Tag Archives: kaufman lofts

Out With The Car Lots, In With Two More Towers

A builder from Guelph has bought a 2.4 acre block of downtown Kitchener – bordered by Madison, King, Cameron and Charles – for $3.6 million, or $1,500,000 per acre.

 

Click map to enlarge

Fusion Homes bought the property and plans to put two highrise towers on site, plus townhouses and some retail.

From The Record:

“We are planning a substantial mixed-use development on the property,” Lee Piccoli, president of Fusion Homes, said.

At least two highrise buildings are to be constructed and very likely some townhouses as well. The company will look into the demand for office and retail space in that area, but that will not be a large part of the project.

Piccoli did not want to speculate on when construction will begin.

“I am very bullish on downtown Kitchener,” Piccoli said. “When the opportunity came up, we jumped at it.”

Surface-parking lots now dominate the block where a used-car lot and a car rental agency operate.

“I think as a developer you’re always trying to see something, not as it looks now, but as it looks three or five years from now. So that is something that we found really attractive about the property,” Piccoli said.

King Street East has seen slow, steady improvement since the City of Kitchener built the $22-million farmers’ market, which opened in 2005.

Since then, three bakeries, two restaurants and a small grocery store have opened on adjacent blocks. Abandoned homes on Madison, Eby, Cedar and Duke streets have been renovated and occupied.

Fusion Homes’ move follows, by six years, the creation of a special program — called the economic development investment fund — that pumped about $100 million into different downtown projects.

“The mayor and the council seem really committed to the redevelopment,” Piccoli said.

The past 10 years have seen a growing list of high-density development in the core and central neighbourhoods, including — the Sandhills development and Iron Horse Towers on Queen Street South, the Kaufman Lofts on King Street, Lofts on Mansion, Le Marche Residences behind Your Kitchener Market, The Regency at Queen and Weber streets and the Drewlo apartments on Victoria Street South adjacent to Victoria Park.

Read the whole article

Over at WonderfulWaterloo.com, we’ve been talking about the need for a grocery store downtown. Looks like the City also sees the need. While looking over the zoning for the King Street East mixed0use corridor, I found this:

“Two submissions were received requesting that staff consider an increase to the amount of permitted retail floor space. One submission made this suggestion citing the example of a food store use that would require greater leasable floor area than the 1,000 square metre limit currently defined in the Official Plan and MU Zones. Staff agree that 1,000 square metre limit on retail floor area could preclude a larger format food store use. Staff are also of the opinion that a larger format food store use would be consistent with the Official Plan Policy intent to serve adjacent residential neighbourhoods, and further could be catalytic for future residential intensification within the corridor. Staff note that a large food store may not be appropriate in all areas of the Mixed Use Corridor, and therefore propose to focus the applicable Official Plan Policies and Zoning provision enabling such a use to a the portion of the King Street East Mixed Use Corridor located between King Street East, Charles Street East, Preston Avenue and Cedar Street South.

Official Plan Amendment OP09/04/COK/HH and a revision to the draft proposed zoning in the King Street East Mixed Use Corridor were drafted to implement this suggested revision. Staff recommend increasing the retail floor space limit from 1,000 square metres to up to 5,000 square metres on the ground floor for food store use provided that it be internal to a large mixed use development.”

From: http://kitchener.ca/en/businessinkit…ningreport.pdf

Between this proposed development and the City Centre condos by Andrin, there are four new towers coming to a downtown King Street in the next few years, plus a lot of infrastructure development like the new Kitchener Transit Hub. Pretty cool!

What do you think?

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9 Reasons to Invest in Kitchener Waterloo Real Estate, REIN Top 10 Report Edition

KW Tops REIN Top 10 List

Kitchener Waterloo is Ontario’s top Real Estate Investment Destination, again.

Well, it’s that time of year again. Kitchener Waterloo is getting some more much deserved attention from Canadian Real Estate Investors all across the country.

KW has been named the top real estate investment destination in Ontario by the Real Estate Investment Network for a couple years in a row (see: Kitchener Waterloo Real Estate ranked #1 again), and this year the trend continues.

REIN released the REIN Top 10 list that named Kitchener Waterloo the #2 investment destination in Canada, and tops in Ontario again.

From CTV News:


The Record reports:
REIN “refers to Waterloo Region as the “economic Alberta of Ontario.”
That means Waterloo Region is seen not only as the economic engine of the new Ontario economy, but also that it “will outperform all other major regions in eastern Canada,” says REIN president Don Campbell
For indicators, he points to job growth, student growth and a new light rapid-transit system.”

