KITCHENER — A proposal for a new apartment tower at 1388 Highland Road West in Kitchener promises to bring much-needed affordable housing to the region.
Led by Savic Homes, a local rental housing development company, the project aims to address the growing demand for affordable living spaces in Waterloo Region.
The 1.13-acre property, situated on the north side of Highland Road West, approximately 425 metres east of Ira Needles Boulevard, was one of four regionally owned parcels declared surplus in 2021.
The initiative, part of the Building Better Futures Initiative, seeks to accelerate the development of 2,500 affordable homes across the Waterloo Region over five years.
The proposed development features a 17-storey building housing an estimated 208 dwelling units, with approximately 30 percent (64 units) designated as affordable housing.
A mix of 1-bedroom, 2-bedroom, and 3-bedroom units aims to cater to various household sizes and needs within the community.
In addition to residential units, the project includes an 88-space childcare center, addressing the demand for high-quality and affordable childcare services in the neighbourhood.
In November 2022, a parking ratio for the site was approved for 0.68 spaces per unit, a deduction from the required 1.1 spaces per unit, including visitor parking, through the approval of a minor variance application.
The development concept from 2022 previously suggested with the reduced parking rate was a 10-storey building with 151 dwelling units.
If any changes are proposed for the parking, they have yet to be released.
The commitment to affordability ensures that at least 30 percent of the units will remain affordable for a minimum of 40 years, with rents set at or below 80 percent of the Canadian Mortgage and Housing Corporation (CMHC) Median Market Rent (MMR) for Waterloo Region.
The site, located off Ira Needles Boulevard, offers convenient access to public transportation, with nearby bus stops.
Savic Homes, with over 25 years of experience in Waterloo Region, will lead the design, construction, and long-term management of the property, as outlined in the Region of Waterloo’s Request-for-Proposal (RFP).
The company’s track record in developing a broad mix of rental apartment and townhouse types, including numerous affordable units, underscores its commitment to addressing the region’s housing needs.
The property is zoned RES-7, denoting High-Density Residential.
The zoning designation aligns with the project’s objectives of providing dense, mixed-income housing options within the community.
The proposed development represents a significant step in the region’s efforts to combat the affordable housing crisis, leveraging public-private partnerships to provide sustainable solutions for residents.
Pending approval, the project is poised to make a meaningful impact on the availability of affordable housing in Kitchener and contribute to the region’s long-term development goals.
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