06-04-2020, 10:22 AM
(06-03-2020, 07:51 PM)jwilliamson Wrote: Waterloo builds more mixed-use buildings and is generally more supportive of infill development than Kitchener. I think the city is taking the right approach to affordability by encouraging large amounts of market-rate purpose-built rentals to keep average rents down, instead of focusing on condos and then trying to build subsidized housing to house people who can no longer afford market rates.
The city doesn't "focus on" market-rate rentals, just as Kitchener doesn't "focus on" condos. The decision on the type of building is strictly up to the developer. Or does Waterloo offer developers incentives to build market-rate rentals? I did not think this was the case, but please do correct me if I'm wrong.
As to the market rates, the Kitchener-Waterloo rental market is largely fungible and adding rental units in Waterloo will also relieve pressure on rental units in Kitchener.
Also, most of the new downtown Waterloo rentals (Barrel Yards, Princess) are toward the higher end of the market, unlike Drewlo, Market Flats, 59-65 Weber St E, 242-262 Queen St S and similar projects that are mid-market targeted.