It’s no secret that Collingwood and Blue Mountain are growing communities. It’s a highly desirable area in which to live and many people want to stake their claim and call it home.
Collingwood Today is an online news source in our area and this article talks about some of the growth we can expect to see in our area in the years ahead. But it is by no means the full picture.
The Town of Collingwood publishes a development map which was last updated almost a year ago. The 1700 units described in the article above are not even on that map which shows planning in process for another 4900 units bringing the total to more than 6,600 units in some stage of planning. That’s a lot of homes. It’s also interesting to note that multi-unit dwellings such as townhomes and apartments out number single-family homes by more than 3 to 1. It also does not include developments planned in the neighbouring Town of Blue Mountains which include thousands more units as can be seen on this map.
The reality is that Collingwood is one of the fastest growing communities in Canada. In 2017, the Province identified our area as a growth node and the Simcoe County official plan states that we must achieve a target population of 33,400 by 2031 and have a density of 50 people per hectare. The only way to do that is to abandon any notion of large lot subdivisions and instead, we are seeing new developments that have a mix of single family, semis, townhomes and apartment dwellings in their plans.
This has got me thinking. What is the actual market demand in the area and what are the absorption rates of so many new units? Are they building to the demand in the market place? How many people want a 3-storey townhome versus an apartment versus a single-family home? I imagine most prudent developers do their due diligence and market research before investing the huge dollars involved in bringing a development to fruition but then again, I’ve seen far too many in my 30-year career that stagnated because they missed what the market was looking for.
It will be a competitive environment for builders if many of these come online around the same time and they are going to have to dig deep to find out what their point of differences are and if they are responding to market demand.
Over the next few weeks, we’ll delve deeper into some of these plans in this series. I’d love to hear your thoughts.
Marg Scheben-Edey is a Broker with RE/MAX four seasons realty limited, Brokerage in beautiful Collingwood, ON. With three decades of experience, Marg is a leader in the local real estate marketplace and is ready to help guide both Buyers and Sellers in achieving their real estate goals. Email Marg