Investing in Windsor Ontario

[Scott Innocente]

There is a lot of economic development going on in Windsor right now, so I've started this thread to keep people up to date on all the latest news.  As we all know, economic development is directly correlated with real estate prices; keeping track of the latest news should help all us be better real estate investors.  Check back regularly for updates!

[Scott Innocente]

Developers already considering core projects after city waives fees

Just as management and leadership is infinitely important in sports, business, or any other venture, so too is management hugely important when running a city; it appears that Windsor finally has competent management that understand the importance of attracting private investment to spur growth and development.

Windsor city council recently announced that they will be waiving development fees for any new construction almost anywhere in the city.  These development fees often tilted the scale of whether or not a project was financially viable.  Now that the fees have been waived, we've seen a big spurt in announcements for major projects including a 100+ unit luxury condo building in downtown Windsor which will be built by the Valente Group.

Windsor developers hope that this new development spurs spin-off development:

“I don’t think there’s much rental supply downtown right now,” Valente said Wednesday. “If the city is looking to revitalize downtown the first step is new multi-family development, starting with rentals.  Once you have new residents then there will be demand for a butcher shop, a hardware store, a grocery store and related services.”

In sum, Windsor finally has competent management that understands that private money fuels economic growth and they are doing what is necessary to attract it.  After over a decade of little-to-no development in Windsor, we are starting to see these incentives really pay off.

Windsor Waives Development Fees