Growth forecasts are really interesting. There is so much that goes into producing these graphs and figures, and so many individuals base EVERYTHING on them.
Today I want to talk about Mississauga growth forecasts – YES, they exist AND they’re in the public domain!
So what information do they provide? The forecasts were actually completed in 2008 and they provided population, housing and employment forecasts from 2008 to 2031. A little bit of a note here because the City does make certain assumptions (this is really the case with ANY forecasts).
“This forecast represents a high growth scenario and accounts for a greater compact form through intensification and redevelopment and assumes a stronger demand for higher density forms. This forecast is based on the 2006 Census of Canada results.”
So what? Why does this even matter to me? Well, if the City has forecasted growth, then that’s a good thing! It must also mean that it WANTS more residential activity. It WANTS more density. It WANTS a larger population and so therefore is PLANNING for a larger population. A larger population also means more commercial activity, which will stimulate the local economy. All in all, it’s an AMAZING thing.
So let’s get to the nitty-gritty. WHERE exactly is the City forecasting its biggest growth areas? This is what their report had to say:
“Almost 70% of the growth in the City will be concentrated in five planning districts: City Centre, Cooksville, Central Erin Mills, Churchill Meadows and Hurontario. Growth in these districts will come from availability of vacant land for residential development as well as infill higher density residential development.”
How cool is this? Now check this out – some areas that they forecast a DECLINE in population:
“Some of Mississauga’s planning districts have very little vacant land for development with few opportunities for infill development or redevelopment. These planning districts will experience some population decline as a result of smaller house-hold sizes anticipated over the course of the forecast period. These patterns are reflective of a community reaching a state of maturity. These districts include: Malton, Erindale and Meadowvale.”
Think of it from an investment standpoint. If you are even contemplating investing and you’re of the “buy and hold” school of thought then everything that is mentioned makes a lot of sense. We’re already witnessing TWO neighbourhoods with an increase in density – Churchill Meadows AND Central Erin Mills. Churchill Meadows currently has TWO developers selling brand new homes.
Both of these neighbourhoods intrigue me so much because, compared to other parts of Mississauga, there’s still a LOT of land to build on. They both share amazing amenities and have quick access to the highway system (403). It’ll be fascinating to see what happens next.