This mid rise condo loft development was just completed this year, and has a prominent Uptown Waterloo location at Bridgeport & Peppler.

Momentum Developments is getting a lot of love around Waterloo these days for the release of their new development, RED Condominiums, which debuted last night to a VIP crowd and proceeded to sell out half the building.

the42 Condos on Bridgeport

The residential condos were completed this summer, and the building was registered as a condo last month.  Once a condo building is registered, owners receive title (ownership) and can sell their units on the MLS if they wish.

the42 Condos Resale Prices

Since registration, two condos have sold at the42, and the prices bode very well for everyone who bought back in 2008 during pre-construction.

A 2 bedroom unit was just sold by a private owner, and it sold for $392 per square foot.

A second unit was sold, and it hit $400 a square foot.

the42 Condos have been a very good investment so far – the average price was under $300 per square foot when these were sold pre-construction.

the42 Condo Interior Images

PS – remember these great pics? They’re from a 2 bedroom + den at the42 owned by WonderfulWaterloo member Sampson

Feel like there is more natural light in this kitchen than most other?  You’re right.

The owner of this residence worked with the builder to customize the floorplan, moving the kitchen adjacent to the terrace and it’s wall of windows.  I think it looks terrific – and it’s unique.

Notice the low VOC bamboo floors, just one of the lower impact “green” options that Momentum Developments offered at the42.

the42 Condos For Sale

For pricing & availability of the42 condos in Waterloo, call me at 519-772-4376 or email me directly at Benjamin AT BenjaminBach DOT com.

If you are interested in other Kitchener Waterloo Condos, let us know what you are looking for. We have a selection of condos available under $200,000, as well as other pre-construction developments.  Whatever type of real estate investment you’re looking for, we can help you with it.

There are currently two units at the42 condos for sale – let me know if you’d like to set up a private tour.

Related posts:

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2. RED Condos in Waterloo are over half sold out already This morning we brought you anecdotal sales figures from the...
3. RED Condominiums in Waterloo Starts Sales with a BANG Over 30 Units Sold at RED Condominiums Opening Night The...

the42 by Momentum Developments in Uptown Waterloo on Bridgeport Road was recently finished, and people have been living there all summer.

Pictures of a Penthouse at the42

This morning, a WonderfulWaterloo member Sampson posted some pictures of their Penthouse (5th floor) 2 bedroom + den unit at the42 – and notably, the builder modified the floorplan at the request of the resident.

Take a look at the pictures – what a wonderful residence!

The living room at the42, looking into an office / den:

Another look at the living room:

Notice the bamboo floor – the builder, Momentum Developments, offered a variety of low VOC flooring options (less impact on the environment than traditional materials).  This was one of the green features of the42.

And here is the Kitchen: Note the loft style duct work that is featured at the42:

This Kitchen picture shows us one of the modifications to the floorplan that the resident made – none of the standard floorplans for the single level 5th floor Penthouses have their Kitchen adjacent to the wall of natural light & the terrace, but Sampson’s Penthouse smartly does.

Look how bright and inviting that area is now!

Prices at the42

Originally posted at Resale pricing for the42 Condos in Waterloo:

A 2 bedroom unit was just sold by a private owner, and it sold for $392 per square foot.

A second unit was sold, and it hit $400 a square foot.

the42 Condos have been a very good investment so far – the average price was under $300 per square foot when these were sold pre-construction.

Buying a condo at the42

the42 sold out very quickly in pre construction when it was launched, but now that it is registered, a couple people have put their condos up for sale on the market.

Momentum Developments built this – they also completed the BPR Lofts across the street at Regina & Bridgeport, and they are behind the upcoming RED Condominiums in Waterloo, that just released their floorplans.

If you’re interested in availability in this great Uptown Waterloo building, send me an email or give me a call.

Pictures of this the42 condo was originally posted at WonderfulWaterloo.com

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3. RED Condominiums in Waterloo Starts Sales with a BANG Over 30 Units Sold at RED Condominiums Opening Night The...

This is being built at the corner of Allen and King Street in Waterloo, directly across from the Bauer Lofts.

The plans aren’t fully approved yet;  Momentum is asking the city to ammend the Official Plan and the zoning for the lot.  From the city of Waterloo’s website:

Official Plan Amendment: The properties are currently designated “ Commercial – Office Commercial“ on Schedule “A1“ and “Medium density, 6 Storeys“ on Height and Density Schedule “A2“ of the City’s Official Plan.  Up to a maximum density of 150 units per hectaare is currently permitted.  The applicant is requesting an Official Plan amendment to applyy a Special Policy Area to the properties to allow a density of up to 311 units per heatacre, and 395 bedrooms per hectare.

