Some condos in Toronto are built right next to the Gardiner. Here's an example of one by Bathurst: https://maps.app.goo.gl/NcHZX. Imagine having the balcony that lines up with the traffic or the concrete structure.
I think I would actually like that, but just for a few weeks or so, definitely not permanently.
The opposite for me. I'm sure I'd hate it at first, finding it hard to sleep at night and such. But, eventually I'd get used to it.
For a brief 1½ months, while I was in between apartments in the Chicago area, I slept in the living room of some friends from work. It was early summer, and the apartment had no a/c, so they left the front door open at night to let in whatever breeze there might be. Well, the front door opened out to face the Union Pacific West railroad, and the front room was my sleeping space. It was bad for a week or two but, by the time I moved out, the passing trains were already no bother to me.
I lived near an at-grade railroad crossing for three years during law school. (
Map link here; the railroad crossing is across the Durham Freeway adjacent to the intersection of Anderson and Main Streets.) I agree with you about how you get used to the trains at night—at my apartment, you'd hear train whistles blowing regardless of the time of day or night, but within the first week I was able to sleep through them and now, over 20 years later, I can still sleep through almost anything. It was harder to ignore them during the day if I were on the phone or watching TV, though. (For the forum members younger than about age 25, there were no DVRs in the mid-1990s, thus no way to pause live TV.)
If I lived somewhere overlooking a busy highway, such as in the Toronto example noted above, I'd be less bothered by noise than I would be by headlights and the thought of what sort of air pollution I'd be breathing. (These weren't issues in Durham because there was a hedge bordering the property, then Erwin Road, and then the Durham Freeway was/is sunken.)