The Much Reported Death of the Suburbs Will Prove to be Greatly Exaggerated
Another interesting article with bold predictions on where commercial real estate is headed in 2014 and beyond.
As much as this article has a slant towards the US commercial real estate market, there are components applicable to Canada, specifically the Greater Toronto Area, as well. In fact, some of the predictions line up perfectly with the trends we have seen in our previous blog post below.
For example, prediction #5 – “The much-reported death of the suburbs will prove to be greatly exaggerated” — the GTA West suburbs are alive and thriving! But as the article predicts the suburbs are indeed becoming much more urbanized and focused on transit and amenities. Sub-market areas like Airport Corporate Centre, Meadowvale, Hurontario Corridor, Oakville and Mississauga City Centre are becoming their own hubs rallying around accessibility and providing tenants alternatives with various highways and transit options. Some developers are leading the charge with a bold vision of retail focus on the ground floor and surrounding restaurant campus to create an urban feel.