The 1900s brought new challenges to the Lakeview area. At the beginning of the century the area was largely rural with small communities at various crossroads. With the advent of World War One, Lakeview began its shift from a rural economy to a military, industrial and finally a suburban one.
The first airport in Canada was located on the present day grounds of the old Lakeview Generating Station. It was here that pilots were trained for overseas aerial warfare. The Federal government had obtained a large tract of lakefront land in the eastern end of Lakeview that it used during the years for various military purposes including armaments manufacturing, weapons training and military barracks.
During World War Two, the Federal government operated a small arms factory. It produced huge quantities of weapons for use overseas. Given the fact that many of the men were off fighting the war, women were given opportunities to become highly skilled trade people.
The Lakeview area today consists of a largely suburban economy with light industrial along much of the prime lakefront land south of Lakeshore Road.