Condominium boom underway in the town of Tecumseh

Developers are racing to keep pace with housing demand in Windsor-Essex, and a stroll along Tecumseh’s Main Street is an early indication that a condominium boom is underway in the municipality.

“Things have been a little slow in our municipality for the past five years, but the census certainly doesn’t pick up all of this activity that’s going on right now,” says Tecumseh Mayor Gary McNamara, who currently says likewise, 1,000 condo units are currently under construction in the city.

On Tecumseh Road alone, approximately 400 units are currently under construction, including Valente Development’s Gateway Tower, which will soon have 99 rental units. In partnership with the Canadian Mortgage and Housing Commission, 33% of the units will be considered affordable housing.

“It’s kind of a hybrid between a market rent project and an affordable rent project, which I’m very proud to bring to the town of Tecumseh,” says Peter Valente of Valente Development and Real Estate.

Mayor McNamara attributes the boom to a combination of market conditions like housing demand and profitability, which prompted a migration of retirees from the Greater Toronto Area.

“As soon as COVID hit, we had a lull, and then all of a sudden things took off like a rocket,” says Valente. “There’s just been so much investor interest.”

The mayor also credits the city’s Community Improvement Plan, designed to freshen up the downtown area through intensification and make it a more walkable community.

“We had to create an atmosphere to say look, we need help, help us revitalize this area, and we’ll give you the opportunity to do that,” McNamara says.

To date, McNamara has told CTV Windsor the city has given $700,000 in tax breaks to developers to get shovels in the ground.

The spin-off, McNamara says, is more investment in neighboring commercial space.

“You can see that the business community sees that we’re bringing people to the area, so it makes sense to start a business,” he says.

Mayor McNamara expects the same volume of new construction over the next two to three years to match the growing demand for housing, which he says will help give downtown a more urban flavor over time. time.

“You’re going to start seeing that transformation finally happen,” McNamara says.

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