General Urban Kitchener Updates and Rumours

[Momo26]

Check out HouseSigma. Like I said if over asking it's by barely 10k or around 2.5%. Just priced a little lower to get SOME interest. 2 to 3 price slashes since last year seems the norm...

[Momo26]

Man it's insane. I remember taking a little tour for a unit in late 2023 that the builder had held back and it was a 1bd going for 500k with no parking. Nice unit but 1bd 0den and 0parking still.

That unit can be had for about 360 to 380k now.

[tomh009]

There are new build condos in Toronto where a large number of buyers are unable to get mortgages and are walking away.

I think a lot of those are buyers who were planning to flip the units pre-closing and were never intending to get a mortgage, let alone living in the unit.

A real estate agent may have told them it was a risk-free investment but that really wasn't the case ...

[panamaniac]

There are new build condos in Toronto where a large number of buyers are unable to get mortgages and are walking away.

I think a lot of those are buyers who were planning to flip the units pre-closing and were never intending to get a mortgage, let alone living in the unit.

A real estate agent may have told them it was a risk-free investment but that really wasn't the case ...

A risk-free investment?  I wonder if they got that in writing ....

[Momo26]

I know someone who bought a precon in Montreal. I think they begrudgingly closed on it last year, valued 150k less than original price and cannot even find a tenant now. He is now going after the real estate agent (probably won't amount to anything)

[panamaniac]

I know someone who bought a precon in Montreal.  I think they begrudgingly closed on it last year, valued 150k less than original price and cannot even find a tenant now. He is now going after the real estate agent (probably won't amount to anything)

Going after the real estate agent for his own lack of savvy?

[bravado]

I know someone who bought a precon in Montreal.  I think they begrudgingly closed on it last year, valued 150k less than original price and cannot even find a tenant now. He is now going after the real estate agent (probably won't amount to anything)

Going after the real estate agent for his own lack of savvy?

everyone knows that line go up = business genius, line go down = fraud

[Acitta]

The industrial land on Mill St. across the tracks from The Metz is for sale.     

[panamaniac]

After sitting unused for 70+ years. Personally, I always thought it would be a good location for a park.

[KevinL]

There's a bike path along the creek all the way from Homer Watson to Mill; I've always hoped they could extend it through here, add a railway crossing, and let it go through The Metz to connect to the IHT.

[tomh009]

There's a bike path along the creek all the way from Homer Watson to Mill; I've always hoped they could extend it through here, add a railway crossing, and let it go through The Metz to connect to the IHT.

The path now continues behind Meinzinger Park, all the way to Stirling, where it connects to the Stirling bike lanes and the trail through Lakeside Park.

Using this land to connect to the Metz (maybe using a tunnel rather than a level crossing?) would be an excellent addition to the grid.

[tomh009]

It's a big property, at 3.3 hectares (8.2 acres), but encumbered by a narrow strip (about 8m wide) connection to Mill St, and no connection to Stirling (the municipal address is actuall 326 Stirling Ave).

On the city property, there is maybe 4-5m between the creek and the property line. Probably the best outcome without combining other properties with this one would be a 2.5m or 3m MUT, half on the city property and half on the current 325 Stirling property (which half would need to be expropriated).

Really, the smart thing would be for the prospective developer to also acquire 338 Mill St (I think this is a small auto repair/sales shop) which would make the main property far more useful.

   

[ZEBuilder]

It's a big property, at 3.3 hectares (8.2 acres), but encumbered by a narrow strip (about 8m wide) connection to Mill St, and no connection to Stirling (the municipal address is actuall 326 Stirling Ave).

On the city property, there is maybe 4-5m between the creek and the property line. Probably the best outcome without combining other properties with this one would be a 2.5m or 3m MUT, half on the city property and half on the current 325 Stirling property (which half would need to be expropriated).

Really, the smart thing would be for the prospective developer to also acquire 338 Mill St (I think this is a small auto repair/sales shop) which would make the main property far more useful.

The property is zoned SGA-4 on the back half and SGA-3 closer to Mill so it wouldn't be surprising to get a Metz type development here. There's little NIMBYs can do anymore to stop development thankfully. This property is not likely to see any movement in terms of development for years with how much is in the pipeline by local developers, unless another player decides to enter the market. There are a few GTA developers who have been eyeing up Kitchener recently but I don't expect them to be looking at this end of downtown.

CN is likely the only ones who are going to be a pain to deal with when it comes to development here, they've been difficult to deal with on other projects in Kitchener along the spur (The Metz and Vierra Village/Inclusive on Courtland).

[panamaniac]

This is not a NIMBY neighbourhood. A connection underneath the tracks, as Schnieders once had, seems a no-brainer.

[KevinL]

There's a bike path along the creek all the way from Homer Watson to Mill; I've always hoped they could extend it through here, add a railway crossing, and let it go through The Metz to connect to the IHT.

The path now continues behind Meinzinger Park, all the way to Stirling, where it connects to the Stirling bike lanes and the trail through Lakeside Park.

Using this land to connect to the Metz (maybe using a tunnel rather than a level crossing?) would be an excellent addition to the grid.

The crossing at Homer Watson is rather poor; a formalized hard pad in the central boulevard would be a big help to link it up.