Why Invest In Quayside Real Estate?

The goal of Quayside is to provide a “dynamic, welcoming, and hardy neighbourhood that will aid in reorienting the city toward Lake Ontario. Without a question, this waterfront area offers a unique chance to build one of Canada’s most sustainable low-carbon communities that will cater to residents of all ages, backgrounds, abilities, and incomes. When this famous project is finished, there will be market-rate housing, such as condos and condo townhouses in Quayside, in addition to affordable units owned by the City of Toronto and run by a non-profit partner occupying at least 30% of the residential space on this property. Family-sized units and facilities will also be prioritised in this five-tower complex. The multi-use arts arena houses a performance arts area, Indigenous-centred traditional festivities, and adaptable education rooms, among other family-friendly facilities. Due to the several exciting initiatives that are planned for the area, Quayside has a lot of potential as an investment location.

List of New Condos in Quayside Neighbourhood

Why Buy New Condo Developments In Quayside?

South of the Gardiner Expressway, at the intersection of Queens Quay Boulevard East and Parliament Street, lies a 12-acre enclave known as Quayside. A prime development site, Quayside is primarily controlled by Waterfront Toronto. Additionally, there are properties controlled by Ports Toronto, the City of Toronto (1.5 acres), and private landowners in the region. Quayside (259-291 Lake Shore Blvd. E., 200 Queens Quay W., 2 Small St.), Parliament Development Lands (307 Lake Shore Blvd. E., 3-15 Parliament St.), and 333 Lake Shore Blvd. E. are the three development blocks that make up the property.

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Education & Employment In Quayside

It boasts a sizable development that is centred on the arts and culture, housing classrooms for OCAD University and George Brown College as well as office space for artistic groups. This waterfront mixed-use complex will have space for nearly 2,000 employees. Additionally, there will be 3 million square feet of commercial space, creating about 8,000 new jobs in the neighbourhood. To entice new employers and corporate investors, the neighbourhood is anticipated to add three million square feet of commercial space. Young professionals and executives who enjoy the concept of returning home to a bustling waterfront lifestyle and work in the downtown core will find Quayside to be the perfect place to live. It’s a vibrant neighbourhood built for life, work, and play that is also positioned for residential and community growth.

Average Price Of Condos In Quayside

Pre-construction condos in Quayside are sold for an average of $485,650 in 2019. A price per square foot of roughly $883 has been maintained for new listings for this year. Prices are still increasing annually at a rate of 10.2%. The average monthly rent in this area is approximately $2700. This also takes into account a rental appreciation rate of 3.5%, which has remained largely constant over the past ten years. The current vacancy rate of 0.7% demonstrates the high demand for new condos in Quayside. However, the average resale price of a condo in Toronto is $883,782, and over the past ten years, that price has increased on average at a rate of 5.4%.

Transit In Quayside

The Waterfront Transit “Reset” study, which included a thorough evaluation of the needs for transit improvements for the waterfront area, has been completed by the City of Toronto in collaboration with the Toronto Transit Commission (TTC) and Waterfront Toronto in anticipation of the upcoming Quayside development plan. The decision-making process for the site’s future LRT lines will be aided by this study. While the freshly extended Queen Quay streetcar takes you directly into Union Station, bus service operates along Sherbourne and Parliament, linking you with line 2 of the subway. Owning property in Quayside entitles you to all future benefits for the Bayfront neighbourhood, which is only a 6-minute walk away.

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