Tag Archives: Oshawa

Neighbourhood Watch: Oshawa & Whitby

Is Oshawa & Whitby the next hot new destination?

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Is Oshawa & Whitby the next hot new destination?

As prospective homebuyers have looked outside the Toronto core in search of more affordable homes in recent years, many have headed to Hamilton, Burlington, Milton and other points west.

This migration may soon change.

“The west end of the GTA has a greater diversity of communities that are attracting a diverse range of buyers,” Christopher Alexander, executive vice-president, ReMax of Ontario-Atlantic Canada, told Condo Life earlier this year. “In the past 10 years, there has been significant focus on the growth and development of these regions, whereas historically, Durham has not traditionally been viewed in this same regard. With the boom in areas towards the east, like Prince Edward County, and the affordability leveling out, we will likely see the tide begin to turn.”

So, there you go, prospective condo buyers – keep an eye on Whitby, Oshawa and other parts of Durham Region.

Podium Developments' Ironwood in North Oshawa
Podium Developments’ Ironwood in North Oshawa

Economic diversity

And don’t let any potential uncertainly over General Motors Canada’s announcement late last year that it would close its Oshawa assembly plant bother you. Oshawa, and other points in Durham, are about a lot more than one company.

“(The) employment sector in Oshawa has been shifting for some time, and Oshawa has healthily diversified to add technology, educational institutions, healthcare, administration and many professionals to its offerings of great jobs and companies in the market,” says Christian Huggett, vice-president, development, at Podium Developments. The company has a number of developments in the city.

“(The GM news) has not altered our plans,” he says. “We continue to believe that the outlook is bright for home sales in North Oshawa, buoyed by its proximity and relationship to schools, the 407 network, the significant growth occurring and planned for North Oshawa, and that our site is unique in its physical and design characteristics to make it stand out.”

Strong natural location just east of Toronto along Hwy. 401 are among the reasons Whitby and Oshawa draw attention. With Whitby just 59 kms from Toronto and Oshawa 62, commuting is a real option – particularly with recent GO Transit improvements and the expansion of Hwy. 407.

Durham Region Transit connects with the other cities in the region, including Pickering, Ajax, Clarington, Brock and Uxbridge. The 401 runs through the south of region, Hwy. 7 runs across its northern edge and the Hwy. 407 extension to Hwys. 35 and 115 across the top of Durham Region.

Translation? Getting to, from and around Durham is getting increasingly easy, which makes living here and working elsewhere a real possibility.

Expanding attractions

As with any growing municipality, Whitby and Oshawa also offer expanding amenity and retail options. The Oshawa Centre, for example, is the largest shopping complex in Durham and is home to more than 230 outlets. And in downtown Oshawa, of course, there’s a variety of unique shops and restaurants.

In Whitby, Pearson Lane is a historical development that houses boutiques, cafes and services.

Nature is also front and centre, as Oshawa is home to wildlife preserves such as the Pumphouse Marsh, Second Marsh and McLaughlin Bay Wildlife Reserve. Oshawa Botanical Gardens boasts North America’s largest contemporary peony collection, and on Oshawa’s Lake Ontario shoreline, Lakeview Park offers many picnic areas, playgrounds, sports fields, a waterfront pier and sandy beaches.

In Whitby, more than 100 parks more than 60 kilometres of trails, including the Bio-Diversity Trail, the Cullen Central Park Trails, Otter Creek Trail and the Whitby Shores Waterfront Trail, await residents. The 670-acre Lynde Shores Conservation area is known for its wildlife and provides habitat for nesting birds.

Location, location, location

Located east of Toronto in York Region, Durham forms the east end of the GTA . Whitby is 59 km from Toronto, Oshawa 62 km. Durham population 645,862; Oshawa 159,458; Whitby 128,377.

Key landmarks

  • Key Landmarks
  • Lynde Shores Conservation Area
  • Oshawa Botanical Gardens
  • Oshawa Centre
  • Tribute Communities Centre

Select housing developments

OSHAWA

Axess Condos by The Daniels Corporation

Ironwood by Podium Developments

Treehouse Studios by Karmina Developments

UC Tower by Tribute Communities

WHITBY

Harbour Ten10 by Castle Group Developments

Prince George Landing by RoseWater Developments

Prince George Landing by Stockworth Developments

Station No. 3 by Brookfield Residential

The Landing at Whitby Harbour by Carttera Private Equities


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Podium Developments Ironwood

Groundbreaking marks Phase 2 launch and Phase 1 sell out at Ironwood in North Oshawa

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Groundbreaking marks Phase 2 launch and Phase 1 sell out at Ironwood in North Oshawa

 

Podium Developments Ironwood
Back row, right to left, Oshawa Mayor Dan Carter; Podium Developments’ vice-president, development, Christian Huggett. Front row, right to left, Podium Developments’ Project Manager Hani Agha; Managing Director Oskar Johansson; Managing Director Bernard Luttmer; Regional & Oshawa City Councillor Tito-Dante Marimpietri; Building Capital Principal Saqib Qureshi; Cranson Captial Securities’ President Devon Cranson; Vice-President Business Development David Roff.
Photo: Robert Lowdon

Having sold out the first release, Podium Developments and Building Capital recently broke ground at Ironwood in North Oshawa and released Phase 2.

