This August, something happens in Markham that has never happened before. The NTT IndyCar Series arrives at Markham Centre for the Ontario Honda Dealers Indy, running August 14 - 16, with race day on Sunday, August 16.
This is not a one-off. The City of Markham signed a five-year agreement to host the event, ending the race's nearly four-decade run at Toronto's Exhibition Place, where it had been held since 1986. Markham is now the home of Canada's IndyCar race - and notably, this marks the series' first new international venue since São Paulo in 2010.
The race itself
Crews are building a 12-turn, 3.52 km temporary street circuit through downtown Markham, featuring a high-speed straight and a double-sided pit lane. The course runs through the heart of Markham Centre, near the York University campus and the Unionville GO corridor. It is being billed as the largest sporting event York Region has ever hosted, with reported estimates of a $50 million economic boost and 10,000 jobs supported over the weekend.
There's a fitting local connection too: Honda Canada's headquarters sits right here in Markham.
Why I think this matters for real estate
I'll be direct - a race weekend does not change what your home is worth. Anyone telling you otherwise is overselling. But I think this event matters for three real reasons. First, the infrastructure is permanent. To prepare the circuit, the City is rebuilding roads along Enterprise Boulevard, Kennedy Road, YMCA Boulevard, University Boulevard, and Unionville Gate - new asphalt, new sidewalks, new traffic signals, and new pedestrian crossovers. The barriers come down after the race, but he upgraded streetscape stays.
Second, the exposure is global. IndyCar broadcasts reach over 200 countries. For three days every August for at least five years, the backdrop is Markham Centre - its condos, its restaurants, its skyline. Cities like Long Beach and Detroit have built lasting identities around street races. That kind of visibility shapes how buyers, investors, and businesses perceive a city over time.
Third, and most important, this is a signal. Major event operators commit five years to a location because they believe in its trajectory. The IndyCar deal joins a clear pattern in Markham Centre: the York University campus, transit investment at Unionville GO, and steady residential growth. In my experience, confidence attracts confidence.
The practical side
Residents near Markham Centre should expect construction-related lane reductions on the affected routes in the lead-up, and significant road closures over the race weekend itself. If you live in the area, plan around it. If you own a condo nearby, expect a noisy but lively weekend - and likely some interesting short-term demand for accommodations as visitors arrive.
The bottom line
Markham has spent twenty years building toward moments like this. Whether you're a racing fan or not, the Ontario Honda Dealers Indy puts our city on a world stage - and reinforces what those of us who live and work here already know. Markham isn't waiting for its moment. It's building it.
If you'd like to talk about what the growth of Markham Centre means for your neighbourhood or your property, I'm always glad to have that conversation.
Sources: City of Markham - Ontario Honda Dealers Indy | IndyCar.com