Eastern Ontario
Peterborough
Rank: 26
Universe: 5,909
Vacancies: 1.0% ↓
Rents: $936 ↑
City at Eastern Edge of GTA Offers Beats Job Losses, Offers New Stability
Located northeast of the Greater Toronto Area, the city of Peterborough has thus far avoided becoming a bedroom community serving Toronto’s urban sprawl. However, its distance may have isolated it economically.
Peterborough’s manufacturing base no longer dominates the economy, with government and education institutions acting as six of the city’s top eight employers. To address Peterborough’s economic development, the provincial and federal governments have taken steps to try and improve Peterborough’s transportation connections with the Greater Toronto Area, increasing the number of people commuting to work elsewhere. A new commuter train and an extension of Highway 407 are planned but are still years away.
Peterborough’s apartment market is recovering from its sharp downturn in 2009. Volatility may remain while the city works through its new supply, and as the city develops more economic connections with the GTA. Investors should continue to approach this city cautiously, but long-term investments may reap rewards.
Market Outlook
- Larger owners will continue to dominate the market, limiting buying opportunities.
- Growing senior demographic presents opportunities for repositioning in that area.
- Potential for student housing exists around the university.
INTERESTED IN NEW APARTMENT CONSTRUCTION IN THIS REGION? FILL OUT THE FORM BELOW TO REQUEST THE RECENT TRANSACTIONS.
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Mansoor KazerouniGlobal Director BuildingsIBI |
Mansoor Kazerouni is an Architect with over 27 years of experience and a significant portfolio of projects completed or underway across Canada, the United States, the UAE, Jordan and India. These include high density high-rise residential buildings, hotels, office, retail, institutional, and complex urban mixed-use developments. A number of these projects have been nominated for and received Urban Design and Architectural Design awards.
Mr. Kazerouni is the Global Director of Architecture at IBI Group, leading a team of over 1,400 Architects, designers and Engineers located in 60 offices worldwide.
Mr. Kazerouni has been a guest lecturer on the subject of architecture and mixed-use design at universities, conferences and various panels. He has also been interviewed on the subject by newspapers, architectural publications, television and other media.
Mr. Kazerouni's abilities and expertise in his field have been recognized by his appointment to the City of Mississauga's Urban Design Advisory Panel, the City of Markham’s Urban Design Advisory Panel and the City of Vaughan's Urban Design Advisory Panel. He is also a past Advisory Board Member of the Urban Land Institute, a member of the Ontario Association of Architects, the Alberta Association of Architects, the Nova Scotia Association of Architects, the Architects Licensing Board of Newfoundland and Labrador, and a member of the Royal Architectural Institute of Canada. He has testified as an expert witness at the Ontario Municipal Board and at Arbitration Hearings related to development sites.
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Darryl McCullough CCIM SECBroker - Royal LePage Lakes of Muskoka Realty Inc., BrokeragePresident - Crescent Equity Management Inc. |
Since 1972, I have been given the opportunity to interact with seasoned partners and clients in structuring and organizing both simple and complex real estate transactions involving acquisition, disposition, finance, and consulting in Canada and throughout the United States. It has trained me to bring a unique, personal client-centered approach to each assignment, from simple to complex transactions and the diverse clientele who own them.
In 1984 I received the Certified Commercial Investment Member, CCIM, designation (www.ccim.com); an internationally recognized identity confirming amortized knowledge in the disciplines of investment, development etc.
Another prominent membership I thankfully am able to continue holding is with the U.S. based Society of Exchanges Counselors (www.secounselors.com). This organization shares my belief in pursuing and demonstrating problem solving techniques in the real estate industry based on proven principles of integrity, professionalism, and accountability. Through this organization I continue to dedicate myself to what is true in the discipline of real estate problem solving.
Technology coupled with a learned research and analytical skill set now allows me to carry out these functions with selected projects from my adopted Muskoka home.
I continue to maintain an ever changing “student” learning status not only related to the physical asset, but equal or more importantly, drawing out corporate/personal situations and objectives and then knitting together ultimate benefit packages based on creative solutions via time honoured formulas.