Why are real estate investors focused on our city? Let’s take a look at the reasons why people like buying investment property in Kitchener Waterloo

Top 9 Reasons People Are Investing in Kitchener Waterloo Real Estate Now

1. Top Area to Invest – The Real Estate Investment Network named Kitchener Waterloo & Cambridge (“the Technology Triangle”) the #1 city to invest in Ontario and #2 in Canada, behind Calgary.

2. Low Interest Rates. currently we have very low interest rates – although there is a slight upward trend right now – which makes NOW a great time to invest. Rates will be going up in the future. It’s a matter of how soon, and how much. Smart real estate investors are taking advantage of historically affordable cost of borrowing money.

3. Great prices – Investors love Kitchener Waterloo because it has a booming economy, without big city property prices. Our clients invest in condos ranging from $120,000 on up, and there are opportunities to buy multi-family housing with cap rates of 7%, leaving room for healthy cash flow with today’s low interest rates.

You can buy good quality new construction rental units here (like City Centre, 144 Park, Bauer Lofts and others), for much less than you’d pay for an older condo in Toronto. (That’s what our cilents from Toronto happily do, over and over again).

4. Growth – Kitchener Waterloo is growing at a rapid rate. If you haven’t been here in a few years, just drive down King St! There are mulitple mega million dollar developments that are underway or have been completed recently – The Bauer Lofts, The Barrel Yards, City Centre, 144 Park, the Arrow Lofts, Kaufman Lofts, the new McMaster medical school and University of Waterloo Pharmacy school, the new King St streetscape in downtown, the new Uptown Waterloo, the Kitchener Market, Market lofts; and LOTS of development in the university areas as well.

Also, the University of Waterloo has recently announced plans to double it’s footprint over the next 40 years. See Is Waterloo’s Student Housing Market Being Over Built?
5. Stable, Diverse Economy – Kitchener Waterloo is a market supported by strong fundamentals – world class high tech companies, universities and NGOs; a strong manufacturing sector; proximity to Toronto and the United States; an international airport; continued job growth etc.

In the July 2010 figures released by Stats Canada, the jobless rate of the KW area fell, while national unemployment rose.

6. Access to Property Management – all of our clients have access to world class property management for a very reasonable rate. Contact me for more details !

7. Great Business Community – Major companies and organizations call the Technology Triangle home including RIM (makers of the blackberry), Toyota, OpenText, Manulife, Sunlife, the Perimetere Institute, the Centre for International Governance Innovation, and a host of world class local companies.

8. Awesome, Smart People: Kitchener Waterloo is the MOST INTELLIGENT COMMUNITY IN THE WORLD. Take that Toronto

9. Great Resource – You have found a real estate agent and Wealth Building team that is focused on building your wealth!

What are some of the reasons you like investing in Kitchener Waterloo? Let us know in the comments!

 

Investing in Condos, Kitchener Waterloo

Condo Investing

Interesting in buying a condo? Wondering between new construction projects?

Read these articles, then email or phone me to set up a personal condo consultation

Investing in New Construction Condos in Kitchener Waterloo

Dont Get Burned – 3 things to check out when buying a Condo in Waterloo

Top 9 Reasons You Should Invest in KW Real Estate

The Kaufman Lofts

The Kaufman Lofts in Kitchener Waterloo – an Investor’s Perspective

What is a condo at Kaufman Lofts in Kitchener Worth?

Why do Real Estate Investors like the Kaufman Lofts?

New Construction Condominiums

City Centre Condos (Centre Block) by Andrin Homes

Centre Block to bring $95 million development to Kitchener downtown

 

Bauer Lofts, Waterloo

What are Bauer Lofts in Waterloo, Ontario selling for?

Bauer in Waterloo filled, Cambridge place still half empty

Dinner out at Bauer Kitchen @ the Bauer Lofts in Waterloo

You can Live in Waterloo’s Bauer Lofts !

 

144 Park, Waterloo

Waterloo City Staff recommend Proposal for 144 Park Condo be approved

Why do people love the area near 144 Park condos in Waterloo?

Video of 144 Park – Luxury Waterloo Condo Project

Pictures of 144 Park Condo Sales Centre

Construction of 144 Park Condos in Waterloo estimated at $21 million

Why is 144 Park The Hottest New Condo In Waterloo?

144 Park Condos in Waterloo Ontario – New Luxury Lofts in Waterloo

 

Barrel Yards, Waterloo

News on the Barrel Yards Development in Waterloo, Ontario

KW is REIN’s #1 Real Estate Investment Spot in Ontario, again

Hot on the heels of last year’s report, REIN, the Real Estate Investment Network, published their report naming Kitchener, Waterloo and Cambridge Ontario the #1 place in Ontario to invest in real estate.

Why does REIN consistently rank Kitchener Waterloo #1 ?

