Kitchener's Innovation District Is Booming. What This Means For Buyers, Sellers And Investors
By Condo Culture
If you've driven through Kitchener's Innovation District recently it's hard to miss the cranes in the skyline and the significant amount of construction taking place. This neighborhood is growing and fast, with a number of NEW developments like Station Park, Google's second office, Young Condos and DTK currently underway and other developments like the transit hub, Q Condos, 30 Francis St.,10 Duke Street West and Phase 3 of Station Park scheduled to launch next year.
Over the last 3 years average prices have increased by over $100,000 in key condo buildings in that neighbourhood* with no indication of this growth slowing. If you're a renter or buyer and you've been thinking about purchasing, now may be a great time to do so before even further appreciation. For investors, this neighbourhood has huge growth potential and is already generating great ROI and cash flow. Check out our earlier blog post, Make Huge Returns Investing in Kitchener-Waterloo, to learn more about the returns our investor clients are seeing.
In addition to the exceptional pre-construction opportunities available, there are also a number of newly completed units for sale in buildings like Charlie West, 85 Duke and 100 Garment St. Condos and with pricing per sq.ft. typically lower than comparable Uptown Waterloo units. Take a look at some of the available listings here.
With the changing residential and commercial landscape, we also anticipate a natural increase in the number of available retail and restaurants in the neighbourhood. Abe Erb, a local Kitchener microbrewery, has recently re-launched and we’ve seen a number of exciting new businesses open such as AOK Craft Beer + Arcade, Crafty Ramen and Marche Leo's, an urban grocery store.
Over the next few years, we envision an Innovation District truly different from the one we know today. Keep a watchful eye for the transformation and contact Condo Culture to learn more about what the changes can mean for sellers, renters, buyers and investors. 2022 should bring some of the best projects that we’ve seen in years and we are excited to introduce you to them!
*Sale price statistics from Nov 2018-Nov 2021 for sales at 85 Duke St., 1 Victoria St. S., 404 & 410 King St. W., 276 King St. W. & 100 Garment St. Kitchener-Waterloo Association Realtors, 2021.