This mid rise condo development was just completed this year, and has a prominent Uptown Waterloo location at Bridgeport & Peppler.

Momentum Developments is getting a lot of love around Waterloo these days for the release of their new development, RED Condominiums, which debuted last night to a VIP crowd and proceeded to sell out half the building.

the42 Condos on Bridgeport

The residential condos were completed this summer, and the building was registered as a condo last month.  Once a condo building is registered, owners receive title (ownership) and can sell their units on the MLS if they wish.

the42 Condos Resale Prices

Since registration, two condos have sold at the42, and the prices bode very well for everyone who bought back in 2008 during pre-construction.

A 2 bedroom unit was just sold by a private owner, and it sold for $392 per square foot.

A second unit was sold, and it hit $400 a square foot.

the42 Condos have been a very good investment so far – the average price was under $300 per square foot when these were sold pre-construction.

the42 Condo Interior Images

PS – remember these great pics? They’re from a 2 bedroom + den at the42 owned by WonderfulWaterloo member Sampson

Feel like there is more natural light in this kitchen than most other?  You’re right.

The owner of this residence worked with the builder to customize the floorplan, moving the kitchen adjacent to the terrace and it’s wall of windows.  I think it looks terrific – and it’s unique.

Notice the low VOC bamboo floors, just one of the lower impact “green” options that Momentum Developments offered at the42.

the42 Condos For Sale

For pricing & availability of the42 condos in Waterloo, call me at 519-772-4376 or email me directly at Benjamin AT BenjaminBach DOT com.

If you are interested in other Waterloo Condos, let us know what you are looking for. We have a selection of condos available under $200,000, as well as other pre-construction developments.  Whatever type of real estate investment you’re looking for, we can help you with it.

There are currently two units at the42 condos for sale – let me know if you’d like to set up a private tour.

One of things I find myself talk to real estate investors about these days is how to value a Kitchener Waterloo Apartment Building.  Seems there are lots of people looking to acquire high quality apartment buildings, but there is small supply of these buildings for sale, especially when we start talking about more than 50 units.

Most owners are happy to hold their buildings now  – multi family real estate is a notoriously stable investment during good times and bad (and stable investments are held in higher regard during recessionary times), but buyers are eager to deploy their capital into a stable asset.

This spread between available supply and current demand makes it a great time to sell your Kitchener Waterloo apartment building; case in point, we have recently seen quality multi family investment properties come to market and receive multiple offers in the first few days.

How to Price a Kitchener Waterloo Apartment Building

If you were going to sell your Kitchener Waterloo Apartment Building, how would you price it?

Right now, there is a large difference in ‘per suite’ asking prices for comparable apartment buildings online, with several active multi-family listings being priced considerably higher than comparable recent sales.

(Note: there are some properties, like brand new buildings or luxury apartment buildings, that sell for outside the normal range. For example, see: Two Waterloo Region Apartment Buildings Sell For $45+ million)

Click play to watch this quick video we put together looking at the prices of apartment buildings in Kitchener Waterloo

If you own a Kitchener Waterloo Apartment Building

If you have any questions about the multi-family investment market in Waterloo Region, call me directly at 519-772-4376 or email me at Benjamin@BenjaminBach.com

KW Commercial is your one stop shop for commercial, investment, retail and multi family advice and brokerage in Waterloo Region.  

We have buyers currently looking for a large Kitchener Waterloo Apartment Building – call us to discuss the sale of your property.

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Look Smart By Investing Where The Jobs Are

How do you buy Real Estate? Location, location, location.

Buy Property Near The Jobs!

Are you looking to invest in an area where the employment capacity is increasing? Take a look at residential investment properties near Weber Street North between Northfield and Benjamin Road.