Here are the Top 9 Reasons You Should Invest in Kitchener Waterloo Real Estate

1. Growth – Kitchener Waterloo is growing at a rapid rate. If you haven’t been here in a few years, just drive down King St! There are mulitple mega million dollar developments that are underway or have been completed recently – The Bauer Lofts, The Barrel Yards, the Arrow Lofts, Kaufman Lofts, the new McMaster medical school and University of Waterloo Pharmacy school, the new King St streetscape in downtown, the new Uptown Waterloo, the Kitchener Market, Market lofts; and LOTS of development in the university areas as well.

Also, the University of Waterloo has recently announced plans to double it’s footprint over the next 40 years. See Is Waterloo’s Student Housing Market Being Over Built?

2. Great prices – Investors love Kitchener Waterloo because it has a booming economy, without big city property prices.  Our clients invest in condos ranging from $120,000 on up, and there are opportunities to buy multi-family housing with cap rates of 7%, leaving room for healthy cash flow with today’s low interest rates.You can buy good quality new construction rental units here, for much less than you’d pay for an older condo in Toronto.  (That’s what our cilents from Toronto happily do, over and over again).

3 – Low Interest Rates – It is now more affordable to borrow money, making it a great time to buy investment real estate

For the complete article, click here: Top 9 Reasons You Should Invest in Kitchener Waterloo Real Estate or watch this video:

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Learn why REIN says Kitchener Waterloo is the #1 Investment Real Estate spot in Ontario

The Real Estate Investment Network, REIN, released a new report this week which named Kitchener, Waterloo and Cambridge Ontario the #1 place in Ontario to invest in real estate.

Why does REIN consistently rank Kitchener Waterloo #1 ?

Here are the Top 9 Reasons You Should Invest in Kitchener Waterloo Real Estate

#1 – consistently ranked as the top spot to invest in real estate in Ontario, and #2 in Canada as per REIN

#2 Low Interest Rates – It is now more affordable to borrow money, making it a great time to buy investment real estate

#3 Great Prices

For the complete article, click here: Top 9 Reasons You Should Invest in Kitchener Waterloo Real Estate or watch this video:  Top 9 Reasons You Should Invest in Kitchener Waterloo Real Estate, or Why REIN loves KW

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Kitchener Waterloo Real Estate news, week of June 21 2010

Kitchener Waterloo Real Estate news

(originally posted by Benjamin Bach on 26. Jun, 2010 in Local Kitchener Waterloo, Real Estate Investment at http://www.kitchener-waterloo-real-estate-investments.com)

Here are some articles about Kitchener Waterloo Real Estate that were posted on our other blog this week.

An excerpt of each article is included.  Click the title to read the full blog.

Google moves offices from Waterloo to Kitchener’s Tannery

Big news for downtown Kitchener: Google is moving it’s offices from Waterloo’s Tech Town (in the U of Waterloo research and technology park) to the Tannery District in downtown Kitchener.

Google moves from Waterloo to Kitchener Tannery District

This is great for downtown Kitchener, and will prove to be especially profitable for our clients who own investment condo’s at the Kaufman Lofts (one block adjacent) and other downtown Kitchener Condos.

Ontario Rent Increase Guideline for 2011 is pretty low

0.7%  to be exact, the lowest it’s been since the government of Canada implemented guidelines around the amount that real estate investors could increase the rents in their investment property each year.

From The Record:

The guideline is the maximum amount a landlord can increase the rent of most sitting tenants without seeking approval of the Landlord and Tenant Board.

The 2011 guideline applies to rent increases that occur between January 1 and December 31, 2011.

The calculation is based on the Ontario Consumer Price Index.

New Kitchener Condo development splits local opinion

Fresh off our discussion of the new Condos, Hotel, and Commercial real estate coming toWaterloo –  the Barrel Yards, here is some information about a new development going in donwtown Kitchener at 30-40 Margaret Ave.

30-40MargaretAve-HIA-figure6perspec

I happen to think it’s a great addition to the area!  Read the article from today’s Record, and leave a comment below!

News on the Barrel Yards Development in Waterloo, Ontario

The Record has an article in this morning’s paper about a major development underway in Waterloo, Ontario – The Barrel Yards – which will bring the Kitchener Waterloo real estate market some very high quality product over the next few years

2010-0511

When completed, the Barrel Yards – located at the corner of Erb Street and Father David Bauer Drive in uptown Waterloo, Ontario – will be home to a hotel, condos, rental apartments, commercial real estate (office & retail space)  and townhouses

Kitchener Waterloo Earthquake!!!

There was just an earthquake in South Western Ontario, felt in Montreal, Ottawa, Toronto, New York, and here where I am, in Kitchener Waterloo.  That is a rather large span.  No words on aftershocks yet.

