Posted on Tuesday October 20, 2015
Downtown Oshawa continues to be an attractive place to invest. Downtown Oshawa was recently named a Top 100 Neighbourhood for investment in Canadian Real Estate Wealth Magazine’s annual neighbourhood report for 2016.
In addition to placing in the list of Top 100 Neighbourhoods, Downtown Oshawa was also ranked as one of Canada’s Top 10 Highest Yield Neighbourhoods and as one of the Best Markets for Capital Growth. The full neighbourhood report is available in the magazine’s November/December 2015 issue.
The report identifies residential markets expected to lead growth in 2016. Canadian Real Estate Wealth used data from The Teranet - National Bank House Price Index™ and industry analysis to form rankings on price appreciation, yield and rental values.
The results pinpoint locations and property types investors should consider for both short- and long-term growth. Downtown Oshawa was named a top neighbourhood for its “growing economy, developments at its post-secondary campuses and transportation efficiencies.”
“Downtown Oshawa is undergoing a renaissance and is well positioned for future growth,” said Councillor John Aker, Chair of the Development Services Committee. “Investment in the downtown includes a new hotel and conference centre, new mixed-use apartment developments and the addition of incubation and start-up space for entrepreneurs. More people than ever before are coming to the downtown to study at UOIT’s five university buildings, to work, and to enjoy concerts, sports events and restaurants.”
The Top 100 Neighbourhood ranking marks the sixth acknowledgment this year that Oshawa has received for its economic development accomplishments. Others include:
- Top Economic Group – City received an honourable mention as a Top Canadian Economic Development Group (Site Selection magazine, 2015)
- Real Estate Hot Spot – Oshawa ranks Top 10 for real estate value in Canada (MoneySense magazine, 2015)
- City of the Future – Oshawa ranks as a top Canadian city in the Top 10 Small American Cities of the Future for 2015 (fDi Intelligence, a division of the Financial Times UK, 2015)
- Top Economic Developer – Oshawa economic developer recognized as one of North America’s Top 50 (Consult Connect, 2015)
- Best Place to be a Woman in Canada – Oshawa ranked 10th best city in Canada (Canadian Centre for Policy Alternatives, 2015)
The change that Oshawa is experiencing is undeniable, with a number of major commercial and industrial development projects, growth in post-secondary academia and record-breaking residential construction. Developments underway include:
- Highway 407 East extension that is under construction
- Oshawa Centre expansion and renovation project
- new fire hall and residential subdivisions in the northern area of the city
- new Holiday Inn Express and Conference Centre in the downtown
- renovation of the historic Genosha Hotel in the downtown into a mixed-use apartment and commercial building
- new 12-storey mixed-use building in the downtown with apartments, commercial floor space, underground parking and bike spaces
Visit the Business & Investment webpage or follow @InvestOshawa on Twitter for up-to-date information on development news, business resources, site selection statistics and more.