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Industrial parks provide significant investment opportunities and can be a mix of heavy industry with business and office. As part of a new series, we will be examining the different areas zoned within the Niagara Region with the planned purpose of industrial development.
The St. Catharines industrial parks are spread throughout the city, each with strategic access and growth potential. Port Weller is located in North St. Catharines at the north end of the Welland Canal. Divided between East and West, the West has historically had a larger population, due in part to the East's predominate industrial and agricultural sector. However, recent developments have seen a large amount of growth in Port Weller East. The area offers a strategic location resulting in a prime location for residential and industrial growth development within Niagara.
An industrial focus
Located in Port Weller East is the Port Weller Industrial Park, consisting of modern, light manufacturing and warehouse plants, some industrial malls, and older industrial complexes. The area also features vacant land, present and available for development. The industrial park’s strategic location affords companies with multiple transportation methods, as the site is within close proximity to the Welland Canal at Lock 1 and only a ten minute drive from the QEW.
A significant sale
In September 2014, Trenergy Inc. purchased the Port Weller Dry Docks for a price of $12.62 per sq. ft. for a total cost of $1,350,000. The purchase involved the sale of a heavy manufacturing facility, formerly used as an industrial ship repair facility with up to 62’ clear ceiling height and 15% office.
A residential push
The northwest sector of Port Weller East has been experiencing a surge in residential development. Grey Forest Homes developed the site of the former greenhouse, Broadway Gardens, into a subdivision with 48 mainly single family detached dwelling and lakefront condominium development with 53 units. The homes range from two bedroom bungalows to four bedroom, two story homes for growing families. Sale prices for detached dwellings have ranged from $100,000 to $525,000 with an average selling price of $163,856 and the majority of the development has been sold.
The trend in Port Weller East will continue to be focused on residential and the development of industrial complexes, consisting of small scale light industrial manufacturing, public storage facilities and industrial malls. The area's location offers strategic advantage for developers, with the Welland Canal acting as a shipping method for businesses and a community for residents. Connect with a Niagara real estate appraiser today to discover the development opportunities within Niagara.
