Central Park in Hamilton is one of the largest master-planned communities in Canada
By Lucas on Jun 21, 2016
It was recently announced that Losani Homes has major plans for Hamilton. Their upcoming master-planned community, Central Park, will be one of the largest and most innovative master-planned communities in Canada.
There will be four phases of Central Park, all of which are named after iconic New York neighbourhoods. Phase 1, Park Ave., will be the heart of the community, located between Highland Road West and Rymal Road East, nestled next to the 78 hectares of greenery that make up the Eramosa Karst conservation lands.
Park Ave. will feature freehold townhomes and detached homes on lots ranging from 33’ to 50’, some of which will be located near Albion Park. The combination of Modern and Tuscan styles will make for vibrant streetscapes. This aesthetic is new for Hamilton, so Central Park will be unique.
The Modern Elevations will feature clean lines, flat surfaces, and interesting geometric elevations, while the Tuscan Elevations have more intricate detailing, arches, and stonework. Tuscan architecture is inspired by a mixture of modern and classic historical European designs. It’s refreshing to see a homebuilder using these desirable styles for the first phase of this outstanding master-planned community.
Since new home prices in the Greater Toronto Area (GTA) continue to rise steadily, Central Park offers a more affordable option as Hamilton is still in its infancy as far as its housing boom goes. If anything, Losani Homes’ Central Park marks the beginning of something truly big. Phase 1 is opening summer 2016, with prices starting in the low $300,000s.
As of the end of April, the average price of a new detached home in the GTA was $1,059,263. Clearly, many first-time buyers have been priced out of the new low-rise market in the GTA. Even Baby Boomers who are looking to rightsize have been looking to other areas to settle into their forever home outside the GTA, because they want to profit from selling their large family home.
Midtown, the second phase of Central Park, will feature a collection of three-storey urban townhomes. Soho, Phase 3, will feature six mid-rise condo buildings. Like Manhattan’s Soho, Hamilton’s will be in a highly walkable area with many shops, galleries, restaurants, and boutiques. Soho in Manhattan is even recognized as being a hub for artists, and it’s no secret that many GTA-based artists have been moving to Hamilton for more affordable studio space and housing. Phase 4, dubbed Madison, will feature two mid-rise buildings, as well as a selection of stylish urban townhomes. There will be a home for every buyer at Central Park.
Park Ave. is the only phase that will have detached homes, and there is currently a shortage of detached homes in the GTA. According to the Building Industry and Land Development Association (BILD), there is less than two months worth of new low-rise inventory in the GTA (as of April 30, 2016), which is nearly half the amount that was available a year ago.
Whether you see Central Park as your opportunity to enter the new home market, a great place to rightsize, or a smart investment opportunity, you should register right now. By registering, you will receive front of the line access for this exciting new home community. Become a VIP – Register Now at www.MyCentralPark.ca.
