KITCHENER — Falco Group has proposed an ambitious mixed-use tower development on Victoria Street. The development features three towers ranging from 18 to 40 storeys atop a shared 4-6 storey podium at 236-264 Victoria Street North.
The proposal outlines 1,076 residential units, complemented by approximately 1,113.5 m2 of commercial/retail space at grade along the Victoria Street façade, creating a vibrant and dynamic urban environment.
The development’s gross floor area is estimated to be around 124,080 m2, with a Floor Space Ratio (FSR) of 10.5.
Appendix A of the proposal contains renderings and a detailed site plan. These showcase a thoughtful design that incorporates a combination of materials, including brick and glass, distinguishing the podium from the towers.
The proposed development includes a private outdoor rooftop amenity space on top of the western 4-storey podium for all residents to enhance community living.
Additionally, a public plaza space adorned with a coloured-glass feature is suggested mid-block off Victoria Street, providing a passive amenity area for residents and pedestrians.
The parking infrastructure is designed to accommodate the needs of residents and visitors, with one level of underground parking and six levels of structured parking within the podiums. Access points to the structured parking area are strategically located on Victoria Street and St. Leger Street.
The proposal significantly emphasizes active transportation in a nod to sustainable urban living. 1,566 indoor secure bicycle parking spaces are proposed on Levels 1 and P2, and eight outdoor bicycle parking spaces are proposed for short-term use.
The subject lands, designated as Mixed Use on Map 3 of the City of Kitchener Official Plan, are transforming, seeking an Official Plan Amendment to permit a maximum Floor Space Ratio of 10.5 and a maximum building height of 40 storeys, exceeding the current 4.0 FSR limit.
Section 7.0 of the proposal details a comprehensive review of official plan policies, with a draft Official Plan Amendment included as Appendix C.
To implement the proposed development, the applicant is concurrently seeking a Zoning By-law Amendment, including provisions to delete Site Specific Provision 126, amend Section 8.3 to permit an FSR of 10.5, and seek permission for a maximum building height of 124.5 meters.
Furthermore, the zoning amendment request outlines adjustments to parking requirements and provisions for non-residential parking.
While the subject lands are currently within an Urban Corridor and no longer proposed to be within a Major Transit Station Area (MTSA), the proposed changes align with the Provincial, Regional, and local policy direction, emphasizing intensification within built-up areas.
The proposal aims to facilitate efficient land use, utilizing existing infrastructure, transit, and community facilities.
As the City of Kitchener reviews this transformative proposal, it signifies a significant step toward sustainable urban growth in the region.
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