The development team welcomed community partners and visitors to celebrate this milestone at the townhome collection located just north of Simcoe Street North and Taunton Road in North Oshawa. Priced from the upper $400’s, a new release of lots is now available, including a limited number of park lots.

Ironwood is situated on a private street on an 11-acre property between Camp Samac and Oshawa Creek in Cedar Valley. The Ironwood community backs onto hundreds of acres of valley land, forest and stream, and is minutes to Cedar Valley Conservation Area, Centennial Park and Somerset Park.

In addition to being close to shopping, dining and entertainment, Ironwood is a 10-minute walk to the University of Ontario Institute of Technology and Durham College. Public transportation access is nearby, and residents can be at Hwys. 407 and 401 in less than 15 minutes.

Modern architecture

Sporting modern architecture, the three- and four-bedroom townhouses at Ironwood feature a private garage and driveway with two-car parking, plus either a backyard or rooftop terrace. Community amenities include a private landscaped park, community gardens, an off-leash dog park, children’s playground, walking path, tobogganing hill and a sports field with a seasonal ice rink – all backing onto the protected acres of ravine lands.

Townhome sizes range from a generous 1,521 to 1,865 sq. ft. Well-appointed open-concept interiors receive generous natural light from large windows that grace more than three full floors of living space. Among the standard features is nine-ft. ceiling heights on the main level. Adding to the convenience for Ironwood residents, a minimal maintenance fee of approximately $150 per month covers daily upkeep of landscaping, snow removal, and site and amenity maintenance.

Podium Developments and Building Capital have more than 25 years of combined experience. Podium Developments was founded in 2004 by successful professionals who share a new vision of excellence. The company has a proven track record in rezoning and developing sensitive urban infill locations. Founded in 2008, Building Capital has focused largely in North Oshawa, having built and sold several student housing projects and earned a reputation as one of Ontario’s leading student housing developers. Building Capital’s extraordinary knowledge of the North Oshawa area makes the firm the perfect partner for Podium Developments.

The Ironwood Towns Presentation Centre is located at 1700 Simcoe St. North, Unit B. Parking is available at the rear of this building. Hours are Monday to Thursday noon to 6 p.m., Saturday and Sunday noon to 5 p.m., Fridays closed. To register for the new release, call 905.576.0139 or visit myironwood.ca

 

RELATED READING

Oshawa and Whitby the next hot new destination?

 

 

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Editor's Choice: Symphony Parkside Towns by Marlin Spring

Symphony Parkside Towns is a Marlin Spring masterpiece in Oshawa

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Symphony Parkside Towns is a Marlin Spring masterpiece in Oshawa

In the City of Oshawa, one of the Greater Toronto Area’s fastest growing cities and Durham’s largest municipality, Marlin Spring is preparing to launch a brand new community that is sure to hit all the high notes – Symphony Parkside Towns.

Orchestrated to provide top quality of life and convenience for residents, this collection of two- and three-level townhomes at 250 Harmony South (at Taylor Ave.) is situated in the midst of curated greenspace with parks and trails for exciting recreational possibilities. The community is close to schools, shops and GO Transit, is only eight minutes to Hwy. 401 and just 80 minutes to Kawartha Lakes.

Residents will also have a short drive to the numerous attractions of Oshawa, which is an evolving municipality that was recently ranked the 6th Best Place in Canada for employment. Transforming into a top technology, healthcare and research hub, Oshawa is not only bursting with opportunity but attracting incredible cultural venues, restaurants and shops to accommodate the needs of this evolving community.

Among the kaleidoscope of attractions in the city are the Robert McLaughlin Gallery, the Oshawa Museum, the Oshawa Regiment Museum, Lakeview Park with its sandy beach, the waterfront trail, and the beautiful National Historic Site Parkwood Estate (the setting for many feature films). Downtown is peppered with vibrant businesses, services, restaurants, pubs, cafes and shops.

Technologically speaking, the city boasts a Regional Innovation Centre geared to new tech start-ups, with plans to be relocated to the former 65,000-sq.-ft. Canada Post distribution centre. As for post-secondary education, Oshawa offers top-tier campuses such as the Ontario Tech University, Durham College, Trent University Durham Campus and the Lakeridge Health Education and Research Network.

