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General Urban Kitchener Updates and Rumours - Printable Version

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RE: General Urban Kitchener Updates and Rumours - MidTowner - 12-13-2016

Those national numbers of foreign resident buyers probably do not reflect the case in Kitchener: they are probably heavily skewed by the major markets.

The Kitchener Post article that rangersfan linked to seemed to suggest that 25% of buyers from out of market is not a big number, but it is extremely significant if true.

As for the number of units being sold for use as rental properties, I mostly hear those figures in relation to condominium units. But, bringing it back to Kitchener, I know of a number of examples in my and nearby neighbourhoods of people buying single-family homes in recent years in order to rent them out. These seem generally to be locals, and back-of-the-envelope math suggests these could not be cash flow positive based on their rents. That suggests speculation, and a bubble. And you’re right, Viewfromthe42, locals will have only themselves if that turns out to be the case.


RE: General Urban Kitchener Updates and Rumours - tomh009 - 12-13-2016

There will always be some people moving into the city (and also others moving out of the city) so even without any "GTA effect" the number would be non-zero, though I have no idea on whether it would be closer to 25% or closer to 0%.

But a lot of out-of-town buyers generally means a lot of people moving into the region. And I do think that's a good thing. This is indeed a good city to live in.


RE: General Urban Kitchener Updates and Rumours - tomh009 - 12-13-2016

Was this posted before? A block of four houses (134, 138, 142 and 146 Lancaster St W), just "W" of Wellington are for sale as a group, for redevelopment. Just over one acre (0.4 ha), they recommend brownstones or stacked townhomes. R-7 zoning allows for an apartment/condo building as well, but the L-shaped lot might make that challenging.

The asking price of $2.4M for an acre does seem a bit steep, though.


RE: General Urban Kitchener Updates and Rumours - Chris - 12-13-2016

(12-13-2016, 12:43 PM)tomh009 Wrote: Was this posted before?  A block of four houses (134, 138, 142 and 146 Lancaster St W), just "W" of Wellington are for sale as a group, for redevelopment.  Just over one acre (0.4 ha), they recommend brownstones or stacked townhomes.  R-7 zoning allows for an apartment/condo building as well, but the L-shaped lot might make that challenging.

The asking price of $2.4M for an acre does seem a bit steep, though.

It's also Hogg Fuel's front lawn so that would detract a little from any condo or housing project on that land.

https://www.google.ca/maps/@43.4635548,-80.4865113,270a,20y,90h,44.99t/data=!3m1!1e3


RE: General Urban Kitchener Updates and Rumours - tomh009 - 12-13-2016

$325K to $980K, depending really on the lot size (you're buying land here, there just happens to be an existing building on it). Here is the MLS listing:
https://www.realtor.ca/Commercial/Map.aspx#CultureId=1&ApplicationId=1&RecordsPerPage=9&MaximumResults=9&PropertySearchTypeId=0&TransactionTypeId=2&PropertyTypeGroupID=2&LongitudeMin=-80.48784576259615&LongitudeMax=-80.47987423740389&LatitudeMin=43.46164072147057&LatitudeMax=43.46549923786698&SortOrder=A&SortBy=1&viewState=m&Longitude=-80.48386&Latitude=43.46357


RE: General Urban Kitchener Updates and Rumours - panamaniac - 12-13-2016

You can ask whatever you want for land .....


RE: General Urban Kitchener Updates and Rumours - Canard - 12-19-2016

Does anyone know what is being built here?

[attachment=2902]

There is a big steel structure up now at least 4 stories or so.


RE: General Urban Kitchener Updates and Rumours - gomesjustin - 12-19-2016

(12-19-2016, 01:33 PM)Canard Wrote: Does anyone know what is being built here?



There is a big steel structure up now at least 4 stories or so.

I think it was discussed here: http://www.waterlooregionconnected.com/showthread.php?tid=4&page=17&highlight=Kingsbury

An office building it looks like


RE: General Urban Kitchener Updates and Rumours - Section ThirtyOne - 12-20-2016

(12-11-2016, 08:20 PM)tomh009 Wrote:
(12-11-2016, 02:10 PM)MidTowner Wrote: I fall somewhere in between you and MacBerry, who says he'd be surprised if they got $400,000. They're asking $570,000- that does seem ridiculous to me. But I've seen places in this part of the town which are in less than stellar shape go for over $400,000, and there has to be a premium for brand new construction with 21st century features. Usually, when you buy in a neighbourhood like this, you're getting something that has been adapted by potentially ten or twenty owners using various generations of technology, and I understand why some people may not be interested in that.

These are about 2000 sq ft, and apparently being built with high-end features.  Certainly if you compare to a larger condo unit (even a new townhouse condo unit such as 144 Park) the price tag doesn't look so bad.

