Zehr Bringing Life Back to Downtown Kitchener

The other day I tweeted that Carl Zehr’s legacy as it pertains to Downtown Kitchener could depend on how strong the sales of OneHundred Condominiums wind up being.

For what it’s worth, the name is derived from its address at 100 Victoria St. S; they’re well clear of 100 units (276 to be exact). OneHundred just sounds cooler. Its sister building, One Victoria is rapidly approaching a sell-out, so Momentum Developments (Red Condominium, The42) is really testing the strength of Downtown Kitchener’s condo market in the face of its unstable past.

Downtown rejuvenations have been focal points of community agendas in both Kitchener and Waterloo for about the past 10 years, with Zehr being Kitchener’s mayor for that entire duration. As his term of leadership comes to an end, the downtown core is markedly improved, though only time will tell whether it’s reached the point where people are lining up to live there.

Downtown Kitchener has seen ups and downs over the past few years as developers looked to find appropriate residential uses for properties in and around the core. Kaufman Lofts was an incredibly successfully loft conversion, and the earliest buyers in that building have seen their investment appreciate astronomically. Additionally, Arrow Lofts was another successful recent project which saw brisk sales and creative floor plans that made downtown living an easy transition for many.

On the other hand, moving deeper into the core has been a battle for City Centre Condominiums. The project has taken longer to come to fruition than first expected, and though it’s now under construction, there are a number of unsold suites in the building. It’s taken about 3 years on the market to reach a sufficient level of pre-sold units to get construction underway.

The cleanup of central & eastern Downtown Kitchener has certainly been slower than the west-side, without the main draws (Tannery/U of W/LRT/Via). To some effect, EOQ (East of Queen) may still have a similar stigma to London’s EOA (East of Adelaide). That said; it’s all part of a natural yet municipally accelerated push towards the rebirth of downtowns across the map. It’s only a matter of time until the influx of disposable income from new downtown residents promotes renovation and growth out from the Victoria/King intersection.

Uptown Waterloo is seeing this same trend, although in fairness, they’ve had quite the head start. The rebranding of Waterloo Town Square, public gathering spaces, Seagram & Bauer Lofts; all have greatly contributed to what is now a thoroughly vibrant and thriving central core. Quick-selling newcomers like RED Condominium at King & Allen have opened the door for other developers to take their shot at being the next big thing.

Reinvesting in downtowns is certainly the smart man’s approach and Mayor Zehr has led an oft-contested push in the right direction. Ten years may seem like a long time, but with some condo projects taking 5 years from sales launch to occupancy; you have to consider that development, particularly re-development, is a slow process. I would guess that OneHundred is looking at a 12-16 month sellout, which is phenomenal from a developer’s perspective. That’d be great for cementing Zehr’s legacy as one of Kitchener’s all-time greats.