Waterloo is facing a big glut of student housing.
That from a local real estate expert, says the oversupply of student housing is far worse than previously thought.
Karl Innanen of Colliers International tells The Record one of the new student apartment buildings in Waterloo is in power of sale proceedings.
Innanen says there’s an oversupply of nearly 1,200 beds, but when planned new developments are included, the surplus increases to over 8,300.
He adds student enrolment won’t be nearly enough to absorb the extra beds.