Why invest in Kitchener Real Estate?
Kitchener is the largest of the tri-cities which include Waterloo and Cambridge. The city has a population of 233,222 based on 2016 Census. It’s known as a manufacturing centre but is changing its economy due to the new economic scenario in the region towards innovation and technology.
The city has been under an economic boom which influenced the project to revitalize its downtown core. Mainly the project intended to improve lighting and expanding its sidewalks. It has received more than $1 billion in building permits to the surrounding area of King Street, this will provide several opportunities for real estate investors.
Kitchener is one of the tech industry centres due to its focus on innovation and technology, attracting several high tech companies to the area, including Google Inc. among others.
City of Kitchener
Kitchener’s downtown core is around King Street which has been revitalized and future investments will enrich the area creating more homes, business offices and commercial buildings.
As part of the Tri-Cities, the city receive many students from University of Waterloo and Wilfrid University which enroll combined more than 50,000 students every year. These universities attract attention of high tech companies which are looking for bright minds to research and develop new products and concepts to innovate the marketplace.
The city has strong German background, its influence can be seen on the streets and monuments through its boundaries. This environment also attracts 700,000 tourists to the area during Kitchener-Waterloo Oktoberfest every year.
Kitchener has been developing the ION Light Rail which will connect to Waterloo on its first phase, and Cambridge on its second phase. Currently, there is a bus service in the city but it will be replaced by railway extensions until 2025.
Also, the city has connection with Highway 401 giving access to major cities in Ontario, and with the United States giving competitive advantage over other minor cities.
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