New Newmarket Housing Good For Town Growth

Newmarket, Ontario, Canada has recently been getting caught up with its quota of "needed' added new housing stock with some new apartments now being readied for 2017 rental. That's good news for some of the next generation of younger residents to have an option to stay living in town. With construction well underway, the multi storied units should be ready early in the new year for viewing is my guess.

Meantime, on Main St., the clock tower development, continues to be a proposal in progress, although some way is yet to go before any shovels hit any ground, but when and if they do, it will be a decision the town has long awaited.

The Forrest Group (from Markham) proposal, supported by the town's mayor, as I understand, is for 7 stories, while the local establishment B.I.A. and a number of vocal residents support the original zoning allowance of 3 stories being added.

Recently there was a bit of action on the face of the building sparking some speculation that something was afoot but for now it seems they just want to bare some of the original bricking which had been covered with some unsightly looking aluminum and such. Hmmm..Never judge a book!

It's not clear yet is what type - condo or rentals - will go in at the clock tower location on Main St, (all plans keep the tower intact) however should they wait too long, with new legislation coming down the pipes requiring all new housing built to include 10% "affordable" units, they best move fast.

Watch for this Davis Dr. property down the pipes

I'll support whatever type or size an Adjudicator eventually decides this issue on and look forward to help filling it up and linking your clients to it when it arrives... whatever it be!

Tom's Top 10 Real Estate guess? 5 stories w a 10% mixed income model....And further down the pipes - the Yonge & Davis corridor.

Tom Pearson