WATERLOO — 14688210 Canada Inc. has submitted a proposal to develop new residential buildings at 177 to 179 Albert St.
The proposal includes one residential tower mounted on a podium, accommodating parking facilities and a total of 172 bedrooms.
The proposed development seeks significant adjustments to the Official Plan and the Zoning By-law.
Pertinent modifications include permitting a maximum density above the existing cap of 750 bedrooms per hectare, extending it to 1,064
bedrooms per hectare.
Corresponding adjustments in the Zoning By-law entail elevating the maximum permitted density to align with the proposed plan.
Further changes from the existing regulations include reducing the mandated landscaped open space from 30% to 24%.
Moreover, modifications in the minimum required tower separation from the internal lot lines are proposed, decreasing from 11 metres to 9.5 metres along the northerly internal lot line and 10.8 metres along the westerly internal lot
line.
Parking provisions are a vital aspect of the proposed development, with a residential parking rate of 0.2 spaces per bedroom for residents and
0.05 spaces per bedroom for visitors.
The plan allocates 44 parking spaces, comprising 18 surface spots and 26 underground spaces. Of these, 35 spaces are designated for residents, while nine spaces cater to visitors’ parking needs.
Additionally, the proposal addresses bicycle parking, with 88 bicycle parking spaces, encompassing both indoor and outdoor facilities to encourage alternative modes of transportation.
The development plans outline the construction of a 24-storey tower standing at a height of 75.24 metres, with a mix of 146 units, comprising 120 one-bedroom units and 26 two-bedroom units.
The project aims to integrate amenities such as a Fitness Room on the ground floor and landscaped areas facing Albert Street and Seagram Drive.
The subject lands, occupying a total area of 0.1617 hectares at the northwest corner of Albert Street and Seagram Drive, currently host two detached low-rise buildings slated for demolition to pave the way for the
proposed development.
The proposed amendments align with the broader urban development vision and are crucial for creating a vibrant and sustainable urban landscape in Ontario.
The proposal marks a significant step toward redefining residential spaces in Ontario, catering to evolving urban lifestyles.
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