A massive 12 tower development could replace old Kraus Carpet Factory
Posted Dec 5, 2023 12:08:36 PM.
Last Updated Dec 5, 2023 12:08:39 PM.
A development proposal coming to Waterloo city council could see 12 high-rise towers at the site of the old Kraus Carpet Factory.
If approved, the site would bring 3,353 mixed-use apartment units between the 12 towers, ranging from 18 to 35 storeys. The development includes would create nine new blocks that would be completed in two phases.
The developer, Northfield Properties, has submitted the proposal three times since June 2021. Each time, they have made changes with consultations with city planners. The most recent changes saw decreases in parking spots and units.
The Kraus Carpet factory closed down in 2018. The 10.7 hectare site is located between two ION rail transit stations and down the street from Conestoga Mall.
Waterloo has pledged to build 16,000 homes by 2031 as part of the province’s pledge to build 1.5 million homes.
Council will hear the proposal on December 11.
