once was in the past. But he says, it's "still a good deal" for the amount of foot traffic businesses in the area see.
And while several of the newer businesses in the area are Chinese-owned, Yee worries their concerns are less about growing the existing relationships and communities in the area, and more about catering to, say, the significant international student body at the nearby University of Toronto.
"Usually more affluent people who come in … are not necessarily interested in the history of this space and the people who are already here, rather instead bringing a different, more affluent student business to Chinatown," she says.