Kitchener Mayor expects space to be leased ‘very quickly’ as buildings are constructed
After years of sitting dormant at the corner of Homer Watson and Bleams in Kitchener, the 37 acre property that once stood as the Budd Automotive Lands could be seeing some activity in the near future – quickly approaching plans for construction in the third quarter of 2021.
Purchased by Perimeter Development Corporation in April, the site is now planned to become the future home of the Homer Watson Business Park, bringing high-value industrial lands to market with over 700,000 square feet of space for light manufacturing, assembly or logistics operations.
“This important site represents a rare, large infill site in the heart of the most well-established employment area in Waterloo Region.” said Craig Beattie, Perimeter’s Chief Executive Officer. “The Kitchener market is experiencing an unhealthy deficiency of available quality industrial space…”
“Our Homer Watson Business Park will help fill this glaring need – and its proximity to available workforce makes it an ideal location for growing local businesses who need space to expand and companies looking to relocate to Waterloo Region.”
According to latest updates for the space, long time designer and manufacturer of office and healthcare furniture Krug Inc. has since purchased space in the property, with plans to consolidate operations to the business park – a move that Kitchener Mayor Berry Vrbanovic expressed excitement toward.
“I’m certainly pleased that an adjoining piece of land has been acquired by Krug,” said Vrbanovic. “This is a company that has more than a century long history in our community, and to know that they are planning to consolidate to one efficient site, and continue building the fine products that they have been for over 100 years is tremendous news.”
With files from James Sebastian-Scott & Lisa Drew