KITCHENER — On November 6, 2023, the Official Plan and zoning by-law amendments with a site-specific provision and holding provision were approved at a City Council meeting for an 11-storey development at 2934 King Street East.
The development was also recently approved at a Planning and Strategic Initiatives Committee meeting on October 30, 2023.
The developer and owner of the property is Petrogold, a real estate development company.
The existing commercial plaza, which is 585 square metres of space, will be demolished to provide space for the redevelopment.
The development proposal comprises 77 residential units and three large ground-floor commercial units with 1217 square metres of space in total.
The City’s Tall Building Guidelines classify the building as a “Compact Point Tower.”
The proposal consists of 100 bicycle spaces and 157 parking spaces. The parking spaces contain 140 spaces in a two-level underground parking structure and 17 spaces in a surface lot. Both the bicycle and parking spaces exceed the City’s requirements.
The subject lands are outside of an MTSA, but not by much distance. The property is within a 20-minute walk (approximately 2km) of the Fairway ION Station and Fairway LRT Stop. Also, GRT stop number 8 and Highway 8 are within 500m of the property.
The subject lands are within an area designed for significant development intensification, known as an ‘Urban Corridor’ and ‘Built-Up Area,’ as stated in the staff report.
The development proposal supports reaching the Region’s goal of making better use of land and infrastructure and helps to work towards creating 15-minute neighbourhoods in the City.
The property has received approval for a land designation change to ‘Mixed-Use’ from ‘Commercial-Use.’ The land designation change permits residential and commercial development, whereas only commercial was previously allowed.
Site Specific Provision (382) and a new Holding Provision 55H have been added to the existing zoning, ‘General Commercial Zone (COM-2)’, as stated in the staff report.
The provision (382) allows for the Mixed-Use development with certain exceptions specific to the property, and the holding provision (55H) requires a Record of Site Condition and a noise and transportation study before permits can be granted to the developer.
There are eight special regulations for the provision. A few examples of the regulations include an increase in FSR (floor space ratio) of 2.6 from the permitted 0.6, an increase in required parking spaces to 1.65 spaces per dwelling unit, and reduced yard setbacks requested to 3.5m for the rear and 2.5m for the side from the required 7.5m and 3m.
The proposal includes indoor amenity areas on floors 2 and 11 and two outdoor rooftop amenity spaces on the second floor.
Also, an outdoor garden pavilion for residents has been approved by City staff for the corner of the property, at the corner of Centreville and Morgan Street.
The property is near restaurants, retail stores, clinics, institutions, and more, making the property location a well-situated area for development.
To read all articles for this specific property, click here.
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