Retail Explosion in Canada’s Fastest Growth Corridors by Ali Akman

The rapid outward expansion of real estate development from Toronto’s core is pushing residents and businesses to the outer reaches of the GTA. We are seeing the proliferation of new communities bringing with it prosperous financial and cultural growth.

Photo by Richard Hong on Unsplash

Fast Growing City Needs a Fast Growing Approach

The GTA is one of the fastest growing markets made up of a complex variety of private and public sectors and we are seeing an incredible growth in real estate opportunities within strong growth corridors, bringing with them a need to service these growing communities.

Toronto’s Pearson International Airport is a vital resource to the smooth ebb and flow of the local and international markets that operate within the GTA and national wide, servicing 49 million passengers and carrying 312,000 tons of commercial air cargo each year. Pearson Airport is the river mouth leading to the beautiful sea that is the great city of Toronto and it has long been the main port of travel for tourism and trade throughout the Greater Toronto Area and country of Canada as a whole.

Abundance of Opportunity

There are large numbers of residents being served and businesses expanding in the Airport Employment Zone (AEZ) of Toronto’s Pearson International Airport.

This has proven to be Canada’s second largest employment zone and is an essential growth corridor for the city of Toronto, which is home to more than 300,000 jobs across Mississauga, Brampton and Toronto, according to the AEZ Coalition. As with all major growth corridors in Canada, this community is in need of hotel capacity expansion to provide the increasing need for resources and services for tourism and corporate businesses residing in the AEZ.

The New Regal Plaza

Regal Plaza acts as a perfect example of the direction we need our businesses to start shifting towards. The new $130 million mixed-used commercial property is part of the Toronto-Airport East Holiday Inn expansion at Dixon Rd. and Highway 401. Rising 11 storeys and boasting 200,000 sq. ft. of ground-level retail, office condos and a new 204-room Holiday Inn Staybridge hotel with a banquet hall, the project will offer quick access to Toronto Pearson, Highways 27, 401, 427, and the Toronto Congress Centre.

SAMM Holdings’ Regal Plaza

There is a phenomenal opportunity at this juncture for businesses in and around airport hubs, such as the AEZ, to prosper through the progressive push for commercial properties. High growth in volume of traffic through Toronto Pearson has peaked in recent years, with The Greater Toronto Airports Authority (GTAA) noting a 5 per cent increase from 2017-2018, with upwards of 49 million and counting.

A spike in year-over-year passenger growth has made it evident that there is a need and opportunity to expand hotel capacity within this growth corridor. As this shift occurs we are seeing more and more gains to this approach, especially for those venturing into the office condo market. Business owners and their staff are benefiting from being in close proximity to the airport as it provides ease of work travel and ability to meet with partners from all over Canada and the world in an efficient and productive manner. They also benefit greatly from being near to banquet halls, conference rooms, hotels and accommodations, for any and all of their business needs.

Opening Up Possibilities

The world is changing quickly and retail businesses must keep up. Commercial real estate developers need to start looking at joining and servicing these cultural and financial hubs in order to meet the needs of a rapidly expanding city. The growth of any community begins first and foremost with a heavy investment in infrastructure and people.

This opens up the possibility for a harmonious growth of both businesses and individuals, creating a thriving balance that will lead to richer communities and more substantial growth for real estate investors and developers.

A More Dynamic Model: The Future of Condo Development in the GTA by Ali Akman

The GTA release estate market is rapidly expanding and we are seeing a major shift in the dynamic between homeowners, business owners, renters, and buyers. These trends are driving progressive businesses owners to shift the way they are looking at their property and office spaces, with more and more business owners turning to ownership of their office spaces, with many of which are situated within Toronto’s burgeoning Condo Office market.

Things to Look Out For

We are now seeing a push from business owners to own their real estate, rather than rent for years upon years, losing profits to rising rates while the demand of their business grows. The mechanics and reasoning behind these shifts are simple. In buying their office space they are building equity in their business and most importantly building equity in the real estate holdings of their company.

Smaller office spaces under 20,000 sq. ft. are non-existent within the city core with retail development trying to thrive in an expanding housing market.

Forward-thinking business owners are moving towards purchasing their offices outright, rather than renting them over long periods of time with expensive leases that drain the possibility of financial growth and that are sure to increase in the near future.

Better Businesses and Stronger Communities

Anything that is good takes time, commitment, and effort. Here-in lies the key to positive business to business and person to person interaction and development within a community.         

Although purchasing and owning your own office space can take a major initial investment, it is a wise move for any business owner wanting to give their employees the best possible environment to do the best work they can. We have seen a massive shift in progressive businesses thinking about their employees care and well-being as much as those of the client. A move towards owning your office space is a sign that you are putting down roots, committed, stable, and solid.

Trending Office Condos

This market expansion has led to massive changes throughout Toronto’s real estate investment communities and are now pushing business owners to consider more dynamic options for their Toronto real estate. This new wave of development incorporates an amalgam of commercial and residential real estate, with it bringing in the brilliant new mode of Office Condos.  Condo development in the GTA has exploded over the last decade, with hundreds of condominiums being approved for construction in the Greater Toronto Area for the coming year. This incredible explosion of development and real estate investment has left many business owners sour over the rising costs of rent.  

It is a difficult balance to strike, but commercial property owners are continually trying to keep up with the GTA’s real estate market boom, with tenants suffering from ever-rising rent prices. Because of the massive market spike in Toronto real estate we are now starting to see the beginnings of a new way building and organization commercial properties, with commercial real estate and commercial property owners looking to create more dynamic spaces to live and work in.

SAMM Holdings’ new Regal Plaza mixed-use development at Dixon Rd. and Highway 401 will incorporate customizable office condos as part of its design.

Massive Market Boom Leads to New Opportunities

GTA developers are looking to serve a more entrepreneurial and progressive market, with a focus on small-scale up-market users. With the growth of Canada’s condominium community, we see many benefits ranging from location, convenience, and efficiency, in a world where the pace of growth and production is moving quickly. Homeowners and office owners in the GTA are looking for affordable housing, with prime locations that put them in the thick of the city’s action, bringing businesses, residences, and communities together. The office condo push all over the GTA is working to bring our city together.

The Time is Now

Dynamic hubs are the way of the future and we must work towards building strong communities that serve the growing diverse needs of businesses and individuals that populate the vast expanse of the GTA.

Property ownership provides security along with a long-term gain on financial investment. It is the perfect decision for any established company that is looking to shed the nauseating mess of the rental market and take their business and their life to the next level.