The City of Waterloo’s economic development division invites expressions of interest for the purchase and redevelopment of the lands informally known as the Former Kraus Lands.
The Former Kraus Lands are located on University Avenue East adjacent to Fire Station 4 at 911 University Avenue East. The property is about 13.29 ha (33 acres) in size and is designated low density residential in the city’s official plan.
The lands were acquired a number of years ago as part of a larger acquisition for the construction of RIM Park. The sale of the lands provides an opportunity to create additional residential and commercial development on the east side of the city.
The City of Waterloo strongly encourages creative proposals with potential to benefit the community. Specifically, proposals should:
• Make the best use of the site in terms of diversity of use and intensification;
• Advance the goals and objectives within the city’s 2019-2022 strategic plan; and
• Contribute to the creation of a mixed-use area that seamlessly integrates with the surrounding community.
It is expected the development will include the following elements:
• a mix of residential uses and densities
• a future/minor node including a food store up to a maximum of 4,645 square metres and a mix of residential unit types
• a significant component dedicated to affordable housing as defined by the city’s official plan and must include a variety of tenure including rental and ownership
• designed with a sustainability lens in terms of sustainable building features
• multi-modal transportation options that are thoughtfully integrated throughout the development, linking to existing trails, as well as to the future/minor node
• amenities that cater to all ages with particular attention to universal design for an aging population, with special consideration of type and size for higher density residential areas
For more information, including the expression of interest package and online form, please visit waterloo.ca. Interested parties are encouraged to submit their expression of interest before September 24, 2020.