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New Condos Bowmanville
Why Should You Invest In Bowmanville Real Estate?
Bowmanville is a small town located in the Municipality of Clarington in Durham Region, just east of Oshawa, Whitby and Ajax. This is a quaint and charming community surrounded by peaceful nature and stunning architectural heritage buildings that date as far back as the mid 1800’s. Bowmanville is now considered a rapidly growing town with many new residential and commercial developments.
This town is getting ready for its expected population increase by working on new redevelopment projects that will make this area a convenient place to live. In the next five years, the community will invest billions of dollars represented by housing growth, completed infrastructure projects, newly constructed facilities and the creation of over 4,000 jobs.
Bowmanville’s economy is known for its clean energy with Durham Region being named the Clean Energy Capital of Canada. It is also known for its automotive manufacturing services as well as other manufacturing services including textile/fabric, paper products, cement/concrete products and pharmaceuticals and medicine. The economy also plays a major role in the innovative technology sector and similar to its history, the area is still known for its agriculture.
Today, Bowmanville has a population of over 40,000 people and based on its growth trends and future projections, that number is expected to greatly increase in the future. Building permits in Bowmanville have increased throughout the last five years which means many developers are sending proposals to the town to build residential and commercial developments in the area. Although it is considered a small town, there are many family-friendly activities to do all year round here including conservation areas, ski hills, waterparks, Lake Ontario marinas and farmers markets.
Average Price of Real Estate in Bowmanville
The average price per square foot for all pre-construction home types, iin Bowmanville is $640. And the average pre-construction appreciation rate for the past 10 years has been 8.6%.
The average resale price for all home types in Bowmanville is approximately $659,363. In terms of historical price growth, the 10-year average resale appreciation rate is 9.7 percent.
Meanwhile, the average monthly rental rate for all home types in Bowmanville is approximately $1,600. The average rental vacancy rate is currently 0.7 percent, which shows there is a fairly tight rental market in the area. The 10-year average rental appreciation rate for this town is 4 percent.
Town of Bowmanville
Bowmanville is booming with many new project expansions underway. Toyota’s new Parts and Distribution Centre opened in Spring 2020. This new facility started construction in 2018 and recently began operations in its 350,000 square-foot facility that sits on 30-acres of land. This Toyota facility employed approximately 150 employees during the beginning of its operation. Meanwhile CannaPiece Corporation is creating a 4-storey cannabis production facility which is looking to bring over 600 jobs in the area.
In addition to these incredible new developments the East Penn Canada facility is relocating its warehouse, distribution centre and head office to Clarington’s Energy Business Park.
This company sells and distributes automotive and industrial batteries. It is currently in its first phase of development which will include an industrial warehouse with over 160,000 square-feet of space and over 30,000 square-feet of office space. Once completed, this company will bring 200 new jobs to Durham Region. Bowmanville will soon have many employment opportunities and commercial hubs, making it a great investment.
The Lakeridge Health Hospital is about to undergo a redevelopment project that will work on the expansion and renovation of the hospital. This expansion project will double the size of the hospital and will include expanded programs and services.
There are also many post-secondary schools in this area including Durham College, that is known as one of the country’s leading digital media schools, Ontario Tech University which offers an in-depth curriculum for information technology (IT), including gaming and software engineering and Trent University where students can pursue a degree in Bachelor of Arts and Science or take Innovative technology programs.
Durham Region has an emerging technology sector that includes many of Canada’s fastest growing technology companies. These companies are made up of post-secondary students, recent graduates and economic development professionals that came together to create an innovative community. Residents here will find many jobs available in the Information Technology sector with many more job opportunities in neighbouring communities including Oshawa, Whitby and Ajax.
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Accessibility / Getting Around
As Durham Region and more specifically, Bowmanville, start to grow more and more everyday, the area is starting to thrive with new housing developments, businesses and employment opportunities. It is becoming a vibrant and convenient community where people can live, work and play all in one area. As this town grows, the population will start to rapidly expand and with this comes the greater need to travel.
That’s why Metrolinx and the municipal government recently approved the Bowmanville Expansion project which will add four new stops from Oshawa GO Station to the future Bowmanville GO Station.
This new expansion project will bring faster and more convenient service that will reduce congestion and will connect people to places of employment and post secondary schools in Durham Region.
Additionally, this rail service will directly connect to the larger GO network, taking residents to Union Station in about an hour.
Drivers can also easily get around in this area with Highway 401 located just south of this town and Highway 407 just north. Using the 401 will connect drivers to the rest of Durham Region and to different parts of the GTA including Oshawa, Whitby, Ajax, Pickering, Scarborough, North York and Toronto. By using these series of highways, residents can reach North York in just 40 minutes or Downtown Toronto in just one hour. There are many ways to travel in this area, making it a convenient place to live.
List of New Condos in Bowmanville
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Questions & Answers
What kind of architecture can you find in Bowmanville?
This community has many heritage buildings that date back to the 1800s. Bowmanville officially became a town in 1858 when many settlers were attracted to the area for its farmland. The town eventually grew as more businesses started to open up throughout the 19th century. The streets are now lined with beautiful architecture and these heritage buildings are what gives Bowmanville its character.
What kind of jobs is Bowmanville known for?
There are many new commercial developments recently built or just underway to add to the amount of job opportunities in the area. Bowmanville is known for its automotive industry, medical and pharmaceutical and information technology.
How will public transit change in Bowmanville?
Metrolinx and the municipality of Bowmanville recently approved an expansion plan to create four new GO stations that will travel from Bowmanville, through Courtice to Oshawa Station, where the line currently starts. Commuters travelling on this future line will be able to reach Downtown Toronto in just one hour.