The community of Symphony Towns is based on a prairie-modern style of architecture which, at its heart, is warm and inviting, but offers subtle contemporary elements such as larger windows, tone-on-tone colour palettes and glass railings to give a breezy, lighter feel to the community. Inside, the homes will feature incredible finishes, including freestanding tubs, quartz countertops, stainless steel appliances, air conditioning, glass showers, and tall uppers in kitchens. Plus, each home will feature a large backyard – a rarity in urban townhome communities. If the backyard isn’t big enough, there will be an incredible on-site community park that will be available to Symphony owners and the broader community alike.

Symphony Parkside Towns start in size at 1,552 sq. ft., and are priced from the low $500,000s. Considering its excellent location that combines the serenity of nature and the convenience of local amenities, as well as its attractive price point, the community is sure to sell quickly. Interest in Symphony Parkside Towns is already extremely strong.

Marlin Spring is a well-respected developer with a proven track record. The company’s experience and knowledge span over 60 years in the industry with a diversified portfolio of lowrise, midrise and mixed-use projects in prime locations throughout the GTA. Aside from Oshawa, Marlin Spring is currently at various stages of developing projects in Danforth Village/Upper Beaches, The Beach, Stockyards, the Queensway, Vaughan and Markham. All Marlin Spring projects are in prime residential locations that offer strong potential for long-term value and growth. The company’s vision is to create homes and condominiums of value for generations to come.

MARLIN SPRING
Symphony Parkside Towns

For the best opportunity to call this new address home, register now at the website before there’s standing room only.


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Local Focus: Oshawa & Whitby

Is Oshawa & Whitby the next hot new destination?

Latest News


Is Oshawa & Whitby the next hot new destination?

As prospective homebuyers have looked outside the Toronto core in search of more affordable lowrise homes in recent years, most of them have headed to Hamilton, Burlington, Milton and other points west.

This migration may soon change.

“The west end of the GTA has a greater diversity of communities that are attracting a diverse range of buyers,” Christopher Alexander, executive vice-president, ReMax of Ontario-Atlantic Canada, told HOMES Magazine earlier this year. “In the past 10 years, there has been significant focus on the growth and development of these regions, whereas historically, Durham has not traditionally been viewed in this same regard. With the boom in areas towards the east, like Prince Edward County, and the affordability leveling out, we will likely see the tide begin to turn.”

So, there you go, homebuyers – keep an eye on Whitby, Oshawa and other parts of Durham Region.

Economic diversity

And don’t let any potential uncertainly over General Motors Canada’s announcement late last year that it would close its Oshawa assembly plant. Oshawa, and other points in Durham, are about a lot more than one company.

“(The) employment sector in Oshawa has been shifting for some time, and Oshawa has healthily diversified to add technology, educational institutions, healthcare, administration and many professionals to its offerings of great jobs and companies in the market,” says Christian Huggett, vice-president, development, at Podium Developments. The company has a number of townhome developments in the city.

“(The GM news) not altered our plans,” he says. “We continue to believe that the outlook is bright for home sales in North Oshawa, buoyed by its proximity and relationship to schools, the 407 network, the significant growth occurring and planned for North Oshawa.”

Location just east of Toronto along Hwy. 401 is among the reasons Whitby and Oshawa draw attention. With Whitby just 59 kms from Toronto and Oshawa 62, commuting is a real option – particularly with recent GO Transit improvements and the expansion of Hwy. 407.

Durham Region Transit connects with the other cities in the region, including Pickering, Ajax, Clarington, Brock and Uxbridge. The 401 runs through the south of region, Hwy. 7 runs across its northern edge and the Hwy. 407 extension to Hwys. 35 and 115 across the top of Durham Region.

Translation? Getting to, from and around Durham is getting increasingly easy, which makes living here and working elsewhere a real possibility.

Expanding attractions

As with any growing municipality, Whitby and Oshawa also offer expanding amenity and retail options. The Oshawa Centre, for example, is the largest shopping complex in Durham and is home to more than 230 outlets. And in downtown Oshawa, of course, there’s a variety of unique shops and restaurants.

In Whitby, Pearson Lane is a historical development that houses boutiques, cafes and services.

Nature is also front and centre, as Oshawa is home to wildlife preserves such as the Pumphouse Marsh, Second Marsh and McLaughlin Bay Wildlife Reserve. Oshawa Botanical Gardens boasts North America’s largest contemporary peony collection.

In Whitby, more than 100 parks more than 60 kilometres of trails, including the Bio-Diversity Trail, the Cullen Central Park Trails, Otter Creek Trail and the Whitby Shores Waterfront Trail, await residents. The 670-acre Lynde Shores Conservation area is known for its wildlife and provides habitat for nesting birds.

