Each spring, my brokerage (Chestnut Park West) works to compile a buyer-friendly guide to the newest condominium developments that are taking shape around our region. While last year’s guide unfortunately was not able to come together due to the uncertainty brought about by the pandemic and the resultant difficulties in contacting developers and sales centers, I’m happy to report that this year’s guide is ready!
Despite a short sputter in ongoing construction last spring, new developments over the past fourteen months have only continued to gather steam and increase in quantity, as the Waterloo-Wellington region experiences a surge in demand for housing. Our growing population and rising housing prices mean that more and more buyers are turning to condos as an alternative to traditional single-detached properties. This is especially the case for the younger professional and first-time buyer demographic.
Our skylines are changing month-to-month, and many of the newest high-rise style developments are topping out at levels unprecedented in the history of our area. Charlie West and DTK Condos, to name a couple, are both set to reach storey counts in the upper 30s, while rumours circulate of developments to come within the next several years of 40-plus storeys, and even higher. According to the latest CMHC regional forecast (the highlights of which I examined in greater detail in my previous post), the new apartment-style inventory coming online over the next two years should mean a dampening on the pace of new projects soon. But, as we’ve all seen first-hand over the past five years, our region’s upward growth has continued regardless of the economic climate in other parts of the country, and even in other parts of Ontario. Waterloo-Wellington’s dynamic growth may once again defy CMHC’s expectations and I, for one, would not be in the least bit surprised by this.
So, without further ado, please follow this link to access a copy of Chestnut Park West’s New Condo Guide for Waterloo-Wellington, Spring 2021. If you have any questions about these projects or just about condos in general, I’d invite you to reach out to one of our highly-skilled and experienced Realtors.
