12 tower development approved for 65 Northfield Dr. West
Posted Dec 12, 2023 04:47:39 PM.
Last Updated Dec 12, 2023 04:48:12 PM.
The new development will take over the site of the former Kraus Carpet Factory in North Waterloo. The plan for the site was approved unanimously Monday evening by Waterloo city council.
The 12 towers will be home to a proposed 3,353 residential units and 2,675 parking spaces. It will also contain about 8,000 sq.m. of non-residential space that will be used for shops or possibly a daycare. Non-residential units are planned for the ground floors of the buildings.
The high-density mixed-use development will contain a significant amount of park space and trails, that the owner of the site said will be maintained by them and not the city.
“It is essential to also underscore the 8.5 acres of expansive green space and park land which we view as the heart of this new community,” said Richard Boyer, owner of 65 Northfield Drive Inc. during the council meeting. “Upon entering the Central Park community, the emphasis shifts away from cars allowing the residents instead to relish the ambiance of the park. Sustainability is a leading feature of our design.”
The development is focused on the lands north of the hydro corridor, and the lands to the south will be retained by the owner as employment lands.
Kraus Flooring ceased operations on the site in 2018. In February of 2021, Hilco filed the first application for the site to be redeveloped which was denied. Last year, Richard Boyer’s company, Solowave Investments Limited, bought the site and changed the plan for redeveloping the site. It was approved Monday.
“I believe Conestogo Park Square contains all the elements to become a sought-after new neighbourhood to live, making it a great addition to the city,” said Boyer.
Trying to combat climate change, the plan is for the buildings to use geothermal energy. The site does not fall within any Waterloo Region well fields, so it is permitted to have geothermal, where as a vast majority of sites in Waterloo are not permitted to have geothermal to not affect wells and water systems.
“We propose to utilize geothermal, a renewable energy source, with heat pumps in every unit for heating and cooling. Additionally, we plan to incorporate solar, e-car and e-bike sharing as well as other initiatives.”
On the table for discussion, was a pedestrian overpass for the highway next to the site that council thought is needed for Waterloo. MTO denied the request for the pedestrian overpass, but Boyer’s company gave MTO a 150 page report about the pedestrian overpass and why it makes sense for the city.
Boyer also committed to making a portion of the development affordable housing that he says will last longer then the 25-year guideline.
“Though the details are not worked out, it is an important component of our development, and I can promise you that the affordable, attainable housing will be of meaningful quantity,” said Boyer.
