Hot Neighbourhood Alert: Riverside South
With 2018 coming to a close, I have been thinking back on some of my favourite transactions of the year. I live downtown and much of my work is focused around the core, but one of my favourite neighbourhoods to travel to this year has been Riverside South. I worked with multiple clients on both new build and resale homes in Riverside South, including a few close friends buying their first homes.
Growing up in Barrhaven, Riverside South was not yet on my radar. It’s one of the newest established neighbourhoods in Ottawa, with developments starting in the mid 90s, becoming part of the city in the early 2000s.
Even though it was home to some great developments, public transit was tricky, and driving routes to get to Riverside South weren’t incredibly convenient. Nowadays, this part of Ottawa is very accessible by car and public transit, and has its own shops and conveniences. Since the bridge (Vimy Memorial Bridge) linking Riverside South to Barrhaven was finished in 2014, the neighbourhood has been increasingly popular. Transit is only going to improve with the introduction of Ottawa’s LRT.
Something I find exciting (and at times, challenging!) is that builders for new development can’t seem to keep up with demand for the area. Townhouses are usually reserved around a year and a half in advance and new phases are selling out pretty quickly. Luckily, a few launch dates are nearing - Urbandale and HN Homes are both releasing the next phases of their 2 storey townhomes within the next few weeks.
This year I have seen the area become very popular with first-time homebuyers, young families, and investors. Sale prices are reasonable and it’s an exciting new neighbourhood to get into, as there is enough land for decades of development.
Future Plans for Riverside South include …
LRT Station in community core, expected 2021
French Catholic Elementary School, expected Fall 2019
Community Recreation Centre/Library, expected 2022