Request: The applicant is requesting a Zoning By-Law amendment to add a site-specific provision to allow an increase in the permitted density from 150 units/ha to 311 units/ha, an increase in the permitted height from 18m to 22m, a reduction to setbacks and amenity area requirements, and the addition of retail, restaurant, bake shop and clinic as a permitted uses at grade. The lands would retain the existing Commercial Two – 6 Storeys “C2 -6” zoning in By-law 1108.

Purpose: The purpose of the amendments is to facilitate the development of a 6 storey, mixed use building containing approximately 16,000 sq.ft of commercial space at grade fronting toward King Street South, 63 residential units on the storeys above grade (range of 1, 2 and 3 bedroom units), and 67 parking spaces (of which 45 are proposed underground). Dodd’s Lane is proposed to be extended through to Allen Street East, to complete the connection from John Street. Vehicular access to the site is proposed from both Allen Street East and Dodd’s Lane.

Plans call for 11 studio units, 17 1 bedroom units, 18 1 bedroom +den, 13 two bedroom units and 4 two bed + den units.  There will be 16,000 square feet of retail on the ground level, with parking out back and underground.

Pricing has not been released, but my prediction is that RED Condominiums pricing will break the $400 per square foot price point

What do you think of RED by Momentum?

Related posts:

1. Will RED Condominiums be the Sexiest Development in Kitchener Waterloo? Update: RED Condominiums by Momentum Developments in Waterloo releases Floorplans Update...
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This is a question I get a lot from real estate investors.

The answer is Yes – there are recently built & pre construction condos in Kitchener Waterloo under $200,000.

Which ones?  Watch this video to find out

Among others, City Centre by Andrin has units starting under $200,000 – and so does their last project, the Kaufman Lofts, a conversion of the historic Kaufman factory up the street.

These are both in booming downtown Kitchener; the Kaufman Lofts are across the street from land the Region recently purchased to use as a transit hub (see: Waterloo Region Buys Kitchener Land to Redevelop for Transit Hub), and it’s kitty corner to the University Health Sciences Campus.

For a complete list of condos under $200,000 in Kitchener Waterloo (and Cambridge or Guelph too!) email me, click the link on the sidebar up top or call 519 772 4377

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Update II: RED Condos in Waterloo are over half sold out already

RED Condominiums by Momentum Bring More Style to Uptown Waterloo

Momentum Developments, the firm behind the42 and BPR Lofts in Waterloo has announced plans for a new 6 story condo development in Uptown Waterloo across from the Bauer Lofts - RED Condominiums.

The Red Condominiums will be 63 units with ground level retail, and slightly larger than the42 that Momentum is building right now on Bridgeport Road.

Plans call for 11 studio units, 17 1 bedroom units, 18 1 bedroom +den, 13 two bedroom units and 4 two bed + den units.

The designs released online by Momentum Developments are HOT.

The Red Condominiums look to continue Momentum’s reputation for developing good looking buildings – arguably the nicest condos in Waterloo under development right now (the42)

The Record is reporting that the city still needs to approve a rezoning request, but its looking good.

Momentum Developments, a Waterloo-based company that does infill developments in the city core, will ask city councillors soon to rezone the land to allow for the mixed-use building that will have six floors and an underground-parking garage.

If the rezoning is obtained next month, marketing and pre-sales could begin in the spring and the Red Condominium will become the third to go up in that section of the historic Mary-Allen Neighbourhood.

This would also be Momentum Developments’ third project in downtown Waterloo, following the 55-unit condominium at 42 Bridgeport Road, and the BPR Lofts at 36 Regina St. North.

…

Momentum Development’s rezoning application may have little difficulty getting support among city councillors. The development is in line with the Region of Waterloo’s official plan and growth- management strategy.

update: The Builder has gone to the city for an Official Plan & zoning amendment:

Official Plan Amendment: The properties are currently designated “ Commercial – Office Commercial“ on Schedule “A1“ and “Medium density, 6 Storeys“ on Height and Density Schedule “A2“ of the City’s Official Plan.  Up to a maximum density of 150 units per hectaare is currently permitted.  The applicant is requesting an Official Plan amendment to applyy a Special Policy Area to the properties to allow a density of up to 311 units per heatacre, and 395 bedrooms per hectare.

