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Are too many new condo projects in the area good or bad for future resale Values

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Rocky

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Hi all, It seems like there is humongous activity happening on the strip of Sheppard from Donmills to Victoria park as there are 3-4 projects already moving forward. I am wondering if throwing in so many condos, would negatively effect the (possible appreciation) of the area. Every new project however is significantly higher priced than the older (other) projects at this point - however i was wondering how would this effect the future resale once all the projects are built - any input about your opinion is much appreciated - Cheers
 
supply and demand ...
in a seller's market, almost anything sells.
in a buyer's market, what makes your unit more desirable than the next one for sale?

IMO r/e is currently overvalued by 25-30% because of mostly lowest interest rates in history.

however, the strip of sheppard from don mills to VP has the potential of ttc subway line, but i'm not sure if the pricing of the r/e in that area has been given a premium for it yet.
 
I know tridel's project 'Alto' is def over priced for 2011, but they have priced in future values of 2013/14 in anticipation of subway extension. I believe the demand is high for this area, so prices should remain stable.
 
Is there any word on the sheppard subway expansion? Last I heard it was to be complete by 2019, but the news keeps saying Ford continues to look for provincial/private funding.

I'm somewhat invested in the Don Mills/Sheppard area, and the subway would be a definite bonus if ever completed.
 
OolloO said:
I'm somewhat invested in the Don Mills/Sheppard area, and the subway would be a definite bonus if ever completed.
Click to expand...


since the subway is already at don mills, wouldn't the pricing premium already be reflected ?!?
 
cdr108 said:
since the subway is already at don mills, wouldn't the pricing premium already be reflected ?!?
Click to expand...

I agree, the current subway has increased the value in the area, but I'm sure an extension would definitely increase population density (demand) in the area, which in turn would increase amenities (Grocery Stores, Restaurants, etc...).

I'm actually looking forward to new condos going up, which usually come with retail stores at their street level units. Hopefully some new infills (tear down old home and replace with semis or town homes) are to come.

Either way, I'm happy with the the way its currently being developed, I'm just hoping for more.

Am I being/sounding greedy...?
 
OolloO said:
I agree, the current subway has increased the value in the area, but I'm sure an extension would definitely increase population density (demand) in the area, which in turn would increase amenities (Grocery Stores, Restaurants, etc...).

I'm actually looking forward to new condos going up, which usually come with retail stores at their street level units. Hopefully some new infills (tear down old home and replace with semis or town homes) are to come.

Either way, I'm happy with the the way its currently being developed, I'm just hoping for more.

Am I being/sounding greedy...?
Click to expand...

I don't see how extending it to STC area would improve the value? Scarborough values are hard to increase. Extending it there won't have much affect. Having it connect to Yonge helps with values which it already has.
 
I agree these sheppard lands between don mills and Victoria park are great to build on. But the units continue to get smaller and that's concerning for those who want to raise families and be conveniently close to services.
 
Would there be in equation anywhere the number of cars that would now be make Sheppard HELL during busy hours when all these units get populated ? How about the schools in the area, I don't think they would have sufficient in the area once all these projects are built and populated. Just increasing the density can be a recipe for disaster if the area doesn't show relevant improvements in terms amenities.
 
who's the councillor in the area? .... Any word on where or the type of project section 37 money is going?
 
AKS said:
I don't see how extending it to STC area would improve the value? Scarborough values are hard to increase. Extending it there won't have much affect. Having it connect to Yonge helps with values which it already has.
Click to expand...

Well, I think you missed part of my comment as to what comes with the extension. For some reason I was just thinking about this today...

Extended subway -> more condos (Tridel has two going up Alto and alegro)

more condos -> greater pop. density and condo retail stores at ground level

greater pop. density -> increase amenities (Grocery Stores, Restaurants, etc...).

increase amenities (Grocery Stores, Restaurants, etc...). -> increase demand

increase demand -> infills (already happening)


Maybe I'm just trying to make myself feel better. lol.
 
that really depends on "how many" is "too many".
In some places, it can be a good thing as the area gets more developed and become more attractive. In others, it may lead to overcrowding and deterioration of neighbourhood ambiance and life quality (think condoville CityPlace).
 
kkgg7 said:
that really depends on "how many" is "too many".
In some places, it can be a good thing as the area gets more developed and become more attractive. In others, it may lead to overcrowding and deterioration of neighbourhood ambiance and life quality (think condoville CityPlace).
Click to expand...

CityPlace has a far better neighbourhood ambiance today than 10 years ago when it was a driving range.
 
OolloO said:
Well, I think you missed part of my comment as to what comes with the extension. For some reason I was just thinking about this today...

Extended subway -> more condos (Tridel has two going up Alto and alegro)

more condos -> greater pop. density and condo retail stores at ground level

greater pop. density -> increase amenities (Grocery Stores, Restaurants, etc...).

increase amenities (Grocery Stores, Restaurants, etc...). -> increase demand

increase demand -> infills (already happening)


Maybe I'm just trying to make myself feel better. lol.
Click to expand...

The increase supply might make prices hard to increase. Maybe if you owned a detached house or something. If builders built condos, they will be tall. There's going to be a huge supply considering how long the length of the subway line. It's not like downtown there things are compact. A subway line doesn't always make prices increase I think. eg) Lawrence West. It seems to work well a long Yonge St strip. It will also depend which type of people buy into the area. If it turns out like Scarborough, prices will have a hard time increasing. I thought being walking distance to STC would have good value. Prices hardly budged. I moved out of Scarborough, but my friend moved in because it was affordable.
 
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