REALTORS discuss HST & Real Estate in Ontario

From The Kitchener Waterloo Real Estate Board blog:

On Thursday June 17th, 2010, 16 leaders from Waterloo Region’s real estate industry, including REALTOR® members of the Kitchener-Waterloo Real Estate Board (KWREB), Cambridge Real Estate Board, staff, and a representative of the Waterloo Home Builder’s Association met with Ontario PC Leader Tim Hudak at KWREB’s offices to discuss how the HST will impact the real estate industry and to explore ways in which to help moderate its impact.

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Want to Invest in Kaufman Lofts in Kitchener?

…here is some information you’ll need!

A real estate investor recently asked me why people like buying condos at the Kaufman Lofts in Kitchener, Ontario

Between the terrific location (across from the new Health Sciences campus at the corner of King and Victoria St in downtown Kitchener), the iconic nature of the property – Kaufman Footwear has been there since the early 20th century – and the premier rents the condos generate, they can make a great real estate investment.

Along with desireable addresses like the Bauer Lofts and 144 Park in Waterloo, Kaufman Lofts are a premier building in the region. 

Click Play to watch the video. This looks at the reasons investors like buying condos here, and goes through the potential cash flow that the rental unit can generate.

Let’s assume a real estate investor is looking at a 1 bedroom condo here. There are units available around $180,000 – a unit at this price is amongst the smallest available, but still in demand by buyers and tenants alike.

(These figures are all projections. Contact Benjamin for a personalized consultation)

kaufman lofts real estate rental analysis

The sheet above (click to enlarge it) shows us the assumptions we’re using:

$1200 a month in rent

$3000 condo fee and $1700 in property tax annually etc.

It also shows us the mortgage options – this investor is using a 20% downpayment, and getting a 80% LTV (Loan to Value) mortgage.

Now let’s look at the cash flow (click to enlarge):

kaufman lofts real estate rental analysis 2As we can see, a Kaufman Loft can generate a positive cash flow for a real estate investor, based on these figures.

Over 20 years, what will your return on equity be? Let’s look at another cash flow projection:

Click to enlarge

For more information on Kaufman Lofts and other condos in Kitchener, contact Benjamin Bach @ Benjamin@BenjaminBach.com, or call me at 519-772-4376

Why do Real Estate Investors like the Kaufman Lofts?

by Benjamin Bach, the Wealth Team on 10. Apr, 2010 in Featured Articles, Real Estate Investment, kitchener waterloo { Edit }

A real estate investor recently asked me why people like buying condos at the Kaufman Lofts in Kitchener, Ontario 

Between the terrific location (across from the new Health Sciences campus at the corner of King and Victoria St in downtown Kitchener), the iconic nature of the property – Kaufman Footwear has been there since the early 20th century – and the premier rents the condos generate, they can make a great real estate investment

Along with desireable addresses like the Bauer Lofts and 144 Park in Waterloo, Kaufman Lofts are a premier building in the region.  

Click Play to watch the video. This looks at the reasons investors like buying condos here, and goes through the potential cash flow that the rental unit can generate.
A real estate investor recently asked me why people like buying condos at the Kaufman Lofts in Kitchener, Ontario 

Between the terrific location (across from the new Health Sciences campus at the corner of King and Victoria St in downtown Kitchener), the iconic nature of the property – Kaufman Footwear has been there since the early 20th century – and the premier rents the condos generate, they can make a great real estate investment. 

Click Play to watch the video. This looks at the reasons investors like buying condos here, and goes through the potential cash flow that the rental unit can generate.
 

Let’s assume a real estate investor is looking at a 1 bedroom condo here. There are units available around $180,000 – a unit at this price is amongst the smallest available, but still in demand by buyers and tenants alike. 

(These figures are all projections. Contact Benjamin for a personalized consultation)
 

kaufman lofts real estate rental analysis 

The sheet above (click to enlarge it) shows us the assumptions we’re using: 

$1200 a month in rent 

$3000 condo fee and $1700 in property tax annually etc. 

It also shows us the mortgage options – this investor is using a 20% downpayment, and getting a 80% LTV (Loan to Value) mortgage. 

Now let’s look at the cash flow (click to enlarge): 

kaufman lofts real estate rental analysis 2As we can see, a Kaufman Loft can generate a positive cash flow for a real estate investor, based on these figures. 

Over 20 years, what will your return on equity be? Let’s look at another cash flow projection: 

Click to enlarge 

For more information on Kaufman Lofts and other condos in Kitchener, contact Benjamin Bach @ Benjamin@BenjaminBach.com, or call me at 519-772-4376 

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