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MALONE GIVEN PARSONS LTD www.mgp.ca
LAND AND DEVELOPMENT CONFERENCE What Has Happened to the Low Rise - - PowerPoint PPT Presentation
LAND AND DEVELOPMENT CONFERENCE What Has Happened to the Low Rise - - PowerPoint PPT Presentation
LAND AND DEVELOPMENT CONFERENCE What Has Happened to the Low Rise Market? Opportunities/Challenges? Matthew Cory, Malone Given Parsons Ltd., May 13 th , 2014 Timing for New Community Areas MGPs Outlook in 2008 MALONE GIVEN PARSONS LTD
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Timing for New Community Areas
MALONE GIVEN PARSONS LTD www.mgp.ca
Present – OMB Hearings
- n Upper-tier municipal
plans commencing OMB Hearings and Settlement Area Boundary Expansions Resolved Completion of Studies and Approval of Secondary Plans in GGH Expansion Areas Building Permit/ Construction Starts in New Expansion Areas
- f the GGH
Original Conformity Deadline JUNE 2009
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Greenfield Land Remaining
MALONE GIVEN PARSONS LTD www.mgp.ca
2011
21,480 15,830 9,000 7,620 4,330 4,160 34,810 27,610
10,000 20,000 30,000 40,000
2006 2011
Designated Greenfield (ha)
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MALONE GIVEN PARSONS LTD www.mgp.ca
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Greenfield – Low Density Residential
MALONE GIVEN PARSONS LTD www.mgp.ca
2011
Greenfield Low Density Residential
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MALONE GIVEN PARSONS LTD www.mgp.ca Residential Growth Historical Trend vs. Regional Implementation Unit Mix, 2006-2031 250 500 750 1,000 1,250 1,500 1,750 2,000
2031 2006-2031 2031 2006-2031
68%
14%
16%
17%
23% 18%
9%
27%
31% RESIDENTIAL UNITS (000)
Apartments Rows Singles/Semis
"CURRENT TRENDS" PRE-GROWTH PLAN
GROWTH PLAN IMPLEMENTATION
56%
46%
76%
Shift 220,000 Singles/Semis to Rows and Apartments
GTAH Housing Need vs Density Targets
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Affordability
MALONE GIVEN PARSONS LTD www.mgp.ca
Markham- 3 Bedroom, 3 Bath
Single Detached 2,200 Sq Ft Asking $569,000 = $259 / Sq Ft Townhouse 1,855 Sq Ft Asking $549,888 = $296 / Sq Ft Apartment 1,250 Sq Ft Asking $610,000 = $488 / Sq Ft
From Kijiji and MLS – May 8, 2014
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Whitebelt – Estimated Consumption
MALONE GIVEN PARSONS LTD www.mgp.ca