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Located in the southernmost part of mainland Canada, Leamington is known for its sunshine and thriving tomato industry. However, this town has a lot more to offer than just nice weather and booming industry. Real estate investors who invest in Leamington real estate benefit from the town’s strong economy, great quality of life and diverse investment opportunities. The next time you are looking for an investment property, consider Leamington and take advantage of everything this town has to offer.
If you would like to learn more about financing your investments in Leamington real estate, or simply need some additional information about the benefits of Leamington real estate investing, click the link below to book a free strategy call with our team at LendCity.
Leamington’s Geography and notable features
Leamington, located in Essex County, Ontario, has a population of 27,595 and is known as the Sun Parlour of Canada. Leamington got its nickname from the superior sunshine that the area gets throughout the year. Point Pelee National Park, the southernmost point in mainland Canada, is located in Leamington and draws visitors and tourists from all around thanks to its natural beauty and geographic significance.
Point Pelee Park isn’t the only attraction that brings people to Leamington. In fact, tourism is a significant contributor to Leamington’s economy. There are well-established cycle paths around the shore of Lake Erie that the city borders, providing tourists with a fun activity that allows them to explore the local area safely and comfortably. Leamington is also widely known as an important site for the migration of birds and monarch butterflies. Many bird watchers and butterfly enthusiasts come to Leamington every year to observe migrating groups as they pass through the town.
Leamington offers a variety of transportation options for residents, including access to major roads and highways as well as public transportation. The roads in Leamington feature well-maintained sidewalks and bike paths to provide pedestrians, cyclists and motorists with safe and reliable transportation options. Leamington Transit provides bus service on a regular route that drives through the major commercial, industrial and residential areas in Leamington. During the summer, an additional bus route runs through Erie Street up to the Leamington Municipal Marina where it carries passengers to enjoy summer recreation.
Industry and economy
Leamington developed a reputation for its produce output and eventually earned the nickname the Tomato Capital of Canada. An H. J. Heinz factory was built in Leamington in 1908 and continued to provide vital employment in the town for over a hundred years. Today, Leamington continues to be renowned for its agricultural production and has the highest concentration of commercial greenhouses in North America. In addition to tomatoes, Leamington also produces cucumbers, peppers and roses. Since recreational cannabis was legalized in 2018, has developed a booming cannabis industry. The largest marijuana greenhouse operation in Canada is located in Leamington, providing the area with a significant source of revenue and employment.
While Leamington might be best-known for its agricultural contributions, Leamington is also home to several additional industries. The manufacturing sector in Leamington, which includes food processing, welding and fabrication, is known for being innovative. The development of Leamington’s manufacturing sector has contributed to the establishment of a specialized network of businesses and suppliers in the area.
As mentioned above, Leamington has a thriving tourism industry based on the town’s scenic beauty, bird and butterfly migrations and local events and attractions. There are many tourism-related businesses in Leamington that cater specifically to people who visit the town every year. While tourism had been affected by the COVID-19 pandemic, this sector has been making a steady recovery since restrictions have been lifted. There are a variety of exciting things for tourists to do in Leamington, no matter what time of year they make the trip.
Health care is another major industry in Leamington. Leamington is home to several well-known medical institutions surrounding the Leamington District Memorial Hospital. There is a cluster of facilities surrounding the hospital that offer world-class medical services, including emergency care, specialists and physical therapy.
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Residential Leamington Real Estate
One of the great things about investing in Leamington is that it’s possible to purchase a home for a relatively low price. The median asking price for Leamington homes is $512,000, a figure that has increased by over 40 percent since last year. About 72 percent of people in Leamington own homes, while 28 percent of the population rents. This ratio of homeowners to renters indicates that Leamington is a stable place to invest, with a solid foundation of homeowners who have committed to living in the town.
Business opportunities, investment and economic development
In Leamington, businesses, investors and entrepreneurs are encouraged to become a part of the town’s growth. Through incentive programs and municipal support, Leamington seeks to bring attract new investment to support continued development. Leamington’s Economic Development Office works with small businesses and investors to minimize hurdles in the development process and get projects and investments on the right track with as little delay as possible. Among other things, the Economic Development Office assists businesses with licensing to eliminate the confusion of the process and speed up approval.
Leamington incentivizes beneficial investments in the town by providing grant funding for certain projects as part of the Community Improvement Plan. The grant funding is reserved for maintenance, rehabilitation, development and redevelopment and it is primarily intended to add residential and commercial space in the town. This program allows investors to recoup some of the money they spend on development and rehabilitation in Leamington to maximize ROI on projects.
Invest in Leamington Real Estate
Leamington real estate offers investors the ideal place to grow and expand with a variety of opportunities to meet virtually any set of preferences and needs. No matter what you’re looking for in a new investment property, there’s something for everyone in Leamington. Take advantage of the town’s sophisticated development plan, booming industries and fantastic quality of life by investing in a Leamington property to put in your portfolio. With such incredible growth potential, investors have a lot to gain from strategic investments in the Sun Parlour of Canada.
Leamington Real Estate Professionals
We have searched high and low for real estate investing professionals in Leamington. Below, you can find professionals we have researched and can confirm they specialize in working with Leamington Real Estate Investors.
To ensure the maximum success investing in Leamington real estate, 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 Leamington real estate professional and would like us to consider adding you to the list, please contact us.
Real Estate Agent
If you would like to learn more about financing and investing in Leamington real estate, click the link below to book a free strategy call with our team at LendCity.