Centre Island is part of the Toronto Islands community, which is home to one of the most unique and sought-after residential neighborhoods in North America. There are approximately 600-700 year-round residents living in about 262 houses on Algonquin and Ward's Islands (which are connected to Centre Island). These residents do not "own" their land in the traditional sense; instead, they own their houses and lease the land from the Toronto Islands Residential Community Trust. Living here is a high-value privilege with a massive waitlist—the "Purchasers' List" is capped at 500 people and can take 30 to 50 years to reach the top. Residents must use the home as their "principal residence" and are not allowed to rent them out as "summer cottages" or Airbnbs. It is a peer-to-peer essential to know that while the islands are a popular park for millions of tourists, the residential areas are private, car-free zones where the community relies on the ferry for everything from groceries to emergency services, creating a "frozen-in-time" village atmosphere just minutes away from the Toronto skyline.