A lot of people who are new to real estate investing assume that bigger is better when it comes to choosing the best place to invest in a new property, but there’s a lot to be said for investing in an area that is still coming into its own. A place like Cornell, a new community village that’s under development in Markham, Ontario, offers countless opportunities for investors who want to get in on the ground floor with an investment in an area that’s slated for big things in the coming years.
Table of Contents - Benefits of Real Estate Investing in Cornell
Cornell planned community with growth potential
Cornell is a planned community that was first established in the 1990s. There are many distinct communities throughout Markham but, unlike those communities, Cornell’s development was planned by the City of Markham. In 2011, Cornell had a total population of 9,88 residents. Cornell was developed to curb the problem of suburban sprawl that was becoming more and more concerning in the 1990s. The vision for Cornell was that the community would give residents access to essential services, great recreation opportunities and events without the need to leave their neighbourhood.
The community of Cornell is designed to encourage residential density by providing central amenities and various retail opportunities that make the neighbourhoods very walkable. The homes in Cornell are primarily townhomes, semi-detached or detached houses with garages in the rear of the home. Cornell is conveniently located alongside Highway 407 and the Donald Cousens Parkway, making it easy for residents to commute, travel, and explore the area. Cornell is just 30 kilometres from Downtown Toronto, allowing residents to access Toronto’s attractions and resources in just a matter of minutes.
Cornell is the perfect place for recreation
There is a wealth of recreation opportunities available to Cornell residents. There are several parks in Cornell, including Cornell Village Park, New Union Park and Grand Cornell Park. In addition to these parks, there is also the Cornell Community Center which features a variety of community resources. The Cornell Community Center has a public library, community rooms and an indoor swimming pool for exercise and recreation. In addition to the current community amenities in Cornell, there are also a variety of public and private projects in the development pipeline.
In addition to existing recreation opportunities in Cornell, there are also a variety of new projects on the horizon in Cornell. From a new park to new condos and retail buildings, there are a lot of planned projects that will continue to bolster Cornell’s growth in the coming years. There are currently a large number of non-agricultural plots in Cornell that will continue to blend into the ongoing development of the area in the coming years.
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Business, industry and development
The City of Markham has taken a proactive approach to development, small business growth and economic investment. With business and investor-friendly programs and processes, development projects can move forward with minimal regulatory hurdles and expedited approval processes. In response to the COVID-19 epidemic, Markham has offered a Tax and Stormwater Fee Payment Deferral Program to minimize costs for businesses that have been affected by the pandemic.
In addition to other development programs and initiatives, the City of Markham is also undertaking a comprehensive Zoning By-Law Project to evaluate the existing zoning framework and current zoning by-laws. At the end of the project, the City of Markham will have a new, interactive website with comprehensive zoning information and updated by-laws to optimize land use and regulation throughout Markham, including in areas like Cornell. This project will make zoning regulations much more accessible to developers and investors in the coming years.
The City of Markham offers a variety of resources for small businesses, including online seminars and workshops, eCommerce support and comprehensive services from the Markham Small Business Centre to foster growth and support continued economic development in the area. Through the City of Markham, business owners have the opportunity to network with other entrepreneurs to strengthen their connections and develop a strong support system. Markham also has a Small Business Centre
Cornell real estate market
The real estate market in Cornell has remained steady despite many of the challenges presented by the COVID-19 pandemic. The average home price between November 2020 and January 2021 was $892,000, a yearly change of 24.1 percent. Most of the homes sold in Cornell are townhouses, followed closely by detached homes with condos coming in at a more distant third. Cornell listings spend an average of 25 days on the market, meaning that property owners can anticipate a relatively rapid turnaround when selling a home.
In addition to the residential real estate options in Cornell, there are also several commercial real estate listings available for investors. From large, modern office buildings to small storefront spaces, there are lots of ways for investors to get involved in the Cornell commercial real estate market. While commercial real estate has slowed down since the start of the pandemic, there are countless resources and initiatives in place to ensure that businesses return to normal as soon as possible and it’s only a matter of time before Cornell’s commercial real estate market starts booming again.
Markham is home to hundreds of corporate offices, thousands of science and tech companies. The city attracts a significant amount of foreign investment with 240 foreign companies located in the city. Markham’s thriving and diverse economy and the City’s business-friendly approach to development have promoted widespread development, technological innovation and the development of unique talent. Cornell’s development has been supported by exciting new projects and investments in Markham.
Investing in Cornell
As a planned community, Cornell offers unique benefits to investors who are looking for a new opportunity in residential or commercial real estate. Adding a Cornell property to your portfolio is a great way for investors to benefit from rising development in an area that has a lot of exciting new projects in the pipeline. Purchasing Cornell real estate is an investment that will continue to pay off as economic development drives growth in the area.
Real Estate Professionals in Cornell
We have searched high and low for real estate investing professionals in Cornell. Below, you can find professionals we have researched and can confirm they specialize in working with Real Estate Investors.
To ensure the maximum success in real estate investing in Cornell, or any city, you should always use professionals who understand and work with investors, your income depends on it.
This list may not fully list all the professionals in the area, but the ones we have personally investigated and that we would refer our clients to.
If you’re a real estate professional and would like us to consider adding you to the list, please contact us.
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