Markham, a city distinguished by its large steps towards development, is currently undergoing a dynamic transformation that is reshaping its real estate market and the environment in which its citizens inhabit. This transformation is driven by the development of the bus-rapid transit system and the eagerly anticipated extension of the GO train to York Region. What changes can you expect to see in your region following this sudden surge in development?
The recent focus on bus-rapid transit and the expansion of the GO train into the York Region is very heavily tied to an aspect of urban planning called “transit-oriented development” or TOD. Toronto has a very old history with TOD, as the city seems to encourage residential developments along transportation lines, such as the development in the Yonge and Eglinton area, which dates back to the 60s and 70s. Areas like King Street and Spadina Avenue have seamlessly blended new transportation and expansion with convenience and development, seen in new bike lanes, cafes and restaurants in the area. The York Region has seen similar movement with their consistent development around their bus-rapid transit systems. We’ve seen this area slowly turn into one of Toronto’s biggest tech hubs, home to companies like IBM, AMD and Qualcomm. Following the development of the bus-rapid transit systems in the York Region, various office buildings and condominiums were constructed in specific areas shortly after, proving that new infrastructure planning and development follows transit development in Toronto. This means that Markham residents can anticipate lots of development happening in the GO expansion areas. In the end, transit-oriented development will create more amenities for people in the area and will continue to shape local neighborhoods by creating a new blend between urban convenience and modern amenities.
The progressive approach to transit development in the York Region will significantly enhance property values in the area. In today’s world, homebuyers are looking for properties with convenience woven into the area; local grocery stores, shopping centers, transit lines and recreational centers. The transit-oriented development in these areas result in increased economic growth and regional demand. Some recent examples include the Cornell and Downtown Markham area. Both neighborhoods are strategically located near popular transit hubs, which attracted a diverse range of homeowners and helped skyrocket property values. The same effects can be expected in affected areas, which’ll attract new investors and residents within the next couple years of construction. This means a rise in property values and rental prices should be expected as part of the area’s development. This increased demand however, calls for striking a balance between the original functionality of these neighborhoods and the modern aspects that transit oriented development will bring to the area.
The TOD approach will encourage more sustainable transportation practices. It’s possible to see a reduction in car dependency with the upcoming availability of the GO train and further development of bus-rapid transit systems. This will not only enhance the balance between all aspects of the city, but will also contribute to environmental conservation and the reduction of carbon emissions. The city’s contribution to becoming greener, may allow citizens to opt for more active methods of transportation such as walking and biking. The rapid transformation of Markham's real estate fostered by its ambitious transit infrastructure projects is testament to the city's unwavering commitment to progress and modern connectivity. The development of the bus-rapid transit system and the expected extension of the GO train to York Region are sure to change the way residents travel, commute, and engage with their environment. As we have explored the impacts of these transportation projects on local neighborhoods, it’s clear that the area is changing for the better, with increased desirability, improved accessibility, and enhanced connectivity defining the future of Markham. York continues to cement its position as a thriving hub of innovation, where the dynamic integration of transit and real estate sets the stage for a more vibrant, connected, and green future.
