Kitchener Waterloo Real Estate Investment Property Information

RED Condos in Waterloo already half sold

Benjamin Bach, KW Commercial Director — Thu, 01 Sep 2011 23:13:53 +0000

It’s been a busy day of sales for Momentum Development’s newest Waterloo project, RED Condominiums on King Street at Allen in Uptown Waterloo.

They had a VIP launch last night, and are now over half sold – after just one day!

RED Condominiums in Waterloo 1/2 Sold Out

Momentum sold more than half the units at RED.

Every unit under $300,000 sold.

Every Studio unit sold. (Pricing was between 218,900 and 241,900)

Every 1 bedroom condo sold. (Pricing was between 257,900 and 344,900)

All but one of the Sub Penthouse residences (fifth floor) sold.

One Penthouse residence sold.

There is a great selection of 1 bedroom + den units, and two bedroom units left – everything else has been sold.

Big congratulations to the team at Momentum Developments – you’ve brought another exciting project to Waterloo, and the market has responded with a resounding ‘Thanks!’

If you’re interested in floorplans, we have them available here: RED Condo Floor Plans. If the floorplan you’re looking for hasn’t been added to our site yet, just send me an email & I will send it directly to you.

For pricing information, call me at 519-772-4376 or email me directly at Benjamin AT BenjaminBach DOT com.

Momentum releases floorplans for RED Condominiums in Waterloo

Benjamin Bach, KW Commercial Director — Mon, 22 Aug 2011 14:12:13 +0000

Floorplans for RED Condominium Released

The Newest Waterloo Site from Momentum Developments - RED Condominiums – has released floorplans for their six floor mixed use development (retail on the main floor, residential condo units above), and they look good.

The Red Condominiums will be 63 units with ground level retail, and slightly larger than the42 that Momentum is building right now on Bridgeport Road. Plans call for 11 studio units, 17 1 bedroom units, 18 1 bedroom +den, 13 two bedroom units and 4 two bed + den units

Momentum Developments is the firm behind the42 and the BPR Lofts two of the hottest projects in Uptown Waterloo. BPR Lofts recently finished, and the42 is just wrapping up, with the residential condos now registered, and work just finishing up on the exterior grounds & commercial units.

Their new project – the RED Condominiums at Allen & King, across from the Bauer Lofts - has units ranging from small studio condos (from 528 sq ft) up to a roomy 1931 square foot penthouses on the sixth floor, complete with wrap around terrace.

Here, for your viewing pleasure, is the smallest floor plan, and the largest.

Which do you think will be the better investment?

and the Penthouse:

If you’re interested in the floorplans and more info on the RED Condominium project, send me an email or give me a call.

Apple Store at Conestoga Mall in Waterloo OPEN

Benjamin Bach, KW Commercial Director — Mon, 22 Aug 2011 13:16:19 +0000

All Apple Store photos are from ehmac.ca

CBC’s The National looks at the strength of Waterloo’s retail market

Last week I had the pleasure of speaking with Ron Charles from CBC’s The National about the new Apple Store opening up in Waterloo’s Conestoga Mall, and why Apple was coming to a “non major urban centre.”

As I told Ron, major retailers are tripping over each other trying to get to Waterloo- Target (see Target is coming to Waterloo’s Conestoga Mall)
, Apple, Coach, Paderno, Spring Rolls, Oliver & Bonacini, Lee Valley, Sephora have all opened recently or are coming soon – because Waterloo Region has a great demographic – we skew younger, more educated, have more disposable income and are generally more tech savvy than many other regions in Canada. And the 70,000 students at WLU, UW and Conestoga College don’t hurt either !

To get a sense of how hot the Kitchener Waterloo commercial real estate market is for retailers, just drive down Ira Needles Blvd and take a look at The Boardwalk, 1 million square feet of premium retail space – and there are new retail developments on either side of it too.

Waterloo Region is now also one of the top 10 largest urban centers in Canada, and with the announcement of the Apple store coming to Burlington, Apple will have an official store in each centre.

Source: Ehmac.ca

I do not think the Apple Store in Waterloo is a response to RIM at all – I think that is a sensational perspective that some people are trying to see, but I don’t think it’s reflected in the reality.

The CBC clip also features Avvey Peters from Communitech discussing the health & vitality of Waterloo Region’s hi-tech sector, which is expanding every day.

And for the record, I’m a BlackBerry guy.

