Yeah I remember 14 years ago when Peter and Richmond was the epicenter of Toronto's nightlife. Then the condo developers took over and all the nightclubs got demolished.
I believe the same fate awaits King West. With the Ontario line opening up, that entire area will get re-developed into Condos and yet another vibrant area of Toronto will become utterly desolate like Peter street.
Just a quick thought on condo developers "taking over." They struck deals with willing partners whose calculus showed it was more profitable to sell their holdings. A significant driver of that are the perverse incentives enabled by our economy in recent years. And yes, this has caused some formerly vibrant areas to become bland. But "take over" is a throwaway term that doesn't help understand, nevermind address the root causes.