2019 was a busy year of announcements and further exciting news to come in 2020! In the next couple of years I believe Niagara will be booming as property to price ratios are still a bargain in comparison to other closeby regions with similar infrastructures.
“Everyone knows Niagara Falls, but I think the key is making Niagara Falls part of the discussion and I think that’s exactly what’s happening. People are talking about Niagara Falls in a positive way, which is leading to more positive investments and outcomes and, for that, we’re really excited.” says Mayor Jim Diodati.
Here are my current top reasons placing the Niagara Region at the top for real estate acquisition…
GO Train Expansion
The train departs at 5:23 am from Niagara Falls and arrives at Union Station in Toronto at 7:50 am, Monday through Friday. The train back departs Toronto at 5:15 pm and arrives in Niagara Falls, ON at 7:42 pm. The next natural progression would to to add more trips back and forth, which has been already implemented on the weekends. Weekend trains to Toronto depart at 8:30 am, 11:30 am, 5:20 pm, and 11:00 pm. Weekend trains from Toronto depart 9:00 am, 6:18 pm, and 8:10 pm; arriving in the Falls at 11:04 am, 6:22 pm, and 10:14 pm, respectively.
Robert Restaino, the incoming Mayor of Niagara Falls New York has also expressed an interest in accessing the GTA commuter GO train service and will meet with Mayor Jim Diodati in January 2020.
Once there are multiple trains going from Niagara to Toronto and back it is only logical given the GTA’s average home price of close to a million dollars, people will relocate to the region for its affordability. People who commute don’t care as how far it is, but more importantly how long it takes to get to work and back. Simply put I can drive in the painful GTA rush hour or take the GO train home, either way there is still a lengthy amount of time to get to my place of residence.
$150 million Falls Project at Stanley and Ferry
This massive project will consist of a 30-storey apartment building with 300 units, a 12-storey hotel with 150 rooms, and a seven-storey commercial building with 50 units. The development will change the landscape dramatically along the corner of Ferry Street and Stanley Avenue. “The property owner is Pawel Fugiel of La Pue International Inc.
The development would be located behind the Dairy Queen restaurant on the corner of Ferry Street and Stanley Avenue. The first phase of the project, the hotel, could begin by early next year. The entire development could be finished in 18 months.
The abundance of these type of high density living developments in the Niagara region is a tell tale indicator that there is a projected influx of migrants into the region. It is the not only of my opinion but also that of millions of investment dollars.
New Niagara Entertainment Center
A 5,000-seat entertainment center in Niagara Falls is in the process of construction. The new expanded facility will accommodate larger concerts, shows and attractions, and is expected to draw more visitors to the city of Niagara Falls. The facility will be located adjacent to Fallsview Casino, and will be connected with an enclosed walkway. There are 3,000 seats on the main level, 1,000 on the second level and 1,000 above that. They’ve got curtains so if they want to do a little smaller, intimate show, they can curtain off the upper areas. So many details have been taken into consideration to make this a superior entertainment venue.
An investment of this magnitude will directly enhance the entertainment scene and increase the already staggering amount of visitors we have coming to the city each season. Tourism being the main engine of business in Niagara will greatly benefit from the opening of this world class facility.
The New Costco moving into Niagara Square
The well known Costco chain will be moving into at the now vacant Niagara Square. At a whopping 150,000 square feet the building will be larger than the Costco store in St. Catharines and will feature a gas bar. The actual store will be set back, at the rear of the Montrose Road property. The new store will be a a great anchor for more growth in the city’s south end, which has already seen development of large subdivisions in recent years.
A large major retailer always does extensive regional market analysis before spending capital erecting a large facility such as this. I would be confident to say that Costco given its success in other sites has done their research prior to making the decision to set up their facility in the Falls.
New Niagara Hospital
Even though construction on a new south Niagara hospital is not expected to start for another three years, work is being done to prepare the site for development. The long awaited hospital cut another piece of red tape in the planning process with the provincial government’s announcement that the project is in pre-procurement. Infrastructure Ontario will start seeking builders for the contract in 2022.
Estimates will require the province to spend about $1 billion and the facility will have state of the art equipment to service the aging population and the the 14 million people who visit the city each year. New and updated healthcare facilities are another tell tale sign of projected growth into the area.
3 Bridges hotel, condos Niagara Falls development
The Great Falls project at 6880 Stanley Ave will be the second Canadian development for 3Bridges, which was established in B.C. in 2014. It is in the planning stages for the historic Loretto Academy site. “The Great Falls” will sit on 7.4 acres of prime waterfront land. Initial plans call for a 32-storey south tower, 57-storey central tower and 42-storey north tower that will include a luxury hotel and amenities along with condominium residences. Early estimates are that the development will be worth about a billion dollars.
The 3 Bridges team has years of experience in erecting large development projects worldwide, partnering with overseas investors to maximize the end results. The Canadian arm was founded in 2014. With the combination of the scenery of the falls on your balcony and a reputable developer, this site is something I will surely keep a close eye on.
In summary, at this point in time there is still an abundance of unrealized value in the Niagara region. Many families and investors have already capitalized by moving into this area of undervalued greenspace. Join us in Niagara for the most elegant and affordable lifestyle in southern Ontario!
Faith in land and bricks,
Broker of Record
Infinity 8 Realty Inc.
Office: 289 932 0082
Cell: 289 407 8379