CAMBRIDGE — GSP Group Inc., commissioned by Cambridge Development Inc., plans to construct a transformative mixed-use development at 130 Water Street North in the heart of Cambridge.
Led by the esteemed Pearle Hospitality, the proposed development aims to revitalize the area with a fusion of hospitality, residential, and commercial spaces.
The Official Plan and Zoning By-law Amendments, approved in 2021, will pave the way for a contemporary mixed-use building comprising a 28-storey hotel tower and a striking 37-storey residential tower.
Situated on an irregularly shaped 0.6265-hectare plot with approximately 117.5 metres of frontage along Water Street North, the site promises to redefine the city’s skyline.
The development features a host of shared amenities, including a pool, roof terraces, lounge areas, fitness facilities, spa services, and outdoor common spaces designed to cater to both visitors and residents.
A ground-floor restaurant will add to the vibrancy of the locale, enhancing the community’s social fabric.
The approved Official Plan Amendment introduces key permissions, including a maximum Floor Space Index (FSI) of 10.09, whereas 2.5 is permitted.
Notably, a maximum height of 143 metres for the residential tower and 112 meters for the hotel tower will accentuate the cityscape.
The Zoning By-law Amendment received approval to rezone the site from OS1 and (F)C1 RM1 to OS1(s.4.1.___) and (F)C1 RM1(s.4.1.___), which includes special provisions.
To accommodate the ambitious vision, the Zoning By-law Amendment outlines site-specific provisions that have received approval:
● Permitting Off-Street Parking on Separate Lots: Specifically, the provision was approved for 7 Simcoe, 119, 123, and 125 – 129 Water Street East in Cambridge.
● Density Increase: The provision was approved to increase the maximum density for the subject lands from 250 units per hectare to 404 units per hectare.
● Front Yard Setback Reduction: The provision was approved to reduce the minimum front yard setback from 4.5 metres to 1.5 metres.
● Landscaped Open Space: The approved provision will reduce the required landscaped open space from 30% to 26%.
● Parking and Loading Spaces: The approved provision reduces the minimum required loading spaces from 2.0 spaces to 1.0 spaces.
The site currently has a parking lot comprising 68 parking spaces servicing the Cambridge Mill Restaurant. These parking spaces will be relocated to the two-level Simcoe Street parking garage, at 125-129 Water Street North.
The site will see 253 spaces for the residential building, 110 spaces for the hotel, 137 additional spaces for the Cambridge Mill in the parking garage, and 46 spaces for the retail and commercial portions.
Designated barrier-free spaces have also been included, with 18 spaces in total.
Provisions for bicycle parking have been approved at a rate of 0.3 spaces per unit, with 100 spaces in total.
Additionally, the current one-way street (fronting the development site) will be transformed into a two-way street, allowing for the development to take place.
The development promises to invigorate the cityscape, offering a harmonious blend of modern living, hospitality, and commercial opportunities.
As Cambridge continues to evolve, this landmark project stands poised to shape the city’s skyline and social fabric for generations to come.
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