As for my current neighbourhood of Sunnyside:
Pros:
-Close proximity to downtown
-Great sense of community, you know your neighbours
-Kensington entertainment/shopping district
-Proximity to Eau Claire/Chinatown areas
-Sunnyside LRT station right in the community
-Prince's Island Park
-Riley Park
-Bow river pathway system at your doorstep pretty much
-Great mix of renters, owners, singles, couples, families, seniors
-Great mix of housing (single family, townhouse, small apartment, new mid-rise buildings)
-At least 3 or 4 of us CP'ers live there
Cons:
-Generally more expensive (but there are some deals out there)
-Property taxes are high
-If you are looking for larger homes there are fewer to choose from
-Hipsters (although some may put this in the "pro" column)
-Sometimes it floods
Overall my wife and I are incredibly happy to be here, and have no plans to ever leave the community if we can work it that way.