Developers are showing increasing interest in Brampton’s downtown core, according to the city.
“Available land is only one of the reasons that downtown Brampton is now so attractive to business and investors,” Anthony Wong, Manager of the Central Area, said. “We are seeing major public investments in healthcare, education and amenities like Riverwalk.”
Brampton is already a popular and well-performing market, and with the increasing interest from developers it seems poised for even more growth.
The average price for a home in the city sold for $733,590 in May – that was up 31.7% from $557,009 a year ago.
Opening this month is the $530 million Peel Memorial Centre for Integrated Health and Wellness.
The city plans to build a sprawling health and sciences community around the centre, which will both create jobs and a surely spur further residential development and, indeed, interest from real estate investors.
Atlas Healthcare chose Brampton because it believes it’s an up-and-coming market.
City of Brampton Expeditor Paul Aldunate helped facilitate the building of the centre. He fills a newly created role that aims to work across all sectors and facilitate the cooperation of municipal services and the business community.
“We needed to find out the needs of this community and what the shortcomings were in order to better service the City of Brampton,” Domenic Trotta of Atlas Healthcare, said. “Through Paul’s role, he was able to bring this information to us, to help us better understand how our new medical centre can make up for these drawbacks, and play a role in providing better healthcare for Brampton.”
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