WATERLOO – HIP Developments, operating under HIP Post LP, has successfully obtained approval for zoning amendments for 70 King Street North, marking a significant milestone in their endeavour to bring the Strata Condos project to fruition.
The approved proposal is poised to reshape the landscape of the Uptown Commercial Core in the city.
The proposed development will see the construction of a 25-storey mixed-use building soaring to 84.5 metres.
The impressive structure will encompass a diverse array of offerings, including a 1,815 square metre learning center dedicated to STEAM (science, technology, engineering, art, and math) programming, 243 residential units comprising 366 bedrooms, and a blend of private and public rooftop amenity spaces situated atop the podium.
Furthermore, the plan allocates 168 parking spaces to accommodate residents and visitors.
Several amendments to the existing zoning bylaws have been approved to realize this vision.
These include an increase in density from 750 bedrooms per hectare to 855 bedrooms per hectare, a reduction in non-residential parking rates, adjustments to tower setbacks from 3.0 to 2.0 metres along Regina Street, and an elevation of the maximum permitted building height to 84.5 metres.
In order to proceed with the development, the applicant has met various conditions, such as providing evidence of compliance with noise guidelines, executing agreements for zoning amendments, and conducting thorough studies on topics ranging from hydrogeology to parking allocation.
Situated within the Uptown Commercial Core, the site spans approximately 0.43 hectares and boasts frontages on both King Street and Regina Street.
Previously occupied by a low-rise commercial building and a surface parking area, the land holds immense potential for revitalization through the approved project.
Notably, the Strata Condos proposal marks a departure from a previously approved development concept, which envisioned multiple towers and a different distribution of residential and non-residential spaces.
The revised plan, however, maintains its commitment to offering a vibrant mix of uses while incorporating adjustments based on community feedback and evolving needs.
The development concept also emphasizes sustainability and community engagement, with provisions for bicycle parking and a potential community-use space within the podium area.
Access to the site is planned via two driveways on Regina Street, facilitating smooth traffic flow and efficient parking arrangements.
With the approval of new site-specific zoning regulations, including adjustments to density, building height, parking rates, and tower setbacks, the Strata Condos project is poised to redefine urban living in the heart of the Uptown Commercial Core.
Residents can anticipate a vibrant and sustainable community hub that integrates residential, educational, and recreational amenities.
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