As investors in the Region, we are very pleased with the recent announcement that General Motors (GM) will be reopening their assembly plant in Oshawa and investing $1.3 billion to retool the plant that was previously shutdown in 2019. According to Jerry Dias, Unifor’s national president, the reopened plant will bring between 1,400 and 1,700 jobs, replacing most of the 3,000 jobs lost in December 2019. This investment, along with GM’s new Autonomous Vehicle Test Track, will position GM and Durham Region as key players in advanced mobility in Ontario.
While Oshawa has long been known as the Automotive Capital of Canada, and will continue to maintain a strong automotive sector with this latest investment, the City, and more broadly Durham Region have in recent years focused on strategic planning and initiatives to attract new investments, diversify their economy and support job growth.
Recent announcements include an agreement reached with Amazon to build two Amazon fulfillment centers in the Region. A one million-square-foot distribution facility with 1,000 new jobs in the Town of Ajax and a 354,000 square foot facility in the Town of Whitby, with hundreds of full and part-time jobs.
In June 2019, Ontario Power Generation (OPG) announced it will build a new Corporate Campus in the Municipality of Clarington. The campus, expected to complete in 2024, will house the company’s corporate headquarters, in addition to renewable generation and nuclear staff; bringing more than 2,000 jobs to the area.
Infrastructure investments extending transit connectivity to the Region are also planned. Early in 2020, Metrolinx Board of Directors endorsed the GO East Rail Extension through Oshawa to Bowmanville in Clarington, featuring four new station stops – two located in Oshawa, and GO stations in both Courtice and Bowmanville, which are expected to drive economic revitalization in several key areas, while supporting active transportation within the communities. According to Metrolinx, this investment is expected to have a positive economic impact on the communities for the next 50 years.
Durham Region, which makes up 9.3% of the GTHA’s total population, has been steadily growing. The population has nearly tripled since 1976, and more recently grew 8.4% from 2016 (645,8260) to 2019 (699,460) putting it well on its way to a forecasted population of more than one million people by 2041.
With Greybrook’s first housing development in the Region, Orchard West, nearing completion and in the final stages home occupancy, and other sites in active development, we are thrilled to be a part of Durham’s growth and continue to actively seek new investment opportunities in the Region.
Get in touch to learn more about upcoming investment opportunities.
Greybrook Securities CEO Sasha Cucuz recently joined fellow industry leaders to tackle the economic pressures shaping the future of Canadian housing. Speaking at the Veritas 14th Annual Great Canadian Real Estate Conference, Cucuz participated in a highly anticipated panel discussion…
Listen to this article: It is difficult to find a market conversation today that does not eventually lead back to interest rates. For Canadian advisors, there are particularly good reasons to be paying attention. U.S. Treasury yields have moved materially…
Last season, Greybrook became the first-ever lead sponsor of York Lions Men’s Hockey. This year, extending that support to the women’s program was a natural next step and reflects something we believe deeply: sport shapes future leaders. It is an…
Greybrook team members rode in support of the 7th Annual Velo Blu Charity Bike Ride in Niagara-on-the-Lake, helping raise $270,000 to advance research into rare childhood diseases and gene therapy through the Blu Genes Foundation. Held at the scenic Peller…
On Sunday, September 20, Greybrook joined runners, walkers, volunteers and community supporters at the 17th Annual Constantine Yorkville Run, coming together to raise funds for charities making a difference across Toronto. As a Presenting Partner, Greybrook was proud to once…
Members of Greybrook’s Institutional Capital Markets team recently attended and sponsored Future Proof Festival, the world’s largest four-day wealth management festival, held in Huntington Beach, California. As part of its sponsorship, Greybrook supported the QWealth Canadian Lounge, a dedicated gathering…
Lindsay Heights, our low-rise, master-planned community in the City of Kawartha Lakes, is set to welcome one of its most anticipated neighbourhood retail additions with the opening of a Walmart Supercentre. Located at the northwest corner of Lindsay, at Highway…
This advancement marks a significant milestone for Florida’s first supertall Downtown Miami residence, a signature hallmark of the renowned Waldorf Astoria brand, offering a collection of 205 luxury hotel guestrooms, dedicated five-star service and once-in-a-lifetime experiences. Construction of the staggered…
Listen to this article: The best time to buy durable assets is rarely the moment they feel comfortable to buy. In multifamily, rent growth tells you where a market is today, but the conditions that signal where it is heading…
Dallas-Fort Worth has been one of the most closely watched multifamily markets in the United States over the past several years. Long-term population and employment growth, rapid corporate relocations, relative affordability and a deep, diversified economy have helped draw a…
