A significant housing development proposal in one Ontario town has the potential to boost its property values and revitalize the downtown core.
According to the Municipality of , which is located on the southern shore of Georgian Bay, the proposed development would bring much-needed traffic and business to the town.
“It will certainly be a major development for the town,” said Dave Loucks, a sales representative with Royal LePage Locations North, who has lived in Meaford for 24 years. “It’s a large project. hasn’t seen anything like that.”
The mixed development building, which has been proposed to be built on the town’s former Canadian Tire property, would be a five-storey commercial/residential building with a number of one, two and three-bedroom units.
The said that real estate prices in the town have been solid for the past few years and that this proposed development could hopefully help the local economy and bring more than 200 people to the downtown to live and work.
The town also has a consultation open for the development of its waterfront. “If that was done in conjunction with this development, that would really be a draw,” said Loucks.
“The whole development of that area would be nothing but a positive project.”
Find out more about median house prices, capital growth and demographics in Meaford, Ont. and other Canadian cities with CREW’s free online Investment Hotspot tool.