Location, location, location

  • Located east of Toronto in York Region, Durham forms the east end of the GTA. Whitby 59 km from Toronto, Oshawa 62 km. Durham population 645,862; Oshawa 159,458; Whitby 128,377.

Key landmarks

  • Lynde Shores Conservation Area
  • Oshawa Botanical Gardens
  • Oshawa Centre
  • Tribute Communities Centre

Select housing developments

OSHAWA

Eastmore Village by Delpark Homes

Ironwood by Podium Developments

O North Urban Towns by Greycrest Homes

Symphony Towns by Marlin Spring

Winchester Estates by Menkes Developments

WHITBY

Park Vista by Paradise Developments

Park Vista by Fieldgate Homes

Station No. 3 by Brookfield Residential

The Hamptons at Country Lane by Heathwood Homes


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h_jun19_icw_fi

In Conversation With… Benjamin Bakst, CEO, Marlin Spring

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In Conversation With… Benjamin Bakst, CEO, Marlin Spring

Creative and innovative housing is the order of the day in the GTA these days, with land availability, housing supply and affordability all an increasing focus for industry and consumers. For developers, this means making the most of prized locations, and bringing forward-thinking and imaginative housing options to market. Marlin Spring, with a portfolio of low- and midrise and mixed-use projects in west end Toronto, Oshawa and other locales, is one such company. CEO and Co-Principal Benjamin Bakst explains.

HOMES Magazine: How are things progressing at your Symphony Towns in Oshawa these days?

Benjamin Bakst: Our team has developed a fantastic relationship with City staff and our neighbours. The plans were created with much of their feedback and we are thankful beneficiaries of that input. What started with the concept of a blank canvas populated with townhomes has now become a plan for a vibrant, unique parkside village. Our sales and marketing teams felt the name Symphony would express more than just a tie-in to Harmony Drive; it would also give the feel of a development that blends well into the neighbourhood while maintaining its individuality.

We’ll be revealing more about the project in the coming weeks with sales starting very soon.

HM: The city received some challenging news last year, with the planned closure of the GM assembly plant. What new opportunities does the city have to grow beyond this long-time focus?

BB: We aim to look forward and assess opportunity, and the City of Oshawa has long been focused on diversifying its economy and providing knowledge-based employment training and options. Manufacturing may have been the centre of all things Oshawa in the past and in the minds of those not living there, but what’s really happening is growth in many sectors, including health, educational services and other emerging areas which now represent more than a quarter of Oshawa’s total employment base – and growing. GM was great, Oshawa is greater.

HM: What are some of the things about Oshawa, and about Symphony specifically, that will contribute to the city’s continued reshaping?

BB: Symphony is taking a piece of Oshawa that is near and dear to a lot of residents’ hearts. It sits on the site of an old school, Dr. F.J. Donevan Collegiate Institute, that was there for many years. We’re building well thought-out prairie-modern style townhomes that complement the existing homes as well as speak to current trends in exterior materials and colours. We’re also creating a big open park which will be gifted to the city for everyone to enjoy. This unique feature will be visible from Taylor Rd. and sure to be enjoyed by our homeowners as well as the broader community.

HM: The Stockyards District Residences in Toronto’s west end is another exciting project you have on the go. How is it progressing?

BB: The Stockyards District Residences is one of my favourite projects at the moment, and our team is working diligently toward the start of construction this summer, as sales have proceeded extremely well. It’s an exciting project for us in a fantastic neighbourhood full of hidden gems. The more I learn about it and get feedback from our clients, the more excited I am to see the finished product. Not long ago, some didn’t understand the vision. No one questions it now.

HM: That area is really on the upswing, with lots of new commercial and residential development connecting with local history. How do you see the neighbourhood progressing or changing in the foreseeable future?

BB: There’s a lot on the horizon in this area. The upcoming closure of the space currently occupied by Maple Leaf Foods and a number of other developments (including another one yet to be announced by Marlin Spring, just east of the Stockyards District Residences) over the next while will mean significant population increase and a continued growth and vibrancy to the existing streetscape and retail along the St. Clair West corridor. Another fascinating phenomenon is the transformation of older buildings in the area. The Symes Event Space and Rainhard are great examples – that building was originally a Toronto waste incinerator – fast forward to today, and it perfectly demonstrates the potential in this city. Both our partners and clients entrust and rely on us to always be looking forward.

HM: How do the Stockyards District Residences reflect the history of the area? Are there any specific design elements, for example, that speak to the Stockyards heritage?

BB: Our joint development and marketing teams, along with the award-winning team at Graziani & Corazza Architects, did an amazing job utilizing the industrial aesthetic of the area as inspiration for the architectural elements of the building. It carries a lot of (expensive) brick and black metal on the exterior, and has very interesting step backs and shape that not only give the building character, but also allowed us to design a lot of unique suites. Many of our owners will have a one-of-a-kind suite, which we are thrilled to be able to offer.

