If anyone has been to the Rivertowne development b/w queen and dundas just off Broadview you'll know the answer is absolutely YES! Here you've got a group of townhouses with one side of the street as owned Condos and community housing in the other. The condo side is manicured and residents obviously take care of their properties while the other side is overrun with weeds, 10 different satellite dishes anchored to the side of each unit, 10 bikes strewn on each lawn etc.... Looks absolutely terrible. Units at Rivertowne take on average 100% longer to sell at prices severely below the neighbourhood average. Same can be said for other mixed housing developments in the city.
However I do believe this concept can work in a condo building where certain units are designated for community housing. Walking down a condo hallway you wouldn't be able to tell the difference and likely wouldnt impact values there.
If I had the choice I would look elsewhere but sometimes these homes close to community housing can offer more affordable options that you can't find anywhere else. If I was a first time buyer and this was the only option for me I may jump in and make the purchase just to get my foot in the door but only if it was a newer development in a good neighbourhood like Rivertowne.
Anyway, there are many factors to consider regarding community housing but I'm sure your sales rep or brokert can walk you through it.
Ara Mamourian - Broker of Record/Owner
Spring Realty Inc., Brokerage
Www.springrealty.ca416-628-1088
Ara@springrealty.ca
