TORONTO, Oct. 7, 2015 /CNW/ - A new low-rise housing development is being planned in the Township of King's Nobleton community. The project is anticipated to include single-detached homes.
The site, which is located at 92 Diana Drive is being developed by, Tercot Communities Limited, in partnership with Cityzen Development Group and Fortress Real Developments. The community is being developed in a manner which will increase walkability to amenities such as retail stores, public parks, schools, along with other facilities.
Ben Myers, SVP Market Research and Analytics with Fortress Real Developments, stated "We recognized the spike in demand in King Township in recent years, with nearly 425 home sales over the past 12 months, compared to the average level of approximately 175 over the past decade. Pricing for new single-detached homes has risen dramatically as well to $1.2 million on average in May, a 28% annual increase."
Joe Valela, Principal at Tercot Communities is leading the development and planning process. Mr. Valela has been involved in all aspects of the residential home construction business and has built subdivisions, condominiums and custom homes across the Greater Toronto and Southern Ontario areas for over 35 years.
"At Tercot, we pride ourselves in building sustainable and livable communities and this is why we chose Nobleton which is a rapidly growing sub-market in the Township of King," said Joe Valela, Principal of Tercot Communities. "The Nobleton community is growing and we look forward to bringing new, affordable and innovative housing options that will add value to this unique community for generations to come."
The Township of King is located 45 minutes north of Toronto and has a great number of public amenities such as parks, recreation and cultural facilities. The community is home to three arenas, Centennial Mountain Biking Park, and Cold Creek Conservation Area. The King Township Museum along with public libraries serve to benefit the current and future residents of the Nobleton community.
Tercot Communities is a multi-disciplined real estate development company with over 35 years of experience in the Greater Toronto and Greater Golden Horseshoe residential markets.
SOURCE Tercot Communities Limited
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