Public Transit Contributes To Toronto Price Gains

Speculations have been made concerning the recent building thriving alongside Toronto’s latest travel passage which is contributing majorly to the price gains in these essential regions. A developer named Peter Freed said to the Toronto Star that “[Transit proximity] is the single most important characteristic of development today.”

The firm Peter works for is forming a team with Capital Developments to build condos that will be able to give access to the intersection that is in-between the subway and the Crosstown LRT. Both the companies are doing their best to work together on more upcoming projects in places that are likely to undergo a two-fold development in transit-bound areas.

The vice president of Lindvest, Michael Kluhmann said that those purchasing the condos will have to be ready for resulting price increases because of the main places these developments are taking place in. He said that “people talk about transit. They talk, talk, talk, but you can feel it. The stations are coming, people are watching the progress and they see it moving east on Eglinton.”

Karan Kundra who is a business student said that “a lot of people my age think they should be living within their means. Having a huge house is not something that most people are interested in, just because there’s no time to maintain it, cutting the lawn and those kinds of things add on to a number of tasks you have to be able to do within a day. Being able to live in a condo where everything is accessible is something a lot of people are attracted to.”

An employee of Haven Developments, Jordan Teperman said that people prefer to be in a place where transit is available, to make it easier for them to travel and get to their destination quicker. The sites that are being developed will enable people to have access to a train at the Union station to reach their journey’s end. This movement will be of great help to millennials, to provide transportation as they cautiously invest in prospective “money traps”, in the form of spacious properties and cars.