HM: Affordability is a key challenge for housing in the GTA these days. What is Marlin Spring doing to address the issue – in either of these projects or elsewhere?

BB: Our multi-family residential property division is intently focused on this need, and to this end have purchased and currently asset-manage many thousands of apartments across Canada and the US. We see this as one of the greatest challenges facing our city, and have prioritized purchasing units in the GTA, investing time, effort and resources into these buildings to bring them up to 2019 standards and beyond. This generally allows us to maintain lower rental rates than purpose-built rentals. In addition, on our development side, we have multiple projects within which we are building affordable homes. These include our Canvas Condominium project, currently under construction, as well as our Lakeshore project, which is in the development stage.

HM: What’s next for Marlin Spring?

BB: What I am most excited about at the moment, is the upcoming formal launch of our Marlin Spring Foundation. I cannot share details at the moment, but our internal team is aware of our plans and is so supportive and excited!

marlinspring.com

Portfolio

  • Canvas Condominiums Danforth Ave. and Woodbine Ave. Under construction
  • Citron Towns in Richmond Hill Leslie St. and 19th Ave. Registrations only
  • Stockyard District Residences St. Clair Ave. W. and Jane St. Now selling
  • Symphony Parkside Towns in Oshawa Taylor Rd. and Harmony Rd. S. Registrations only
  • The Mack, Parkside Towns Major Mackenzie Dr. W. and Hwy. 400, Vaughan Final release
  • WestBeach Queen St. E. and Coxwell Ave. Under construction

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GTA buyers head west ReMax

GTA homebuyers continue to look west in search of affordability

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GTA homebuyers continue to look west in search of affordability

GTA buyers head west ReMax

Homebuying patterns in the GTA have increasingly shifted west over the last five years, particularly to Halton Region and west Toronto, according to a new report from ReMax of Ontario-Atlantic Canada.

“Growing demand for affordable housing buoyed new construction and contributed to rising market share in Halton Region (from 2013 to 2018),” says Christopher Alexander, executive vice-president, ReMax of Ontario-Atlantic Canada. “Product was coming on-stream at a time when the GTA reported its lowest inventory in years and skyrocketing housing values were raising red flags. Freehold properties in the suburbs farther afield spoke to affordability.”

In analyzing sales trends in nine Toronto Real Estate Board (TREB) districts over the past five years, ReMax notes that Halton Region – comprising Burlington, Oakville, Halton Hills and Milton – captured 10.1 per cent of total market share in 2018, leading with a 2.3-per-cent increase over 2013. Toronto West, meanwhile, climbed almost one per cent to 10.5 per cent. Toronto Central rose close to two per cent to 18.7 per cent of total market share, while Simcoe County jumped 0.6 per cent to 3.1 per cent. The gains came at the expense of perennial favourites such as York Region (down 3.2 per cent to 15.3 per cent); East Toronto (down 1.7 per cent to 9.3 per cent); Peel Region (down 0.5 per cent to 20.6 per cent); and Durham Region (down 0.3 per cent to 11.5 per cent). Dufferin County remained stable over the five-year period.

The quest for single-detached housing at an affordable price point has sent throngs of Toronto buyers into the Hamilton housing market over the past decade, ReMax says. The spillover effect has stimulated homebuying activity in most areas flanked by Toronto’s core and Hamilton. Burlington, in particular, soared between 2013 and 2018, with home sales almost doubling and average price climbing 50 per cent to $769,142.

Window of opportunity

But with such strong growth in Burlington, how long will this market remain an affordable option?

“The communities in the west will still be affordable compared to Toronto proper, but what we are going to see is a continued uptick in demand for more of the outlying communities like Brantford, Waterdown, Kitchener-Waterloo, Cambridge and even as far-reaching as London and Niagara,” Alexander told HOMES Publishing. “What will really impact the growth of these markets, outside of availability and affordability, will be the underlying transit systems and investments in local economies, as people still have a need to be connected to the GTA core.”

The upswing in new construction has contributed to the changing landscape. New housing starts in Halton Region averaged 3,100 annually between 2013 and 2016. In Simcoe County, just north of Toronto, new residential builds averaged close to 1,860 annually from 2013 to 2017.  During the same period, almost 39,000 residential units came on-stream in Toronto’s downtown-central waterfront area, while another 56,855 were active (approved with building permits applied for or issued and those under construction). Another 6,000 units came on the market in North York and Yonge-Eglinton.

 

GTA home sales ReMax

 

In Toronto’s west end, affordability has been a strong influence in helping Millennials redefine mature neighbourhoods such as The Junction, South Parkdale, Bloorcourt and Dovercourt Park through gentrification. Average price for the 8,000 plus homes sold in 2018 hovered at $755,658 – although the 10 districts within Toronto West range in price from $557,000 in Downsview-Roding, Black Creek and Humbermede to $1.2 million in Stonegate-Queensway.

