City staff to back condos
Proposal goes to council June 1
Liz Monteiro
RECORD STAFF
WATERLOO
Residents who live near a proposed condo development in the core area say their concerns about traffic and increased density have been ignored by the developer.
But Randy Kinat, who is co-developing the property at 21 Allen St. W. with Mady Development Corporation of Markham, said "every study possible has been done to ensure our project meets all the requirements.
"When the project is completed, they will find there is no reason for any concern,'' Kinat said yesterday in an interview.
"The luxury we are doing will increase the property values of the uptown area,'' Kinat said.
Kinat said the $60-million luxury condo development will feature concierge services and private elevators in the brownstones.
The 19-storey condo development -- 144 Park -- at the corner of Park and Allen streets
comes before council for approval on June 1.
The condo tower will have 149 units as well as eight three-storey brick townhouses.
The development will feature 160 parking spaces, 71 of them underground and a three-storey above-ground garage.
Construction is expected to begin in May 2010, Kinat said.
The plan includes tearing down the existing 95-year-old building, Ontario Table and Chair Co., said city planner Trevor Hawkins.
The factory, built in 1913, was the original home of the Quality Mattress Co. The name changed to Waterloo Bedding Co. in 1921. The building is not designated as a heritage property, nor is it recognized for its cultural value.
Hawkins said the developer has not yet applied for a demolition permit.
City staff will be recommending the developer's proposal to council be approved, Hawkins said.
The plan includes a zone change for the property, which is about one-third of a hectare in area, from industrial to multi-residential and an increase in density.
The developer wants to increase the density to 465 units per hectare from 250 units per hectare.
Hawkins said in exchange for increasing the density,
the city will be asking the developer for additional streetscape improvements, including benches, landscaping and bicycle parking.
As well,
the city will be asking for improvements along the Iron Horse Trail which is near the development and a piece of public art at the value of one per cent of construction costs.
Tanem Developments, which is building a 175-unit condo development at King Street and University Avenue, gave the city $165,000 for the public square in exchange for approved higher densities.
Hawkins said the cost of the public art has not yet been finalized.
Bill Kauffeldt, who lives in the nearby Catalina townhouse development, said he's concerned about the increased traffic and the lack of sunshine because of the tower building.
Becky Shaw, who lives on Allen Street, said the face of the neighbourhood will change with a second condo tower.
The Bauer Lofts at Park and King streets are set to open in July.
"They haven't taken community input into consideration. It seems that community input doesn't matter,'' she said.
Shaw said she's also worried about the traffic volume and increased density.
lmonteiro@therecord.com
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