Randy Miller

Broker Of Record

Urban Avenue Realty Ltd., Brokerage

Whitby & Brooklin Real Estate

Office 905-430-1800

Direct 905-430-9444

Email: randy@randymiller.ca

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Highway 407 east extensionClick to enlarge

Once complete, the Highway 407 East project will help relieve congestion and support the efficient movement of people and goods through the eastern Greater Toronto Area and beyond. It will create opportunities for business, accommodate population and employment growth and provide emergency detour routes for Durham Region.

Hwy. 407 being extended across Durham Region

Provincial Transportation Minister Steven Del Duca, right, was in Oshawa on Tuesday, April 7 along with Durham Regional Chairman Roger Anderson, left, to announce the government has signed a $1.2-billion contract to extend Hwy. 407 easterly from Harmony Road to Hwys. 35/115 in Clarington. Work on the extension will begin in December of this year and be completed by 2020

Construction on extending the 407 from Brock Road in Pickering to Harmony is underway and is slated to be completed by the end of this year.   

Phase 2 will start in December of this year and will reach a north-south eastern link near Holt Road in Clarington, connecting Hwy. 401 and Hwy. 407, by December 2017. The remainder of Hwy. 407 east to Hwy. 35/115 will be open in 2020.   

In an interview Mr. Del Duca said he thinks this is an extraordinary opportunity and people and commercial goods will flow more smoothly.  

The 407 east from Brock Road in Pickering will remain in public hands and will be a toll road, he added.     Mr. Anderson praised the Province for moving forward with the extension east of Harmony.   

Mr. Anderson noted there are thousands of acres of land zoned commercial and industrial along the 407 that can be developed once the highway is in place.   

Mr. Del Duca said having the highway will create business and accommodate the growing population.    

He added the way the contract with Blackbird is structured, the company will cover any costs if the project goes over budget or the timeline isn’t met.   

Toronto is one of the only cities that doesn’t have a bypass, Mayor Henry said, and Hwy. 407 will give people (commuters) a different avenue to and from the city which will save people lots of time.

 The eastern link between the 401 and 407, running along Holt Road, will be called Hwy. 418.

Highway 407 East – Overview

The Highway 407 East project is comprised of three highways; these are Highway 407, Highway 412 (formerly known as the West Durham Link) and Highway 418 (formerly known as the East Durham Link).

Construction has started and will continue until 2020, when Highway 407 is open to traffic at Highway 35/115 in Clarington and the two connecting highways from Highway 407 to Highway 401 are completed. As announced, there is a seamless plan to extend Highway 407 from Brock Road in Pickering to Highway 35/115 with the following key dates:

By late 2015 – Phase 1 from Brock Road in Pickering to Harmony Road in Oshawa (22 kilometres), and Highway 412 (a 10 kilometre north-south highway that connects Highway 407 to Highway 401) will be open to traffic;

By 2017 – the initial portion of Phase 2 from Harmony Road to Taunton Road/Highway 418 will be open to traffic; and,

By 2020 – the remainder of Highway 407 (from Highway 418 to Highway 35/115) and Highway 418 (a 10 kilometre north-south highway from Taunton Road to Highway 401) are scheduled to open to traffic, completing the project.

Highway 407 is a separate entity owned and operated by the Province, connected to the existing 407 ETR. Initial tolls on Highway 407 will be lower than on 407 ETR.

Sources: - durhamregion.com, - http://www.highway407east.com/

Randy Miller

Broker of Record
Royal Heritage Realty Ltd.
Offices in Pickering and in Whitby

905-430-1800

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Quarterly Economic Forecast 2015

Here are the key highlights from the quarterly forecast:

-We continue to see the impact of lower oil prices play out in the Canadian economy. Lower gas prices expected to save Canadians households up to $800 in 2015

-$600 of that will be absorbed by the higher cost of imported consumer goods

-unemployment rate could reach 7% by the end of this year

-BOC expected to hold rates until the end of 2016- this will continue to drive a strong housing market!

-crude oil could hit a new low of $40US a barrel before landing in around $65US on average in 2016

-core inflations expected to be just shy of BOC's 2% target through 2015 and into 2016 

Click on the link below to read the full TD Quarterly Forecast:

http://www.td.com/document/PDF/economics/qef/qefmar2015_canada.pdf 

To learn more about local real estate market conditions in Whitby, Brooklin, Ajax, Pickering, Oshawa, Courtice and Bowmanville, please contact me. 

Randy Miller
Broker of Record

Royal Heritage Realty Ltd.
Offices in Pickering and in Whitby

905-430-1800


Post CommentComments: 0Read Full Story