“Freehold properties remain the choice of most purchasers in Halton Region and Toronto West,” says Alexander. “The same is true to a lesser extent in Toronto Central, but condominiums continue to gain ground. Just over one in three properties sold in the GTA was a condominium in 2018, and that figure is higher in the core. As prices climb in both the city and suburbs, the shift toward higher-density housing will continue, with fewer single-detached developments coming to pass.”

Toronto Central has seen rapid growth over the past five years, with Millennials fuelling demand for condos and townhomes in developments such as City Place, King West Village and Liberty Village. This cohort has also been instrumental in the gentrification of Toronto Central neighbourhoods such as Oakwood-Vaughan and Dufferin Grove as they snap up smaller freehold properties at more affordable price points, ReMax says.

ALSO READ: 2018 GTA new home sales drop to lowest mark in nearly 20 years

ALSO READ: GTA resale condo listings and sales dip to end 2018, but prices rise

ALSO READ: GTA among the most promising new home outlooks for 2019, Altus Group says

Baby Boomers have also been a major influence in Toronto Central, selling larger homes throughout the GTA and making lateral moves or downsizing to neighbourhoods close to shops, restaurants and amenities. Close to 15,000 properties were sold in 2018, with average price of $932,416, up almost 40 per cent since 2013. Properties within Toronto Central averaged 20 days on market and ranged in price from $709,660 in Bayview Village to $2.5 million in York Mills, Hogg’s Hollow, Bridle Path and Sunnybrook.

With an affordable average price point of $611,628 – and a range of $528,942 to $746,332 – younger buyers, empty nesters and retirees have flocked to Simcoe County in recent years. New construction in Adjala-Tosorontio, Bradford West, Essa, Innisfil and New Tecumseth has allowed the area to capture a greater percentage of the overall market between 2013 to 2018.

“As the Millennials move into their homebuying years, they will displace Baby Boomers as the dominant force in the GTA’s real estate market,” says Alexander. “Their impact on housing will have a serious ripple effect on infrastructure in the coming years, placing pressure on transit systems, roadways, local economies and their abilities to attract investors and new businesses, parks and greenspace development.”

The upswing in demand over the next decade is expected to re-ignite homebuying activity in Toronto East, York, Peel and Durham Regions. These areas still carry significant weight, despite the factors that have impacted softer performance in recent years, such as affordability, lack of available housing and fewer transit options.

GTA west vs east

As the west end of the GTA continues to see growth and price appreciation, a leveling effect will likely come into play (with the east region),” Alexander told HOMES. “Toronto’s GDP and the thriving economy will continue to attract people, so while affordability may continue to decrease, desire is unlikely to waver. That said, the current and next generation of homebuyers are taking this factor into account when they are making their decision to purchase – sacrificing space for lifestyle and convenience.  As they look to the greater GTA, if affordability becomes more leveled out between the west and the east, it’s likely that we will see more dispersion across the entire region as people’s desire to be connected to the GTA core remains strong.

GTA east areas such as Durham region currently don’t have the same appeal as the west. “The West end of the GTA has a greater diversity of communities that are attracting a diverse range of buyers.  In the past 10 years, there has been significant focus on the growth and development of these regions, whereas historically, Durham has not traditionally been viewed in this same regard. With the boom in areas towards the east, like Prince Edward County, and the affordability leveling out, we will likely see the tide begin to turn.”

RELATED READING

Delays in approval process contributing to housing affordability issue in GTA

GTA condo sales and prices hit record levels

7 factors that will affect GTA housing in 2019 – and 5 reasons to consider buying NOW

 

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Oshawa

What we can learn from the looming GM closure in Oshawa

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What we can learn from the looming GM closure in Oshawa

Oshawa

When Christian Huggett first heard the news that General Motors Canada was closing its Oshawa assembly plant, like many of us, he was disappointed.

After all, the loss of at least 2,500 jobs – not to mention untold positions in related suppliers – in a community of 170,000, is going to hurt. Hurt whom, and how badly, are the only questions.

“We thought it was a shame, given the long history of GM in Oshawa and the legacy it has created in shaping its past and providing jobs for many,” the vice-president, development, at Podium Developments, Toronto, told Condo Life.

Economic diversity

“We also understood that the employment sector in Oshawa has been shifting for some time, and Oshawa has healthily diversified to add technology, educational institutions, healthcare, administration and many professionals to its offerings of great jobs and companies in the market.”

ALSO READ: The February 2019 issue of Condo Life

While various governments and the plant’s union vow to try to find some way to save the operation, resurrection seems unlikely.

