Ontario’s Minister of Transportation Caroline Mulroney reiterated the province’s plan to spend $61 billion on public transit and $21 billion on highway expansion over the next ten years. Most of the projects have already been announced, with work getting started on planning and RFPs. Tembo would like to outline what the big ticket items are. Property values and opportunities along the corridors where these projects will be built will increase. With rates going up bank scrutiny and borrowing costs will go rise, Tembo can help you with a second mortgage for a deposit on property or land along:
Highway 413. Western Peel region will get a highway linking King City west along the northern edge of Brampton down to the western edge of Mississauga. This will be the biggest highway expansion project in Ontario in a generation. Much of the land that will benefit from the highway lies outside the Greenbelt and is low density. Property development and opportunities along this belt will be significant. A PC win in the upcoming election will guarantee this project. A Tembo second mortgage for a deposit on homes in southern Bolton, eastern Georgetown, or northern Brampton would be a good move in light of this huge project.
Caledon-Vaughan GO Line. This will be a big expansion of the GO network linking north-west Toronto, Woodbridge, Vaughan, Kleinburg, and terminating at Bolton in Caledon. We have no details on timelines or costs except for a strong commitment to go ahead. The line is well justified by the rapid population growth along the corridor and the need for road alternatives. The line will see increased densification, so think townhouses and small scale condos that will be sprouting up along the way.
Subway to Richmond Hill. Doug Ford has been a big supporter of extending the subway stop at Finch to Richmond Hill centre some kilometers north. The province’s plan makes mention of finally proceeding with this, with construction expected to conclude in 2031-32. The condo proliferation that came out of the Sheppard line and north Yonge line will stretch out northward to Richmond Hill when this line is completed. A second mortgage from Tembo can help you explore your options in this hot real estate corridor.
These are just a few of the opportunities that a Tembo second mortgage can help you take advantage of in the GTA. Take advantage of your increased housing equity to consolidate your debts, pay down liabilities fast, and simplify your debt payments – please visit www.tembofinancial.com and give us a call at 1-844-238-6717!