05-04-2018, 05:39 AM
Little nugget of information on this project below :
The demand for condos was evident Thursday, which was the first day of sales for the newly named Garment Street project. Located on Victoria Street at Michael Street in Kitchener, Garment Street involves a redevelopment of the former Huck glove factory into a 23-storey condo tower.
People began lining up outside the sales office at 6 a.m., knowing full well that they would have an 11-hour wait before they could purchase a unit.
Many of the people in line told CTV News that they were real estate agents there on behalf of local clients looking to purchase units in the building for investment purposes.
“It makes sense for them, financial sense, to invest now,” said Shawn Ramautor.
Jeff Gibson, the founder of condo-focused brokerage Condo Culture, says about half of new condo buildings in Kitchener are now bought by investors.
Realtors at Garment Street said they believed the building could sell out by the weekend – meaning hundreds of units would sell for a combined total of about $75 million.
https://kitchener.ctvnews.ca/mobile/cond...-1.3914211
The demand for condos was evident Thursday, which was the first day of sales for the newly named Garment Street project. Located on Victoria Street at Michael Street in Kitchener, Garment Street involves a redevelopment of the former Huck glove factory into a 23-storey condo tower.
People began lining up outside the sales office at 6 a.m., knowing full well that they would have an 11-hour wait before they could purchase a unit.
Many of the people in line told CTV News that they were real estate agents there on behalf of local clients looking to purchase units in the building for investment purposes.
“It makes sense for them, financial sense, to invest now,” said Shawn Ramautor.
Jeff Gibson, the founder of condo-focused brokerage Condo Culture, says about half of new condo buildings in Kitchener are now bought by investors.
Realtors at Garment Street said they believed the building could sell out by the weekend – meaning hundreds of units would sell for a combined total of about $75 million.
https://kitchener.ctvnews.ca/mobile/cond...-1.3914211