I've mentioned this before, but I know two different families who were forced to move to the suburbs after having their second child because there aren't any affordable 3BR housing options in the inner-city. It seems like there's an assumption amongst housing developers that everyone with children wants to live in a SFH in the burbs, so all the inner-city condo units are built with only one or two bedrooms. Consequently, the relatively few family-friendly units with three bedrooms are in very high demand and thus can command ~$1M dollar prices. If there was a greater supply of 3BR units near the core, downtown living would be more affordable for families who don't want to live in the suburbs but currently have no other economical choice.
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