Waterloo city council to get a first look at 13 tower housing development proposal for Albert Street
Posted Jan 30, 2024 02:09:53 PM.
Last Updated Feb 5, 2024 04:54:01 PM.
A massive new residential tower development proposal will go before Waterloo city council in February.
The design calls for 13 towers to be built on five hectares of land that were formerly the Clemmer Steelworks plant located at 446 Albert street.
The plant closed in 2019.
The towers would range in height from eight to 13-storeys, and support 2,833 residential and mixed use units. 97 of which would be designated affordable.
Parking would come in the form of raised parking structures, on top of which the residential towers would sit. The developer also included 1,748 spaces for bicycle parking.
The design calls for walking paths, common green spaces and a focus on connections to transit options.
Waterloo Council will get a first look at the proposed development on Feb. 6.
The developer has requested a number of bylaw changes. Those include; expanding the range of permitted uses and increasing the maximum density limit to 780 bedrooms per hectare.
A vote to approve the development would have to come after any bylaw amendments are made.
This proposal is one of several under council consideration.
The City of Waterloo continues to receive new construction plans despite a significant drop in new housing starts last year.
The Canada Mortgage and Housing Corporation said Waterloo saw only 635 new housing starts in 2023. The lowest number since 2013.