This short stretch of road in North Waterloo adjacent to an investment property we just sold is seeing a lot of intensification through redevelopment. Let’s take a look at what’s in the pipeline:

North Waterloo Development Projects

580 Weber Street North, Former NCR Site

Purchased by GPM Investments in 2008 for ~ $20,000,000

Plans for 350,000 – 500,000 square feet of offices in 8-12 buildings

The former NCR site is huge – 37 acres with an existing building of approx 280,000 square feet as is. To give you an idea of the expansion potential, the site currently houses a couple baseball fields.

GPM (the same firm that is developing Sportsworld Crossing) has plans to add an additional 8 buildings (between 2,670 and 50,000 sq ft) to the site, to compliment the existing building. According to The Record, they’re debating whether to modify or replace the existing office building.

—

600 Weber Street North

Under redevelopment by the Marsland Corporation – 106,000 square feet

The Marsland Family owns some prominent office real estate in Kitchener Waterloo, including the Marsland Centre on Erb in Uptown Waterloo, two buildings RIM leases on Phillip, the Sybase building in the University of Waterloo Research & Technology park, and several Class A high-tech offices on Randall.

They are currently renovating their 100,000+ sq ft property at 600 Weber Street North, and have plans for a new 50,000 square foot building next door at 598 Weber Street North. This site is immediately north of the NCR site

—

Potential redevelopment site, Weber Street North

15 acres, existing building is 152,000 sq ft

This site, just south of Benjamin Road on Weber, is another potential office redevelopment. The site is currently being marketed by CB RE.

Location, Location, Location

Oh – there is also a proposed Light Rapid Transit (LRT) stop at Northfield and Parkside, one block from Northfield & Weber. And SmartCentres just poured millions into a new retail development anchored by Walmart a minute away in St Jacobs.

Your future tenants enjoy things like that.

When you are investing in a residential rental property in Waterloo, you can buy one of the shiny new condos for $$$ in uptown, or buy a comparative bargain in the Northlake neighbourhood near major tech firms, new retail development and LRT.

Your money, your call. For a list of affordable investment opportunities in the North Waterloo area, send me an email at Benjamin @ BenjaminBach.com or call me at 519-772-4376

Note: Leasing at the NCR site is handled through Colliers; 600 Weber is for lease through DTZ Barnicke.

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Fusion Homes bought the property and plans to put two highrise towers on site, plus townhouses and some retail.

From The Record:

“We are planning a substantial mixed-use development on the property,” Lee Piccoli, president of Fusion Homes, said.

At least two highrise buildings are to be constructed and very likely some townhouses as well. The company will look into the demand for office and retail space in that area, but that will not be a large part of the project.

Piccoli did not want to speculate on when construction will begin.

“I am very bullish on downtown Kitchener,” Piccoli said. “When the opportunity came up, we jumped at it.”

Surface-parking lots now dominate the block where a used-car lot and a car rental agency operate.

“I think as a developer you’re always trying to see something, not as it looks now, but as it looks three or five years from now. So that is something that we found really attractive about the property,” Piccoli said.

King Street East has seen slow, steady improvement since the City of Kitchener built the $22-million farmers’ market, which opened in 2005.

Since then, three bakeries, two restaurants and a small grocery store have opened on adjacent blocks. Abandoned homes on Madison, Eby, Cedar and Duke streets have been renovated and occupied.

Fusion Homes’ move follows, by six years, the creation of a special program — called the economic development investment fund — that pumped about $100 million into different downtown projects.

“The mayor and the council seem really committed to the redevelopment,” Piccoli said.

…

The past 10 years have seen a growing list of high-density development in the core and central neighbourhoods, including — the Sandhills development and Iron Horse Towers on Queen Street South, the Kaufman Lofts on King Street, Lofts on Mansion, Le Marche Residences behind Your Kitchener Market, The Regency at Queen and Weber streets and the Drewlo apartments on Victoria Street South adjacent to Victoria Park.

