N Holland Landing Prairie Provincial Nature Reserve Holland Landing Conservation Area Doane Rd Leslie St Farmer Jack's Woodbine Ave Hwy 404 Yonge St Christ Church Holland Landing 2nd Concession Rd The Stardust Drive-In Theatre Good Shepherd Catholic Elementary School Town of East Gwillimbury Holland Landing Public School Rogers Reservoir Conservation Area Located in the Town of East Gwillimbury, the development site is a land assembly of three properties. Green Ln E East Gwillimbury Go Station MEADOWS OF EAST GWILLIMBURY COMMUNITIES 91 SINGLE-DETACHED HOUSES 2,100 SF ON AVERAGE LOTS WITH 38 OF FRONTAGE PROJECTED AVERAGE SELLING PRICE OF $800,000 With Newmarket running out of new low-rise housing supply, developers and home buyers are looking to East Gwillimbury for single-family development lands that can leverage the convenience that the newly completed $99-million Highway 404 extension has provided. Fortress Real Developments has partnered with Tercot Communities and Cityzen Developments to capitalize on the under-supplied area of East Gwillimbury/ Newmarket and the price appreciation experienced in this highly sought-after area.
Ajax WHY EAST GWILLIMBURY? LOW SUPPLY New home supply in the GTA has been declining by about 10% per year for the last 10 years. HIGH DEMAND Virtually any municipality that adds land supply sees a surge in development activity. MORE SALES IN OUTER SUBURBS While there were double-digit declines in the number of new home sales in the City of Toronto and many inner-suburban GTA municipalities in 2015, East Gwillimbury sales increased by 379% annually. DOUBLE-DIGIT PRICE GROWTH Average single-detached new home prices are already up 26% in 2016. (Source: Altus Data Solutions & CMHC) NUMBER OF NEW HOME SALES 2015 versus 2014 +35% Bradford West Gwillimbury East Gwillimbury Georgina +379% Brock N +103% Caledon King -16% Vaughan Newmarket Aurora Richmond Hill Whitchurch- Stouffville Markham -53% Uxbridge Pickering Scugog Halton Hills Milton Brampton Mississauga -60% CITY OF TORONTO -32% +54% LAKE ONTARIO Oshawa Whitby Clarington
OVERVIEW Located in the Town of East Gwillimbury, the development site is a land assembly of three properties. Based on the current rate of absorption, it is forecasted that the Meadows of East Gwillimbury could sell out in 12 to 18 months. Before marketing the homes in this proposed subdivision, the development team will need to acquire site plan approval. The lands are currently designated for future residential development within the provincial, regional and local official plans. PROVINCIAL GROWTH PLAN YORK REGION OFFICIAL PLAN EAST GWILLIMBURY OFFICIAL PLAN ZONING DRAFT PLAN APPROVAL BUILDING PERMIT RESIDENTIAL USES PERMITTED RESIDENTIAL USES PERMITTED RESIDENTIAL USES PERMITTED AGRICULTURAL TO BE ACQUIRED TO BE ACQUIRED FUTURE EAST GWILLIMBURY/ NEWMARKET DETACHED MARKET According to RealNet Canada Inc., there are 13 single-detached product lines in four communities scheduled for release in 2016 in East Gwillimbury. There are just two product lines in two communities set to release units in Newmarket in 2016. The Meadows of East Gwillimbury is expected to come to market in two years (2018). The province is currently working on plans to extend the HOV lanes north from Highway 7 to Aurora and considering long-term proposals to extend Highway 404 to Highway 12. If implemented, these changes will enhance commuting to and from the GTA.
Queensville Side Rd Graham Sideroad N MEADOWS OF EAST GWILLIMBURY Yonge St 2nd Concession Rd Doane Rd PROJECT: QUEEN S LANDING DEVELOPER: MINTO HOMES PROJECT: QUEENSVILLE DEVELOPERS: ASPEN RIDGE, COUNTRY WIDE AND LAKEVIEW HOMES Leslie St Hwy 404 Woodbine Ave Green Ln E Warden Ave IN THE CENTRE OF GROWTH The site is located in close proximity to two new home developments currently on the market. To the east is Queensville by Aspen Ridge, Country Wide and Lakeview Homes, and to the south is Queen s Landing by Minto. As an example of the current demand for this area, over 7,000 people showed interest in the Queens Landing development by registering on the marketing website, 1,300 people showed up to the grand opening, and the first release of 90 homes sold out in three hours. Overall Minto released 214 homes in Queen s Landing last year, selling all of them in just six months. CURRENT MARKET There are no available or unsold new single-detached lots with 38 of frontage in the East Gwillimbury housing market. The average single-detached house on a lot with 40 of frontage is being offered at an average of $745,000, or $294 psf for 2,540 sf. Source: Altus Data Solutions The average price of an absorbed single-detached and semi-detached home in the Toronto CMA in 2015 was just over $896,000, an increase of 15.8% annually, the largest year-over-year growth in 25 years (according to data collected by CMHC). Ben Myers, SVP Market Research & Analytics, Fortress Real Developments
THE DEVELOPMENT TEAM Cityzen Development Group is a leader in the real estate development industry in the GTA. With deep knowledge and experience in construction and development management, Cityzen has managed to develop some very prestigious projects. These landmarks include L Tower, Pier 27 and London on the Esplanade in downtown Toronto, Aria Condominiums in North York, Absolute Condominiums in Mississauga, The Essence on Kingsway, The Hemingway at Edwards Gardens, The Shores in Oakville and many more. Cityzen.typepad.com Tercot Group is a multi-disciplined real estate development company with over 30 years of experience in Toronto and GTA residential, commercial and industrial markets. Dedicated to building progressive neighbourhoods and connecting communities, Tercot puts quality first with a goal to design modern, innovative and superior structures that add lasting value to the community. COMMUNITIES Tercot.com Fortress is a diversified real estate development company that has been involved in over 70 projects, including rental apartments, high-rise condominiums, hotels, office space, big box retail, residential conversions, estate-lot, single-detached communities, infill developments, stacked townhouses, ground-floor retail and more. Fortress focuses on researching and tracking market trends to find valuable development opportunities in prime locations with strong metrics and absorption. We follow through with ongoing expertise and stewardship from inception to completion. FortressRealDevelopments.com
Twitter: @FortressRDI FortressRealDevelopments.com Facebook: FortressRDI Issued: May 10, 2016