COMING SOON: TARGET at Conestoga Mall in Waterloo

Benjamin Bach, KW Commercial Director — Sun, 21 Aug 2011 13:18:48 +0000

I wrote about this a while back, when covering the new Apple Store opening in Waterloo, but I can now officially announce what I told you:

TARGET is coming to Conestoga Mall in Waterloo

As anyone who follows Retail & Commercial Real Estate in Canada likely knows by now, Target bough Zellers for $1.82 billion, mainly for the leases it owned in prime retail locations. Zellers has a huge presence across Canada in premier malls, and it would be impossible to replicate that presence quickly, without buying a competitor.

Target will be taking the old Zellers space in the North East part of Conestoga Mall. I do not expect the second Zellers in Waterloo, on bridgeport, to become a Target, but ya never know.

Walmart will be taking some of the Zellers stores that Target will not occupy. This may include locations in Kitchener Waterloo.

What is significant is that TARGET announced that it is coming to Waterloo in its first round of store annoucnements – Kitchener Waterloo is a major market that American retailers want to be in. Just look at the new Apple Store that just opened up!

TARGET Comes To South Western Ontario

Target is moving into South Western Ontario’s Retail scene in a major way, announcing stores in Waterloo, Cambridge Centre, Masonville Mall and Westmount Mall in London, 175 Stone Road W in Guelph, at Gates of Fergus, among others.

The rest of the stores in Canada are as follows:

Alberta
•       Chinook Centre, Calgary
•       Forest Lawn Shopping Centre, Calgary
•       Market Mall, Calgary
•       Shoppes at Shawnessy, Calgary
•       Signal Hill Centre, Calgary
•       Sunridge Mall, Calgary
•       Bonnie Doon, Edmonton
•       Kingsway Garden Mall, Edmonton
•       Mill Woods Town Centre, Edmonton
•       Prairie Mall, Grande Prairie
•       Bower Place, Red Deer
•       St. Albert Centre, St. Albert
•         Sherwood Park Mall, Sherwood Park

British Columbia
•       Abbotsford Power Centre, Abbotsford
•       Metropolis at Metrotown, Burnaby
•       Discovery Harbour Shopping Centre, Campbell River
•       Cottonwood Mall, Chilliwack
•       Coquitlam Centre, Coquitlam
•       Driftwood Mall, Courtenay
•       Tamarack Mall, Cranbrook
•       Scottsdale Mall, Delta
•       Willowbrook Shopping Centre, Langley
•       Haney Place Mall, Maple Ridge
•       Nanaimo North Town Centre, Nanaimo
•       Pine Centre, Prince George
•       Oakridge Shopping Centre, Vancouver
•       Village Green Mall, Vernon
•       Tillicum Mall, Victoria

Manitoba
•       Shoppers Mall, Brandon
•       Grant Park, Winnipeg
•       Kildonan Place Shopping Centre, Winnipeg
•       Polo Park Shopping Centre, Winnipeg
•       Southdale Centre, Winnipeg

New Brunswick
• McAllister Place, Saint John

Newfoundland and Labrador
• Corner Brook, Corner Brook
• Cabot Square, St. John,s

Nova Scotia
• Bedford Place, Bedford
• Mic Mac Mall, Dartmouth

Ontario
•       Durham Centre, Ajax
•       Aurora Shopping Centre, Aurora
•       Bramalea City Centre, Brampton
•       Shoppers World Brampton, Brampton
•       Trinity Common, Brampton
•       Burlington Mall, Burlington
•       Millcroft Centre, Burlington
•       Cambridge Centre, Cambridge
•       Woodbine Centre, Etobicoke
•       Gates of Fergus, Fergus
•       175 Stone Road W., Guelph
•       Centre Mall, Hamilton
•       South Hamilton Square, Hamilton
•       Hazeldean Mall, Kanata
•       Cataraqui Town Centre, Kingston
•       Lindsay Square Mall, Lindsay
•       Masonville Place, London
•   Westmount Shopping Centre, London
•       Milton Mall Shopping Centre, Milton
•       Erin Mills Town Centre, Mississauga
•       Square One, Mississauga
•       Meadowlands Shopping Centre, Nepean
•       Upper Canada Mall, Newmarket
•       1899 Algonquin Ave., North Bay
•       Centerpoint Mall, North York
•       Orillia Square Mall, Orillia
•       Place D,Orleans, Orleans
•       Five Points Mall, Oshawa
•       Bayshore Shopping Centre, Ottawa
•       Billings Bridge Plaza, Ottawa
•       RioCan St. Laurent, Ottawa
•       Hillcrest Mall, Richmond Hill
•       Bridlewood Mall, Scarborough
•       County Fair Mall, Smiths Falls
•       Niagara Pen Centre, St. Catharines
•       Stratford Mall, Stratford
•       Sudbury Supermall, Sudbury
•       Intercity Shopping Centre, Thunder Bay
•       Cloverdale Mall, Toronto
•       Shoppers World Danforth, Toronto
•       East York Town Centre, Toronto
•       Flamborough Power Centre, Waterdown
•       Conestoga Mall, Waterloo
•       Taunton Gardens Power Centre, Whitby
•       Devonshire Mall, Windsor

