New Waterloo community to include housing, grocery store, gardens

Over the next 10 years, a major transformation is set to get underway in a Waterloo neighbourhood near RIM Park.

The City of Waterloo has approved the $33.5 million sale of the Former Kraus lands at University Avenue East near Woolwich Street.

The buyer, Urband Legend Developments, plans to put in a whole new neighbourhood, with 1,800 new homes, a grocery store, retail promenade, community gardens and connections to the Walter Bean Trail.

When it comes to housing, a portion of the new units will be affordable.

“This is an incredible opportunity to help realize the city’s long-term planning goals, bringing much-needed housing, delivering inclusive community spaces, and setting a new standard for sustainable neighbourhood design in Waterloo,” Paul Leveck, President of Urban Legend Developments, said.

“Affordability is central to the redevelopment, with 100 permanently affordable homes, 30 rental and 70 ownership units offered in a mix of one and two-bedroom layouts. A built-in legal framework will ensure these homes remain affordable in perpetuity.”

The portion of land is about 33 acres near the fire station at 911 University Ave. E. It was taken over by the city back in June 2020, to transform the site into a community space, with a minimum of 25 per cent of the space dedicated to parks, open space and trails.

“Sustainability is embedded throughout, with features such as green roofs, solar panels, permeable pavement, rooftop water storage, LED lighting, and over 2,000 new trees. The neighbourhood will also include EV charging stations, naturalized stormwater systems, and green building elements like oversized windows and natural ventilation,” reads a news release from the city.

The city expects nearly 5,000 people will be able to live in the new community.

“This is another exciting opportunity for Waterloo to make city-owned lands available to achieve our housing objectives,” said City of Waterloo Mayor Dorothy McCabe. “This mixed-income, mixed-use development will support everyone, from first-time buyers to growing families and seniors. With plenty of greenspace, new amenities and links to existing trails and transit systems, this will be another vibrant, thriving complete community for Waterloo.”

Now that the vision and buyer for the land has been approved, the next stage is the detailed design phase, to prepare for construction.