PwC-YMCA Tower by SmartCentres
At the heart of our downtown, the community beats in the VMC with the exciting mixed-use facility by SmartCentres.
This year will continue to be a year of low supply and high demand, which will keep housing prices high, especially in prime locations. Overall, the 905 has experienced the largest growth, and will continue to grow, however the largest demand continues to be for housing along mass transit. Vaughan, in particular, will continue to be a very desirable location.
Real Estate News Exchange
SmartCentres is buying a 50 per cent interest in an almost 16-acre parcel of land owned by Penguin, abutting the VMC property, for $109.2 million. The land is currently the site of a WalMart store, but the store will be relocated on the site and redeveloped to create a new prototype Walmart including a large dedicated picking facility, enhanced customer pickup experience and parking area.
The remainder of the site will be redeveloped by the partners to create at least six new residential towers, as well as portions of the existing VMC development plan.
Vaughan’s downtown area attracted more than $9 billion in economic investment from 2015 to 2020, said Mayor Maurizio Bevilacqua.
In the final Vaughan Metropolitan Centre (VMC) sub-committee meeting of 2019, Bevilacqua said the investment is “rooted in momentous construction projects that contribute to a growing skyline with new business and residential developments.”
“In fact, Vaughan Council has approved more than 10,817 new residential units,” he added.
Globe & Mail
Steps from her office in Vaughan, Ont., just north of Toronto, Manisha Chen can travel any-where she needs to go, and by just about any mode of transit. With three public transit stations accessible through an underground passage, she could hop on the TTC subway to visit clients in downtown Toronto, catch the City of Vaughan’s VivaNext rapid way transit line or grab a York Regional Transit bus to visit clients further north.