Vaughan's just killing it. Avison Young’s Matt Gunning tells us several big developments there are propelling the entire Toronto North submarket, and transit is playing a big role. Toronto and Region Conservation Authority took 62k SF at 101 Exchange Way, and Holcim Canada leased 46k SF at 7300 Keele St—both existing projects. Meanwhile, Liberty Developments is building 135k SF of office space at Centro Square (7777 Weston Rd), and construction has started on KPMG Tower at the Vaughan Metropolitan Centre. “We could see more development start even before these two are delivered," says Matt.
Vaughan’s allure is all about connectivity, Matt explains. The burgeoning burg sits at the junction of several major highways; it will soon have a TTC subway station at Highway 7 and Highway 400, the northern terminus on the University-Spadina line extension; and work just finished on the Vivanext rapid transit line connecting Vaughan to Richmond Hill and Markham. For major tenants like banks or insurance companies, the ones that "dictate new construction projects," sustainability and transit are key, notes Matt. “So that puts this node in such a good spot for the next 10 years.”
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