AntonioDavid1
New Member
What’s the latest news on the platform ? Hopefully we can see some development summer 2026! So much development happening in Kitchener
Kitchener Station Park | 184.95m | 50s | VanMar Developments | Kirkor
- Thread starter Bjays92
- Start date
ZEBuilder
Active Member
There hasn't been any movement on the building permits, so highly unlikely it will start construction anytime soon.
Keep in mind they were targeting closings in 2028 for it which is not going to happen. The cheapest price they had when sales launched was 540k for 503 sqft. There's similar condos on the resale market going for 300k in relatively new buildings as well (completed within the last 5 years), this isn't moving until something gives. There's a few other developers in KW that are similarly having a tough time trying to sell anything and it isn't limited to condos, SFH and Townhomes are slowly to the point that some of those developers are switching to rentals, for example KWs largest SFH developer (Activa) started selling SFH homes in the fall of 2024 on phase 2 of Harvest Park which has 105 lots, they've only sold 42 lots in the last year and a bit. They've switched to rental on a few of their projects because they know they can't sell anything (Townhomes at Trussler West, and 1198 Fischer Hallman).
Not to mention there's the entire water supply issue that is plaguing KW that is throwing a wrench into everything, there's a stop gap solution that is being implemented at the Mannheim plant to add some capacity (to the tune of 15 million dollars).
ZachHiebert
New Member
Hey Everyone! This is my first time posting, so I just thought I'd give a brief introduction. I live in Kitchener and have really gotten into skylines and architecture in the last couple of years. It's so exciting to see all the development happening in Kitchener, specifically. I love that these groups have people who share my passion. I am a full-time videographer, so I also love taking photos of these projects, although please don't judge these photos too harshly. I was in a rush and just casually capturing.
That brings me to Station Park, this probably has to be one of the most exciting projects in KW, and if that Station Park E building ever goes up, that will be an insane win for the skyline... Anyways, I know things right now are pretty bleak with the Condo market slowing down, combined with the water issues in KW. But I thought I'd stop by today to take some photos of the site to regain some excitement in the project, and show just how far it's come. I know some people in the forum don't love it, but honestly, the first duo tower is one of the best-looking in the city, in my opinion. I love that they went for something unique with the balconies (Unique for KW that is, should be measured differently compared to Toronto lol). I have faith in this project, but if this is all we get, it is still a great addition to the rapidly growing skyline.
That brings me to Station Park, this probably has to be one of the most exciting projects in KW, and if that Station Park E building ever goes up, that will be an insane win for the skyline... Anyways, I know things right now are pretty bleak with the Condo market slowing down, combined with the water issues in KW. But I thought I'd stop by today to take some photos of the site to regain some excitement in the project, and show just how far it's come. I know some people in the forum don't love it, but honestly, the first duo tower is one of the best-looking in the city, in my opinion. I love that they went for something unique with the balconies (Unique for KW that is, should be measured differently compared to Toronto lol). I have faith in this project, but if this is all we get, it is still a great addition to the rapidly growing skyline.
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simplmind02
New Member
Nice pics. Unfortunately I think the condo market in KW is in worse shape than Toronto and find it hard to see it return to a fraction of what it was. The money just doesn't add up.
ZachHiebert
New Member
Makes sense… unfortunately
. However for places that are already blocked off construction sights and bought by the developer would they really cancel the project or just deley it? For example, the rest of Station Park, 50 Borden Ave S and Strata Condo in uptown Waterloo are already construction sites, they are just waiting for sales to go up. I find it hard to believe the developers would outright cancel and re-sell the land, more so that the construction of the projects might just take a lot longer.simplmind02
New Member
They very well could cancel. Smaller developers could just take the loss, sell and close up completely..you will see this happen. Sales wont just go up, especially in smaller markets, if you can get 2 year used condo for 200k less, and you physically cannot make money from rent on a 500k condo..no one will buy. And the builder cannot reduce prices or they wont be making money..not to mention lending these days is also extremely difficult as the banks are more cautious. It is really bad actually. Only thing you may see is rental or smaller/cheaper builds.Makes sense… unfortunately
If vanmar ever builds Duo 2 i would be very surprised, i cannot see building E being built at all tbh.
ProjectEnd
Superstar
Civdis
Active Member
Welcome to the community, great shots!
ZachHiebert
New Member
Thank you! Glad I’m not the only one who nerds out at these projects!
Northern Light
Superstar
Welcome to Urban Toronto!
They're solid, no worries. Most here are amateurs. And everyone is awed by @kotsy
In two parts, last first. I don't 'love it' but its not terrible by any means, I've seen so much worse.........especially from this firm. That said, I think its not a stretch to most to say it could have been better.
Now, first, last.
The condo market, for mid-market or entry-level is in the crapper.
But there is the possibility of the developer flipping to rental; but that would likely require a modified design of the interior (I'm not going back to look at it right now, so that's a guess).
The collapse of Conestoga's student population is certainly an issue in your area, but housing is still commanding prices above pre-pandemic levels.
SFH prices were just over 300k in 2013 in KW, and are currently running around the 750k mark. (prices were around 527k in 2019, and peaked at ~800k in 2022) .
So a developer who assembled pre 2020 should still be in good shape.......if they assembled at the peak price, less so, but its not a complete disaster (unless they overpaid at peak)
If the builder doesn't want to pivot to rental though, any condo site is likely to sit for awhile.
simplmind02
New Member
The "collapse" of conestoga student population in the area was a God send, especially for anyone living near a campus.
What do you mean by "assembled" ?
Northern Light
Superstar
When properties were purchased for the purpose of development. Assembly is often used because its common for there to be multiple properties one beside the other purchased and consolidated to a new development lot. Though there are exceptions involving a single large parcel.
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