The new development market in London, Ontario forges on, with 65 projects currently at various stages of development in the month of December 2014, according to Buzz Buzz Home. CMHC’s Housing Now fourth quarter update indicates that there has been a steady increase in buyers in the 24-25 years and 55+ year age groups who are representing a large share of the condominium market.
North Point Lofts, a 4-storey, 51 unit development by Domus Developments, is currently an example of the type of condo development that is currently in pre-construction. It is London’s first, modern loft development and could be an indication of the types of developments that will appeal to London’s emerging real estate market.
Village North Condos is a new development by Tricar, located at Sunningdale Road West & Meadowlands Way. It’s 14 storeys, with a total of 153 units (starting at $238,000), and is expected to be complete in May 2015.
Tricar is responsible for 12 condo developments in Southwestern Ontario, five of which are in London, Ontario. Some of their developments, like the Villas of Wortley (a 4-storey, 36 unit project) are rental buildings. It’s currently under construction, with occupancy set for late spring/early summer 2015, according to the developer’s website.
Nuvo at Parc Centre, a development by Old Oak Properties, was complete in 2012 and featured units starting at $194,900. However, with developments like Village North condos, which features units starting at $239,000, the London, Ontario condo market could be seeing an uptick in average price in the coming years.
Whether you are looking at new developments or existing homes, I am an experienced London, Ontario Realtor who keeps an eye on the ever-changing market. I have helped clients from various backgrounds find the condo, townhome or single-detached home that best suits their lifestyle and needs. Let’s get you started on the search for your dream home today! Contact me to learn more.