Last Updated on October 24, 2023 by CREW Editorial
Waterloo is known as Silicon Valley North for a reason. With over 1,000 technology companies in the area and over 200,000 technology jobs, Waterloo is roughly half the size of the workforce in Silicon Valley and still growing. Many of these roles are held by young professionals starting out and students who are choosing to stay on after graduation. In fact, so many people are choosing to make Waterloo their full-time home now that high-end accommodation for young professionals has been hard to come by. It is estimated that over 16,500 young tech workers and over 20,000 co-op students working within the Technology Triangle need housing. This offers long-term opportunity for investors to provide them with quality academic accommodations and a home for them during their first years on the job.
Prica Group is filling the demand for new A-class quality condominium suites in Waterloo near the Idea Quarter. With prices from the $580’s and starting from $371 per square foot, this mid-rise condominium building located at 261 Lester Street offers five-bedroom rental suites with high-end finishes, geared for savvy out-of-town and local, busy investors. Flexible closings are available from 30-day to March of 2018.
The location of the building is key to what makes this such an enticing investment, as it is directly next door not only to both University of Waterloo and Wilfrid Laurier University but also close to the Idea Quarter and steps from the new regional LRT ION that is connecting residents across the city.
Expansion to the Idea Quarter shows no end in sight. Within the next 5 years an additional 3.2M square feet of space, 16,500 workers and 150 new companies are projected. A brand new mixed-use facility is coming to Research and Technology Park, that will include creative workspaces, retail and restaurants. A new pedestrian walkway is going to connect the new LRT ION station and Research and Technology Park. New companies continue to flock to the area, including SAP, OpenText, Cisco, Stantec, TrustPoint Innovation Technologies, Axonify and EY, emboldened by easy access to talent from the local universities, reasonable real estate prices and close connection to transit.
A Rental Guarantee is offered along with Free Property Management from KW4Rent for 2 years from the purchase of the unit. KW4Rent is Waterloo’s premier Property Management company with years of experience and 24/7 response management.
The condominium building now on offer from Prica Group is top of the class. Those who are interested should visit www.kw2own.com or call 437.928.2588. Showings are available.
Prica Group is a leader in the Waterloo real estate market with a net worth of $514 million in assets including residential and commercial properties, land and a leading property management company. Now investors can have a piece of their action.
