By Warren McNeil,
I read a really interesting article about a Guelph based developer that bought a city block down between King, Madison, Charles and Cameron. The plan is to develop mixed use residential. They are paying 3.6 million for the land. There will likely be two high rise apartment buildings and some townhouses as well. There is no timeline when the construction will begin. 
One part of the article I found interesting was the value of the land and how much it has increased in the past 5 years.
"Five years ago that land would probably have fetched $500,000 an acre. Fusion Homes paid about $1.5 million an acre."
In the past 10 years downtown Kitchener has seen many new developments. - Kaufman Lofts, LeMarch Condos, Mansion Lofts and the Eatons Lofts.
There are also ongoing developments: - Center City Block and Arrow Lofts.
According to the article, Kitchener has about 20 year supply of land for new construction developments. Waterloo has about 10 years and Cambridge is somewhere in between.
To see the full article, checkout http://news.therecord.com/News/Local/article/829098
Comments(2)