Request: The applicant is requesting a Zoning By-Law amendment to add a site-specific provision to allow an increase in the permitted density from 150 units/ha to 311 units/ha, an increase in the permitted height from 18m to 22m, a reduction to setbacks and amenity area requirements, and the addition of retail, restaurant, bake shop and clinic as a permitted uses at grade. The lands would retain the existing Commercial Two – 6 Storeys “C2 -6” zoning in By-law 1108.

Purpose: The purpose of the amendments is to facilitate the development of a 6 storey, mixed use building containing approximately 16,000 sq.ft of commercial space at grade fronting toward King Street South, 63 residential units on the storeys above grade (range of 1, 2 and 3 bedroom units), and 67 parking spaces (of which 45 are proposed underground). Dodd’s Lane is proposed to be extended through to Allen Street East, to complete the connection from John Street. Vehicular access to the site is proposed from both Allen Street East and Dodd’s Lane.

I love the design, and welcome it as an addition to Waterloo’s core. We need more developments like this.

What do you think?

Keller Williams is not acting for the vendor; this building is building sold directly by the vendor.

Related posts:

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2. Healthy resale prices at the42 Condos in Waterloo Have you see the42 Condos yet? This mid rise condo...
3. Beautiful images from a Penthouse unit at the42 Condos in Waterloo the42 by Momentum Developments in Uptown Waterloo on Bridgeport Road...

photo by spaceamoeba

Kitchener Waterloo Condos Face Off:

City Centre and 144 Park in Kitchener Waterloo

I was recently talking to a few people in one of the Wonderful Waterloo forums about the new City Centre Condos coming to downtown Kitchener – about 380 units in two towers (one with 17 floors, and a second 14 floor tower).

The topic of Investing in Kitchener Waterloo Condos came up, and one of the members mentioned that they had chosen to put their hard earned investment capital to work at 144 Park, a pre-construction condo being built in Waterloo across the street from the Bauer Lofts.

144 Park, Waterloo Ontario

Curious, I asked why they prefered 144 Park over the City Centre Condos.

The real estate investor replied:

“There are many things at this point that makes me feel it [144 Park] is a good deal and not limited to:

• price per sqft. I paid $340, whereas depending on the unit at CC, they are up to $370 including parking and locker*
• assured it will be built by 90%+ units being sold
• timing. Who knows when CC will have occupancy
• across the street from Vincenzo’s and Bauer Kitchen
• the area around King & Allen is ripe for more big development
• in building amenities
• availability of bigger units
• proximity to Sunlife for rentability

If you want a bigger town feel, City Center will be surrounded by more, but downtown is still a few years away from that. I mean more within a few steps, not a few blocks.”

With Bauer Lofts next door to 144 Park, it’s already desirable. I really like that Vincenzo’s and Bauer Kitchen are across the street. I think that will appeal to a lot of people who desire condo living.”

I found this perspective very interesting.  I have a number of friends who have bought Kitchener Waterloo Condos, including suites at City Centre in Kitchener, and a few clients who have been interested in 144 Park in Waterloo;  none of them have yet bought at 144 Park.

I think they’re both great projects, in premium locations.  Clearly 144 Park is more upscale, but that doesn’t mean it will be a better (or worse) investment.

What do you think?

(PS the quote above is from someone on an internet forum. It’s not advice or fact from me, and it shouldn’t be taken as investment advice.  Talk to me or another professional for individual advice for your specific situation before making a large financial decision)

Buying Kitchener Waterloo Condos

We have a selection of Kitchener Waterloo Condos available under $200,000, as well as other pre-construction developments.  Whatever type of real estate investment you’re looking for, we can help you with it.

For pricing, availability and info on any Kitchener Waterloo Condos, call me at 519-772-4376 or email me directly at Benjamin AT BenjaminBach DOT com.

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Downtown Kitchener

Very cool development news in the paper today about the real estate bordered by Weber, Queen, Ellen and Frederick downtown in Kitchener:

Kitchener civic district unveils master plan:

Terry Pender, RECORD STAFF
KITCHENER

The parking lot where Sonia Lewis is standing could one day be part of a bustling urban space with cafes, benches, pedestrian walkways, parks, squares, an amphitheatre — a district for the arts.

Lewis, the chief executive officer of the Kitchener Public Library, worked with the heads of the Centre in the Square, the Kitchener Waterloo Art Gallery and the Registry Theatre to produce The Civic District Master Plan.

The district, which is roughly bordered by Weber, Queen, Ellen and Frederick streets is home to four of the city’s most important cultural institutions.

But the spaces between those buildings, with the exception of a small park featuring a memorial to firefighters, are filled with parked cars during the day and empty stretches of asphalt over night.

Lewis and the leaders of the other cultural institutions want to see this area transformed into a district showcasing public art exhibitions, theatre and music.

