Breaking Ground with KPMG at the Glove Box

We had a lot to celebrate today!  We were very fortunate to have a bunch of our friends, colleagues and business partners along side us as we broke ground at the Glove Box.  The Glove Box is a new office complex in the heart of the Innovation District and within the Garment Street Condominium Development located at Victoria and Bramm St.

The Glove Box is a 150,000 square foot building of brick and beams and modern glass with an expected occupancy of fall 2021.  It’s historical footprint as the Huck Glove Building is something we plan to celebrate and show homage to throughout this project.

We were excited to announce the glove box’s first tenants, KPMG Canada!! And they were along side us and spoke at our ground breaking ceremony.

Other business partners we shared the day with was our Momentum Partnership with the Zehr group.  As a well respected developer, construction company and project management group in the Waterloo Region, we are exited to continue our ongoing partnership though the Glove Box project.

We could not have done this project without the investment support of partner KingSett Capital.  As Canada’s leading private equity real estate investment we were thrilled to have their team along side us for this ceremony.

As well, Whitney Commercial Real Estate Services was a big part of this day and we were happy to have them speak at the breaking ground ceremony.  Their unwavering dedication to finding the perfect fit shows and we couldn’t be happier about the Glove Box’s new tenants KPMG Canada.

Thanks to Berry Vrbanovic and the City of Kitchener for coming out to support this exciting development for the city!

 

Public Transit Investment Spurs Renewal in Downtown Core

With a quiet hum, sleek light-rail trains carve their way along an urban spine from the north end of Waterloo to the south end of next-door Kitchener, traversing a 22-stop route that includes two shopping malls, two universities, two city halls, one hospital and a future multimodal transit hub.

Funded by Waterloo Region, the province and the federal government, the $818-million light rail train (LRT) system – known as the Ion – has proven highly popular since it opened in June. But the Ion isn’t just moving people. It’s been designed to limit sprawl, intensify downtown development and make it more convenient for the area’s youthful demographic to live and work close to the amenities they need in this fast-growing urban centre.

“The Ion represents quite a structural shift in the development pattern,” says Rod Regier, commissioner of planning, development and legislative services for the region of Waterloo. “There is a fundamental shift in the nature of the built form that is emerging.”

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Garment Street: New Life in Kitchener’s Core

quarterly.exchange | Q3-2019 Core Redevelopment  by Paul Knowles

The downtown cores of Kitchener and Waterloo are being transformed. It’s easy to say this is because of the now-operational Ion Light Rail Transit service, but perhaps the truth is, it’s more because of the vision and commitment of people like Brian Prudham and Don Zehr.

Sure, the Region (and other governmental partners) have put a lot of money and faith into the Ion – but that is taxpayer money; the decision-makers don’t actually have “skin in the game”. But Zehr, Prudham, and a significant number of other local developers and builders do have money and reputation on the line – and they are taking the chance in order to do some special things in the heart of the city.

Zehr is really excited about the office building, in which a brand new building will rise beside and above the Huck Glove building… “It is like no other in this area,” he says. “It’s going to be so different.”

Prudham is part of Momentum Developments; Zehr heads the company that bears his name, the Zehr Group. They have joined forces as the Momentum Partnership to build an innovative district in the heart of Kitchener, a development that will include three residential towers, and a breathtaking office complex that incorporates the heritage building that once housed Huck Gloves.

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Charlie West condo breaks ground

31-storey Charlie West condo tower breaks ground in downtown Kitchener

‘Amenity rich’ project already 95 per cent sold out — “Soil has been turned for the new Charlie West condos at the corner of Charles and Gaukel streets in downtown Kitchener.

When finished, the building will be 31-storeys high and include about 300 residential units, as well as about 6,000 square feet of retail at the base of the Charles Street side.

It’s one of the many highrise condominiums currently under development in Kitchener by the Zehr Group and Momentum Developments, collectively known as the Momentum Partnership.

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Bridgit building on past success with $2M investment

KITCHENER — With a $2-million investment from a Toronto-based fund that helps women entrepreneurs, the startup Bridgit plans to further develop a new product for its mobile platform for construction managers.

Stand Up Ventures and MaRS IAF led this round of investment in the company launched by co-founders Lauren Lake and Mallorie Brodie in 2014.

“We are obviously very happy to be one of their first investments,” said Brodie.

Bridgit employs 34 at its office at 100 Ahrens St. W. in Kitchener and is hiring.

It will use the new investment to further develop a new product that evaluates data from clients, and alerts them to trends on construction sites that will cause more delays and cost overruns.

That new product, called Project Insights, was launched earlier this year, but there is potential to expand it, providing details in real time to help construction managers.

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Sale of Huck Glove factory to transform plans for Innovation District

KITCHENER: Earlier today, Momentum Partnership and KingSett Capital, on behalf of KingSett Real Estate Growth LP No.6 announced the acquisition of the former Huck Glove factory at 120 Victoria Street South in Kitchener, Ontario. The former factory will be incorporated into a commercial space and will be joined by additional commercial floors and a 23-storey residential condominium tower. CBRE Canada brokered the sale of the site.

