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Windsor Ontario is a city on the verge of expansion. With investors turning their eyes south and developers planning major projects in the region, the city’s years as a small, overlooked part of Ontario’s landscape are seemingly coming to an end. So, investors get ready because the Winsor real estate market is a rocket preparing for take-off.
While the city used to go relatively underappreciated in the greater Ontario landscape, recent years have seen the Windsor Real Estate market expand at an alarming rate – all while creating high levels of equity for the investors who had gotten into the market early. Fortunately for investors who are still waiting on the sidelines, the city appears to be on the verge of further growth.
So, if you would like to know what to expect from Windsor in the coming years so that you can invest around it, here is what you should expect.
However, before you get started, if you would like to book a free strategy call with our team at LendCity to discuss financing your Windsor real estate investments, click the link below to get started.
Upcoming Developments in Windsor Real Estate
In terms of verified developments, there are three major projects underway in Windsor that investors should be keeping their eyes out for. Each of these are expected to not only bring new jobs into the city, but with it the number of new residents moving into Windsor is expected to grow.
These developments are:
Gordie Howe International Bridge
Windsor has already built its reputation off of its two international border crossings in the form of the Ambassador Bridge and the Detroit-Windsor Tunnel. Now, work is actively underway to construct a third crossing in the form of the Gordie Howe International Bridge. This project is expected to simultaneously bring new jobs into the city in the form of border security, maintenance and logistics as well as bolster the international trade and tourism industries on both sides of the border due to the ease of travel that will be created by adding an additional bridge.
Canada’s First Electric Vehicle Battery Plant
Stellantis and LG Energy Solution recently announced their plans for a $5 billion electric vehicle battery plant in Windsor. This would be the first one to be constructed in Canada. Considering recent efforts to incentivise Canadians to purchase electric vehicles over gasoline powered ones, this is expected to be a successful project that sparks a new wave of industrial development in Windsor and beyond. To start, this project is expected to create 2500 jobs in the plant, with room for more if operations and related industries later expand.
Windsor’s Mega Hospital
Finally, the city is due to receive a new ‘mega hospital’ within the next few years. Once the hospital is operational it is expected to house 500 hospital beds. This $2 billion investment by Windsor Regional Hospital is expected to bring top-of-the line medical equipment and care into the region, thus making Windsor and its surrounding counties a destination for medical professionals and families alike.
Discover How To Buy Commercial Real Estate With This Step By Step Guide
Leveraging the Detroit River with Windsor Real Estate
One of the key reasons why Windsor makes such an ideal commercial market is the ability to leverage the city’s location along the Detroit River. This location provides Windsor-based investments with access to both Canadian and American markets in terms of both trade and tourism. Notably, bars, restaurants and other establishments that serve alcohol in Windsor see a great deal of business from Michigan residents who chose to spend their weekends on this side of the border to circumvent the American legal drinking age of 21.
This also bleeds into the hotel and short-term rental industries as many American visitors would rather opt to stay the night in Windsor and return home on their own in the morning than rely on cabs, designated drivers and the tunnel bus service in order to return home at night.
Housing the Newcomer Population
Windsor has been a popular location for newcomers to Canada to settle and begin to plant roots for many years now. However, in recent years, an increased investment into the international student programs at St. Clair College and the University of Windsor has increased the number of newcomers who are flocking into the city. As a result, the demand for housing in the city has begun to spike as these students and their families look for affordable accommodations.
This in turn has created a new demand for large-scale multifamily developers to come into the region in order to construct their housing projects. That means that large apartment complexes, condominiums and townhouse developments are among some of the largest in-demand properties in the city.
As well, many of these newcomers are people who wish to start their own businesses, which means that commercial properties such as storefronts, restaurants and office spaces have also seen an increased demand in recent years.
Windsor Real Estate Housing Developments
As one of the top growing cities in Ontario, Windsor is among one of the cities that is making a push to increase their capacity for housing development for the next decade. Based on current averages, the city of Windsor is projected to build up to 13,000 new homes in the next ten years. However, in order to keep up with current market demand, the city needs to build a total of 30,000 new homes.
This goal is currently being prohibited by a combination of protected conservation areas and a lack of proper plumbing, sewage and electrical infrastructure in currently uninhabited parts of the city’s territory. In turn, in order to meet this demand, the city is not only currently encouraging developers, planners and construction workers to come into the city, but infrastructure workers who can help establish the needed power, water and waste lines in order to meet the demand.
Windsor Real Estate – Investing in the Border City
Many investors sit on the border of being passive, part-time investors and active, full-time investors. If you are ready to cross that border and start making real, meaningful wealth, Windsor may be the place for you.
So, get started planning your commercial investments and developments today by securing the financing you need from our dedicated commercial financing team. That way you can spend more time investing and less time organizing your finances.
To get started today, visit us at LendCity.ca or give us a call at 519-960-0370.
Windsor Real Estate Professionals
This is a list of trusted real estate professionals that service the Windsor Real Estate Market.
Mortgage Brokers
LendCity Mortgages
If you would like to book a free strategy call with our team at LendCity, click the link below.