Solmar Breaks Ground For Edge Towers In Mississauga

The project’s infusion of density along a future transit corridor is an important part in the intensification of Mississauga’s Downtown. Mayor Crombie spoke at the event, stating “A future driver of Mississauga business’ success is the new Hurontario Light Rail Transit (LRT) that will be located right here next to Edge Towers. Over 3,800 businesses and 78,000 jobs currently rely on this [bus] line today, and those numbers are expected to grow to one quarter of all employment in Mississauga — or nearly 130,000 jobs in the future.” In addition to its position on the future Hurontario LRT, the project is also being built a short walk from Cooksville GO Station, connecting residents with Metrolinx’s regional transportation network.

According to Scott Davie, President of Davie Real Estate, “Edge Residents won’t need transportation to enjoy most local amenities. Edge Towers is walking distance to world-class shopping at Square One, trendy restaurants like Earl’s and Bier Market, cool markets like Whole foods, and meeting places like Starbucks and Tim Hortons. Other local amenities within walking distance include Sheridan College, the Living Arts Centre, and the Art Gallery of Mississauga.”

The ground breaking ceremony follows the actual start of construction work months prior. Crews from Michael Bros Excavation are conducting site preparation in advance of excavation for the project’s underground levels.

Sales are well underway for the community’s second tower, known as Edge T2. The project offers 418 suites in one-bedroom, one-bedroom+den, two-bedroom, two-bedroom+den, and three-bedroom layouts, ranging in area from 492 ft² to over 1,400 ft². You can learn more about Edge T2’s offerings by visiting the project’s presentation centre at 24 Elm Drive West, open Saturdays and Sundays from 11:00 AM to 5:00 PM, and noon until 6:00 PM Mondays through Thursdays.

For original article, visit: http://urbantoronto.ca/news/2019/02/solmar-breaks-ground-edge-towers-mississauga

 

Toronto Real Estate : Consumer Interest Shifts to New Neighbourhoods

What was Toronto’s Neighbourhood with the Largest Growth?
A neighbourhood in the pocket between Finch and Steeles Ave named Newtonbrook.
Its definitely north of the core but with the Yonge Subway line running straight through the heart of the neighbourhood, downtown communting is not a problem.
Median List price for a condo in 2018 was $545,000 up abou 9% year over year.
A detached home could be found in the median list price of 1.1 million.
To view some affording homes in the area visit us at http://www.searchtorontohomes.com/mapsearch

Severe Housing Downturn in Canada is Unlikely

 

Royal Bank has stated that a widespread real estate downturn is unlikely and that the probability is “still low but has increased somewhat in recent months”. Mortgage stress tests and rising rates are making it harder for buyers to get a foot in the door.

Toronto, Vancouver & Alberta are currently at risk due to the high interest rates put on the high-priced areas, and affordability is a major at a crisis level. “Regulatory changes made the market healthier – it is now balanced, well supported by economic and demographic fundamentals, and while condo building activity is elevated we see few signs of overbuilding,” says RBC.

Montreal remains one of Canada’s stronger markets at the present time, says RBC. Elevated levels of apartment construction in Montreal, Vancouver, and Toronto is a potential long-term concern, however unsold inventories are low.

 

For more on this article, visit: https://ca.sports.yahoo.com/news/severe-housing-downturn-canada-unlikely-rbc-190257940.html

 

Toronto real estate slated for another boom

Toronto real estate is slated for another boom.

Thanks to the city’s thriving technology sector, Ron Sally believes real estate—and condos in particular—are going to be the hottest commodity in town.

“Our tech industry in Toronto is about to explode,” said broker of record and owner of REMAX Millennium Real Estate. “It’s been slowly climbing up the ranks; it hasn’t reached its peak yet but it’s about to come out into the open. It’s currently ranked number two in North America and number four in the world.”

Sally added that Toronto’s financial sector is ranked third in North America.

“As of 2017, the ranking is number 11 globally for the financial sector,” he continued. “What this means is that in the world, Toronto is the eighth-most liveable city and our job sector is going to grow, as well, in the next few years. Toronto’s condo market is undervalued, so whoever can get a piece of Toronto real estate should do it while it’s still available.”

Toronto is presently rated an Alpha city, and joining Singapore and Tokyo as Alpha+ cities isn’t unfathomable.

“Our transportation system is being improved—the city is changing implementation,” said Sally. “A lot of changes are going to turn this into a global city. Right now everyone knows where Toronto is. We had 28,900 new tech jobs created in Toronto, and that’s more than the San Francisco Bay Area, Seattle and Washington D.C. combined.”

Indeed, Microsoft, Uber, Shopify, Airbnb and Google Sidewalk Labs are all setting up shop in Canada’s largest city and economic heartbeat. Coupled with the fact that new tech sector jobs will be created in the years ahead, and the fact that supply already lags well behind demand, Toronto condo valuations are on pace to surge.

“Downtown on King St., condos are selling for $1,500 to $1,600 per square foot; Pemberton is also selling one at $1,200 per square foot,” said Sally. “Things are slowly changing and those who see the big jump coming in the next two or three years understand it’s the same jump we had in 2014 and 2016. We have one million immigrants entering Canada in the next three years.”

According to Matt Smith, a broker with Engel & Völkers in Yorkville who specializes in the luxury market, the city’s thriving tech sector has been fuelling demand for high-end homes.

“A new trend is on the horizon that will continue to push Toronto’s housing market and its luxury segment, and it’s the impending tech boom,” said Smith. “In the last five years, Toronto has created 82,000 tech jobs, more than Silicon Valley and more than any other city in North America.”

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Well Maintained 1 Bedroom Condo! Highly Desirable Location

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Fabulous Open Concept Condo In West Toronto For Sale

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