Condos a popular new home choice in hot Markham market

As the fourth most populous community in the GTA – following Toronto, Mississauga and Brampton – Markham has been a hotbed for economic growth and development for years.

It’s long been known as a centre for growing sectors such as technology and life sciences – and therefore employment growth – one of the key drivers of housing demand.

Today, Markham is home to more than 1,000 such companies, with IBM, Huawei, Honeywell, Advanced Micro Devices, Motorola and Oracle all having their Canadian headquarters located in the city.

Residence has its price

Buying a home in Markham may cost you, though, as it has also become one of the GTA’s most expensive housing markets.
According to the Royal LePage Home Price Composite for the first quarter of 2022, aggregate home prices grew 22 per cent year-over-year to $1.39 million.

New-home development is a priority for the City and Mayor Frank Scarpitti, who was first elected in 2006, and is known as developer- and builder-friendly. The city has a number of new home developments underway, including some high-profile condo and lowrise projects.

The revitalization of Downtown Markham has been spearheaded by The Remington Group’s multi-use development along Main Street, which includes expansive retail shops, a Marriott Hotel, a Cineplex, as well as a variety of condos and townhomes.

Indeed, Remington’s Gallery Towers twin-tower residence promises to be visually impressive, linking a seven-storey podium, with all suites appointed with large terraces or balconies, providing valuable outdoor spaces and inspiring views of downtown Markham.

This 243-acre urban hub combines luxury residences with offices, shops, dining and entertainment. Steps from the Unionville GO, with easy access to major highways, and a dedicated VIVA Rapidway, Downtown Markham is perfectly positioned to allow for easy commutes. And with more than 3.7 million sq. ft. of premium office space and more than 10,000 companies in and around Markham, residents may not need to commute at all. Gallery Towers suites start in the $600,000s.

Cultural diversity

Culture is also an important attraction in Markham, with The Flato Markham Theatre (so-named thanks to the support of local builder Flato Developments) offering more than 300 live performances each year. In addition, Varley Art Gallery encompasses the historic Kathleen McKay House, which was the home of the Group of Seven’s Frederick Horsman Varley for the last 12 years of his life. Measuring 15,000 sq. ft., the gallery is the second most popular tourist attraction in York Region.

Markham also has dozens of parks with baseball diamonds, soccer pitches and children’s play areas and splash pads. The city also boasts more than 22 kms of scenic pathways, including 12 bridges that provide recreational activity for joggers and cyclists.

The largest park in the city is the Milne Dam Conservation Park. Measuring 305 acres, it is bordered by thick forest on the south and east and the Rouge River runs through the middle.

Toogood Pond is an 82-acre park that features a partially naturalized pond and marsh, and it recently underwent revitalization to remove sediment, restore the shoreline and plant native foliage.

Getting around Markham is facilitated by easy access to Hwys. 404 and 407 and the DVP, and for public transit, York Region Transit/Viva connects with all nine York Region municipalities. GO Transit provides regular train and bus service.

LOCATION, LOCATION, LOCATION

Population of 338,503, located in the Regional Municipality of York in the GTA; distance from downtown Toronto, 30 km

KEY LANDMARKS

• Flato Markham Theatre
• Varley Art Gallery
• Milne Dam Conservation Park
• Angus Glen Golf Club

SELECT CONDO DEVELOPMENTS

Canvas on the Rouge
By Flato Developments
flatogroup.com

Gallery Towers
By The Remington Group
downtownmarkham.ca

LivGreen2
By Ledgemark Homes
livgreen2.ca

Panda Markham
By Lifetime Developments
lifetimedevelopments.com

Riverview
By Times Group Corp.
timesgroupcorp.com

NOTABLE NEIGHBOURHOODS

Angus Glen
Berczy
Cornell
Rouge River
Unionville