CIBC’s Top 25 Communities for Economic Activity
January 19th, 2012CIBC says Waterloo Region Ranks 3rd in Economic Activity
January 19th, 2012According to CIBC the KWC census metropolitan area ranks third in economic activity among Canada’s 25 largest communities with a score of 18.0. Toronto was ranked first and Edmonton was second with scores of 23.0 and 20.0 respectively. Waterloo Region’s high economic activity score reflects the strong population growth, relatively high quality of employment, strong growth in construction activity and low levels of personal and business bankruptcies. The banks Metropolitan Economic Activity Index measures 9 macroeconomic variables.
Here is the full story in the Record: http://www.therecord.com/news/business/article/657606–waterloo-region-s-economic-activity-ranks-third-in-canada
3 bedroom Proforma
January 19th, 2012
Sage Condo 3 bedroom
January 19th, 2012
Sage Condo
January 19th, 2012
Sage Condominium Development
January 19th, 2012Have you ever thought about investing in a KW student investment property but thought it was too hard? Sage Condos is the latest KW student investment condo project in Waterloo. It is very close to Wilfrid Laurier University on the corner of Spruce and Hickory. There are 3 bedroom and 5 bedroom suites available in this 57 suite 8 storey building and prices start at $359,000 and to up to $599,000. This is a high end student investment condo with granite counter tops, stainless steel appliances, blinds included and furnishings and underground parking. Condo fees are 22 cents a square foot and include Water, Sewer and common elements. Taxes are approximately 1 percent of the purchase price. 10-11% is needed for a deposit when the deal goes firm and another 5% on May 1st 2013. Construction is meant to commence in the Spring of 2012 and occupancy is expected for September 2013. This is a turn key KW investment property and DOMUS property management can manage the property if you so choose. If you want to invest in KW condos and or KW student rental properties then this property is the right one for you. It is within 400 m of the proposed LRT transit line. Check out: www.sagecondos.ca
KWC Commercial Real Estate Market good despite RIM’s woes
January 18th, 2012Colliers recently stated at the firm’s annual market outlook that despite RIM’s potential decline the region’s economy is diverse enough to weather the storm, agents with the commercial real estate firm stated.
Chuck Howitt from the Record mentioned that the Kitchener office vacancy rate is 14% compared to Cambridge’s 24%. John Lind state,”Yes, RIM is dear to us, but if it declines, we will be OK”. Bentall Kennedy, another major North American developer and property manager, acquired a big industrial building erected by Hopewell Developments near Pinebush and Townline roads in Cambridge and also purchased 15 hectares and is now building a 160,000 square foot industrial building on spec, he said.
Here is the full article: http://www.therecord.com/news/business/article/657055–real-estate-industry-still-keen-on-local-market-despite-rim-s-woes
Smaller Developers eye downtown Kitchener
January 16th, 2012The Record’s Terry Pender wrote on January 13, 2012 that a smaller developer is planning to change the 40 one bedroom apartments near 101 Church St to condominiums. “Actually, this is my next project,” Litt says. “We will do a condo conversion on it–little gas fireplaces, stainless appliances.” This area is one block south of the Light Rail (LRT) line that will run down Charles Street. In the past 8 years there has been about $572 million invested from both the public and private sectors on downtown development. $156 Million went towards the Kaufman Lofts, Lofts on Mansion, Le Marche Residences behind the market and the Arrow Lofts and $381 million was spent on commercial and institutional buildings in the downtown (Tannery, Breithaupt Block and new provincial courthouse). Litt says, “If one can acquire these old buildings and renovate them, you can justify the money to get the lift on the rent and there is an incredible demand for this — we have waiting list upon waiting list.” “Our strategy is to flood downtown Kitchener with luxury apartments”. Here is the full story: http://www.therecord.com/news/local/article/654442–smaller-developers-see-downtown-s-potential
City of Cambridge bills landlords for their deadbeat tenants
January 12th, 2012According to Kevin Swayze’s article in the January 10th, 2012 Record, the City of Cambridge is going to charge landlord’s for their tenants unpaid water-sewage bills and all associated late fees onto their tax bill. There are 3000 Cambridge rental properties where the tenants names are on the sewer and water utility and as of the beginning of January there were 1718 that were 60 days overdue, owing $503,000. If these remain unpaid they are tacked onto property taxes. Councillor Ben Tucci said, “if condo owners get a break, it is only fair council bend the rules for landlords”.
Here is the story: http://www.therecord.com/news/local/article/652486–cambridge-gives-condo-owners-big-water-bill-break-but-not-landlords
Student rental property in Waterloo wins green certification
January 12th, 2012The Record’s Jeff Hicks wrote on January 11, 2012 that 116 University Avenue has received LEED Platinium certification for his Waterloo student rental property. There are 25 students that rent at this property and it is managed by Domus Student Housing. The one bedrooms rent for $655 a month plus hydro but internet and utilities are included. “Ilic will pay more to heat his own home than to warm this student residence, where each unit has 4 to 5 bedrooms with common living and dinning rooms,” wrote Mr.Hicks. Waterloo Councillor Mark Whaley said,”Ilic is going to be able to make a business case with respect to savings over the long term. In the end, he’ll recoup his investment and the people who live there will live in a quality green building.”
http://www.therecord.com/news/local/article/652789–green-student-residence-one-of-a-kind
