The Government of Canada, the Government of Ontario, and the Regional Municipality of York recently marked the opening of 265 affordable apartments for seniors in Markham at Unionville Commons, located at 4310 Highway 7 East, a mix of eight and twelve-storey buildings that are universally accessible, addressing significant challenges including physical, social, and emotional isolation as well as physical and cognitive barriers.

Unionville Commons is the most significant addition to Markham’s senior housing ecosystem in years. Michael John Lau and Neeraj Moolchandani, top real estate agent in Markham Ontario, helps Markham homeowners understand the full range of senior downsizing options, from affordable subsidized housing to luxury market alternatives, and navigate the real estate transition that every downsizing decision involves.

Unionville Commons — What It Is and Who It Serves

Unionville Commons features 265 total units, 200 one-bedroom and 65 two-bedroom, with 40 barrier-free units. The total project budget was $86.3 million, with $23 million from Ontario, federal contributions, and $63.2 million from York Region. The development features on-site underground parking, indoor and outdoor amenity and common spaces, an outdoor garden, a pedestrian walkway, and energy-efficient building systems.

An 11,000-square-foot Seniors Hub and community centre on the ground floor is scheduled to open in 2026, providing programs and services for seniors from Unionville Commons and the surrounding community to support aging in place.

York Region’s seniors population is growing faster than any other age group. By 2031, one in five people will be 65 years or older. This demographic reality is why every level of government has invested in Unionville Commons — and why Markham’s private real estate market for senior-appropriate housing is simultaneously one of the most competitive segments in the city.

The Full Markham Senior Downsizing Spectrum

Tier 1 — Affordable Subsidized Housing: Unionville Commons

For Markham seniors with low to moderate incomes who need affordable housing with supportive services, Unionville Commons at 4310 Highway 7 East is the city’s most significant resource. Applications through York Region Housing Access. Wait lists exist — apply early.

Tier 2 — Market Rate Senior Condominiums: Downtown Markham

For Markham senior homeowners who own significant equity and want a market-rate urban condominium experience with full access to Downtown Markham’s amenities — Whole Foods, Cineplex VIP IMAX, York University, the IndyCar venue, and the Toronto Marriott Markham — Gallery Towers, York Condos, Riverwalk, and the Signature Collection provide two-bedroom luxury units from $700,000 to $1,200,000. For purchases signed before March 31, 2027, the full 13% HST rebate of up to $130,000 applies to new Downtown Markham condos valued up to $1,000,000.

Tier 3 — Established Luxury Condominiums: Circa I and II, Unionville

For seniors who want to stay in the Unionville community they love, the Tridel-built Circa I at 33 Cox Boulevard and Circa II at 23 Cox Boulevard provide luxury condominium living with indoor pool, golf simulator, sauna, billiard room, 24-hour concierge, and underground car wash — walking distance to Main Street Unionville and Toogood Pond Park. Resale units available from the mid-$700,000s for two-bedroom configurations.

Tier 4 — Swan Lake Village: Gated Adult Lifestyle Community

Swan Lake Village at 16th Avenue and 9th Line is Markham’s most established gated adult lifestyle community — 469 bungalow townhomes and 180 condominium apartments, all for residents 55-plus. Single-floor living eliminates stairs. Maintenance fees of $850 to $1,100 per month include Rogers TV and internet, water, exterior maintenance, snow removal, and lawn care. Three pools, four tennis courts, 24-hour gatehouse security. Mount Joy GO Station minutes away.

Swan Lake Village is consistently the first destination senior downsizers ask Michael John Lau about — and consistently the one they choose when community structure and security are their primary priorities.

Tier 5 — Condo Townhomes: Lower Maintenance, Community Feel

Grand Cornell Brownstones at Westmeath Lane, condo townhomes in Greensborough, and similar developments provide multi-level townhome living from $599,000 to $900,000 with maintenance fees from $173 to $450 per month. For seniors who want more space than a standard condo apartment and a townhome’s community character, these properties offer a practical middle ground.

The Financial Transition — Unlocking Equity for Retirement

A Markham senior homeowner who purchased a four-bedroom detached home in Unionville in 2000 for $350,000, with a current market value of $1,800,000 to $2,200,000, holds $1.5 million to $1.9 million in equity above any remaining mortgage. The decision to downsize is simultaneously a lifestyle simplification and an enormous financial optimization.

At $1,700,000 net equity release (from a $2,000,000 sale after costs), a move to Swan Lake Village at $900,000 leaves $800,000 in investable capital. At 4.5% annual return, this generates $36,000 per year in investment income, before CPP, OAS, or pension income. Monthly carrying costs drop from $4,000 to $5,000 in the family home to $1,100 to $1,500 in Swan Lake Village. The monthly cash flow improvement: $2,500 to $3,500. The annual improvement: $30,000 to $42,000.

These numbers should be reviewed with a qualified financial advisor, but they illustrate why Michael John Lau and Neeraj Moolchandani, top real estate agent in Markham Ontario, consistently sees Markham senior homeowners describe downsizing as the best financial decision of their retirement.