September 14, 2007
Posted September 20, 2007 12:00 pm.
This article is more than 5 years old.
Scott McLellan from Tridel talked about the recent surge in development in and around the Woodbine area of Rexdale. “We have a rather large community that’s right across the street from the racetrack. We’re fully aware of what’s happening there and it’s extremely exciting, and we have seen a real potential of purchasers for our product because of it. It’s becoming a real community now. So we’re certainly seeing a demand that maybe wasn’t there three years ago and we’re actually looking at potentially bringing out another phase.”
Dan Ellenberg from sellwithdan.com discussed a particular area in the GTA that’s experienced growth in the last little while. “[The area of] Jane and Steeles close to York University. There’s a proposal for a new subway line there, or rapid transit that will eventually connect to the [campus]. There’s definitely a lot of interest in that area and the prices are affordable. It’s a great place to live. You get a lot more for your money than you would closer to the heart of the city. The area is definitely in demand.”
When asked if the whole sub-prime mortgage crisis in the U.S. had an impact in Canada, Dave Currie from MonsterMortgage.ca replied, “It has had a small impact on the sub-prime lenders here. The marketplace for that product is not traditionally Canadian and it’s something that was invented in the U.S. At the same time, we feel rates are going to continue dropping.”
