Whitby and Waterloo Among Top Affordable Cities in Ontario

admin Portfolio Updates, Residential Development

A recent report complied by Zoocasa looked at 28 major housing markets in Ontario and awarded the fourth and fifth most economical markets to purchase a home to Whitby and Waterloo, respectively. The income required compared to the actual median household income reflected a positive(surplus) gap in these two Southern Ontario cities. Strong investment potential and a high demand for housing are some of the reasons Greybrook has invested in and around these sought-after areas. Learn more about some of Greybrook’s projects in the region below:

  • The 3.5-acre infill Whitby Harbour development site is situated at the corner of Scadding Avenue and Gordon Street, adjacent to the Port Whitby Marina, amid expansive green space and well-served by nearby retail and community amenities. Whitby has experienced a population increase significantly higher than the national average over the last fifteen years, encouraged by growth of their diverse economy and investments in educational, recreational, and cultural facilities.
  • Our Bowmanville III site consists of 16-acres, located east of Lambs Road on Concession StreetEast. The development affords convenient access to major highways, including the recently completed Highway 407 extension. In addition, the property is located within a 10-minute drive from the site of the future Bowmanville GOStation, which is scheduled to be complete by 2024. Bowmanville has recently experienced an influx of new residents and businesses; the municipality is expected to continue its growth trend with approximately $14 billion worth of infrastructure investments underway, according to the Clarington Board of Trade and Office of Economic Development.
  • Our Cambridge development site is located in Canada’s technology triangle (Kitchener-Cambridge-Waterloo); a region that has one of the fastest growing economies in the province. Steady population growth and major transportation investments, including the WaterlooRegion’s light rail transit system (LRT) and two-way GO express rail, are expected to increase residential development and promote urban intensification in the region.

Greybrook will continue to invest in markets like these which exhibiting strong fundamentals and will provide updates on the progress of our developments within the region on our blog.