by Warren McNeil,
The Arrow Lofts are nearing completion and will be available in the winter of 2011. If you want to be in a downtown Kitchener condo, the Arrow Lofts might be just what you are searcing for. Pricing starts in the 200s and goes up to 600,000.
For a complete list of all the floorplans and pricing please contact us. Right now for a limited time there is special agent pricing and buyer incentive program.
This is just another development besides the Centre City Living condos by Andrin which are located in the Centre Block.
Check out this video I did about the new development.
Video added June 8th, 2011
Thanks for reading!
By Warren McNeil Very intersting report by Re/Max today. The report states that 1 in 5 houses sold in Kitchener Waterloo is a condominium. This is definitely evident to me because I am seeing many new construction condo developments in Kitchener Waterloo recently.
Here is a quick list of all of the condominium developments in Kitchener Waterloo:
1. Center City Living lofts/condos by Andrin Homes - downtown Kitchener
2. Arrow Lofts by Auburn Developments - downtown Kitchener
3. 144 Park – uptown Waterloo
4. The 42 – uptown Waterloo
5. 45 degrees - King St and Columbia Street Waterloo
6. Reflections By Urbanera- Laurelwood North Waterloo
7. University Village – Highland and Ira Needles Kitchener
8: Chicopee Forest Freehold Condos – Woolner and Upper Mercer Kitchener
9. Westmount Grand – Erb St and Westmount Rd Waterloo
10. The Tanglewoods – Bleams Rd Kitchener
The report also mentions that investors are buying entry-level product near universities and using them as rentals. Investors are also looking for longer term investments and are buying nicer more luxurious condos to keep for the market appreciation. One thing’s for sure, there is no shortage of condos in Kitchener Waterloo.
Here is the report for RE/Max Ontario Atlantic
Nov. 1, 2010
Given serious escalation in detached housing values, condominium apartments and towns have now emerged as the first step to homeownership, says RE/MAX Ontario-Atlantic Canada.
Affordability has fuelled buying activity across the board, according to the 2010 RE/MAX Condominium Report, highlighting trends and developments in eight Ontario markets and one in Nova Scotia. Condominiums now represent one in every three homes sold in the Greater Toronto Area; close to one in every four homes sold in Ottawa and Hamilton-Burlington; and almost one in every five homes sold in London, Kitchener-Waterloo, and Collingwood. The trend has translated into a solid upswing in unit sales activity, with 78 per cent of markets posting an increase in year-to-date sales (January – September 2010 vs. 2009)-with percentage gains outperforming overall residential sales in most
markets examined.
“As one of few affordable housing options available to first-time buyers, the concept is poised for dramatic growth in years to come,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “The lifestyle has also gained a foothold with younger, hipper audiences, as the definition of homeownership evolves with the changing demographic. Dreams of the small home with a white picket fence are being replaced by the funky loft apartment in close proximity to shops, restaurants, and entertainment.”
Other factors that support an escalation in condominium sales include an expanding population base, especially in areas like Barrie which saw a 21 per cent increase in the 2006 census. Immigration and inmigration will also play a role, with at least half of new immigrants settling in Ontario – and more specifically, the Golden Horseshoe. Urban renewal and intensification also add to the mix, drawing younger purchasers to the downtown core of major urban centres.
While the greatest activity continues to occur in the lower price points-under $200,000 in areas like Ottawa, Barrie, and London and under $300,000 in Toronto and Collingwood-luxury product is also attracting more affluent empty-nesters and retirees to the maintenance-free lifestyle. Condominium sales in the GTA over the $1,000,000 price point have seen a 49 per cent increase year-over-year, while condos priced in excess of $450,000 in Ottawa have seen sales jump 72 per cent compared to the same period in 2009.
Investors are also an active part of the equation, spurring demand for entry-level resale product in college and university towns like London, Kitchener-Waterloo, and Barrie-in the hopes of cashing in on student housing. New construction in major centres has also experienced an increase in investment activity-with the vast majority of units in Toronto’s downtown core purchased by Asian and Middle Eastern investors as a long-term hold.
“Unlike 1989, when a flood of new condominium listings wreaked havoc on the market, these purchasers are in for the long haul,” says Polzler. “Leverage is not a factor, with most paying cash for their units. If they can’t sell their apartments, they’re more than prepared to rent them out.”
RE/MAX is Canada’s leader with over 18,000 sales associates situated throughout its more than 690 independently-owned and operated offices in Canada. The RE/MAX network, now in its 37th year, is a global real estate system operating in 80 countries, with over 6,300 ndependently-owned offices and over 92,000 member sales associates. RE/MAX realtors lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management. For more information, visit: www.remax.ca.
Thanks for reading!
Upcoming Loft and Condo Developments in Downtown Kitchener
By Warren McNeil,
We have been contacted recently by a few people who are thinking about moving into the Kitchener Downtown Core because of a couple of upcoming developments. These new developments are the “City Centre Condominiums” which is being developed by Andrin Homes award winning builder of the Kaufman Lofts and the Arrow Lofts which are being built by Auburn Developments. These new upcoming developments in downtown Kitchener are going to be happening in the next couple of years. Here is a quick breakdown.
The Centre Block Development by Andrin Homes is a multimillion dollar redevelopment of the centre block. This new development is expected to breathe new life into the downtown area. Andrin homes proposes a mixture of residential development, ground floor retail and connected private and public outdoor spaces.
