The announcement was made in late 2017, but I noticed that a lot of people aren't aware of this.
York is launching a campus near Hwy7 & Warden area.
Expected to start classes by Sep 2021.
This changes the game in the Markham region.
Because the condo market near universities is one of the best locations to invest.
Ryerson: Grid condos, INDE condos, PACE condos, anything near Dundas station.
UofT: U condos, Exhibit, Museum condos, Bedford, The College condos, too many to list
UWaterloo, Wilfred Laurier: Kitchener Waterloo, Sage, DTK, too many to list
Pretty much, wherever there is school, it's a good investment because there will be a constant influx of renters. With growth and inflation, rental market are more likely to be strong around these areas.
So this York University Markham campus is important for investors.
HWY 7 & Warden area has gone through some impressive change, but it seems like more changes are coming in the next few years.
Let's look at a couple of recent projects to see how things are priced on HWY 7.
Right now, DTK is selling in Kitchener and Waterloo.
1B+D (588sqft) = starting $319,900 ($544psf)
1B+D (555sqft) = starting $299,900 ($540psf)
2B (690sqft) = starting $379,990 ($550psf)
1B (402sqft) = starting $269,990 ($671psf)
On average $600psf. (no parking, no locker)
Let's try comparing that with Pavilia.
Pavilia is a project on HWY 7 & Bayview/Leslie. 2 towers and townhouses. Tower A is 95% sold and they just launched Tower B which is called Valleymede Towers.
Unit sizes start from 692sqft (larger than your average condo near Universities).
Average psf = $660psf. (parking and locker included)
If we remove parking and locker value,
Pavilia is similar price to DTK.
HWY 7 & Bayview is similarly priced to Kitchener/Waterloo
Considering new York campus and the amount of development coming to Markham, I think Markham has better investment potential at this price than Kitchener Waterloo.
For more info on York Markham campus:
http://markham.yorku.ca/quick-facts/
http://news.yorku.ca/2017/11/29/york-university-markham-centre-campus-will-feature-light-filled-flexible-space-students/
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I'll do the analysis,
You make the decision.
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