General Urban Kitchener Updates and Rumours

[GtwoK]

It's a proposal, and has been approved already AFAIK (outlines are present in the city's GIS)

[panamaniac]

This would be King and Wellington?

[MidTowner]

Another example of the area losing commercial amenities (in this case, a convenience store and a shawarma take-out restaurant), not to be replaced.

This won't be much of an issue soon, with other multi-use developments completed in a few years, but in principle it's senseless. This is King Street through the core, it should have street-facing commercial along its entire length, with few exceptions.

[danbrotherston]

Another example of the area losing commercial amenities (in this case, a convenience store and a shawarma take-out restaurant), not to be replaced.

This won't be much of an issue soon, with other multi-use developments completed in a few years, but in principle it's senseless. This is King Street through the core, it should have street-facing commercial along its entire length, with few exceptions.

I think this is key, and an important one. I think this is something that is missing from our communities is small community facing retail. It's something we don't build or build very little of when we are building new communities and I think it's a major problem. It would compound that problem if we start to lose it in the only real community we have left.

[CP42]

[danbrotherston]

Cool.

I'd be curious where Montreal lands on that list.

[tomh009]

More rental properties will help keep those increases down. Ophelia, Civic 66, Drewlo, 387 King and the new Duke/Madison project cannot come soon enough. At least Market Flats should be ready for occupancy in the next six months. Ophelia and Civic 66 sometime next year maybe?

[panamaniac]

Will they, or will they be above-average rents, I wonder?

[danbrotherston]

Will they, or will they be above-average rents, I wonder?

Will they be above average. Almost certainly...new builds are usually going to be above average, especially larger ones.


Does that mean they will cause the average to go up? That is much less clear. It depends much more on market forces, than it does on a the specific units added.

That being said, I really don't expect the average to go down, but I expect it to go up less than it would have.

[tomh009]

That being said, I really don't expect the average to go down, but I expect it to go up less than it would have.

Exactly. Additional supply should moderate the increases.

The Drewlo development will be the biggest impact in terms of units, but every building helps, and reduces the need to rent a condo rather than a rental unit.

Oh, and I forgot about phase 2 of Woodside.

[BruceAshe]

More rental properties will help keep those increases down. Ophelia, Civic 66, Drewlo, 387 King and the new Duke/Madison project cannot come soon enough. At least Market Flats should be ready for occupancy in the next six months. Ophelia and Civic 66 sometime next year maybe?

Market Flats has been advertised on Facebook Marketplace for a couple of weeks and the ads say January occupancy. One bedrooms start at $1630+ and two bedrooms start at $2195+.

[Lens]

More rental properties will help keep those increases down. Ophelia, Civic 66, Drewlo, 387 King and the new Duke/Madison project cannot come soon enough. At least Market Flats should be ready for occupancy in the next six months. Ophelia and Civic 66 sometime next year maybe?

Market Flats has been advertised on Facebook Marketplace for a couple of weeks and the ads say January occupancy. One bedrooms start at $1630+ and two bedrooms start at $2195+.

Expect every new rental building being built right now to exceed these rents. In an ideal world that would release pressure lower in the market but our vacancy is so tight that it won't do anything. I recall a previous company I worked for had a 2 bedroom unit available in an old building that was renovated but definitely not high end. The rent was about $1400 but the types of applicants they got were making $75,000+ simply because there were no higher end units or condos available at that time. Essentially what happens is people on the lower price spectrum are competing with EVERYONE else for any available unit, no matte the quality or condition. I don't think I need to explain how bad this is for our housing situation...

[ac3r]

$1630 for 1 bedroom is insanity.

[tomh009]

Market Flats has been advertised on Facebook Marketplace for a couple of weeks and the ads say January occupancy. One bedrooms start at $1630+ and two bedrooms start at $2195+.

Expect every new rental building being built right now to exceed these rents. In an ideal world that would release pressure lower in the market but our vacancy is so tight that it won't do anything. I recall a previous company I worked for had a 2 bedroom unit available in an old building that was renovated but definitely not high end. The rent was about $1400 but the types of applicants they got were making $75,000+ simply because there were no higher end units or condos available at that time. Essentially what happens is people on the lower price spectrum are competing with EVERYONE else for any available unit, no matte the quality or condition. I don't think I need to explain how bad this is for our housing situation...

So, in that scenario, those people with $75K of income can now sign up for a flat at Market Flats (at $1630) and the people with less income will be able to get the one at $1400.

Regardless of where this is on the price spectrum, it still helps to relieve the pressure.

[GtwoK]

Where is this from out of curiosity? Wanted to read a bit more about it and googling isn't helping