I think they are pushing the envelope $570K, but I do believe they will be able to sell these for over $500K.

Agree completely.

New construction in a central, established neighbourhood will always carry a premium. In fact, my wife and I bought something similar a couple of years ago. We looked around at houses in the neighbourhood and what they were going for, crunched the renovation costs and decided that even if you renovate, you're left with a house that is 75+ years old and all that comes with it. Tough to put a price on a new home warranty and modern construction standards/layouts.


RE: General Urban Kitchener Updates and Rumours - MidTowner - 12-20-2016

(12-20-2016, 10:41 AM)Section ThirtyOne Wrote: Agree completely.

New construction in a central, established neighbourhood will always carry a premium. In fact, my wife and I bought something similar a couple of years ago. We looked around at houses in the neighbourhood and what they were going for, crunched the renovation costs and decided that even if you renovate, you're left with a house that is 75+ years old and all that comes with it. Tough to put a price on a new home warranty and modern construction standards/layouts.

Out of curiosity, what neighbourhood were you looking in and which did you wind up in?

We went through a similar decision-making process recently, and decided in the end that our fondness for an older house was worth something. But that’s a little idiosyncratic and there are any number of reasons why someone would prefer a newer home. The choice should be provided; it’s nice to know that it is, at least to an extent.


RE: General Urban Kitchener Updates and Rumours - Section ThirtyOne - 12-20-2016

(12-20-2016, 10:52 AM)MidTowner Wrote:
(12-20-2016, 10:41 AM)Section ThirtyOne Wrote: Agree completely.

New construction in a central, established neighbourhood will always carry a premium. In fact, my wife and I bought something similar a couple of years ago. We looked around at houses in the neighbourhood and what they were going for, crunched the renovation costs and decided that even if you renovate, you're left with a house that is 75+ years old and all that comes with it. Tough to put a price on a new home warranty and modern construction standards/layouts.

Out of curiosity, what neighbourhood were you looking in and which did you wind up in?

We went through a similar decision-making process recently, and decided in the end that our fondness for an older house was worth something. But that’s a little idiosyncratic and there are any number of reasons why someone would prefer a newer home. The choice should be provided; it’s nice to know that it is, at least to an extent.

We looked around Belmont Village and ended up in the area. In fact, our place was built by the same builder as these units being discussed. If these are built to the same standard as ours (and it appears they are similar), then the prospective buyer will not be disappointed.

As for your decision to go with an older home, I do understand. I have great respect for the beautiful older homes in the area!


RE: General Urban Kitchener Updates and Rumours - MidTowner - 12-20-2016

(12-20-2016, 12:02 PM)Section ThirtyOne Wrote: We looked around Belmont Village and ended up in the area. In fact, our place was built by the same builder as these units being discussed. If these are built to the same standard as ours (and it appears they are similar), then the prospective buyer will not be disappointed.

As for your decision to go with an older home, I do understand. I have great respect for the beautiful older homes in the area!

Diversity is good! We should have different housing options so that walkable neighbourhoods like yours and mine are accessible to everyone.


RE: General Urban Kitchener Updates and Rumours - Pheidippides - 12-31-2016

(02-23-2015, 04:46 PM)MidTowner Wrote: According to the building permits search on the City of Kitchener's web site, there are two permits for construction of single-family dwellings on two Duke Street lots that had been severed from a lot on Bismark Ave. I remember when the lot was for sale, it mentioned zoning for an apartment building- does that look like what's now going up?

It looks like this is what is going up on Bismark.
http://www.intownliving.ca/

The website seems confusing to me. They way I understand it they have a number of plans for the site and are just waiting for someone to pick (e.g. 2-story vs. 3-story).

Is this the same developer as around the corner on Duke St W across from Little City Farm? Architecture looks similar.

It looks like they have properties on Waterloo St as well:
https://www.coldwellbanker.ca/property/156-waterloo-street-kitchener-on-n2h3v7-mls-30548021
(they aren't mentioned in the electronic listing, but a hard copy one has the InTown logo on it)


RE: General Urban Kitchener Updates and Rumours - MidTowner - 12-31-2016

The MLS listing says 'four lots.' Those are 156 Waterloo (two semis), 8 Bismark and 10 Bismark. There is a demolition permit for the house at 156 Waterloo, but no building permit.

I can't really make heads or tails of the web site, either. It's less than straightforward. Semis would be good here, though.


RE: General Urban Kitchener Updates and Rumours - rangersfan - 01-03-2017

A little news on the former Zion United Church on Weber St.

http://m.therecord.com/news-story/7046272-former-zion-united-church-in-kitchener-won-t-be-demolished-owner-says