Developments will relieve pressure on overheated rental market in Waterloo: Prica - constructconnect.com - Daily Commercial News

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Waterloo, Ont.-based developer and property manager Prica Global Enterprises is gearing up for the completion of two rental developments in Waterloo that will relieve significant pressure on the overheated rental market in that city.

The Canada Mortgage and Housing Corporation reported the Waterloo rental market to be at record low vacancy rates in early 2023.

The 20-month construction timeframe stems from a unique three-phased construction. The lower levels of the building were completed and furnished first, then moving upwards towards completing higher storeys of the development until roof capping and completion, indicates a release.

 

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