Massive 39-storey tower development proposed in Waterloo
Posted Jul 28, 2025 07:08:12 AM.
Last Updated Jul 28, 2025 12:32:15 PM.
The skyline in Uptown Waterloo could look a lot different in the near future, as a developer has proposed a massive 39-storey tower.
Momentum Developments has proposed a mixed-use development at 9, 33 and 47 Erb St. W., which is the site of a parking lot right next to the Waterloo Town Square Mall.
The current plans include the 39-storey tower, with a seven-storey podium, 412 housing units, 216 vehicle parking spots and 933 square metres of amenity space on top of the podium.
The breakdown of the types of units includes studio units (7 per cent), one-bedroom apartments (60 per cent), two-bedroom (23 per cent) and three-bedroom (10 per cent).
Currently, the bylaw only allows for buildings to be 30 storeys tall. In order for the project to go through, it would require several changes to the bylaw and the official plan, including changing the maximum height and density of the site, allowing a driveway on the adjacent lot and creating a Specific Provision Area policy to allow for construction on the Laure/Clair flood fringe.
The move comes after the city completed a transfer of land near University Avenue East, which will see the largest affordable housing development in Canada.
There are currently no plans for affordable housing with this project, but the developer has pledged to give $1.7 million to the city’s affordable housing fund.
This is not the first time that council has been asked to amend the bylaw for building height. In June, councillors heard from developers who wanted to build five high-rises between 37 and 41 storeys on Columbia Street near Phillip Street.
The city is currently reviewing the application, and an informal public meeting is scheduled for September 22.
Detailed documents on the project can be viewed on the Engage WR website.
