Vacancies: 2.1% ↓
Rents: $896 ↑
Urban Centre Turns it Around
The City of Brantford has come a long way from its troubled period in the 1990s when a severe downturn in the economy closed plants, raised unemployment, and caused a significant amount of decay within its downtown core. Although the 2008 recession raised unemployment again (employment has risen and fallen but overall remained static since 2009), investments in the education and services sector have breathed new life into Brantford’s inner city. Its population in 2006 of 90,192 is an encouraging increase from its population in 1991 (81,997).
The core of Brantford’s reinvestment in its downtown is the opening of a satellite campus of Wilfred Laurier University. Since it opened in 1999 with 39 students in its inaugural year, it has grown considerably, with over 2,000 students registered in 2011 and eight residence communities built. This has allowed previously abandoned buildings to be rebuilt and added economic activity to Brantford’s central business district and gentrification of the neighbourhoods around it, although the 2008 recession has slowed the pace of this renewal. The city’s distance from major job markets like the Greater Toronto Area and limited transportation connections has meant that some residents – especially graduating students – have left town to look for work.
The market is largely fragmented, meaning that large corporate owners do not dominate. Vacancy rates are moderate but rising. These rates are higher for one and two-bedroom apartments and lower for three bedroom apartments, suggesting that the market for larger apartments has room to grow. Rents have risen each year in the past five years.
Given its distance from other major centres, especially the GTA, the revival of Brantford’s apartment market will largely come as the town continues to grow its economy and build on the success of its university campus. Even though some market classes are saturated, there are bright spots for investment for those willing to take the risk.
Brantford’s remarkable turnaround from the 1990s continues strong with no sign of abatement. Investments in its education centre and its downtown are expected to continue, building a good market for investors looking for a yield play.
- Continued opportunities for student housing (buying and repositioning) around Wilfred Laurier’s satellite campus.
- For the stock price, Brantford remains a better value than Kitchener-Waterloo.
INTERESTED IN NEW APARTMENT CONSTRUCTION IN THIS REGION? FILL OUT THE FORM BELOW TO REQUEST THE RECENT TRANSACTIONS.
Global Director Buildings
Mansoor Kazerouni is an Architect with over 27 years of experience and a significant portfolio of projects completed or underway across Canada, the United States, the UAE, Jordan and India. These include high density high-rise residential buildings, hotels, office, retail, institutional, and complex urban mixed-use developments. A number of these projects have been nominated for and received Urban Design and Architectural Design awards.
Mr. Kazerouni is the Global Director of Architecture at IBI Group, leading a team of over 1,400 Architects, designers and Engineers located in 60 offices worldwide.
Mr. Kazerouni has been a guest lecturer on the subject of architecture and mixed-use design at universities, conferences and various panels. He has also been interviewed on the subject by newspapers, architectural publications, television and other media.
Mr. Kazerouni's abilities and expertise in his field have been recognized by his appointment to the City of Mississauga's Urban Design Advisory Panel, the City of Markham’s Urban Design Advisory Panel and the City of Vaughan's Urban Design Advisory Panel. He is also a past Advisory Board Member of the Urban Land Institute, a member of the Ontario Association of Architects, the Alberta Association of Architects, the Nova Scotia Association of Architects, the Architects Licensing Board of Newfoundland and Labrador, and a member of the Royal Architectural Institute of Canada. He has testified as an expert witness at the Ontario Municipal Board and at Arbitration Hearings related to development sites.
Darryl McCullough CCIM SEC
Broker - Royal LePage Lakes of Muskoka Realty Inc., Brokerage
President - Crescent Equity Management Inc.
Since 1972, I have been given the opportunity to interact with seasoned partners and clients in structuring and organizing both simple and complex real estate transactions involving acquisition, disposition, finance, and consulting in Canada and throughout the United States. It has trained me to bring a unique, personal client-centered approach to each assignment, from simple to complex transactions and the diverse clientele who own them.
In 1984 I received the Certified Commercial Investment Member, CCIM, designation (www.ccim.com); an internationally recognized identity confirming amortized knowledge in the disciplines of investment, development etc.
Another prominent membership I thankfully am able to continue holding is with the U.S. based Society of Exchanges Counselors (www.secounselors.com). This organization shares my belief in pursuing and demonstrating problem solving techniques in the real estate industry based on proven principles of integrity, professionalism, and accountability. Through this organization I continue to dedicate myself to what is true in the discipline of real estate problem solving.
Technology coupled with a learned research and analytical skill set now allows me to carry out these functions with selected projects from my adopted Muskoka home.
I continue to maintain an ever changing “student” learning status not only related to the physical asset, but equal or more importantly, drawing out corporate/personal situations and objectives and then knitting together ultimate benefit packages based on creative solutions via time honoured formulas.