Downtown Vaughan is an area that should be on everyone’s radar due to the vast infrastructure improvements made in these past few years. The city has plans to mold it into the financial and cultural center of the city. One of the biggest additions to this neighbourhood has been the addition of the Vaughan Metropolitan Center and the extension of line 1 on the TTC subway, seamlessly connecting Vaughan to Toronto. This area has been massively developed with office spaces, retail centers and lifestyle amenities. Some large companies have already established their presence there with their commercial spaces including KPMG, BMO, Scotiabank, and YMCA. It’s expected that over 63,000 people will move into this new downtown core by the year 2031. This neighbourhood is definitely something both investors and end user’s want to keep an eye out on.
There are many properties in the preconstruction phase in the neighbourhood for residential use. Some of these include:
Residents have access to transit galore; on one side the TTC subway can take commuters to Union Station in around 45 minutes. For motorists, highways 400 and 407 are both close-by allowing easy access around the city. Many amenities can be found nearby with retail stores, grocers and plenty of entertainment surround the area. As an investor, the property value of these buildings is only expected to increase with more and more funding being provided. Downtown Vaughan is continually growing with more commercial spaces and the like, it is expected to become a hotspot in the coming years. From 2015-2020, the Vaughan Metropolitan Center has attracted over $9 billion in economic activity. This area will be continually funded with the coming years to promote economic growth in the city. As people slowly move away from the core of Toronto due to increased costs of living, the areas nearby will be swarmed with more and more people.
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