The neighbourhood's name originated in the early 19th-century, when the area was an enclave of Irish immigrants, both Protestant and Catholic, said to be primarily from County Cork.

The Schoolhouse is now operated as a museum by the Ontario Heritage Trust, offering tours for adults and children and hosting private events.

[7] In the early 1960s, a significant amount of Corktown was demolished to make way for several elevated roadways, including the Richmond Street off-ramp from the Don Valley Parkway and the re-routed Eastern Avenue overpass.

[8] Among the most significant buildings destroyed was the House of Providence (1857–1962), an institution run by the Sisters of St. Joseph to care for orphans and the elderly poor.

In 2031, the under-construction Ontario Line will open and provide an underground light metro station named Corktown to serve the neighborhood.