93-99 Benton Avenue, Kitchener, ON
Project Overview
Located in the heart of Downtown Kitchener, this property represents a strategic acquisition in a rapidly intensifying urban corridor. Currently operating as an income-generating asset, the property is fully leased and provides strong cash flow while future development plans are advanced.
- Current Asset Profile:
- Comprises 13 fully leased residential units, ensuring steady income during the entitlement phase.
- Strong tenant base in a high-demand downtown rental market.
- Future Development Potential:
- A zoning amendment is currently in process with the City of Kitchener to transform the site into a 12-story, 110-unit residential building.
- Plans include two levels of underground parking, catering to urban residents who seek both convenience and city living.
- Proposed design emphasizes modern urban housing, efficient layouts, and amenities aligned with downtown lifestyle expectations.
- Project Timeline:
- Acquisition Date: September 2022
- Planning Stage: Rezoning and approvals currently underway.
- Future Goal: Redevelopment into a high-density, mid-rise residential community positioned to serve the growing demand for downtown living.
Key Highlights
- Prime Downtown Kitchener location, benefiting from strong population growth, employment hubs, and transit connectivity (including the ION Light Rail Transit system).
- Dual-value strategy: current cash-flowing property with significant long-term redevelopment potential.
- Proposed 110-unit building aligns with city planning priorities for urban intensification and housing supply expansion.
- Opportunity to create a landmark 12-story residential community in one of Ontario’s fastest-growing urban cores.
- Exemplifies expertise in value-add acquisitions, rezoning, and pipeline development.