Bradford West Gwillimbury is open for business in real estate and land development. Significant opportunities exist for new developments in both residential and commercial real estate.
Projecting strong growth in population means that about 7,500 new residential housing units will be needed within 15 years. At present, projects have been approved for 3,000 units. The builders include Brookfield Homes, Great Gulf Homes and Metrus Developments.
For commercial real estate development, industrial lands will soon be available bordering Hwy. 400 offering a prime location for speedy access to the Toronto area and beyond. Hwy. 400 is a six to ten-lane highway connecting directly to major markets in southern Ontario and the United States.
Competitive Costs
The Town has just reduced its development charges for residential construction. Effective in November 2009, the new charges, with previous charges in brackets, are as follows:
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For a detached single-family dwelling on
fully serviced land: $28,827 ($31,341)
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For commercial/industrial developments,
$101.40 a square metre ($117.33)
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These charges are much lower than in jurisdictions to the south.
Other competitive costs include:
- Industrial land values are approximately $150,000 to $200,000 an acre for serviced land.
- Building lease rates range from $8.00 to $12.00 a square foot.
- Municipal property tax rates are highly competitive with those levied in the Greater Toronto Area.