General Urban Waterloo Updates and Rumours

[tomh009]

Anyone's guess

https://www.therecord.com/news/waterloo-...354aa.html

Developer Paul Leveck can’t say when he will sell enough new condos to build the twin towers he has proposed in the heart of Waterloo’s downtown.

“The market is stalled,” he told city council this week in seeking planning approval. “As to when that market comes back, I think it’s anybody’s guess.”

He points to a price gap between resale homes and new homes that needs to shrink. The market for new condos will pick up when prices rise for resale homes or fall for new condos, which will only happen if development costs fall, he said.

“It’s very challenging as a developer right now to sit here, hold land, try and get it approved, carry the cost of that land, and hope for a better day,” he said.