The view from the CN Tower observation deck has changed drastically in the last few decades. One would look out past the borders of the city at the vast suburban landscape if they were in the early 2000’s. Today, and in the coming years, that same view is, and will continue to be, filled with other cities staking their claim to the Southern Ontario sky.
While condos in and around the downtown core of Toronto continue to make record climbs, cities like Mississauga, Hamilton and Vaughan are also seeing growth in new condo activity. In this article, we will focus in on the reason for this growth in demand in addition to the current state of growth for each.
Mississauga and Its Growing Skyline
Ever since the introduction of the Downtown 21 Master Plan in 2010, condo activity in Mississauga has been steadily climbing. Why? Because the plan transformed downtown Mississauga into a prime living destination. With a fresh downtown design, vast improvements in public transit, the introduction of an LRT, ongoing improvements to the Go and MiWay Transit, revitalized retail commercial presence, and more Mississauga City Centre is being reinvigorated, and is continually attracting a wide number of condo developers.
To join the Absolute World towers (or Marilyn Monroe towers) in the ever growing Mississauga city skyline are exciting projects like M City Condos, the Wesley Tower, and Avia Condos.
Hamilton: From Steeltown to Condotown?
There are many Hamilton city officials and real estate experts who would tell you that Hamilton is becoming Canada’s new Brooklyn. The city is currently undergoing a great transformation. And while its moniker of Steeltown will always be a part of its citizens’ DNA, the city is also beloved for its several other qualities besides the tough persona derived from the many making their living in the steel trade. Did you know that many Hamiltonians have proclaimed their city the waterfall capital of the world? In areas around Locke Street and Cannon Street, one will come across are many art galleries, live music, and small restaurants beloved by the Hamilton public.
Why is there such a demand for Hamilton condos? The price is right for most and the city is witnessing a new generation breathing life into pockets that weren’t alive in the former Steeltown. GO Transit is offering more frequent service for Toronto commuters and the new B-Line LRT is on its way. The future of Hamilton appears to be on the right track.
For more insight into some of the amazing and affordable condo opportunities available in Hamilton, refer to Zoocasa’s list of “8 Luxurious Hamilton Condos You Can Afford”.
The Newly Connected Vaughan Metropolitan Centre
In 2017, we will finally see the expansion of the TTC Subway reach the Vaughan Metropolitan Centre (VMC). Now, commuters from Vaughan will be able to access Toronto’s downtown core in record time. Transit Scores and the value of new developments around the subway are bound to increase exponentially.
As the excitement of Vaughan commuters rose during construction, so too did great new condo developments to meet future demand. The giant Icona Condos which aim to be completed by 2020, will be at the centre of it all. The Met and Cosmo Condos will also be one of the first new waves to usher in the new condo age of the “VMC”.
The Public Transit Factor
One common trait among these cities is their willingness to revitalize their public transit infrastructure. Coming improvements by Metrolinx, the TTC, and the HSR specifically are helping commuters in cities like Hamilton, Mississauga and Vaughan get to work far more efficiently. With commute times and high transit scores being a major priority for condo shoppers, these areas are sure to be increasing in value. It’s just a matter of getting in at the right time.
With condo prices in Toronto are constantly on the rise, and conditions improving in areas of the city, we can predict that there will be a significantly higher demand for great new condos outside of Toronto – and distant city skylines seen from the CN Tower observations deck will be far more prominent.
For more information on new pre-construction condo developments in and around the Greater Toronto Area, stay tuned to the TalkCondo news section.
