In the heart of Waterloo Region is the City of Kitchener. With the largest population of over 219,000 (Census, 2016), Kitchener has experienced a resurgence as its local economy diversifies away from a strong industrial past to a booming tech and research sector. With the construction of the Light Rail Transit system running through the heart of downtown Kitchener, it has given new life to the once struggling core area. New developments – both residential and office are currently under way to keep up with demand. Previously empty and neglected “daylight factories” are being repurposed into trendy office space, which is in high demand by the growing tech sector, which includes the likes of Google.
The recent growth and success of Kitchener has not gone unnoticed by real estate investors. For that reason demand is at an all-time high, and supply struggles to keep up with this demand. Investors seeking product in downtown Kitchener should expect to pay a premium and compete for strategically located properties.