CentreCourt, a leading developer in Ontario known for its innovative high-rise projects, is making headlines with its ambitious expansion into Pickering. The shift marks a significant change in the real estate landscape of the community, transitioning it from traditional low-rise living to a more urban, high-rise lifestyle.
Naturally, when CentreCourt announced their plans, our ears perked up. As a leading Toronto real estate agency, we here at Harvey Kalles Real Estate are very interested in how this densification—and all that goes with it—can better suit our clients.
In this article, we’ll explore CentreCourt’s vision for Pickering, the implications of this development on the local market, and what it means for the future of the community.
Understanding CentreCourt’s Vision
CentreCourt’s commitment to modern living revolves around sustainability, luxury design, and community integration. In general, their developments are designed to foster a sense of community while providing residents with the conveniences of urban life.
For instance, one standout project is The Forest Hill, located here in Toronto, which emphasizes energy efficient and community-oriented amenities. This building’s energy-efficient systems, green roofs, and integrated community spaces exemplify CentreCourt’s focus on creating a sustainable living environment.
In Pickering, we think you can expect much of the same: CentreCourt is planning several new condos that reflect these prior visions. According to the developer, these projects will include unique amenities like rooftop gardens, smart home technology, and wellness facilities like fitness centers and co-working spaces.
The Shift from Low-Rise to High-Rise Living
Historically, Pickering has been characterized by a predominance of single-family homes and low-rise developments. However, some trends indicate a shift in buyer preferences towards high-rise living.
This change is driven by various demographic trends. The most prominent reason for this shift is because of the affordability factor in comparison to low rise properties. Young professionals are increasingly looking for low-maintenance housing that offers access to amenities and public transportation. Meanwhile, retirees are seeking downsized options, like smaller condos, that do not compromise on community engagement. Then, you have a thriving second home market across the GTA, which these developments can attract. And lastly, we’re seeing a lot of young Toronto families explore various reaches of the GTA to put down roots in a suburban environment while remaining relatively close to the downtown action.
For many, high-rise living offers the best of all worlds, providing a vibrant community atmosphere with a focus on sustainability while reducing the burden of home maintenance.
Case in point: per the company’s own wire, 95% of the Pickering development sold out in its first week.
The Impact on Pickering’s Economy and Real Estate Market
CentreCourt’s high-rise developments are poised to impact the local economy and real estate market. We’re just not entirely sure how and how much yet.
Historically, similar projects in nearby areas have led to notable increases in property values. Despite a relatively sluggish demand for condos overall in the GTA right now, this could indicate that Pickering real estate stands to benefit from the development. Any time an area gets a fresh boost to its infrastructure, facilities, and transportation (which is the case with the city’s ambitious Pickering Growth Plan, of which the CentreCourt development is a part), it’s usually a good thing for surrounding properties.
Moreover, we can expect that the construction phase of these developments, set for the first quarter of 2025, will create jobs and stimulate local businesses as new residents flock to the area. Increased foot traffic from condo dwellers should provide a boost to retail establishments, fostering a more dynamic local economy. And the anticipated influx of new residents is expected to elevate demand for various services, from grocery stores to healthcare facilities, contributing to the overall growth of the community.
Some could argue that the fresh injection of supply could affect real estate demand in the area. However, most spectators, including Pickering mayor Kevin Ashe, aren’t worried. He told the CBC, “This signature development, located in the heart of our city centre, will bring the density where it should be.” And local urban planner Naama Blonder was similarly approving: “Retail is struggling on one hand, and we are struggling with housing on the other hand, so the best use of land is to really come up with those mixed use, complete community concepts like this one.”
Community Integration and Infrastructure Development
As mentioned, CentreCourt isn’t just focused on building high-rises; they’re also committed to integrating these developments into the existing community fabric of Pickering.
The developer is collaborating with the City of Pickering to enhance local infrastructure, including improvements to public transportation systems. New bus routes will connect high-rise residents to major transit hubs, making it easier for them to access the rest of the GTA.
Additionally, CentreCourt plans to incorporate public parks and communal spaces within their developments, promoting community interaction. These green spaces will serve as recreational areas where residents can gather, socialize, and enjoy outdoor activities. This commitment to community integration addresses potential concerns from existing residents about increased density, emphasizing that high-rise living can enhance rather than detract from the community’s quality of life.
Future Prospects and Trends
Looking ahead, the expansion of CentreCourt into Pickering is likely to influence broader real estate trends in the region.
If successful, the development could set a precedent, encouraging other builders to invest in high-rise projects and paving the way for a more urbanized Pickering. This shift could lead to changes in zoning regulations that accommodate high-density living, including increased building heights and mixed-use developments.
The long-term vision for Pickering is to transform it into a model of sustainable urban living within the GTA. CentreCourt’s developments, with their focus on community-oriented design and environmentally-friendly practices, align with this vision. As the city continues to grow, the importance of planning for sustainable development becomes paramount, ensuring that Pickering remains an attractive place to live for generations to come.
Ready to Explore Pickering’s Potential? Let Harvey Kalles Real Estate Guide You
As Pickering’s real estate landscape transforms with Centrecourt’s bold new developments, finding a trusted advisor becomes key. At Harvey Kalles Real Estate, our experienced team is here to help you navigate these changes and capitalize on this growing market. Whether you’re considering buying a condo as a new home or an investment, reach out to us for insights, opportunities, and expert guidance to make the most of this exciting time in Pickering. Our company has sold more suites here than any other sales team. Call us to find out why there is such excitement and interest in this condo and to schedule your own site tour.
To recap, CentreCourt’s expansion into Pickering represents a transformative shift from low-rise to high-rise living that has the potential to reshape the area’s real estate market and community dynamics. With their commitment to sustainability, community integration, and high-end design, CentreCourt is poised to create vibrant new luxury districts that cater to the needs of modern residents.
As this development unfolds, be sure to partner with the best real estate agents in the GTA to capitalize on these exciting opportunities.
