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With the Windsor area’s real estate and rental markets spiralling out of control for many in terms of availability and affordability, Mayor Drew Dilkens hosted an online roundtable discussion on Wednesday designed to provide answers on what lies ahead.
In the past year alone, the average home price in Windsor-Essex County has jumped 25 per cent, while the value of residential construction is up more than $1 million in the first quarter of 2021 compared to the same time frame last year.
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You’d think one of Windsor’s biggest commercial landlords might have plenty to worry about, what with a third pandemic lockdown hammering its long list of suffering office, retail and hospitality business tenants.
But developer Joe Mikhail sees plenty of future upside for the city, so much so that Mikhail Holdings Ltd., for the first time in decades, is building a retail/commercial development on speculation. It’s a sign of strong optimism in Windsor’s post-pandemic future that the Mikhail brothers, including John and Lou, are forging ahead with spending on plans, design and construction of a twin commercial development for which they don’t yet have tenants.