Why living in a master planned community has a lot of up side
There are a number of communities undergoing master planned redevelopment in Downtown Toronto, from pre-existing neighbourhoods such as Regent Park and Alexander Park, to newly created neighbourhoods like West Don Lands, Canary District and Bayside. There are many benefits in buying, living and investing in a master planned community. My top 5 reasons are:
1. Beyond the concrete jungle with less homogeneity
The design and planning begins with a vision from micro to macro level, from treed walkways, parks and open space, schools and amenities, zoning density and building heights, roadways, to overall transit and city infrastructure planning. These are usually areas that fall in the downtown urban infrastructure map. Every step of the development is followed closely by media and the public with a critical eye.
2. Better quality of living
An integrated sustainable community undergoing detailed planning means that purchasers are not just buying into a condo, you are buying into a community lifestyle with mix use development, recreational, schools, banks, grocers and services that will be built into the neighbourhood. Developers make more efforts to screen first time commercial tenants when leasing their new spaces to bring in attractive businesses to build a vibrant neighbourhood offering more atypical and diverse shopping experience for local residents. 3. Variety of housing types and people focused
The builder in a master plan community tends to make more effort into sourcing the architect with more thoughtful design of the condo, living spaces and amenities. Each completed building sets a blueprint and precedent for future builds. More efforts are put into the architecture of each building to offer distinct characteristics as landmarks or features in the neighbourhood. The housing type and building amenities for each building are geared towards a researched demographic as the community grows in harmony, from first time buyers, investors, young professionals, downsizing empty-nesters to growing families with children and pets.
The variety of housing types and selections from mid-rise/high-rise apartments, one to three bedroom condos to 3 bedroom or larger townhomes, offer the home buyer a range of choice and price range geared towards their particular lifestyle and budget. These communities allow homeowners to grow in the same area as they move up, often with parents buying into the same master plan development as a multi-generation mix. 4. New utility and smart energy system
Part of the master plan require immediate updating and improvement of existing utility system, and establish more efficient and sustainable strategy for water and waste water management as the area grows, as well as building on smart energy. 5. Market appreciation
Buyers can get the best value when buying into the first phase of the development as the builders generally roll out prices at a much more competitive rate per square foot cost compared to established neighbourhoods. Home owners and potential purchasers can keep track of how developer prices increase over time within the master planned community over future sales launch. Start your Toronto condo search right by getting in touch with an expert who is well versed in the purchase and sale of pre-construction condos. If you are looking for a condo in a master planned community, I can help you put everything into perspective and select the best neighbourhood based on your needs. Email me for more information, I would love to connect!
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