While the condo market is booming across the GTA, townhomes are still some of the most sought-after property in the entire region. Not everyone wants to live in a property where they are neck-to-neck with their neighbours; some people prefer to live in more spacious spaces. Others are trying to raise a family and need the extra space; other Canadians simply want added privacy. There are countless reasons why Canadians desperately want new townhomes in the region and it’s unfortunate these needs are not being met. Why is this happening, though?
Large demand but low supply
The lack of land coupled with a lengthy approval process for building GTA townhomes has created a crisis in which there are not enough townhomes to satisfy the number of Torontonians looking to move into one of these properties. The answer seems to lie in rezoning land between single-family communities and developments that are mid-density yet not as highly dense as a condominium. If you’ve been following the GTA’s ‘housing gap,’ you recognize that we’re describing the, ‘missing middle:’ a lack of middle-of-the-road housing that’s affordable yet doesn’t require residents to live in a giant tower in the sky.
Not everyone wants to live in a big house in the sky
It’s true. The condo market in GTA may be booming, but the demand for GTA townhomes only keeps growing over time. Condominium apartments are not a, ‘one size fits all,’ type of property: people want a townhome for all types of reasons – including their privacy and feeling more ‘grounded’ to their property. Moreover, a condo isn’t always the best choice for some people when raising a family – especially in terms of privacy. More variety of properties is desperately needed, especially since…
Many prefer the feel of traditional housing
No one should feel that they need to purchase a traditional single family home in the GTA just to feel like they’re living in housing that feels more normal to them! It’s a shame, and if a variety of mid-density properties could be integrated into the GTA as mentioned earlier, this would satisfy not only the demand for more varieties of housing but would also ensure that much of the GTA’s unused residential land is put to good use. Most importantly, it would ensure that the needs of so many Torontonians desperate to live in more traditional housing are able to do so. Luckily, close to 1500 new townhome units were applied for in 2018 so hopefully it’s a sign that more mid-density housing is on its way.
Prefer a traditional townhome? Go to them, don’t wait
More specifically, go to Dunpar Homes. Our team realizes that there is a huge demand for GTA townhomes – and we want to give our neighbours exactly what they need. Thus, we are pleased to announce that we recently broke ground at our Lake Shore Village in Etobicoke. Complete with 73 townhome units with three bedrooms and a spacious floorplan, it’s the classic ‘at home’ feeling that so many Torontonians have been looking for – and it’s here!
But that’s not all. We’re also working on Streetsville Centre in Mississauga. At, ‘the village in the city,’ residents will live among 201 townhomes that are just as thoughtfully designed and spacious like our Etobicoke properties. If you want to say, ‘bye-bye,’ to your condo and, ‘hello,’ to mid-density housing that you’ve been clamoring for, reach out to our team today. Let’s have a chat and discuss what it’s going to take to ensure you’re move-in ready to your very own townhome in the new year!