10-15-2017, 08:15 AM
https://www.therecord.com/news-story/731...r-decades/
KITCHENER — Before the city's oldest retailer had time to settle into a new location on Belmont Avenue, its former home in a historic building in the downtown was leased to a local tech company.
Schreiter's Home Furnishings opened earlier this month at 482 Belmont Ave. W., near Gage Avenue, after decades at 27 Gaukel St.
The Gaukel Street building was acquired last year by Vanguard Developments Corp., and even before work started on renovations it was leased to a local technology company.
Vanguard plans to spend millions on the renovations, and says the tech company will make its own announcement about the move into downtown Kitchener.
"We are renovating the whole space into classic brick-and-beam office space," said Vanguard co-owner Tom Rakic.
The building has 26,000-square-feet of space on the three floors. It will be the latest historic building in the city centre to be restored and occupied by a tech firm.
"They are going to be in mid-to-late fall," Rakic said of the new tenant.
As traditional retail and manufacturing recede from the city centre, tech companies and condo developers are moving in. The trend shows no signs of stopping and is changing the face of the core.
The former Schreiter's building is located across Gaukel Street from where developers Momentum Partnership and Zehr Group plan to put up a 26-storey condo building called Charlie West.
"I think the opportunity is so amazing, and we are still in the early stages," Rakic said of the potential for the redevelopment of empty and underused spaces in and around the downtown.
Demand for interesting workplaces in old buildings, and attractive units in multi-residential buildings are both driven by the expanding tech sector in the downtown, he said.
Vanguard partnered with Woodhouse Developments to buy and renovate the building at 27 Gaukel St. That address is deeply rooted in the city's commercial history.
Alvin G. Schreiter started in the furniture business in Boutzin, Germany, in 1873. He came to Kitchener, known as Berlin at the time, and opened a furniture business at 52 King St. W. in 1882. The business later moved to 63 King St. W.
In 1912, the business moved to the Simpson Furniture Factory at 117 King St. W. where the Matter of Taste coffee shop is now located. Working there with his two sons, Alvin and Herbert C., the German immigrant oversaw the region's largest business, making, selling and repairing furnishings.
In 1929, the furniture business became a separate company called The Deluxe Upholstering Co., which later became La-Z-Boy Canada. That same year, the Schreiter family acquired control of the furniture store.
The former Schreiter's building is listed on the City of Kitchener's register of culturally significant properties. That means the building can quickly be protected under the Ontario Heritage Act with a single vote by city councillors.
The former Schreiter's building is the second downtown property Vanguard purchased. The other property is the former Schlichter's Automotive building at 132 Queen St. S.
"We are about 55 per cent leased up there, and we are seeing a lot of action from these medium-sized companies that are going from a startup to a more established size, and are looking for 8,000 to 10,000 square feet," said Rakic.
tpender@therecord.com , Twitter: @PenderRecord
KITCHENER — Before the city's oldest retailer had time to settle into a new location on Belmont Avenue, its former home in a historic building in the downtown was leased to a local tech company.
Schreiter's Home Furnishings opened earlier this month at 482 Belmont Ave. W., near Gage Avenue, after decades at 27 Gaukel St.
The Gaukel Street building was acquired last year by Vanguard Developments Corp., and even before work started on renovations it was leased to a local technology company.
Vanguard plans to spend millions on the renovations, and says the tech company will make its own announcement about the move into downtown Kitchener.
"We are renovating the whole space into classic brick-and-beam office space," said Vanguard co-owner Tom Rakic.
The building has 26,000-square-feet of space on the three floors. It will be the latest historic building in the city centre to be restored and occupied by a tech firm.
"They are going to be in mid-to-late fall," Rakic said of the new tenant.
As traditional retail and manufacturing recede from the city centre, tech companies and condo developers are moving in. The trend shows no signs of stopping and is changing the face of the core.
The former Schreiter's building is located across Gaukel Street from where developers Momentum Partnership and Zehr Group plan to put up a 26-storey condo building called Charlie West.
"I think the opportunity is so amazing, and we are still in the early stages," Rakic said of the potential for the redevelopment of empty and underused spaces in and around the downtown.
Demand for interesting workplaces in old buildings, and attractive units in multi-residential buildings are both driven by the expanding tech sector in the downtown, he said.
Vanguard partnered with Woodhouse Developments to buy and renovate the building at 27 Gaukel St. That address is deeply rooted in the city's commercial history.
Alvin G. Schreiter started in the furniture business in Boutzin, Germany, in 1873. He came to Kitchener, known as Berlin at the time, and opened a furniture business at 52 King St. W. in 1882. The business later moved to 63 King St. W.
In 1912, the business moved to the Simpson Furniture Factory at 117 King St. W. where the Matter of Taste coffee shop is now located. Working there with his two sons, Alvin and Herbert C., the German immigrant oversaw the region's largest business, making, selling and repairing furnishings.
In 1929, the furniture business became a separate company called The Deluxe Upholstering Co., which later became La-Z-Boy Canada. That same year, the Schreiter family acquired control of the furniture store.
The former Schreiter's building is listed on the City of Kitchener's register of culturally significant properties. That means the building can quickly be protected under the Ontario Heritage Act with a single vote by city councillors.
The former Schreiter's building is the second downtown property Vanguard purchased. The other property is the former Schlichter's Automotive building at 132 Queen St. S.
"We are about 55 per cent leased up there, and we are seeing a lot of action from these medium-sized companies that are going from a startup to a more established size, and are looking for 8,000 to 10,000 square feet," said Rakic.
tpender@therecord.com , Twitter: @PenderRecord