And it serves as a good reminder to us all – of how important it is for cities to develop diversified, modern economies. And how homebuyers should look beyond the headlines when researching their prospective new home location.

Opportunities remain

Podium, one of several developers building new homes in Oshawa, recently launched Ironwood Towns in the north end. The company remains confident in the city.

“We believe the North Oshawa residential market is not driven by the success or change in one industry,” says Huggett.

“This includes the significant GM news. It has not altered our plans. We continue to believe that the outlook is bright for home sales in North Oshawa, buoyed by its proximity and relationship to schools, the 407 network, the significant growth occurring and planned for North Oshawa, and that our site is unique in its physical and design characteristics to make it stand out.”

Buyers, too, then, can remain optimistic. There’s a lot more going on in Oshawa and other areas in Durham Region than just one industry and one company.

RELATED READING

New home buying opportunities abound in Oshawa and Durham Region

Oshawa housing to move into buyers’ market thanks to GM closure

What the GM plant closure means for the economy and housing market in Oshawa

 

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EDITOR'S CHOICE: Podium Developments

Unique spaces and places at Podium Developments’ Ironwood in North Oshawa

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Unique spaces and places at Podium Developments’ Ironwood in North Oshawa

With the opening of the Highway 407 extension, North Oshawa is fast developing into a vibrant urban centre of its own, while maintaining a deep commitment to protecting its lush natural setting. Named after the hardest trees in Canada, Ironwood is an inspired new community of modern townhomes that offers that sought-after balance of lasting nature and a strong neighbourhood.

Set where the Oshawa Creek crosses Simcoe Street North and surrounded by acres of protected conservation area, forest and parks, Ironwood is destined to be an oasis of green spaces for active families.

New homebuyers who love the outdoors will discover that Ironwood, by Podium Developments, is literally designed for them, with amenities carved from the community’s own timeless landscape. The community has designated a large portion of its unique natural setting to private amenity areas that will have families outdoors and active.

Residents will stroll and bike along winding trails that form casual boundaries between amenity areas. Young families will meet and chat as they watch over their little ones at the Adventure Playground. Neighbours will delight in the Community Garden, Yoga Clearing, the Hillview Square and the Cattail Clearing set off by professional landscaping. In summer, an open field will be a sports pitch and, come winter, an outdoor ice rink while a nearby slope will transform into Toboggan Hill for kids to laugh and enjoy together. Furry friends will have their own off-leash dog park too.

At Ironwood, where nature is enduring, kids will thrive and grow strong while playing outdoors in all seasons and weather, and forming friendships that will last a lifetime.

By design, the townhomes themselves nestle into their remarkable natural setting. The strikingly authentic modern architecture makes expert use of woods and metals in clean and simple lines that define today’s aesthetic. Expansive windows invite the outdoors into the spacious, light-filled interiors designed for contemporary open concept living.

A choice of designs is available, with gourmet kitchens, lavish ensuites, backyard decks, and plenty of room to grow and play. Feature-filled and offering designer accents for today’s tastes, the homes of Ironwood will stand the test of time, and appeal to all ages and stages.

Not only is nature close at hand — all the amenities are nearby too. Restaurants, plazas, schools and community centres, with the exciting new Windfields Farm Shopping Plaza coming soon. Excellent schools such as Durham College and the University of Ontario Institute of Technology are across the street. Camp Samac is next door and Cedar Valley Conservation Area is over the road. The nearby Legends Centre offers a range of programs and a gym. The Oshawa Centre, Tribute Centre and downtown Oshawa are minutes away, as well as the GO Transit train and VIA Rail station, and along the waterfront are Lake Ontario trails and beach.

If you’re looking for a community as lasting as the tree it’s named after, register for Ironwood today.

PODIUM DEVELOPMENTS
Ironwood

Register online to receive VIP pricing and floorplans.

MyIronwoodTowns.com


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EDITOR'S CHOICE: Podium Developments

New home buying opportunities abound in Oshawa and Durham Region

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New home buying opportunities abound in Oshawa and Durham Region

EDITOR'S CHOICE: Podium Developments
Ironwood Towns in North Oshawa by Podium Developments and Urban Capital

Despite the bad news this week that General Motors Canada plans to close assembly operations in Oshawa, there are some good new home buying opportunities in the city and elsewhere in Durham Region.

As various levels of government and the Unifor trade union vow to somehow keep the plant open or otherwise deal with the fallout of the decision, the housing sector in Oshawa is expected to shift into a buyers’ market.

That could mean deals for buyers in a market where home prices have already been under pressure.

 

Also read: What the GM plant closure means for Oshawa economy and housing

Also read: Oshawa housing to move into buyers’ market thanks to GM closure

 

For those looking to buy a new home, know that there are still plenty of good opportunities in Oshawa and surrounding area.

