Niagara Falls is not only a leading global tourist attraction, it is also one of the most popular honeymoon destinations in the world, and a new luxury apartment complex just minutes away is taking advantage that.
Riverwalk Niagara will be a five-story, 51-unit condominium with unit sizes ranging from 700-1,600 sq ft in Chippawa, ON, just 4 kilometers from the Falls and just across the street from family favorite Kingsbridge Park. The building’s rooftop terrace also offers unobstructed views of the beautiful Niagara River and the Niagara Falls skyline.
“The interesting thing about this is that, given the location and proximity to the Falls, the potential for both short and long term rentals is quite high,” said Shaminder Gogna, profile broker and founder. Condoville Realty Inc., a sales group that acts as a strategic partner in real estate development and operates in the secondary and tertiary markets, specializing in filled locations.
“Niagara Falls is one of the top honeymoon destinations in the world. You’ve got the travel fundamentals in place, and with COVID causing people to leave larger neighboring cities for suburban areas, we’ve seen a lot of value in the Niagara area. Over the past two years, property prices in this area have increased by 20%, and so a lot of people are choosing to live or invest there.”
In fact, several applications for developments just south of Niagara Falls have been filed, but it is unlikely that mortgages for units in those projects will perform very well as prices will soar. at that time. However, as one of the first few new developments in the area, Gogna said the rents for the Riverwalk Niagara apartments would be easily mortgageable.
“This is the first of many developments that will happen over the next decade,” he said. “Growth models and pricing will suggest that this is where you want to put your money — it’s an area visited by end users, you have this massive tourist attraction, and you There are buyers around like recreational properties, some of which you can rent and sell in the coming years. “
The area has many amenities with several golf courses and MarineLand is just minutes away, and Buffalo Niagara International Airport is just half an hour away.
“For anyone looking to get back and forth between Buffalo and Ontario, this is a great opportunity,” said Rahmat Bawari, Condoville sales manager. “Niagara-on-the-Lake, home to 88 wineries, is just 15 minutes away; 25 minutes to St. Catharines and Brock University; and Metrolinx, which is expected to have a connection to Union Station in Toronto, less than 10 minutes away. All the larger fundamentals needed for living and investing are within the 10-15 range of the Riverwalk Niagara. “
https://www.canadianrealestatemagazine.ca/news/new-condo-launches-next-to-niagara-falls-334764.aspx | New condo launches next to Niagara Falls