What is a master planned community?
A master-planned community is a large-scale residential development with a large number of recreational and commercial amenities. They are very strategically planned and located making them long-term projects that include multiple phases. Master planned communities are created to gentrify urban areas that are under-utilized. The homes are designed around the community ensuring you have easy access to everyday essentials.
A master planned community takes years to fully develop and reach its full potential, which makes it a long-term investment. Once fully developed you have a private community with its own shops and restaurants for residents to utilize.
Here are 4 reasons why you should consider investing in a master planned community:
Return on Investment
Developers of a master planned community have complete control of supply and demand in the project, which is a key advantage when continuing to build and accommodate residents. The earlier an investor purchases in the community the better the price will be. Since master planned communities take years to build and fully develop, it gives time for your investment to grow. Prices in a master planned community continue to go up over time as the infrastructure is built out.
Concord CityPlace was the first and the largest master planned community in Downtown Toronto. It has many benefits including 120,000sqft of retail, an 8-acre park, library, schools, and a community center. It appreciated 182% from the start of construction in 2009 to completion in 2020. Toronto Real Estate has a significant proven track record of stable growth which is a benefit when investing in a master planned community.
Buying in a master planned community is a solid long-term investment because a developer usually charges more for each building in every phase. Buying in the early phases of development will ensure that by the time the project is built, everyone who’s bought in later phases will be paying higher prices which in turn means that your property value will go up. When you purchase in a master planned community, the first building launch is always the best price. Each subsequent building as the development continues to proceed is launched at higher pricing and the developer raises prices as the community is built and more established. You will see a rise in your property value, which will be a great return on investment.
Master planned communities are becoming increasingly popular
Master planned communities are very well thought out, and strategically designed projects. A developer will acquire a large piece of land and plan commercial and residential projects to build out the community over time. They are built to have everyday necessities at your convenience. Master planned communities are becoming more popular for families as the low-rise single-family market is the highest it has been in almost 20 years.
Increased green space, retail opportunities, and new infrastructure are all key elements in what is making these communities more popular. There are several new projects coming in 2021 including The Buckingham in Grand Central Mimico, and The House of Assembly. Both in a great location, and you can enjoy access to private amenities.
Master planned communities are conveniently located
When you buy any property, location is an important factor to consider as it directly affects the property value. Master planned communities are designed to ensure everything you need is right at your fingertips. You have easy access to necessities like supermarkets, shopping centers, restaurants, and gyms.
These communities are also strategically planned to have easy access to transportation. For example, The Buckingham at Grand Central Mimico has direct access to the Mimico GO Station and is close to the future Ontario Line. Another great example would be The House of Assembly, with a perfect transit score of 100. The Bloor GO Station and UP Express are only 500 meters away from this project and you are also steps away from two subway stations: Lansdowne Subway Station and the Dundas West Station. In a bustling city like Toronto, it is important to be close to transit and walking distance to everything you need.
Imagine living in a place where you can live, work, play, and shop within a few moments from your home. Master planned communities bring additional housing opportunities to under-utilized areas. Being conveniently located they make trips to work and everyday necessities simple.
Access to a number of amenities
Master planned communities are centered around the unique amenities offered for the residents. It allows them to offer more amenities than a regular building without having to pay extra for them because more people are contributing to the condominium fees. Having a lot of amenities is a great selling feature down the road, as many buyers are attracted to them.
The Buckingham in Grand Central Mimico is offering a number of amenities including a 7,500 sqft fully equipped Wellness Centre that has a yoga studio, steam room, and massage therapy room. It also features an outdoor fire pit area, and al fresco dining for residents to utilize the terrace and green space.
With many master planned communities currently being developed in the GTA, there are many benefits when considering investing in them. Book a call with us here and we can help you find the perfect pre-construction project for you!