There’s room for a university campus, walkways connecting the library to the Centre in the Square and lush landscaping.

If the Civic District Master Plan ever gets implemented it will bring more residents downtown and help lure creative class workers to the area with a cutting edge arts district, Lewis said.

“The idea is creating attractive public spaces, making that district less about parking and more about open spaces.”

Late next summer, construction will begin on a 400-space underground parking garage. It will be located behind the main library. Some of the surface parking will disappear and a public square will be built. Shortly after that, work begins on a 25,000-square-foot addition to the main library and a complete renovation of the existing building.

When city councillors voted Monday night to adopt the plan, they acknowledged there is no money available to start work. Mayor Carl Zehr likened the Civic District Master Plan to the preliminary work more than three decades ago that led to the creation of Centre in the Square.

This would be a very gentrification of the Kitchener downtown core, which is already a desireable place to live (Kaufman Loft condos are a prime example of that!).

What do you think ?  Let us know in the comments !

(photo credit)

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“To build or not to build, that is the question.”

In just over a month, Waterloo Region will make one of the most momentous decisions in its history. In late June, regional politicians will decide whether or not a $790-million rapid transit system of electric trains and fast buses should link Waterloo, Kitchener and Cambridge and reshape this community forever

…

Some critics argue there’s simply not enough demand for what could be the biggest and most expensive public works project ever undertaken here. They say the 31,000 people expected to ride the rapid transit system daily when it would open in 2014 represent too small a fraction of the overall population to justify the project’s enormous cost.

…But the advocates of a combination of light rail trains and buses say this project is not just about moving people around. It is about building the regional community. It is about planning for a 45 per cent population growth that would see 729,000 people living in the region in 2031. It is, in other words, not just about trains, tracks and buses. It is about the future.

These proponents of rapid transit have a strong case to make, one that deserves full and fair consideration. And they are right that this is not just a transportation issue.

The Ontario government has designated Waterloo Region as an area of growth. Unless that policy changes, unless people stop coming to southern Ontario from across Canada and around the world, Waterloo, Kitchener and Cambridge will grow and change in ways that will make them very different places in the coming decades. In the corridor that would be served by this rapid transit system, the population is expected to grow by 100,000 people in the next 22 years.

Where will all these people live? How will they get around? The provincial government has declared that the cities of Waterloo Region must build more densely populated urban cores. But regional officials warn that, without better public transit, they would have to build eight more lanes of road capacity through the cities to handle the population growth. And there is no room to do that.

This rapid transit system might not be needed in 2009. However, it might be absolutely crucial to having three vibrant, livable, thriving cities in Waterloo Region in 2031. It could mean that our highways are not jammed and that our air is not so heavily polluted. It could mean we are, at long last, controlling and reducing our greenhouse gas emissions.

For the people living here then, a rapid transit system, based heavily if not entirely on electric trains, could be as essential to the community as the Conestoga Parkway is to it today. And it’s worth remembering that there were many vocal opponents to that expressway when it was built 40 years ago.

What do you think about the proposed Light Rapid Transit (LRT) system proposed here?  I know some real estate investors have been buying property along the proposed routes…

Leave your thoughts in the comments!

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Just completed in 2009, this loft conversion of the history Bauer factory in Uptown Waterloo on King Street is one of the most desireable buildings in town – whether you’re looking for a condo, or just a great meal at the new Bauer Kitchen.

(Historic facade of the Bauer Lofts Condo in Waterloo, Ontario)

The Bauer Lofts are located above Vincenzo’s and other premier retail & markets shops.  The building, including the commercial shops, are quickly becoming a destination in Uptown Waterloo.  My wife and I are particularly fond of the Bauer Kitchen retaurant (you can watch a video we shot at it here:  Bauer Kitchen restaurant in Waterloo’s Bauer Lofts condo complex).

(Bauer Kitchen – owned by the Charcoal Group that also operates Wildcraft)

Investing in a condo at the Bauer Lofts

Many real estate investors ask about investing in a condo here and renting it out – we currently have clients doing this, and would love to educate you about what sort of tenant they are attracting, as well as market information on the rental rates, and what that means for your cash flow each month.

Our clients are generating between $1695 and 1795 per month in rental income, for 2 bedroom condos here.  Some 2 bedrooms are larger than others (and more upgraded), so some units may rent for more or less.

Renting at Bauer Lofts

If you aren’t ready to buy a home yet, you can still live here.

You can rent a cool, spacious modern condo in Waterloo’s hottest new development, the Bauer Lofts.

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