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Kitchener Continues to Boom with Investment and Innovation

Date:
August 30, 2021
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Kitchener has seen an impressive transformation over the last two decades with even more growth on the horizon. Kickstarted by a $110 million Economic Development Investment Fund in 2000, this city located west of Toronto has evolved into a hotspot for development and innovation.

Having undergone a major revitalization, a variety of factors has kept the city primed for growth, including a globally recognized technology sector, access to acclaimed postsecondary institutions and a rapidly expanding transportation hub.

Earlier this year Metrolinx announced a $1-billion investment is being made for the Kitchener GO Rail Expansion project as part of the government’s plan to spark investment and support population growth in the Waterloo Region. The Kitchener line will become the core of the Toronto-Waterloo Innovation corridor, a fast-growing innovation technology hub with a potential to see a growth of 170,000 jobs if the technology supercluster is fully realized. Expanded rail service will provide people with more direct connections to job and education opportunities. A number of acclaimed postsecondary institutions like University of Waterloo and downtown campuses from Wilfrid Laurier University, Conestoga College and McMaster University has attracted highly skilled and emerging tech talent to the city to live work and play.

“In less than 20 years, we went from a place nobody would invest in to selling out residential units in minutes, to massive investments in transportation infrastructure supporting an innovation corridor,” said Kitchener Mayor Berry Vrbanovic.

With an established portfolio in Southern Ontario, we expected the increase in demand for housing in Kitchener. In 2019 Greybrook acquired a 22-acre development site in Kitchener with partners, Cityzen Development Group and Tercot Communities. The development is progressing through the planning phase and once fully developed, the low-rise community will consist of over 200 townhomes and single-detached homes.

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