“This is the culmination of an idea that we’ve had going back to 2012,” says Brian Prudham, Principal at Momentum Developments. “Combining the former Huck Glove property into our adjacent One Hundred condominiums project allows us to build something that will transform the west end of the Innovation District. The combined development will make this location a popular destination for residents and businesses.”

The six-story commercial development will incorporate a revitalized Huck Glove brick-and-beam factory, and provide amenity space for condominium residents. In total, the development is slated toprovide130,000 square feet of office space, 11,000 square feet of retail and approximately 300 residential units.

“This acquisition lets us do something bold and transformative for the neighbourhood,” says Zac Zehr, VP of Development for Zehr Group. “Along with the nearly sold out double towers currently under construction, the entire development site will add 650 residential units to the community and employment space for more than 500 people. This mix of uses so close to the transit hub is a huge step forward for Downtown Kitchener in its goal of becoming an accessible urban community.”

Joining the project as an investment partner is KingSett Capital, Canada’s leading private equity real estate investment firm. The involvement of KingSett Capital is a strong indication of the growing interest that developers and investors across Canada are showing in the continued growth opportunity in Kitchener-Waterloo.

“The concentration of technology companies in the Innovation District, investments in transit infrastructure and strong conditions for continued growth make Downtown Kitchener an increasingly attractive location for this type of mixed-use development,” said Matthew Johnson, Executive Director of Investments for KingSett Capital. Detailed plans for the new residential tower, including pricing and suite availability, will be made public once they have been finalized. More information about the project can be found at momentumdevelopments.ca.

A new partner joins Momentum on its 10th Anniversary

Momentum Developments is excited to announce that Seth Jutzi has joined the company as its newest partner. This past June marked the 10th anniversary of Momentum Developments, and Seth’s skillset is perfectly suited to help Momentum look towards our next 10 years of growth.

Seth comes to us from Sorbara, Schumacher, McCann LLP, where he developed an extensive body of work in both real estate and commercial law. His collaborative approach in deconstructing legal and business issues, along with his diligence and creativity have earned him a sterling reputation among coworkers and clients alike.

Seth also contributes his time, professional expertise, and leadership to a number of local charities. For the past eight years, Seth has served on the Board of Directors for Habitat for Humanity Waterloo Region, including two years as Board Chair. Currently, Seth serves on the Board of Governors for the Grand River Hospital Foundation and is the Chair of the Governance Committee. This dedication to community improvement is one of the many reasons Seth is a natural fit for Momentum.

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Thalmic Labs leases building across from Charlie West

Kitchener – The rapid pace of growth in downtown Kitchener continues, with the latest development happening directly across the street from Charlie West. The historic building at 27 Gaukel St. that’s been the longtime home to Shreiter’s Home Furnishing for years has been leased to Thalmic labs, the Kitchener-based technology company that currently occupies the adjacent building.

The top two floors of the 26,000-square-foot building are going to be used as office space, with the main floor containing an employee cafeteria and meeting space. Schreiter’s is the process of moving to their new Belmont Avenue location.

The Gaukel Street building was acquired last year by Vanguard Developments Corp., which plans to heavily invest in renovations.

“We are renovating the whole space into classic brick-and-beam office space,” said Vanguard co-owner Tom Rakic.

Thalmic Labs is anticipated to move into the new space this Fall.

We’re rallying for the 2021 Canada Games!

@CanadaGamesTogether with the Cities of Waterloo and Cambridge, Kitchener has submitted a bid for the Waterloo Region to become the host for the 2021 Canada Games. Momentum would never miss an opportunity to promote the Waterloo Region, and this bid is another great chance to put our home on the map!

But we need your help! The 2021 Canada Games is the largest multi-sport games in the country. Every two years, it alternates between a summer and winter event, and in 2021 we want to see the summer games in our amazing Region!

We are competing against three other Ontario communities: Ottawa, Niagara Region and Sudbury for the privilege to host this event. We can help convince the organizing committee that our Region’s enthusiasm to host the games is unparalleled – making Kitchener, Waterloo and Cambridge the best option to showcase the amazing athletic talents of our country’s youth.

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One Hundred Condominiums breaks ground in downtown Kitchener

Kitchener Mayor Berry Vrbanovic and Regional Chair Ken Seiling were on hand today to celebrate the ground breaking of One Hundred (100 Victoria St S), a large condominium project consisting of two towers and 348 residential suites in the Innovation District of downtown Kitchener. A strategic development partnership between two local development groups – Momentum Developments and Zehr Group – was announced.

After a lengthy OMB appeal that delayed the project by over 18 months, ground has now been broken on the first phase of One Hundred. The two towers will ultimately rise 15 and 19 storeys above a three-storey podium on Victoria Street. The first tower is slated for occupancy in late 2018. The second tower will be ready in 2020.

The City of Kitchener’s approval of the project was upheld by the Ontario Municipal Board, and One Hundred is now set to contribute to the advancing landscape of Kitchener’s Innovation District.

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Shaping Waterloo Region's Urban Horizon

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