Prince Edward Island
• Charlottetown Mall, Charlottetown

Quebec
•       Galeries d,Anjou, Anjou
•       Faubourg Boisbriand, Boisbriand
•       Carrefour Angrignon, Lasalle
•       Mega Centre Notre-Dame, Laval
•       Galeries Chagnon , Levis
•       Place Longueuil, Longueuil
•       Place Alexis Nihon, Montreal
•       Place Vertu, Montreal
•       Terrarium Shopping Centre, Pointe Claire
•       Les Galeries De La Capitale, Quebec City
•       Place Fleur De Lys, Quebec City
•       Place Laurier, Quebec
•       Le Carrefour Rimouski, Rimouski
•       Promenades Saint-Bruno, Saint-Bruno-de-Montarville
•       Carrefour Saint-Georges, Saint-Georges
•       Carrefour Richelieu, Saint- Jean sur-Richelieu
•       Carrefour du Nord, Saint Jerome
•       Carrefour de L,Estrie, Sherbrooke
•       Les Rivieres Shopping Centre, Trois Rivieres

Saskatchewan
• Northgate Mall, Regina
• The Centre, Saskatoon

New Construction Condos in Kitchener – City Centre & 144 Park

Benjamin Bach — Sun, 21 Nov 2010 20:49:51 +0000

How do you decide which pre-construction condos to invest in?

City Centre and 144 Park in Kitchener Waterloo

I was recently talking to a few people in one of the Wonderful Waterloo forums about the new City Centre Condos coming to downtown Kitchener – about 380 units in two towers (one with 17 floors, and a second 14 floor tower).

The topic of Investing in Condos came up, and one of the members mentioned that they had chosen to put their hard earned investment capital to work at 144 Park, a pre-construction condo being built in Waterloo.

[/caption] Curious, I asked why they prefered 144 Park over the City Centre Condos. The real estate investor replied: “There are many things at this point that makes me feel it [144 Park] is a good deal and not limited to: price per sqft. I paid $340, whereas depending on the unit at CC, they are up to $370 including parking and locker* assured it will be built by 90%+ units being sold timing. Who knows when CC will have occupancy across the street from Vincenzo’s and Bauer Kitchen the area around King & Allen is ripe for more big development in building amenities availability of bigger units proximity to Sunlife for rentability If you want a bigger town feel, City Center will be surrounded by more, but downtown is still a few years away from that. I mean more within a few steps, not a few blocks.” With Bauer Lofts next door to 144 Park, it’s already desirable. I really like that Vincenzo’s and Bauer Kitchen are across the street. I think that will appeal to a lot of people who desire condo living.” I found this perspective very interesting. I have a number of friends who have bought at City Centre in Kitchener, and a few clients who have been interested in 144 Park in Waterloo; none of them have yet bought at 144 Park. I think they’re both great projects, in premium locations. Clearly 144 Park is more upscale, but that doesn’t mean it will be a better (or worse) investment. What do you think? (PS the quote above is from someone on an internet forum. It’s not advice or fact from me, and it shouldn’t be taken as investment advice. Talk to me or another professional for individual advice for your specific situation before making a large financial decision) photo by spaceamoeba Related posts: New Construction Condos in Kitchener Waterloo Kitchener Waterloo’s Centre Block Condo Development Moving Forward Centre Block to bring $95 million development to Kitchener downtown

Kitchener Waterloo named #1 Investment Spot in Ontario by REIN, again

Benjamin Bach — Tue, 10 Aug 2010 23:29:25 +0000

Hot on the heels of last year’s report, REIN, the Real Estate Investment Network, published their report naming Kitchener, Waterloo and Cambridge Ontario the #1 place in Ontario to invest in real estate.

