Update II: RED Condos in Waterloo are over half sold out already
RED Condominiums by Momentum Bring More Style to Uptown Waterloo
The Red Condominiums will be 63 units with ground level retail, and slightly larger than the42 that Momentum is building right now on Bridgeport Road.
Plans call for 11 studio units, 17 1 bedroom units, 18 1 bedroom +den, 13 two bedroom units and 4 two bed + den units.
The designs released online by Momentum Developments are HOT.
The Record is reporting that the city still needs to approve a rezoning request, but its looking good.
Momentum Developments, a Waterloo-based company that does infill developments in the city core, will ask city councillors soon to rezone the land to allow for the mixed-use building that will have six floors and an underground-parking garage.
If the rezoning is obtained next month, marketing and pre-sales could begin in the spring and the Red Condominium will become the third to go up in that section of the historic Mary-Allen Neighbourhood.
This would also be Momentum Developments’ third project in downtown Waterloo, following the 55-unit condominium at 42 Bridgeport Road, and the BPR Lofts at 36 Regina St. North.
Momentum Development’s rezoning application may have little difficulty getting support among city councillors. The development is in line with the Region of Waterloo’s official plan and growth- management strategy.
update: The Builder has gone to the city for an Official Plan & zoning amendment:
Official Plan Amendment: The properties are currently designated “ Commercial – Office Commercial“ on Schedule “A1“ and “Medium density, 6 Storeys“ on Height and Density Schedule “A2“ of the City’s Official Plan. Up to a maximum density of 150 units per hectaare is currently permitted. The applicant is requesting an Official Plan amendment to applyy a Special Policy Area to the properties to allow a density of up to 311 units per heatacre, and 395 bedrooms per hectare.
Request: The applicant is requesting a Zoning By-Law amendment to add a site-specific provision to allow an increase in the permitted density from 150 units/ha to 311 units/ha, an increase in the permitted height from 18m to 22m, a reduction to setbacks and amenity area requirements, and the addition of retail, restaurant, bake shop and clinic as a permitted uses at grade. The lands would retain the existing Commercial Two – 6 Storeys “C2 -6” zoning in By-law 1108.
Purpose: The purpose of the amendments is to facilitate the development of a 6 storey, mixed use building containing approximately 16,000 sq.ft of commercial space at grade fronting toward King Street South, 63 residential units on the storeys above grade (range of 1, 2 and 3 bedroom units), and 67 parking spaces (of which 45 are proposed underground). Dodd’s Lane is proposed to be extended through to Allen Street East, to complete the connection from John Street. Vehicular access to the site is proposed from both Allen Street East and Dodd’s Lane.
I love the design, and welcome it as an addition to Waterloo’s core. We need more developments like this.
What do you think?
Keller Williams is not acting for the vendor; this building is building sold directly by the vendor.