Ontario is the second largest province in Canada and always growing because of its high quality of life and economic opportunities. The city will need to develop rapidly to meet the never-ending increase in population. Here are some of the most needed development projects that will bring in huge profits for investors.
Housing
Ontario is facing the worst of the Canadian housing supply crisis. Canada has the lowest housing supply per capita rate in the G7. In January of 2022, it was estimated Ontario needed 650,000 more houses to catch up to the average housing supply in other provinces. This figure would just be to support the current population. Ontario is currently behind on its goal to build 1.5 million homes by 2031 to support its growing population. Housing is the chief issue the government is facing while Ontario is growing, but bottlenecks are likely to leave this goal unrealized.
Housing is the leading development projects opportunity for investment. If you’re interested in getting involved, reach out to us!
Infrastructure
In Ontario's official plan for growth, the thing mentioned most is infrastructure. Infrastructure is a broad category, so here is what the plan mentions specifically for Ontario's development:
Traffic congestion control
Improved resistance to severe weather caused by climate change
Renewal and modernization of aging infrastructure
Increased public service facilities
All these infrastructure projects were selected to support Ontario and its growing population. Traffic congestion can cause billions of dollars in lost GDP each year and frustration in the population. Ontario is also seeing worsening weather patterns each year caused by climate change. Renewing old infrastructure to support these weather patterns brings Ontario into a new, modern era. This modern era will also be supported by an expansion of public services.
While there is a large opportunity for investors here, the capital needed to get involved is high and success would depend on partnerships.
Age-inclusive development
The official plan for the growth of Ontario states that, by 2041, people over 60 are expected to make up 25% of the population. Because of this, one of the province's priorities is age-friendly development. This includes a “more appropriate range and mix of housing options, easier access to health care and other amenities, walkable built environments, and an age-friendly approach to community design that will meet the needs of people of all ages.”
These development projects are opportunities for investment and Regalway Homes can make the right introductions. Get in touch now by clicking through to our contact page: reach out to us!
Natural environment protections
Ontario prioritizes protecting natural resources and ecology. The province’s plan cites the pattern of degrading air quality, water resources, and natural heritage resources as reasons to prioritize these protections. The Greenbelt, including significant natural features like the Oak Ridges Moraine and the Niagara Escarpment, will be protected and enhanced in perpetuity.
This type of development is usually overseen and maintained internally by experts. This is not a good opportunity for investors.
Healthcare
Ontario also plans to create a healthier society by increasing ease of access to health care and an increase in access to healthy, local foods. They say supporting environmental protections and local farming in the province will increase individual well-being and health while supporting the farming industry.
Not only is this a possibility for investing, but this could be an area of opportunity where development projects continue to grow. Getting involved now could lead to many more opportunities. Click through to talk with us further: reach out to us!
To start investing in Ontario's development, book a consultation with an investing expert at https://www.regalwayhomes.com/bookings-checkout/real-estate-investment?referral=service_list_widget.