Why does REIN consistently rank Kitchener Waterloo #1 ?

Here are the Top 9 Reasons You Should Invest in Kitchener Waterloo Real Estate

#1 – consistently ranked as the top spot to invest in real estate in Ontario, and #2 in Canada as per REIN

#2 Low Interest Rates – It is now more affordable to borrow money, making it a great time to buy investment real estate

#3 Great Prices

For the complete article, click here: Top 9 Reasons You Should Invest in Kitchener Waterloo Real Estate or watch this video:

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Investment Property in Cambridge Ontario Sells for BIG Bucks

Benjamin Bach — Wed, 30 Jun 2010 15:13:05 +0000

(originally posted at Investment Property in Cambridge Ontario sells for $45+ million on June 28th)

Large Apartment Building Sold in Cambridge Ontario

Last week we looked at Two Waterloo Region Apartment Buildings that Sold For $45+ million.

Here is a video with some more information on the sale:

To recap, the investment property in Cambride, Ontario was purchased at a 5.7% cap rate.

Between both apartment buildings there are 225 units, and the average rent is above $1500 per month.

High valuation, but the properties generate premium income, are prestigious assets, and are very recent (6 years and 1 year) construction.

Kitchener Waterloo Real Estate news

Benjamin Bach — Sat, 26 Jun 2010 18:02:49 +0000

Here are some articles about Kitchener Waterloo Real Estate that were posted on our other blog this week.

An excerpt of each article is included. Click the title to read the full blog.

Google moves offices from Waterloo to Kitchener’s Tannery

Big news for downtown Kitchener: Google is moving it’s offices from Waterloo’s Tech Town (in the U of Waterloo research and technology park) to the Tannery District in downtown Kitchener.

This is great for downtown Kitchener, and will prove to be especially profitable for our clients who own investment condo’s at the Kaufman Lofts (one block adjacent) and other downtown Kitchener Condos.

Ontario Rent Increase Guideline for 2011 is pretty low

0.7% to be exact, the lowest it’s been since the government of Canada implemented guidelines around the amount that real estate investors could increase the rents in their investment property each year.

From The Record:

The guideline is the maximum amount a landlord can increase the rent of most sitting tenants without seeking approval of the Landlord and Tenant Board.

The 2011 guideline applies to rent increases that occur between January 1 and December 31, 2011.

The calculation is based on the Ontario Consumer Price Index.

New Kitchener Condo development splits local opinion

Fresh off our discussion of the new Condos, Hotel, and Commercial real estate coming toWaterloo - the Barrel Yards, here is some information about a new development going in donwtown Kitchener at 30-40 Margaret Ave.

I happen to think it’s a great addition to the area! Read the article from today’s Record, and leave a comment below!

News on the Barrel Yards Development in Waterloo, Ontario

The Record has an article in this morning’s paper about a major development underway in Waterloo, Ontario – The Barrel Yards – which will bring the Kitchener Waterloo real estate market some very high quality product over the next few years

When completed, the Barrel Yards – located at the corner of Erb Street and Father David Bauer Drive in uptown Waterloo, Ontario – will be home to a hotel, condos, rental apartments, commercial real estate (office & retail space) and townhouses

Kitchener Waterloo Earthquake!!!

There was just an earthquake in South Western Ontario, felt in Montreal, Ottawa, Toronto, New York, and here where I am, in Kitchener Waterloo. That is a rather large span. No words on aftershocks yet.

REALTORS discuss HST & Real Estate in Ontario

From The Kitchener Waterloo Real Estate Board blog:

On Thursday June 17^th, 2010, 16 leaders from Waterloo Region’s real estate industry, including REALTOR® members of the Kitchener-Waterloo Real Estate Board (KWREB), Cambridge Real Estate Board, staff, and a representative of the Waterloo Home Builder’s Association met with Ontario PC Leader Tim Hudak at KWREB’s offices to discuss how the HST will impact the real estate industry and to explore ways in which to help moderate its impact.

One reason Real Estate Investors like Kitchener Waterloo

Benjamin Bach — Sat, 19 Jun 2010 22:31:16 +0000

Real Estate investors from across Canada and the world look to Kitchener Waterloo as a destination for their investment capital (see: Waterloo Region in the news, and why Real Estate Investors care).