For more information about this new development, please see the FAQ for the Centre Block proposal
The Arrow Lofts are a factory conversion of the old Arrow Shirt factory. Here is a breakdown of what the lofts will be like:
- converted factory with 134 units
- 16 storey building with 184 units
- 900-1300 sq.ft
- 12 foot ceilings
- top floor units are proposed to be 2 bedroom units with a nice view of downtown Kitchener and Victoria Park
Here is a quote from Auburn Developments about the new Arrow lofts that are going to be built:
“Combining Kitchener’s rich heritage with modern, spacious design, Arrow Lofts will see the conversion of the former Arrow shirt factory into a beautiful residential space. Located on Benton Street, this exciting two-phased development will include 134 units in the converted factory, and 184 units in the new 16-storey building just to the west. Ample parking and nearby amenities will make Arrow Lofts the perfect base to take advantage of Kitchener’s vibrant city life.”
In addition the afformentioned developments, there is also the Tannery District which I mentioned the other day in a blog post…
“The Tannery District“. The redevelopment of this property was a result of the city’s 30 million investment in the new U of W’s School of Pharmacy which is located nearby. The Tannery District will be filled with restaurants, retail and office space catering to emerging technology. The Tannery’s central courtyard will be a venue for special events and festivals.
These new developments are really going to help transform the downtown core. In five years, downtown Kitchener is going to look alot different. If you don’t want to wait for these condominiums to be built, there are plenty of resale lofts and condos available.
Thanks for reading!
Thanks for reading!
 By Warren McNeil,
Over the past couple of weeks we have been helping a few clients buy condos. I have showed quite a few different types of condos. Townhouses, apartment style and lofts. There are lots of options out there right not. But today I want to talk a little about Kitchener-Waterloo townhouses.
Townhouse style condos offer great value because they often have a lower cost per square foot then some of the apartment style offerings. The monthly fee is often lower as well. With townhouse style condos, you sometimes get a little patio area and possibly a deck. This is ideal if you want to host a bbq or you like to have a little area to let out your pets. Keep in mind that some condos won’t allow pets so you will need to look at the rules and regulations.
Townhouses sometimes offer more parking options. The unit might have it’s own garage and driveway.
Depending on the unit, you might have maintenance included in the condo fee which means you will never have to worry about replacing a roof or pay for any exterior maintenance. You are still responsible to pay for any maintenance within your unit. So if you need a new furnace you will need to pay for that yourself.
There are currently 24 non-freehold condominiums for sale in Kitchener-Waterloo ranging in price 134,900 — 350,000. 3 of these townhouses are less then 5 years old.
Thanks for reading!
We are a full-time real estate team in Waterloo Region, Woolwich & Wellesley Townships. We enjoy assisting buyers and sellers with the purchase or sale of real estate in the Kitchener-Waterloo, Cambridge, Elmira, Wellesley, Wilmot, Drayton and everywhere in between. If you would like us to help you with your home search, please check out our brand-new free search website or if you are thinking of selling, get a free market evaluation.
Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( direct: 519-498-8118, office: 519.579.4110
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com, www.ElmiraRealEstate.ca
P.S. Looking for a K-W condo or loft, check out our brand new website at www.LoftStyle.ca!
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By Warren McNeil
Kitchener Waterloo and Cambridge offer a huge selection of condos, lofts or singles. Whether you want to live in a  Kaufman loft, a Keats Way condo, a single-family in Doon South or a townhouse in North Waterloo the choices are endless. But which is the best option?
I have written similar blogs about this topic before but it never seems to get old. I have lots of clients who say to me they would never pay a condo fee. I have other clients who say, they want somewhere that will allow them the freedom to come and go as they please without having to worry about maintenance. Whatever the case is, people have their preference and here are a couple of thoughts to ponder.
One of the cons to condo living is the extra monthly fee you have to pay for maintenance. I had a client say to me recently that they feel that the monthly condo fee is a waste of money. These people lived in a single-family home for 30 years and were used to doing all of their own maintance and upkeep on their house. My goal with them was to explain the benefits of condo living. One benefit I shared with them was that condo living would allow them the flexibility to travel for extended periods of time while leaving the condo unattended. All maintenane and upkeep is taken care of for them. No snow to shovel and no grass to mow. We have many clients who own condos and lofts who absolutely love that they don’t have to worry about these types of things.
 Choosing a condominium over a single-family home is about choosing a lifestyle. If you are used to living in a single-family home then moving into a condominium could be a huge shock to you. But wouldn’t it be great to not have to be responsible for repairs or other maintenance. What about underground parking or access to a swimming pool? These are all amenities you can expect from living in a condominium.
Overall, condominiums are a pretty secure investment for buyers over the last ten years. With diligent research on your part, you’ll be able to answer your own “which option is better?” question in the end and feel good about your decision.
Thanks for reading!
Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( 519.579.4110
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com
P.S. Looking for a condo or loft, check out our brand new website at www.LoftStyle.ca!
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Condos and Lofts,kitchener condo,kitchener condo for sale — Tags: arrow lofts for sale, buy an arrow loft in Kitchener, buying a condo or loft in downtown kitchener, kitchener condos, Kitchener lofts —
wmcneil @ June 8, 2011 6:22 pm
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