LAND AND DEVELOPMENT CONFERENCE What Has Happened to the Low Rise Market? Opportunities/Challenges? Matthew Cory, Malone Given Parsons Ltd., May 13 th , 2014
Timing for New Community Areas MGP’s Outlook in 2008 MALONE GIVEN PARSONS LTD www.mgp.ca
Timing for New Community Areas OMB Hearings and Completion of Studies and Original Conformity Settlement Area Boundary Approval of Secondary Plans in Deadline JUNE 2009 Expansions Resolved GGH Expansion Areas MALONE GIVEN PARSONS LTD www.mgp.ca Building Permit/ Construction Present – OMB Hearings Starts in New Expansion Areas on Upper-tier municipal of the GGH plans commencing
Greenfield Land Remaining 40,000 34,810 Designated Greenfield (ha) 4,330 27,610 MALONE GIVEN PARSONS LTD www.mgp.ca 30,000 9,000 4,160 20,000 7,620 21,480 10,000 15,830 2011 0 2006 2011
MALONE GIVEN PARSONS LTD www.mgp.ca
Greenfield – Low Density Residential Greenfield Low Density Residential MALONE GIVEN PARSONS LTD www.mgp.ca 2011
GTAH Housing Need vs Density Targets Residential Growth Historical Trend vs. Regional Implementation Unit Mix, 2006-2031 Apartments MALONE GIVEN PARSONS LTD www.mgp.ca Rows RESIDENTIAL UNITS (000) 2,000 Singles/Semis 18% 1,750 27% Shift 14% 1,500 220,000 17% Singles/Semis 1,250 to Rows and 1,000 Apartments 9 % 750 68% 56% 31% 16% 500 23% 76% 250 46% 0 2031 2006-2031 2031 2006-2031 "CURRENT TRENDS" GROWTH PLAN IMPLEMENTATION PRE-GROWTH PLAN
Affordability Markham- 3 Bedroom, 3 Bath MALONE GIVEN PARSONS LTD www.mgp.ca Apartment Townhouse Single Detached 1,250 Sq Ft 2,200 Sq Ft 1,855 Sq Ft Asking $610,000 Asking $569,000 Asking $549,888 = = $488 / Sq Ft $259 / Sq Ft = $296 / Sq Ft From Kijiji and MLS – May 8, 2014
Whitebelt – Estimated Consumption MALONE GIVEN PARSONS LTD www.mgp.ca
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