Why a New Aquarium Will Increase Your Toronto Housing Value

Toronto is one of the world’s top cities to work, live, and play in. Statistically, Canada’s most trafficked man-made tourist facility is obviously the CN Tower. With tourists consistently shuffling in and out of Toronto every year, the city is working hard to keep its attractions more appealing for future visitors as well as to increase the value of Toronto Housing for its residents.

Recently, Ripley Entertainment has taken on Toronto as its new venture building a 14,000 square meter aquarium. Situated at the foot of the city’s infamous CN Tower and nearby entertainment district, the aquarium is likely to attract a guaranteed audience due to Toronto’s already populated waterfront. Being the first branded attraction since the Hockey Hall of Fame installation in 1993, the aquarium will be built in two phases and estimated to be complete in the next three years. Alongside the new aquarium, Ripley also plans on building a 4,353 square meter restaurant and retail complex located on the CN Tower’s west side.

The  new aquarium will bring new tourists and more residents to the city. Also with the help of a new restaurant and retail complex close to the aquarium, the city will be able to provide more jobs contributing to Toronto’s overall economy; and with Toronto being a gateway to the rest of Canada, the city’s tourism estimates that at least 50 million people will stop in the province’s capital by 2020. Tourism Toronto is working long hours to ensure that the popular tourist destinations are posted all over newspapers, the Internet, and on television and radio. In order to accommodate the two million tourists shuffling in and out of Toronto each year, the new aquarium will be more appealing to visit and easily accessible to visitors because of its convenient location. David Whitaker, President and CEO of Tourism Toronto, believes that building a new aquarium will give the city a more diversified look and enhance Toronto’s reputation as a more desirable destination to visit.

As far as real estate is concerned, Toronto’s housing economy is showing significant progress compare to other major cities outside of Canada. Having a new, major attraction built at the city’s center will cause nothing but a boom in the housing district since it will appeal to other Canadians looking to migrate and tap into buyers from the international market. Home buyers nowadays are also looking into buying something more practical when it comes to size and location. Torontonians are becoming more environmentally conscious too, trading in their suburban mansions for a more modest quality of life. Having a smaller home also requires less maintenance, splits bills in half and eliminates unneeded possessions; maximizing the potential of a comfortable living space reduces waste, saves energy and gives individuals more time to explore everything the city of Toronto has to offer.