According to a developer, there are huge plans and a hopeful future for cities like Ontario, St. Catharines, as the market there continues to expand. It might just be that the out-dated student rental market is all set for luxurious homes.
Union Waterfront has an advanced intended latest projects planned for the Port Dalhousie region. The project includes a 19 storey condo and hotel that is concentrating to “change the face of Niagara realty.” ‘A loft goal’ as it is termed.
Single-family homes, luxury condos and townhomes will be included by Arbour Vale, which new by Pinewood Niagara Builders. A representative for Arbour Vale, Cindi Loforti-Lepp said; “We’re bringing a new kind of look and feel to the cityscape. This development is an elegant lifestyle community more akin to what you would see near the waterfront in Oakville or Burlington.”
During last year, the sales went up by 15.3%, while the average price of home jumped by 16.4% year- over-year. More interest are being piled up in the insignificant market. Loforti-Lepp said; “We’ve had a lot of interest so far, which is a good sign that St. Catharines is ready for and excited about this kind of lifestyle.”
The construction of the community is set to be done later this year. The prices of homes in Arbour Vale will be about $565,888 to $778,888. It’s still not yet obvious what plans the investors have for costly homes, for what seems to be a market aimed at providing reasonable older homes and student rentals.