If you haven’t been to North Oakville in a while, a drive on Neyagawa north of Dundas might bring some surprises. Oakville is currently one of the fastest growing communities in the GTA. What does this mean for real estate?
Four new areas are being designated north of Dundas – 407 West, Sixteen Hollow, Glenorchy, and Joshua Meadows. Trafalgar road and Dundas will be the central urban core of the area with commercial and mixed development. Employment areas are planned along the 407.
Zoning and bylaw amendments are on the rise to allow for new buildings. For example, Oakville’s Official Plan is being amended to allow larger 10-storey building developments to go up in the Dundas and Trafalgar area.
This densification will create more needs for transit options. As such, Oakville has planned extensive bike lanes and will increase public transit options as more people move to the area.
Overall, the area is expected to attract 50,000 new residents. In addition, 35,000 jobs are expected to be created. That means there is a lot of opportunity to get into the housing market in a town that boasts one of the highest rankings in Canada.
To some, the development of North Oakville will be an unwelcomed expansion of suburbia. However, Oakville town planners are designing the area with extensive park systems and more densification.
With the economic attractiveness of the GTA, development is inevitable. But we can be content in knowing that development is being planned and designed to ensure that Oakville remains one of the best places to live in Canada.