Contrary to popular belief, there are no residential houses on Centre Island itself; all the residential homes of the Toronto Island community are located on the eastern end, specifically on Ward's Island and Algonquin Island. There are approximately 262 households in total across these two islands, with about 150 homes on Ward's and the remainder on Algonquin. Centre Island is dedicated entirely to parkland, including the Centreville Amusement Park, beaches, and public gardens. The residential community is a unique, car-free neighborhood governed by a strict land trust; homes are built on leased land and can only be sold at regulated prices to people on a long, decades-old waiting list, making it one of the most exclusive and preserved communities in Canada.