Many people are surprised to learn that Cambridge was previously three towns of Galt, Preston and Hespeler. Cambridge was formed as a result of forced amalgamation in 1973. Cambridge is unique in that it had three downtown areas. The large commercial node that connects them is Hespeler Road / Highway 24. Cambridge is an attractive investment location due to its access to Highway 401 and strong employment base.
Most multifamily apartments in Cambridge were built in the 1960’s and 1970’s, however similar to what has been seen throughout the region recently, new apartment construction continues to rise in popularity in order to keep up with demand in an area where vacancy seemingly does not exist.
As is the case with most cities, location matters in Cambridge. The location of a particular apartment building in Cambridge will have a significant impact on the type of tenant profile landlords will attract.