Local Development - Shoppers City East
Things are about to get a whole lot livelier around Ogilvie and Blair roads.
That’s a good thing if you favour the boost that such an increase in area amenities tends to bring to property values. But there are also some who are concerned about increased traffic overloading busy roads.
Yes, there is reason to be concerned, particularly with the relocated Costco big box retailer coming to Shoppers City East. It was enough of an issue that Beacon Hill-Cyrville Councillor Tim Tierney sought – and got – assurances from developer Trinity Group that expected traffic patterns would be studied thoroughly both before and after construction in an effort to minimize the impact.
But there is also much benefit in having both the revitalized retail complex and a destination outlet like Costco. (You can see the latest version of the site plan and tenants here.) The plaza brings jobs to the community, which in turn makes the community attractive to live in.
Add to that the plans for phase two of the Confederation Line to soon bring Light Rail Transit to Blair Station and the mixed-use development set to transform the area around Silver City and it’s clear that development in the area is booming. And that’s a good thing. A recent study by the University of Washington showed that contrary to popular belief, higher neighbourhood density has a positive effect on the value of single-family residential properties.
That means that for established residential neighbourhoods nearby, all this buzz increases interest in properties, potentially making it a good time to both buy and sell.