The largest shopping area in the Southwestern Ontario – One million square feet – is being built in Kitchener Waterloo, at the corner of Ira Needles Blvd and University Ave West.
This is a project that Paul Dietrich and Voisin Developments are undertaking; Paul started assembling the land in 1985.
When completed in three to five years, The Boardwalk at Ira Needles Boulevard, as it will formally be known, will create 3,200 jobs and contribute $6 million annually in new municipal taxes.
So say the creators of the one-million square foot commercial centre to be constructed on the west side of Kitchener and Waterloo at Ira Needles Boulevard and University Avenue West.
The name for the mammoth project was unveiled today by developers Greg Voisin and Paul Dietrich.
“The site will be pedestrian-friendly with attractive streetscapes, landscaping and architecture, so the name The Boardwalk seems like a perfect fit,” said Voisin, president of Voisin Developments, which has built 12 shopping centres across Ontario, including the Sunrise Centre in Kitchener.
The Boardwalk will actually consist of three shopping centres on one site, said Dietrich. A Wal-Mart will anchor the south end. In the middle will be a fashion village and other retail stores. Corporate offices, a fitness centre and a 10-screen cinema complex being developed by Empire Theatres will anchor the north end, he said.
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The two developers are investing more than $100 million in the project. They will own all the buildings, except for two that will be occupied by Wal-Mart and another unnamed anchor tenant. With an abundance of housing nearby, Voisin called the location one of the best undeveloped commercial sites in all of Canada.
Some of our clients are investing in property close to The Boardwalk; there are some good rental opportunities – and the Boardwalk will be bringing many jobs, meaning people needing housing nearby.
For info on available investment properties in the area, development land, information on leasing at The Boardwalk, or for more information about the commercial real estate market in Waterloo Region, contact me today at Benjamin@BenjaminBach.com or call me at 519.772.4376.
KW Commercial is your one stop shop for commercial, investment, retail and multi family advice and brokerage in Waterloo Region.
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