Population Growth and Economic Outlook
St. Catharines, the largest city in the Niagara Region, is anticipated to experience substantial population growth, reaching an estimated 610,000 people by 2041. This projection represents a significant 28% increase from the current population. Additionally, the region is expected to create approximately 80,000 new jobs within the same timeframe. This population and employment surge will inevitably lead to a surge in housing demand, making it an opportune time for investors to enter the market.
Situated in the northern part of the Niagara Region, St. Catharines benefits from its proximity to the thriving tourism industry in Niagara Falls and Niagara-on-the-Lake. The city is conveniently located just off the QEW highway, attracting a large number of visitors. With over 13 million annual visitors, the region boasts an extensive array of amenities, including 150 hotels and motels, more than 90 wineries, over 40 golf courses, 2 casinos, and 40,000 jobs in the tourism industry. This robust tourism sector generates over $2.4 billion in annual spending, positively impacting the local real estate market.
Connectivity and Education
St. Catharines enjoys excellent connectivity with various transportation options available. The city is serviced by the QEW, Highway 406, Highway 81, GO Transit, Niagara Region Bus, four international border crossings, and three international airports within a 100 km radius. Furthermore, St. Catharines’ connectivity is set to improve further as GO Transit expands its service from St. Catharines to downtown Toronto’s Union Station, enhancing travel accessibility throughout southern Ontario.
Sphere Developments, founded by a team of industry leaders with a forward-thinking vision, distinguishes itself as a standout development company. With a dedicated focus on identifying and developing properties with enduring appeal, Sphere takes a comprehensive approach to home building.