Many streets in Cabbagetown could see a reduction in speed limits soon. On April 14, Toronto and East York Community Council voted, pending public approval, to reduce speed limits on most residential streets within its boundaries from 40 km/h to 30 km/h. Cabbagetown lies within these boundaries and would therefore be affected by this decision.
Unless there is significant public opposition over the next couple of months, the decision is expected to be finalized in June. Toronto City Council could potentially overrule a Community Council decision but usually, this kind of issue is left to the community council. Once a final decision is made, thousands of signs would then need to be replaced so it will take some time to be fully implemented.
For more information on the decision and next steps, this article seems to cover it well: