sheppard east lrt

How Potential LRT and Subway Lines Will Increase Toronto Condo Values

Condo values in Toronto continue to climb. With certain parts of the city set to receive major upgrades in public transit, certain condos can expect to see an accelerated growth.The correlation between better public transit infrastructure and increased condo values has been prevalent for a long time. In the past few years, the city of Toronto, the TTC and Metrolinx have invested well over $150 million in upgrading the Toronto public transit network.

With so many resources being allocated to new projects and the city putting forth new proposals on a consistent basis, it’s going to be very interesting to see the increase in transit scores in the nearby condo developments. Transit scores take into account factors such as average commute times, access to highways, public transit and such. A solid transit score will be around 90/100 or above.

Here is a brief look at some of the more well known LRT and subway additions, coupled with new condo developments that will stand to benefit:

Danforth Relief Line

Current Status: Proposeddanforth village condos

Proposed Plan: A new subway line aimed at relieving congestion on the Yonge line. The project would see a line intersect through Danforth Village and connect riders to the downtown along Queen Street East.

Condos to look for:

The growing east end of Toronto would only grow faster if this new project were to begin development.  Condos along the Queen and Broadview corridor, in particular, will benefit greatly. Look for: Canvas Condos, On the Danforth, River City Phase 4, 875 Queen Street East Condos.

river city phase 4 condos

River City Phase 4

The Eglinton Crosstown LRT

eglinton lrt condosCurrent Project Status: Under construction – completion in 2021

Proposed Plan: Once completed in 2021, the Eglinton LRT will connect riders for 19 kilometres along Eglinton Avenue from Mount Dennis to Kennedy Station in Scarborough.

Condos to look for:

In our recent post where we highlighted the price per square foot of all available Toronto Condos by subway stops, we noted that prices near major transfer stations were much higher. Condos around Eglinton West and Eglinton-Yonge stations should see a great increase in value. Look for: Empire Midtown Condos, the Eglinton Condos, the Rose Club Condos, Citylights on Broadway Condos, 1 Eglinton East.

the eglinton condos toronto

the Eglinton Condos

Waterfront West LRT

waterfront west lrtCurrent Project Status: Proposed

Proposed Plan: Shut down by former Toronto Mayor Rob Ford in 2010, this LRT project has again picked up steam. The plan originally was to connect the Humber loop straight to Toronto’s Union Station along the Waterfront.

Condos to look for: While condos along Toronto’s Queens Quay will be generally unaffected, developments along the Lakeshore between the Humber and Exhibition loop could see a major boost in value. Look for: Vita by the Lake Condos, Westlake Encore Condos, Eau Du Soleil Condos.

vita by the lake condos toronto

Vita by the Lake Condos

York-Spadina Subway Extension – In progress

york spadina subway torontoCurrent Project Status: Under Construction – completion in 2017

Proposed Plan: Once completed in 2017, this project will see the addition of 6 new subway stations extending from Downsview Subway Station, north to Vaughn.

Condos to look for: With faster access to the downtown core, condos in the Vaughan are going to see an increase in demand. Look for: Cosmo Condos, Park Avenue Place Condos, Centro Square Condos

cosmo condos toronto

Cosmo Condos

Yonge Subway Extension

yonge subway toronto condosCurrent Project Status: In June of 2016, the province committed over $55 million to the proposed project.

Proposed Plan: The plan aims to extend the Yonge line from Finch 7.4 kilometres north to Highway 7 and Richmond Hill Centre.

Condos to look for:

Running parallel to the York- Spadina subway extension, this upgrade will benefit the residents living along Yonge from the Richmond Hill Centre, right to Finch Subway Station. Look for: The Vanguard, SkyCity 2 Condos, 8188 Yonge Condos

8188 yonge condos toronto

8188 Yonge Condos

Finch West LRT

finch west lrt toronto condosCurrent Status: Approved

Proposed Plan: The Finch West LRT involves an 11-kilometre track along Finch, connecting riders from Humber College (North Campus) to the future Finch West Subway Station.

Condos to look for: The stretch of Finch West isn’t known for its condo developments. However, there are a few reasons to believe the additions of the new subway station and future LRT could see an increase in development in the decades to come.

The Lexington Condominium Residences by the Park, The Admiral Towers.

The Lexington Condominium Residences by the Park toronto condo

The Lexington Condominium Residences by the Park

Sheppard East LRT

sheppard east lrtCurrent Project Status: Approved – Projected 2024

Proposed Plan: This new transit project will run 13 kilometers along Sheppard avenue. The LRT will connect Don Mills subway station to the east of Morningside Avenue.

Condos to look for:  

The Shops at Don Mills is already a destination for residents living in Toronto’s North East. With the added benefit of LRT transit, transit scores in the neighbourhood should see a positive spike.

Rodeo Drive Condos, 169 the Donway Condos, Flaire Condos.

Rodeo Drive Condos toronto

Rodeo Drive Condos

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