One reason, among many, is the proximity to the financial heart of Canada - Toronto, while still maintaining very affordable prices that allow investors to buy rentals that produce positive cash flow every month.

Today the Financial Post has a great story about Toronto emerging as a poweer player on the world stage. Toronto Rising:

“Canada’s economy and financial system has never looked so good to the rest of the world,” said Don Coxe, strategy advisor to BMO Capital Markets, who is based in Chicago.

In many ways, the stars have been aligning for nearly 20 years for Canada’s, and Toronto’s, time in the sun.

The initial drive to tame the deficit in the early 1990s — which many countries are now holding up as model for their own austerity drives — set the stage for personal income tax cuts while the recent commodity boom has helped pad government coffers further, and sent the Canadian dollar soaring.

Earlier this month, the French bank BNP Paribas mused that the loonie could become one of the world’s reserve currencies, a place where central banks and other institutions would park their money as a safe, solid store of value. Indeed, Russia has announced it has started buying the Canadian dollar as a plan to diversify away from the U.S. greenback

…

Toronto already has the makings of a great financial capital. It is ranked by the Global Financial Centres Index, a London-based group, as the third-largest financial hub in North America behind New York and Chicago, and 12th-biggest in the world.

The list takes into account such factors as the number of people employed, the availability of skilled workers, the level of taxation and the volume of transactions carried out.

Toronto is home to two of the world’s largest life insurers, five of the top 10 banks in North America and Europe and at least three of the top 50 pension funds, according to a recent report by Boston Consulting Group.

Financial services accounts for more than 20% of GDP in the Greater Toronto Region, with annual job growth of about 4.3%. The sector employed 220,000 people.

The Crisis in Europe, and Real Estate Investors

Benjamin Bach — Sat, 19 Jun 2010 12:37:19 +0000

Why Europe is in trouble, and how it affects Real Estate Investors

The EU Debt Crisis

Anyone who invests their money anywhere should be watching the economic events unfold in the Euro Zone.

People who know me know that I’m not too optimistic about Europe’s chances to emerge unscathed (and united) from their latest economic debt (or rather, spending) crisis.

Why? The leaders don’t seem to be willing to sit down at the proverbial kitchen table, make a budget that is realistic, and live within their means. Until that happens, they have a problem.

What is the crisis? Most countries spend more than they make, and borrow to make up the difference.

Imagine you spent $150,000 for every $100,000 you made, and you had to borrow the additional $50,000 every year. This can only go on for so long.

To understand why this is a really really big problem, imagine that you and your friends all live this way, and you all are the ones loaning each other money to live this extravagant life.

Eventually, the bill comes, none of you have any money (and you all owe each other $$), and something has to give. Watch this quick video for a better idea of what I mean, then keep reading:

But that’s Europe – why should we care?

Investors will be impacted by what happens in Europe, either directly through stock in European companies, owning mutual funds or stocks of North American companies that invest (or do business) in Europe.

If you own European Banks, you’ve probably seen some of your wealth evaporate (and get ready – more will go soon!); If you own gold, you’re probably doing pretty well watching the credit chaos unfold.

If you invest in real estate, and have loans against the property (like a mortgage or a line of credit), then you’re exposed too (We wrote about this previously here: From Greece with Love).

When lending to Europeans looks riskier, money sources look to stable markets like Canada and the United States to loan to, increasing the amount of capital our banks have access to, pushing rates down (or allowing them to stay low, as we’re seeing this month).

So, what should I do?

I would (and, all of this is just what I would do… talk to a financial advisor for advice thats right for you) minimize my exposure to Europe.

The riskiest assets to be invested in, in my opinion, would be assets that have strong links to the EU economy, or that are sensitive to fluctuations in the Euro or the EU stock indices. That means alot of financial stocks, and the stocks of many companies that do significant business in Europe. Needless to say, I also don’t think buying the Euro is a good idea right now, but what do I know…

Buy tangible assets. Something you can see & touch – that you understand. Residential real estate rentals (either smaller investment property or Apartment Buildings) tend to do very well, since people always need a place to live, and they produce a consistent cash payment every month (that the property is rented).

If you’re investing in real estate, buy in areas that have a strong emplyment base, good schools (K-12 and College & Universities), prices that haven’t skyrocketed recently, and are near other major centres. Just my two cents.

What do you think? Let me know in the comments.

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