The most important residential investment in Windsor
When I first set eyes on the dramatic renovation taking place on Ontario street at Devonshire Road in Old Walkerville, it shocked me. Perhaps it was the belief that predominantly bad real estate decisions happen in Windsor. I guess I’ve become accustomed to getting defensive in response to any changes in my ‘hood.
Yet I was fascinated that anyone would go to the extent these new owners were to a 100 year old house. This isn’t Toronto and it’s painfully expensive real estate, you know.
In posh Toronto neighbours like Leaside, it’s a common sight to see perfectly good, but small, century homes experiencing six-digit renovations, though they’re mostly tear-downs. In Windsor? We simply build our status objects in Amhertburg or Russell Woods. Not within the core.
We tend not to value core living in this city. In most cities, the land values get progressively more expensive the closer you get to he downtown. The thought behind this is that there are more amenities in a city’s core, justifying the hike in housing costs.
Yet in Windsor, the suburbs still rule the status hierarchy.
We’re a touch behind the times, I know.
This recent real estate development signifies a change in the mindset of residential developers. The folks investing upwards of $400,000 (on a property initially purchased for over $300,000) could have very easily spent their hard earned dollars in LaSalle.
Or Amherstburgh.
Or Russell Woods.
Instead they chose Walkerville, a neighbourhood I’ve known for years as having the most eye-catching housing in the entire region. Though I’m a bit of an oddball…
This investment signifies the return of upscale urban living. It implies that an investment in the ‘hood is a solid one, with a great potential ROI.
Something I’ve known for years.
Does it forecast the movement away from the Southwood Lakes of the city towards a city that values transit connectivity and pedestrian accessibility? I sure hope so, but I’m not going to get ahead of myself.
To me, it shows a level of comfort and sureity in this city’s established neighbourhoods. It tells me that Old Walkerville hasn’t lost its charm in the world of plastic raised ranch tract housing. It proves there is once again a confidence we haven’t seen in the core in a very, very long time.
It allows me to hope, again.
Tags: Real Estate, walkerville
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Now if only we can get this going in the surrounding downtown neighbourhoods we can then say Windsor is on the right path.
Until then….just one investment in a sea of hundres that need to be done. Hopefully it doesn’t get too screwed up.
If the owner reads this, just wondering what he is doing with the beautiful lead glass french doors? I would buy them.
I love that this renovation is done in a manner that respects the character of the neighbourhood. It’s inspirational.