Read the whole article

Over at WonderfulWaterloo.com, we’ve been talking about the need for a grocery store downtown. Looks like the City also sees the need. While looking over the zoning for the King Street East mixed0use corridor, I found this:

“Two submissions were received requesting that staff consider an increase to the amount of permitted retail floor space. One submission made this suggestion citing the example of a food store use that would require greater leasable floor area than the 1,000 square metre limit currently defined in the Official Plan and MU Zones. Staff agree that 1,000 square metre limit on retail floor area could preclude a larger format food store use. Staff are also of the opinion that a larger format food store use would be consistent with the Official Plan Policy intent to serve adjacent residential neighbourhoods, and further could be catalytic for future residential intensification within the corridor. Staff note that a large food store may not be appropriate in all areas of the Mixed Use Corridor, and therefore propose to focus the applicable Official Plan Policies and Zoning provision enabling such a use to a the portion of the King Street East Mixed Use Corridor located between King Street East, Charles Street East, Preston Avenue and Cedar Street South.

Official Plan Amendment OP09/04/COK/HH and a revision to the draft proposed zoning in the King Street East Mixed Use Corridor were drafted to implement this suggested revision. Staff recommend increasing the retail floor space limit from 1,000 square metres to up to 5,000 square metres on the ground floor for food store use provided that it be internal to a large mixed use development.”

From: http://kitchener.ca/en/businessinkit…ningreport.pdf

Between this proposed development and the City Centre condos by Andrin, there are four new towers coming to a downtown King Street in the next few years, plus a lot of infrastructure development like the new Kitchener Transit Hub. Pretty cool!

What do you think?

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KW Commercial is proud to present 10-335 Northlake Drive in Waterloo, Ontario for sale. Update: This property has been sold to a real estate investor.

This well maintained two bedroom condominium is in a terrific Waterloo location near high tech companies like RIM, Descartes, AGFA, Google, Open Text, as well as the two Universities and Conestoga College. It is currently tenanted.

Click map to enlarge

Built in the early 1990s, this complex is ideally set near the St Jacobs Farmers Market, beautiful walking trails, and is a short drive to an Expressway onramp which leads to 401 highway access. Pearson Airport is about a one hour drive away, depending on traffic of course.

There is a Light Rapid Transit (LRT) station planned at Northfield & Parkside, a short walk away (at the top of the map below). The proposed LRT plan would allow a tenant to walk to the LRT station & take it all the way to Fairview Park Mall, and eventually Sportsworld Crossing and into Cambridge, Ontario.

Proposed LRT map. Click map to enlarge

The combination of a quiet country setting, proximity to major employers & access to transportation makes this a location tenants will continue to love.

We have a number of clients who own units in this complex, it has done well by Keller Williams clients over the years.

Offered for sale at $ 145,000

For more details, contact Benjamin Bach at 519 570 4447 or via email

Kitchener Waterloo is Ontario’s top Real Estate Investment Destination, again.

Well, it’s that time of year again. Kitchener Waterloo is getting some more much deserved attention from Canadian Real Estate Investors all across the country.

KW has been named the top real estate investment destination in Ontario by the Real Estate Investment Network for a couple years in a row (see: Kitchener Waterloo Real Estate ranked #1 again), and this year the trend continues.

REIN released the REIN Top 10 list that named Kitchener Waterloo the #2 investment destination in Canada, and tops in Ontario again.

From CTV News:

The Record reports:
REIN “refers to Waterloo Region as the “economic Alberta of Ontario.”
That means Waterloo Region is seen not only as the economic engine of the new Ontario economy, but also that it “will outperform all other major regions in eastern Canada,” says REIN president Don Campbell
For indicators, he points to job growth, student growth and a new light rapid-transit system.”

Why are real estate investors focused on our city? Let’s take a look at the reasons why people like buying investment property in Kitchener Waterloo

Top 9 Reasons People Are Investing in Kitchener Waterloo Real Estate Now

1. Top Area to Invest – The Real Estate Investment Network named Kitchener Waterloo & Cambridge (“the Technology Triangle”) the #1 city to invest in Ontario and #2 in Canada, behind Calgary.

