The rise of East Harbour

The rise of East Harbour
November 15, 2017 CAPSTER
In Report
¬†As of today, the Lakeside City Suites are all gone. I checked back on my calendar and noticed from the time the broker presentation took place on Nov. 1st till now was exactly 2 weeks. We’re now in mid November and people would have thought the condo craze would have leveled off by now. Well apparently not cause even the straggler units left from yesterday are also gone. Who took them? The ones that finally got the memo. Cool off period is still in effect so maybe a gem might still pop up but most likely, the ink will settle on the existing agreements. Let’s see what happens with the Sky Suites.

From my last write up of Lakeside, I mentioned the puzzle pieces were there with the upcoming Google / Alphabet / Sidewalk Labs development at the waterfront, increased immigration in each upcoming year and the demand for condo projects. Anyone who put them together would realize the potential return and if they had a chance would act accordingly.

Here are more puzzle pieces: the East Harbour transit hub which would include at least 2 GO Train lines, a streetcar line, and the future Relief Line Subway all intersecting at this hub. The projected growth population of the GTA is going to grow from 6.4M to 9.6M by 2041. That’s a growth of 67% so where are all these people going to live? Wherever there’s a unit available. Where are they going to live, work and commute? Where there’s a hub.

Eventually, the East Harbour area will be more than just a hub, it will be an ecosystem. Just watch out for the self driving cars chauffeuring people around and delivering packages in conjunction with these new transit lines.

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