CountryWide Homes breaks ground on new community

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Builder bucks the trend and forges ahead in Woodbridge 

The Canadian Mortgage and Housing Corporation predicted slower housing starts this year because of higher interest rates and financing challenges in its annual Housing Market Outlook released this past spring.

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That prediction underscores the significance of CountryWide Homes’ decision to break ground on the new Sora Vista community in Woodbridge. But choosing to forge ahead with 167 low-rise homes when about a third of new housing developments in the Greater Toronto Area is on hold wasn’t business as usual.

“There are three phases to this community,” says sales and marketing manager Richard Mariani. “If times were different, we probably would have opened in two phases but with market conditions being slow to absorb at most sites across the GTA or the country, we decided to break into three phases to allow for longer absorption from the general public and try to generate enough sales so we can have construction programs.”

The first phase of 53 single-detached homes opened in September 2023 and is almost sold out. The houses range in price from $2 million to $2.65 million.

“Buyers are coming from existing homes predominantly. They’re looking to upgrade so they’re coming with some equity from an older home that they’ve perhaps lived in for five, 10, 15-plus years and have outgrown.”

Features like 10-foot ceilings on the main floor and nine-foot ceilings on both the second floor and in the basement are among key features that have enticed buyers to move up instead of tackling a renovation.

Homes range in size from 2,400 to 3,400 square feet and are located on 42-foot and 45-foot-wide lots that are 115 feet deep. “Lots this big aren’t common in today’s new subdivision market,” says Mariani.

Another selling point is that floor plans can be fully customized to accommodate multigenerational living. A main floor optional library, for instance, can become a primary bedroom with an ensuite and living area. Elevators are another option. Some models have up to five bedrooms and bathrooms on the second floor.

While purchasers aren’t typical first-time buyers, “they’re still price sensitive, as anyone would be with interest rates going up 10 times throughout 2022-2023,” Mariani says.

“We allowed for nine-foot ceilings in the basements and a separate side door entrance with a service staircase that goes directly to the basement should someone eventually want a multigenerational family living in the same house with separate access.”

Buyers could eventually choose to finish their basement and use it as a rental suite – not unlike garden suites in some municipalities – as an additional source of income, he adds.

Sora Vista is located at Teston Road and Pine Valley Drive in the greater Vaughan area. “Research told us there is a demand for this area,” Mariani says, pointing to existing amenities that include transit, schools, retail and recreation. “The right price, the right location and the right finishes, features and designs was a perfect recipe that helped the success of our first 50 sales.”