WATERLOO — Drewlo Holdings has unveiled plans for a comprehensive development project at 475 to 485 King Street North in Waterloo.
The proposal entails the redevelopment of the subject lands for a mixed-use development comprising residential purpose-built rental apartments, townhouses, and commercial uses such as retail and office spaces, alongside underground and structured parking facilities.
The project is slated to feature eight residential towers. The tower heights include 16 storeys, 20 storeys, 22 storeys, 24 storeys, 26 storeys, and 28 storeys.
Alongside the residential towers are one commercial and two office buildings, offering to provide a significant mixed-use site to the area.
The proposed development site spans approximately 6.5 hectares and currently hosts the former Waterloo Inn Hotel, which will be demolished to make way for the new construction.
The site is situated within the Urban Area and is designated as a Built-Up Area, according to both the Regional Official Plan and the City of Waterloo Official Plan.
The development is proposed to accommodate a total of 3,556 residential units, including a mix of one-, two-, and three-bedroom configurations.
The project encompasses approximately 12,000 square metres of office space and 4,000 square metres of commercial space, catering to diverse business needs.
The proposal includes 2,500 parking spaces and 1,100 bicycle parking spaces, with provisions for secure indoor parking to support residents, visitors, and commercial activities.
Limited surface parking is also planned, primarily for visitors and short-term use. Furthermore, with access to the ION LRT Conestoga Station within walking distance and well-serviced local transit routes, the site offers excellent connectivity to the broader region.
The project’s built form encompasses a blend of office, residential, and commercial spaces, with two six-storey office buildings planned along the western edge adjacent to Weber Street.
The residential towers, ranging from 16 to 28 storeys, will feature a podium base offering amenities, parking, and potential commercial spaces.
However, before construction can commence, amendments to the Official Plan and the Zoning By-law are necessary, underscoring the project’s scope and impact.
The Official Plan amendment requests that the site be redesignated to permit the proposed development.
Presently designated as Commercial and Employment zones, the subject lands require re-designation to a ‘Mixed-Use High-Density Residential’ designation. An update to Schedule A5, delineating floodplain limits, is also necessary to accommodate the proposed changes.
Additionally, the proposal seeks approval for a maximum building height of 28 storeys, representing significant changes from the current regulations.
For the zoning amendment, the development is proposed to be rezoned and requests to add site-specific provisions.
The lands are currently split-zoned as C1-81 and C5-81.
The proposed zoning amendment aims to align with the proposed Official Plan amendment by rezoning the entirety of the subject lands to Mixed-Use High-Density Residential (RMU) 81.
Site-specific provisions being requested include:
● Building Height (minimum) required: Currently set at 13.5 metres for the RMU 8 zone—proposed adjustment: 4 metres to enable the inclusion of one-storey commercial spaces.
● Building Height (maximum) permitted: Presently capped at 81 metres and 25 storeys—proposed adjustment for the highest tower: 89 metres and 28 storeys for residential structures.
● Height of First Storey (minimum) required: Currently mandated at 4.5 metres. The proposed change for the site: Lowered to 3.0 metres for residential buildings.
● Horizontal Tower Dimensions (maximum) permitted: Presently limited to 40 metres—proposed modification: Increased to 44 metres for residential buildings and 50 metres for office use.
In summary, Drewlo Holdings’ proposed development represents a significant endeavour to reinvigorate the urban landscape of Waterloo.
As the proposal advances through the approval process, it stands to reshape the skyline and economic landscape of the region, offering a glimpse into Waterloo’s future development trajectory.
Comment Disclaimer:
The views and opinions expressed in the comments section of this blog are solely those of the individuals who submit them and do not necessarily reflect the opinions or beliefs of the author or the website owner. We do not endorse or support any comments that may be offensive, discriminatory, or harmful in nature.
We encourage open and respectful discussions and welcome diverse perspectives. However, it is important to remember that comments are the personal opinions of the commenters and not official representations of our stance or values. We reserve the right to moderate or remove comments that violate our comment policy or that we deem inappropriate.
Please engage in discussions with courtesy and respect for one another, keeping in mind that differing opinions can coexist in a constructive manner. Thank you for being a part of our community and for helping to maintain a positive and inclusive environment.
