Condos will be built on a half-acre site in downtown Kitchener.
Commercial real estate broker Peter Benninger says the property at 24 Gaukel Street, at the corner of Gaukel and Charles streets, has been sold to Momentum Developments.
The property currently houses two businesses – a restaurant and an auto shop. According to Benninger, both will remain in operation for the time being.
Benninger says Momentum will be releasing more information soon about their plans for the site, which call for a “multi-storey” condo building with commercial operations on its main floor.
Momentum was the developer of the One Victoria condos, and is also behind the One Hundred project currently underway further down Victoria Street.
The sale closes in the fall. No purchase price was divulged.
