Vacancies: 2.2% ↓
Rents: $973 ↑
Waterloo Region’s Southern City Deals With
Manufacturing Downturn and Redevelopment
This may be the result of steps Cambridge has taken to revitalise its urban cores, particularly that of the old town of Galt. By successfully relocating the University of Waterloo’s School of Architecture to its southern urban core, Cambridge has been able to rebuild old industrial stock and increase economic activity in the surrounding neighbourhoods.
Cambridge is working with the Region of Waterloo to increase its transportation links, including additional transit service and express buses between the city and Kitchener. As a result, more and more people are crossing the old boundaries to get from home to work. This trend is expected to increase as the region’s population rises. In addition, its eastern neighbourhoods are seeing an increase in development, some of it related to new residents commuting to jobs in the Greater Toronto Area, and plans are being made to increase these connections, including GO train service.
While Cambridge’s high vacancy rates are a concern, Cambridge is still part of the very active Region of Waterloo, and events that affect the cities of Waterloo and Kitchener will affect Cambridge as well. This city should not be overlooked.
- City’s continuing diversified ownership offers buying opportunities.
- New construction has been and will continue to be absorbed easily by the market.