[GTA] Durham Region Developments Mega Thread
This thread has been converted into a discussion for anything related to the booming real estate market in the East end of the GTA.
UPDATE - 01/13/2016
User jamal_444 has done some research and identified majority of these early developments (including Mattamy, New Seaton, Lebovic, etc.) back right up onto a pipeline easement. Developers are not being very open about this at the moment. Mattamy updated their siteplan to include the pipeline easement, but it does not show up very clearly on their siteplan. Resale value for these homes will definitely be impacted in the future. You can try negotiating an appropriate price with the builders if they budge. Here is the information jamal_444 has provided:
Official Mattamy plan from the City of Pickering:
Phase 1 and 2 of the Mattamy developments (lots 1, 2, and 3) are backing onto the 61 year old TransNorthern pipeline which carries jet fuel from Montreal to YYZ. Here is the official site plan released from Mattamy, it's hard to tell what the text says because it's so small but it reads out to say "TNPEASEMENT". The future developments actually have it worse once those are built.
Here are the posts from Jamal:
Make sure you know what you're getting into and think about the resale value for some of these future developments.
[GTA] 30,000 projected new developments in Pickering-Seaton
Recently I was interested in a new Mattamy Home development, the sales centre opening was yesterday. Was sadly disappointed as over 500 people were in line to purchase 65 lots. I've heard of huge lines, but never saw anything like this before. Being discouraged, my SO did some research previously and remembered stumbling upon this article:
Pickering's huge Seaton development clears final hurdle - Infrastructure work will soon begin on Canada’s largest residential project, 10 years after developers agreed to a moraine land swap..
With the provincial government land swap, it has opened up the potential of over 30,000 new developments over the next 10 years. Gaining more interest, my SO also found this from the Pickering municipal website, the permits approved on how many developments are going to be built - http://www.pickering.ca/en/business/res ... ermits.pdf
Mattamy has approval for about 2500 new developments for the next 5 years, pretty massive. There are also many other developers involved as well, so it looks like a great time for many first time home-buyers (incl. myself). We wanted to buy a resale home next year but with the potential mortgage rate increase and inflated housing market, we think it will be best to rent and purchase a pre-development so we can save more.
What do you guys think about this? Hopefully this brings good news for those who were interested in purchasing a new home within the next 5 years at least. With housing developments, will come more commercial plazas, employment opportunities, parks, schools, etc. Hopefully this is a good thing!