The COVID-19 pandemic, and the lockdown that it provoked, hasn’t done much to dampen development in the region.
Kitchener has seen more applications for building permits, during the first five months of this year than it did in the same period last year, and the construction value for those projects is also up.
Cambridge saw a slowdown in permits in that period, but is now facing a backlog of planning applications as developers are keen to move forward with projects.
And Waterloo continues to see lots of developers coming in with proposals for multimillion-dollar projects.
“We’re encouraged by the activity that we’re seeing,” said Brian Bennett, Kitchener’s manager of business development.
The ongoing activity, particularly in large projects, “tells me that it’s steady and strong still,” said Cameron Rapp, Waterloo’s commissioner of planning and public works. Developers are proposing “multimillion-dollar structures that take significant financing. These developers are having to justify to (lenders) that there’s a market for them.
“That tells me we’re quite strong economically, out there to the world. There’s money showing up still.”