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General Urban Kitchener Updates and Rumours - Printable Version

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RE: General Urban Kitchener Updates and Rumours - tomh009 - 01-21-2015

(01-20-2015, 04:48 PM)MidTowner Wrote: I see your point. I couldn't agree more that downtown needs more people. We're all aware that a virtuous cycle involves residents attracting more services which in turn attract more residents. To play devil's advocate, I might suggest that services (and particularly ones that cater to residents rather than workers) is what is still needed: Kitchener's has traditionally been a "9-to-5" downtown with plenty of employees and not enough residents. Maybe we do need more restaurants, and more people living downtown to frequent them, but not particularly more office workers.

The office workers do provide lunch business for the restaurants, but much less so for dinner: for that, more residents will help.  So when 1 Victoria and City Centre are completed, it will be much easier for a restaurant to succeed in the downtown core.


RE: General Urban Kitchener Updates and Rumours - tomh009 - 01-21-2015

(01-20-2015, 11:33 PM)panamaniac Wrote: I doubt that there are any large Downtown office buildings without space for lease.  What they have available, however, is not what the market is looking for.  I was very glad to see 305 King W show that this gap can be bridged by converting traditional office space to more loft-like space.

I'm somewhat disappointed that DREAM has not made any (visible) moves in this direction with 55 King W.  It's a reasonably modern building that could be made much more attractive inside (and it has substantial vacancy as well).

Incidentally, the former TD Bank space at the street level would also make for a very nice restaurant.


RE: General Urban Kitchener Updates and Rumours - 519 - 01-21-2015

(01-20-2015, 07:48 AM)Spokes Wrote:
(01-19-2015, 11:44 AM)519 Wrote: I think Dream got more than they bargain for when they acquired the Market Square, 22 Frederick, and the Galleria from the previous owner a few years back.

I give them credit for trying to fix things up but obviously more need to be done.

Anyone know if they were owning it when TriOS college moved in?

No. TriOS was already a tenant. 

Here's an article about Dream's purchase (Dundee)
http://www.therecord.com/news-story/2569712-dundee-reit-to-acquire-kitchener-waterloo-properties/


RE: General Urban Kitchener Updates and Rumours - nms - 01-21-2015

(01-20-2015, 04:48 PM)MidTowner Wrote: I see your point. I couldn't agree more that downtown needs more people. We're all aware that a virtuous cycle involves residents attracting more services which in turn attract more residents. To play devil's advocate, I might suggest that services (and particularly ones that cater to residents rather than workers) is what is still needed: Kitchener's has traditionally been a "9-to-5" downtown with plenty of employees and not enough residents. Maybe we do need more restaurants, and more people living downtown to frequent them, but not particularly more office workers.

That having been said, all I did say was that, in my opinion and having been to the restaurant when it was one, this is a great building for a restaurant.

Traditionally, many of King Street storefronts had apartments above them that were occupied (sometimes) by the store's proprietors or in other cases by the general public.  Do any of these former apartments have a chance at being resurrected?  I seem to recall that some of the older (ie 1920s, 1930s era) apartments to the east along Weber or Duke have been purchased and/or renovated.  Has anyone seen statistics on the existing downtown residential vacancy rates?


RE: General Urban Kitchener Updates and Rumours - panamaniac - 01-21-2015

I believe that the space above the (now closed) Entertaining Elements was renovated for apartments. Likewise the space above Artisan Zone. The building at the Eby St end of Market Lane was recently renovated as a triplex apartment and the house at Duke St and Moyer Pl. also looks like it will become apartments (renvoations have resumed after a fire and a long period of inactivity). The Working Centre is also renovating the former Morning Glory Café location for affordable one bedroom units. I don't know what the vacancy rates are like, but there seem to be a lot of small projects like that going on.


RE: General Urban Kitchener Updates and Rumours - MidTowner - 01-21-2015

According to the last CMHC Rental Market Report, "Kitchener Central" (which is larging than merely downtown, extending for example east to the expressway) had a vacancy rate of 2%, compared with 2.3% as the Region as a whole. I have no idea where to get more details on what vacancy might be like in particular neighbourhoods.


RE: General Urban Kitchener Updates and Rumours - BuildingScout - 01-21-2015

That vacancy rate is for residential, as best as I understand, not commercial.


RE: General Urban Kitchener Updates and Rumours - Spokes - 01-22-2015

(01-21-2015, 04:57 PM)MidTowner Wrote: According to the last CMHC Rental Market Report, "Kitchener Central" (which is larging than merely downtown, extending for example east to the expressway) had a vacancy rate of 2%, compared with 2.3% as the Region as a whole. I have no idea where to get more details on what vacancy might be like in particular neighbourhoods.

I believe I heard Waterloo Region has one of the (if not the) lowest vacancy rates in the province.


RE: General Urban Kitchener Updates and Rumours - REnerd - 01-22-2015

I heard that Dake has closed its doors.  I have had a chance to drive by and have a look.

Can anyone confirm?  This would be a very sad loss...


RE: General Urban Kitchener Updates and Rumours - MidTowner - 01-22-2015

(01-21-2015, 05:03 PM)BuildingScout Wrote: That vacancy rate is for residential, as best as I understand, not commercial.

You're right. Panamaniac was talking about residential apartments.

(01-22-2015, 07:52 AM)Spokes Wrote: I believe I heard Waterloo Region has one of the (if not the) lowest vacancy rates in the province.

Guelph's is actually the lowest in the entire province, according to CMHC. Waterloo Region's is low, but there are lower. Again, this is all residential.