2. Low Interest Rates. currently we have very low interest rates – although there is a slight upward trend right now – which makes NOW a great time to invest. Rates will be going up in the future. It’s a matter of how soon, and how much. Smart real estate investors are taking advantage of historically affordable cost of borrowing money.

3. Great prices – Investors love Kitchener Waterloo because it has a booming economy, without big city property prices. Our clients invest in condos ranging from $120,000 on up, and there are opportunities to buy multi-family housing with cap rates of 7%, leaving room for healthy cash flow with today’s low interest rates.

You can buy good quality new construction rental units here (like City Centre, 144 Park, Bauer Lofts and others), for much less than you’d pay for an older condo in Toronto. (That’s what our cilents from Toronto happily do, over and over again).

4. Growth – Kitchener Waterloo is growing at a rapid rate. If you haven’t been here in a few years, just drive down King St! There are mulitple mega million dollar developments that are underway or have been completed recently – The Bauer Lofts, The Barrel Yards, City Centre, 144 Park, the Arrow Lofts, Kaufman Lofts, the new McMaster medical school and University of Waterloo Pharmacy school, the new King St streetscape in downtown, the new Uptown Waterloo, the Kitchener Market, Market lofts; and LOTS of development in the university areas as well.

Also, the University of Waterloo has recently announced plans to double it’s footprint over the next 40 years. See Is Waterloo’s Student Housing Market Being Over Built?
5. Stable, Diverse Economy – Kitchener Waterloo is a market supported by strong fundamentals – world class high tech companies, universities and NGOs; a strong manufacturing sector; proximity to Toronto and the United States; an international airport; continued job growth etc.

In the July 2010 figures released by Stats Canada, the jobless rate of the KW area fell, while national unemployment rose.

6. Access to Property Management – all of our clients have access to world class property management for a very reasonable rate. Contact me for more details !

7. Great Business Community – Major companies and organizations call the Technology Triangle home including RIM (makers of the blackberry), Toyota, OpenText, Manulife, Sunlife, the Perimetere Institute, the Centre for International Governance Innovation, and a host of world class local companies.

8. Awesome, Smart People: Kitchener Waterloo is the MOST INTELLIGENT COMMUNITY IN THE WORLD. Take that Toronto

9. Great Resource – You have found a real estate agent and Wealth Building team that is focused on building your wealth!

What are some of the reasons you like investing in Kitchener Waterloo? Let us know in the comments!

Interesting in buying a condo? Wondering between new construction projects?

Read these articles, then email or phone me to set up a personal condo consultation

Investing in New Construction Condos in Kitchener Waterloo

Dont Get Burned – 3 things to check out when buying a Condo in Waterloo

Top 9 Reasons You Should Invest in KW Real Estate

The Kaufman Lofts

The Kaufman Lofts in Kitchener Waterloo – an Investor’s Perspective

What is a condo at Kaufman Lofts in Kitchener Worth?

Why do Real Estate Investors like the Kaufman Lofts?

New Construction Condominiums

City Centre Condos (Centre Block) by Andrin Homes

Centre Block to bring $95 million development to Kitchener downtown

Bauer Lofts, Waterloo

What are Bauer Lofts in Waterloo, Ontario selling for?

Bauer in Waterloo filled, Cambridge place still half empty

Dinner out at Bauer Kitchen @ the Bauer Lofts in Waterloo

You can Live in Waterloo’s Bauer Lofts !

144 Park, Waterloo

Waterloo City Staff recommend Proposal for 144 Park Condo be approved

Why do people love the area near 144 Park condos in Waterloo?

Video of 144 Park – Luxury Waterloo Condo Project

Pictures of 144 Park Condo Sales Centre

Construction of 144 Park Condos in Waterloo estimated at $21 million

Why is 144 Park The Hottest New Condo In Waterloo?

144 Park Condos in Waterloo Ontario – New Luxury Lofts in Waterloo

Barrel Yards, Waterloo

News on the Barrel Yards Development in Waterloo, Ontario