Last week a real estate investor asked me if I thought that there was too much student housing being built in Waterloo – would all the beds under construction be filled, long term?
Since 2005 a lot of student housing has been built. Like, thousands of beds. An investor represented by Keller Williams purchased over 500 newly built bedrooms, and there have been other groups just as active.
Just down from a 380+ student property, there is a new 500+ student investment property under construction:
(Waterloo Student Apartment Building under Development)
This is not the only building going up right now – there are many other properties slated to come online in the next few years.
So – will there be a long term demand for this much housing around the Universities?
Right now, there are approximately 30,000 full and part time students at the University of Waterloo (UW) and about 15,000 attend WLU’s Waterloo campus. Lots and lots of tenants ready to rent your rooms.
Looking forward to the future, things look bright for people investing in Student Housing in KW:
UW campus poised to double in size over 40 years
By Jeff Outhit, Record staff
WATERLOO — Plans are taking shape to double the built size of the University of Waterloo campus over 40 years.
On Monday, Waterloo councillors approved conceptual plans to expand the research and technology park north of the current campus, and also to develop nearby vacant lands in the northwest corner of the campus.
Council also reviewed a university proposal to launch construction of a first phase in its northwest corner. The lands could be used for research, academic buildings, and housing for students or faculty.
“It’s pretty much doubling the size of the university footprint,” Coun. Mark Whaley said. “It’s remarkable stuff.”
He praised the university founders for creating the school in the 1950s and buying up all the vacant land now proposed for development. “What an amazing foresight these guys had,” he said.
The current research park is expected to expand north onto vacant lands over 15 years, adding as many as 4,000 more employees.
The vacant northwest corner of the campus, between Westmount and Fischer-Hallman roads, is to be developed in phases over 40 years. It could see another 13,750 employees added to the campus payroll.
We’ve seen rents and values of student rental properties steadily increase over the years. With the planned expansion from UW, it looks like this trend will continue for a long time.
If you have any questions about the student real estate investment market in Waterloo, or for a list of properties that produce cash flow in the region, email me at Benjamin@BenjaminBach.com
KW Commercial is your one stop shop for commercial, investment, retail and multi family advice and brokerage in Waterloo Region.
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[...] Is Waterloo’s Student Housing Market Being Over Built? [...]
[...] just looked at the growth plans that University of Waterloo has over the next 40 years (Is Waterloo’s Student Housing Market Being Over Built?) - they plan to double the footprint of the campus, adding potentially more than 10,000 new staff [...]