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Growing Job Prospects, Expanding Population and
Urbanization Aid Multifamily Performance
Evolving economy fuels multifamily demand.Southwestern Ontario has traditionally been known to be heavily invested in large-scale industrial operations. Hamilton is home to steel production and hosts one of the largest ports on Lake Ontario, while St. Catherines also holds a large industrial presence in the automotive sector. Combined with the region’s proximity to the U.S. border, it is one of the fastest-growing industrial hubs in North America. In recent years, Southwestern Ontario has also seen rapid growth in newer industries. London and Windsor are expanding their advanced manufacturing capabilities amid heavy investment in electric vehicle battery manufacturing, Kitchener-Waterloo is regarded as a leading technology and innovation hub, and Hamilton is one of Canada’s fastest-growing life science and biotech clusters. These growing job prospects — along with the metro’s lower cost of living — are supporting healthy growth in its young adult population. In turn, this is driving urbanization and robust apartment rental demand.