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Duke Tower Kitchener | 33fl | Proposed
(09-20-2018, 01:42 PM)Rainrider22 Wrote:
(09-20-2018, 01:03 PM)tomh009 Wrote: When I talked to them in May, they were already at over 50%, so selling out (or close enough to selling out, to close the sales office) is quite conceivable.

WOW,  thats great to hear.  I hope that is the case.  That kind of success should ensure continued development

(09-20-2018, 03:39 PM)Spokes Wrote: I wouldn't be THAT surprised. The condo market is HOT right now

Remember that all of these new buildings (Charlie, Garment, this one) are completely snatched by investors. They buy 20+ units at a time! And usually months before it goes on sale to the public.
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(09-21-2018, 11:02 AM)urbd Wrote:
(09-20-2018, 03:39 PM)Spokes Wrote: I wouldn't be THAT surprised. The condo market is HOT right now

Remember that all of these new buildings (Charlie, Garment, this one) are completely snatched by investors. They buy 20+ units at a time! And usually months before it goes on sale to the public.

Not all investors, there will be owners living there too. And many investors are individual people buying single units to rent out.
We need more rental housing to calm down the investor condo frenzy.
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(09-21-2018, 11:02 AM)urbd Wrote: Remember that all of these new buildings (Charlie, Garment, this one) are completely snatched by investors. They buy 20+ units at a time! And usually months before it goes on sale to the public.

Definitely not all. I bought a unit at Charlie West to live in, and I had a number of units to choose from at the time I was buying (and I wasn't invited to any pre-sales or anything).
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(09-21-2018, 02:40 PM)tomh009 Wrote:
(09-21-2018, 11:02 AM)urbd Wrote: Remember that all of these new buildings (Charlie, Garment, this one) are completely snatched by investors. They buy 20+ units at a time! And usually months before it goes on sale to the public.

Not all investors, there will be owners living there too. And many investors are individual people buying single units to rent out.
We need more rental housing to calm down the investor condo frenzy.

I thought I saw somewhere that Waterloo Region has the lowest vacancy rate for rentals in the province. Or country .
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(09-21-2018, 06:05 PM)Spokes Wrote:
(09-21-2018, 02:40 PM)tomh009 Wrote: Not all investors, there will be owners living there too. And many investors are individual people buying single units to rent out.
We need more rental housing to calm down the investor condo frenzy.

I thought I saw somewhere that Waterloo Region has the lowest vacancy rate for rentals in the province. Or country .

We do. We really needs those units coming online, and the one Drewlo is doing in DTK isn't going to be enough. But I also suppose the low vacancy rate is driving these investors to buy up these units.
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It looks like demolition will soon begin at the DTK site.  This morning the fence that surrounded the buildings on Duke Street has been moved right up to the ION right of way.  As you might expect, pedestrians are now using the ION right of way rather than crossing to the other side of the street.  Also, a small backhoe was brought in this morning.

   
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They better start demolition soon. Last night on the scanner I heard about homeless people breaking a window in the church and having a fire inside!
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Demolition started today. 

   
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Awesome! Anyone who's around, keep those updates coming!
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