(image of proposed Centre Block development from City of Kitchener)
The Kitchener Waterloo Record is reporting that the long awaited Centre Block development in downtown Kitchener is moving forward:
A Brampton-based developer says he will sign an agreement next month with the City of Kitchener for a project that will add 385 condos to the core.
Peter Smith, president of Andrin Homes, said an agreement should be in place by mid-January for the redevelopment of the city-owned half of Centre Block, which is bounded by King, Young, Duke and Ontario streets.
The City of Kitchener has a lot of information about this development on their website, including these details about the proposed development:
Andrin envisions a dynamic, inspiring, sustainable and engaging redevelopmentconcept for the Centre Block, consisting of a mixed-use complex, combining:
- A total of up to 401 residential units, offering a range of residential suite types, including lofts, affordable condominiums, larger family oriented dwellings, live/work units and penthouses.
- Vibrant new retail spaces along King Street.
- A multi-level underground parking structure for up to 714 spaces, with public parking and parking for the retail users at the first level and secure residential parking on the lower level(s).
- A boutique hotel and spa in the restored and renovated heritage structures at the corner of Duke and Young Streets.
- A public/private courtyard with linkages from Duke Street, Young Street and the underground public parking structure. A linkage from King Street to the courtyard will be provided through a public galleria.
- A design that will strive for architectural excellence and be:
- Compatible with the existing physical, heritage and social context of the site, including restoration and redevelopment of the existing heritage structures into a boutique hotel and spa;
- Responsive to angular planes to minimize shadow impacts;
- Address positively the existing City Hall to the west;
- Enhance the main street qualities of the three street frontages;
- Provide opportunities for outdoor animated uses such as cafés on King Street West; and
- Overall safety and security within the site will be an important element of design considerations
The land was sold to Andrin by the City of Kitchener earlier this year for $3.1 million, after spending $13 million & 9 years to acquire the land.
What do you think about this development? Personally, I’m glad to see more well planned developments coming to the downtown Kitchener core.
Related posts:
- Kitchener Waterloo Real Estate Market Update: October 2009 Busy busy month! The summer and fall of 2009 has...
- High Volume and Sales Prices seen in Kitchener Waterloo Some interesting reports about the national real estate market in...
- 2009 Kitchener Waterloo Investment Real Estate Market Update 2009 was an interesting year to be buying, selling, and...
- Kitchener Waterloo profiled in Canadian Real Estate mag’s “Areas Set To Boom” The recent issue of Canadian Real Estate magazine has a...
- Market Update: Real Estate selling fast in Kitchener Waterloo “I can’t believe this sold in 2 days – the...
- Cash Flow Analysis of an Investment Property in Waterloo I was just talking to a real estate investor, and...
- $1 Billion dollars: Kitchener Waterloo’s Mid Year Market Update Benjamin Bach with Keller Williams discusses what's going on with...