First, let’s look at recent new home buying activity in the area, courtesy of statistics from Altus Group, theofficial source for market intelligence for the Building Industry and Land Development Association (BILD).

 

Total new home sales, units

Oshawa Durham Region
Annual
2013          682       2,376
2014       1,108       3,130
2015          971       3,433
2016       1,149       5,344
2017          490       2,385
Jan-Oct
2017          483       2,262
2018            83       1,065
Source:  Altus Group

 

Naturally, the GM news is a sensitive topic to an industry such as home building, where companies dedicate years to planning and construction development projects. So don’t expect a comment any time soon from BILD, the voice of home builders in the GTA, or individual companies.

Might developers at some point offer deals – be they discounts or upgrades – in order to move an unsold inventory in a market not feeling the strongest at the moment?

It never hurts to ask.

 

A selection of new home and condo inventory

Ironwood in North Oshawa, Building Capital and Podium Developments, contemporary freehold townhomes

Harmony Creek, Conservatory Group, townhomes and detached homes

Daniels FirstHome Oshawa, townhomes

Brook Phase 2, Delpark Homes, detached homes

Fields of Harmony Phase IV, Greycrest Homes, detached homes

Harmony Gate, Sundance Homes, townhomes

Kingsview Ridge, Treasure Hill, 30-, 36- and 40-ft. singles

Park Ridge, Tribute Communities, detached homes from the low $900’s

U.C. Towns 2, Tribute Communities, townhomes form the low $600’s

Top of Townline, Woodland Homes, detached homes

For more new home buying opportunities, visit MyHomePage.ca

With files from Natalie Sicilia, New Home Research Manager & Map Editor

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House web

Oshawa housing to move into buyers’ market thanks to GM closure

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Oshawa housing to move into buyers’ market thanks to GM closure

House web

In one fell swoop, General Motors Canada’s announcement on Nov. 25 that it plans to close all assembly operations in Oshawa, Ont. effectively has pushed housing there into a buyers’ market.

“The announced General Motors plant closure will certainly impact Oshawa, and the trickle-down effect will be felt across the province,” Christopher Alexander, executive vice-president and regional director, ReMax Integra of Ontario-Atlantic Region, told Homes Publishing.

“However, it’s important to remember that GM isn’t the economic driver that it used to be in Durham Region. The area boasts a growing education sector and a new casino is slated to open in 2019, which will boost new condo development and housing demand. With the rise of remote work and no relief expected for Toronto house prices in 2019, Oshawa will continue to be a popular choice with first-time and move-up buyers who have been priced out of the 416.”

There you have it, prospective home buyers.

Opportunity knocks

While such a major employment hit is hardly an occasion to celebrate, these developments could mean opportunity for those looking to buy a home.

“The fact is that more than 2,500 GM workers will be left in the lurch come 2020, and the looming loss of income will likely prompt a softening of the market at a local level, as existing residents and prospective homebuyers digest the news and what it might mean for them,” says Alexander. “This coming closure, coupled with further interest rate increases in 2019, is likely to trigger a market shift from the current balanced territory, as homebuyers delay purchases, scale down lower-priced properties or move away in search of employment.”

Also read: What the GM plant closure means for Oshawa economy and housing

Also read: Focus on Whitby and Oshawa

Also read: 5 affordable neighbourhoods for detached homes in 416 and 905

Another real estate expert, Don R. Campbell, says the impact of the closure could take 18 to 24 months to play out fully in the region.

Diversified economy

Thankfully, there is more going for Oshawa and the Durham Region than just General Motors. Though it was once described as the “Automotive Capital of Canada,” in recent years the economy has diversified into education and health sciences. The University of Ontario Institute of Technology, Durham College and Trent University Durham and all have campuses in the city, among other economy-boosting facilities.

Indeed, in its latest Metropolitan Outlook, the Conference Board of Canada pegged Oshawa to be one of the strongest economies in the province for 2018. The Board forecast real GDP growth of 2.6 per cent this year, following 3.2 per cent in the last two years, citing strength in the non-residential construction, education, health care, finance and insurance sectors.

In addition, Statistics Canada figures show that Oshawa was one of the fastest growing cities in Ontario from 2011 to 2016, with 6.6 per cent population growth, second only to Guelph at 7.7 per cent. This, after growing 7.7 per cent from 2006 to 2011.

Importantly, for prospective home buyers, transportation improvements such as expanded GO Transit and the Hwy. 407 extension make it easier for people to live in Oshawa – at cheaper home prices – and commute to work in other areas such as Toronto. Another extension of the 407 eastward to neighbouring Clarington is due for 2020, further easing transportation options.

New home opportunities

Tomorrow, we’ll explore some of the opportunities to buy new homes in the Durham Region.

 

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