Markham's skyline is changing. Across the city, major residential developments are underway or in the planning stages, bringing thousands of new housing units to a municipality that has historically been dominated by low-rise homes and suburban neighbourhoods. From master-planned communities to mixed-use towers along the Highway 7 corridor, these projects are reshaping what it means to live in Markham.
Here's a look at the most significant condo and housing developments happening in Markham in 2026, and what they mean for the local market.
Union Village — A Master-Planned Community on the East Side
Union Village, located near 14th Avenue and Donald Cousens Parkway in east Markham, is one of the largest new community developments in the region. The project is being developed as a master-planned neighbourhood that will include a mix of detached homes, townhouses, and stacked townhomes set within a design inspired by traditional village architecture.
The development emphasizes walkability, green space, and community amenities. Plans include parks, trails, a community centre, and retail space within the neighbourhood. Union Village is designed to feel like a self-contained community rather than a typical suburban subdivision — a model that reflects growing demand for walkable, mixed-use neighbourhoods.
Pricing for Union Village varies by unit type and phase, but early releases have attracted strong interest from families and first-time buyers drawn to the combination of new construction, relatively lower price points compared to central Markham, and the promise of a complete community infrastructure.
Springwater — Net-Zero Homes Setting a New Standard
The Springwater development is making headlines for its commitment to sustainability. This community is among the first in the Markham area to feature net-zero energy-ready homes — residences designed to produce as much energy as they consume over the course of a year.
These homes incorporate high-efficiency insulation, triple-pane windows, heat recovery ventilation systems, and rooftop solar panel readiness. For buyers who care about environmental impact and long-term energy savings, Springwater represents the future of residential development in Ontario.
The project also includes conventional homes and townhomes at various price points, making it accessible to a range of buyers. The net-zero homes carry a premium, but the long-term energy savings and increasing market demand for sustainable housing make them an attractive investment.
CF Markville Redevelopment — From Mall to Mixed-Use Hub
One of the most transformative projects in Markham is the planned redevelopment of CF Markville, the major shopping mall at McCowan Road and Highway 7. Cadillac Fairview has been planning a significant mixed-use redevelopment that would add residential towers, office space, and public amenities to the existing retail complex.
The vision is to transform the mall site from a single-purpose retail destination into a complete urban hub — a trend that's playing out across the GTA as traditional shopping centres adapt to changing consumer habits. If fully realized, the redevelopment could add thousands of residential units and create a new mixed-use neighbourhood in the heart of Markham.
Details and timelines continue to evolve, but the project reflects a broader shift in how Markham is planning for growth: densifying existing commercial centres rather than expanding outward.
Highway 7 Corridor — Towers and Transit
The Highway 7 corridor between Warden Avenue and Markham Road has been designated as a key intensification area in Markham's official plan, and development is accelerating. Several high-rise and mid-rise condo projects are either under construction or in the approvals process along this stretch.
The appeal of the Highway 7 corridor is its transit connectivity. The Viva rapidway provides dedicated bus rapid transit service along Highway 7, and the corridor is being planned for future higher-order transit. For condo buyers and investors, transit-oriented development typically holds its value well and attracts both end users and renters.
New towers along the corridor range from 15 to 35+ storeys and typically include a mix of one-, two-, and three-bedroom units. Pre-construction prices vary widely, but the corridor remains competitively priced compared to similar transit-oriented developments in Toronto and Vaughan.
Box Grove Community Housing — 153 Affordable Rental Units
Not all new development in Markham is market-rate. The City of Markham and York Region are advancing the Box Grove community housing project, which will deliver 153 new rental units designated as affordable housing. The project addresses a critical need in a city where rental vacancy rates have been tight and housing costs have risen steadily.
The development will include a mix of unit sizes suitable for singles, couples, and families, and will be managed to maintain long-term affordability. For Markham's essential workers, newcomers, and residents on fixed incomes, projects like Box Grove are essential to maintaining the city's socioeconomic diversity.
Market Context: What Buyers Should Know
Markham's real estate market in 2026 is in an interesting position. After several years of rapid price growth followed by a correction, the market is showing signs of stabilization. Key indicators to consider:
- Median home price: Approximately $1,042,500, reflecting a diverse market that includes detached homes, townhomes, and condos.
- Market balance: The sales-to-new-listings ratio (SNLR) sits around 41%, which leans toward buyer territory. This means buyers have more negotiating power than they did during the peak market, and there's less pressure to make rushed decisions.
- York University Markham Campus: The new York University campus in Markham is attracting students, faculty, and support services to the area, which is expected to drive demand for both rental and owned housing in the surrounding neighbourhoods.
- Pre-construction opportunities: With the market in a buyer-leaning phase, pre-construction pricing on several developments is competitive. Buyers who purchase now may benefit from price appreciation by the time units are completed and occupied.
What This Means for Markham Businesses
New housing means new customers. Every residential development that comes online brings hundreds or thousands of new residents who need restaurants, medical clinics, salons, gyms, tutoring centres, and every other local service. For Markham business owners, tracking where new developments are happening can help you plan for growth, whether that means opening a second location, expanding your delivery area, or increasing your marketing in newly populated neighbourhoods.
The transformation of Markham's housing landscape is creating opportunities for businesses across every sector. Staying informed about what's being built — and where — gives you a head start on capturing the new demand.
Discover businesses and opportunities across Markham at markhambusiness.com.