WATERLOO — A groundbreaking development project is poised to reshape a 4.72-hectare site in the heart of Waterloo at 446 Albert Street, emphasizing urban revitalization and transit-oriented development.
Once an industrial manufacturing plant, the subject site holds significant promise for a vibrant and diverse community.
Nestled within the Research & Technology Major Transit Station Area (MTSA), the Subject Site is set to transform into a complete community, aligning with the city’s vision for transit-supportive development.
The proposed project, featuring 13 buildings ranging from 8 to 30 storeys, aims to create a pedestrian-friendly, mixed-use, high-density environment.
The Planning Partnership has been retained by the developer, Prica Global Enterprises Inc., to design the development.
The Proposed Development presents a comprehensive plan comprising 2,833 residential units, 5,250 square meters of non-residential gross floor area, 1,748 bicycle parking spaces, and 1,366 vehicle parking spaces.
The residential units will include a mix of one-, two–, and three-bedroom apartments, with 3% designated for affordable housing.
Aligned with current City Zoning By-law requirements, the Proposed Development efficiently allocates bicycle parking at a rate of 0.6 spaces per residential unit and 46 bicycle parking spaces for non-residential uses based on 40% of the vehicular supply.
Vehicular parking, including visitor parking, is proposed at a rate of 0.44 spaces per residential unit and two spaces per 100 square meters for non-residential uses.
The proposed Official Plan and Zoning By-law amendments highlight the project’s transformative nature.
These include but are not limited to:
The requested changes to the Official Plan Include:
● Re-designating the subject lands from ‘Employment’ to ‘Mixed-Use High-Density Residential.’
● Identifying a local road on subject lands.
● Removing the subject lands from Schedule A2.
● Identifying a ‘City-Wide Cycling and Multi-Use Route’ and multiple ‘Active Transportation Connections’ on the subject lands.
● Re-designating the subject lands from ‘Medium-High Density Employment, 40 meters’ to ‘High Density, 81 meters.’
● Amending site-specific provision 59 to reflect the proposed development.
The requested changes to the Zoning By-law include:
● Expanding the range of permitted uses.
● Establishing a reduced parking requirement of 0.39 spaces per unit for residents and 0.05 spaces for visitors.
● Removing the minimum street line setback requirement.
● Adjust the bicycle parking requirements to remove the specific requirement for Type A and Type B and allow for one type and stacked bicycle parking.
● Providing for additional flexibility in tower separation and design.
● Increasing the maximum street line setback for buildings 4.1 and 5.1.
● Establishing minimum density requirements for two and 3-bedroom units and affordable units.
● Removing the maximum building floor area limit.
● Increase the maximum height limit to 30 storeys and 100 meters for buildings 5.1.
The proposed amendments will pave the way for Site Plan Approval Applications and Draft Plan of Subdivision, aligning with the city’s broader planning goals, emphasizing the creation of complete communities, promoting transit-oriented development, and fostering 15-minute neighbourhoods.
The land development in Waterloo represents a significant departure from the past, presenting a transformative vision that embraces modern urban living.
The requested amendments highlight the project’s innovative nature, promising Waterloo a vibrant and dynamic future
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