CAMBRIDGE — A development proposal for 1,046 apartment units across multiple buildings at 777 Laurel Street is under review by staff.
The existing site is designated for industrial use, and the developer, E Squared Developments Corp., has proposed to change the site to residential use.
If approved, demolition of the existing buildings would allow for the construction of the development.
In the development proposal, the tower heights are requested to range from 7-14 storeys, with six towers in total.
A shared podium between the four towers in the back of the development site will be 2-3 storeys in height.
The podium will provide a majority of the parking for the development. In the podium, 921 parking spaces will be provided in the parking structure, and surface parking will provide 127 spaces.
The development will provide 1,046 parking spaces in total. A total of 326 bicycle spaces will also provided. Of the spaces, 314 will be designated long-term and indoor, and the remaining 12 will be designated short-term and outside near the main entrance for visitors.
The developer has requested zoning and Official Plan amendment applications to facilitate the proposed development.
The zoning amendment requests to rezone the site from the ‘Industrial M3’ zone to the ‘Multiple-Residential RM1’ zone with site-specific provisions.
Approving the zone change, along with the provisions, would permit an increased density and building height, a decrease in parking requirements, and a reduced amenity area.
Examples of the requested provisions include but are not limited to permitting a maximum density of up to 3.0 FSI (Floor Space Index) from the required 2.0, permitting a minimum amenity area requirement of 15.0 metres squared, whereas 20-30 metres squared is currently required, and permitting a parking requirement of 1.0 space per dwelling unit including visitors whereas 1.25 is required.
The Official Plan amendment requests to redesignate the lands from ‘Business industrial’ to ‘High-Density Residential.’
Changing the land designation will permit the proposed development on the existing site.
Examples of the proposed amenity areas include ground-floor indoor amenity areas in each building and outdoor amenity areas central to three towers, with a rooftop terrace on the podium.
The subject lands are within a ‘Built-Up Area’ and a ‘Regeneration Area.’
The location of the planned Preston MTSA (Major Transit Station Area) is located within a 15-minute walk of the site, providing active transportation routes within proximity.
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