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Local Focus - Toronto

Toronto – in demand and on the rise

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Toronto – in demand and on the rise

Largely considered the pinnacle of the condo boom we’re seeing these days, Toronto still does boast some good lowrise home options. Supply and pricing of those homes, however, is another matter.

That’s what happens when you combine a strong economy and rising population with limited new and resale home supply.

Indeed, the Toronto Regional Real Estate Board (TRREB) is forecasting at least 10-per-cent price growth in the GTA this year to $900,000, up from $819,319 in 2019. And on the new home side, 2020 began on a strong note, with 2,106 total new home sales in January, up 65 per cent from January 2019 and 14 per cent above the 10-year average, according to the Building Industry and Land Development Association (BILD). The benchmark price for new single-family homes was $1.09 million.

Booming economy

“Toronto’s booming economy has brought with it housing affordability challenges that will continue throughout the next decade,” says Frank Clayton, senior research fellow, Ryerson University’s Centre for Urban Research & Land Development.

“Both the provincial and municipal governments must support a massive increase in the supply of all types of housing and tenures as priority number one and quickly transform the land use planning system to make this happen.”

Long considered one of the most multicultural cities in the world, Toronto boasts a collection of distinct communities, including East York, North York, Scarborough and Etobicoke.

Some of these areas, in fact, now represent areas of growth for new lowrise housing, given that larger master-planned communities of single-detached homes are fewer and farther between. Much of the focus now is on the socalled missing middle, those smaller developments such as townhomes that represent a real opportunity for new ground-oriented homes in the city.

Culture and entertainment

Find a way to buy and live in Toronto, however, and you likely will love it.

Toronto offers a vast array of culture and entertainment options, from the National Ballet of Canada, Toronto Symphony Orchestra, to the Art Gallery of Ontario, Royal Ontario Museum and more.

For the sporting sort, Toronto has a handful of pro sports teams – the Toronto Maple Leafs, Toronto Raptors, Toronto Blue Jays, Toronto FC and Toronto Argonauts – and is home to the Hockey Hall of Fame.

The Toronto International Film Festival (TIFF) is an annual event celebrating the film industry and attracts many movie stars and a-list players. And the Toronto Caribbean Carnival, formerly known as Caribana, attracts more than one million people every summer.

Other points of interest include the Toronto Zoo, the Ontario Science Centre, Harbourfront, Fort York, the Distillery District, Ripley’s Aquarium, the CN Tower and the Canadian National Exhibition.

And of course, as a large metropolitan city, great shopping areas include the St. Lawrence Market, Kensington Market, the Toronto Eaton Centre, Sherway Gardens and Yorkdale Mall.

Though a subject of some debate due to the challenges with keeping up with all the growth, transit and highway infrastructure is undergoing major expansion all over the city. The TTC moves almost two million people throughout the city every day on subway, buses, streetcars and LRT lines, while GO Transit links Toronto with the surrounding regions of the GTA. Highways include the 400 series (401, 403, 404, 407 and 427), the Don Valley Parkway and the Queen Elizabeth Highway.

Location, location, location

This provincial capital of Ontario and the most populated city in Canada is located on the shores of Lake Ontario; Population 2,954,024

Key landmarks

  • CN Tower
  • High Park
  • Ontario Science Centre
  • Ripley’s Aquarium
  • Toronto Eaton Centre

Select housing developments

East Station by Mattamy Homes

Fairfield Towns by Plaza

Lake & Town by Menkes

Origins of Don Mills by Mattamy Homes

Terraces at Eglinton by Nascent Developments

The Belmont Residences by Caliber Homes

The New Lawrence Heights by Context Dev. Inc.

The New Lawrence Heights by Metropia

Twelve on the Ravine by Geranium


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Community Builder – Geranium

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Community Builder – Geranium

In 2017, Geranium is celebrating 40 years of community and homebuilding. The award winning company has an impressive portfolio of land holdings and completed master-planned communities, including over 8,000 homes built, across Southern Ontario.

Geranium embraces the values of responsible development with the vision to create places that are meticulously planned, expertly executed and designed with sensitivity and respect for the environment, the local neighbourhood and the future residents.

Led by a knowledgeable professional executive team, Geranium is ensuring that its legacy will continue. A commitment to delivering homes and communities deserving of the trust placed in this industry leader by both homebuyers and industry partners will continue to drive the company forward.

“Our industry, clients and business are constantly evolving and we have been strategic in ensuring Geranium’s continued growth and success,” said Geranium president Boaz Feiner. “Our 40th anniversary was the perfect opportunity to amalgamate the two divisions – Geranium Corporation specializing in land development and Geranium Homes focused on homebuilding.

“With a refreshed identity that more accurately reflects our many areas of expertise and years of experience, we are united under one name – Geranium.”

The 40th year follows one of the company’s highest annual sales volume and Feiner projects 2017 will be another record-breaking year not just for home sales but also in all aspects of its business.

WHITCHURCH-STOUFFVILLE

Since 2008, Geranium has contributed to Stouffville’s growth. Developing The Neighbourhoods of Cardinal Point master-planned community and building a variety of new homes for more than 800 families who have made it their home. Cardinal Point won the home building industry’s 2014 Best Places to Grow Community of the Year Award, and remains a highly soughtafter neighbourhood.

VISTA Flats & Towns is Cardinal Point’s final phase and offers innovative condominium one-storey flats and two-storey towns. Ground breaking is scheduled to begin by summer and only a few homes remain available.

ARTIST’S CONCEPT: PACE on Main in Stouffville

Geranium’s midrise condominium PACE on Main is located in the heart of the town, on Stouffville’s picturesque Main Street, where it is under construction. A handful of beautiful suites remain with prices starting from $379,900, including parking.

SCARBOROUGH LUXURY

Twelve on the Ravine is a limited collection of 12 executive residences on deep lots — up to 300 feet — which back onto the natural Highland Creek ravine in Scarborough. The location is convenient to schools, parks, shops and only minutes to the Toronto Pan Am Sports Centre and the University of Toronto Scarborough Campus. TTC is at the door and commuting is easy with quick access to Highway 401.

Breathtaking new two-storey homes offer light-filled contemporary interiors in four- or five-bedroom floorplans, with deluxe interior finishes. Timeless architecture is highlighted by front porches and spacious covered rear outdoor loggias. Homes range from 3,047 to 3,882 square feet, priced from over $1.7 million.

COMING SOON TO PICKERING

Edgewood borders acres of woodland within a peaceful setting of existing residences and will offer 21 detached homes. The location is minutes from Rouge Park and Altona Forest and close to Highway 401 and Pickering Town Centre. Prices will start from over $1 million. Register today to be among the first to learn more. Launching for sale in spring.

The Neighbourhoods of Cardinal Point award-winning master-planned community.

MASTER-PLANNED IN AURORA

Steps from Yonge Street in an established Aurora neighbourhood, Geranium will be releasing the first phase of its newest master-planned community later this year. Comprising 159 family-sized homes on 50- and 60-foot-wide lots, Geranium is designing a highly desirable collection of residences. The neighbourhood is situated close to all that Aurora is renowned for, as recognized by Money Sense magazine’s top 25 places to live. Register to learn more.

For 40 years Geranium has adhered to a belief that the concept of community goes way beyond the bricks and mortar of building homes. That it is about building a future for the families who will live there and providing a connection to the surrounding neighbourhood. It is this core value that will lead Geranium into the future.

GERANIUM

Go online to find out more about Geranium and register for coming projects.

Geranium.com

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