Toronto's rise as a high tech startup hub is connected to that of the similar focus on high tech in the Region of Waterloo to the west of the city. Wilfrid Laurier University, the University of Waterloo, and the UW Technology Park are fuelling housing demand in the cities of Kitchener, Waterloo, and Cambridge, spurring a mini development boom there. In Waterloo, CTN Developments is responding to this growing demand with a new 15-storey condominium development on King Street North, steps from Wilfrid Laurier University.
Designed by Hatem Nassif Architects, ONE28 King St. N. will occupy the northeast corner of King and Elgin streets, rising to a height of 48.5 metres, or 159 feet. Inside, the building will house 120 one and two-bedroom condominium units, ranging in size from 536 ft² to 959 ft², as well as two commercial condominium units with an exterior patio.
Upon expected occupancy in 2020, residents will enjoy a selection of indoor and outdoor amenities, including a wood and marble panelled lobby with concierge desk, a party room, a study room, a gymnasium, a yoga studio, an accessible green roof, and a rooftop terrace with grilling areas. Parking will also be included, both in an underground parking garage and on levels 2 and 3 of the podium. This will include two electric vehicle charging stations, and designated parking for car share services.
Like other condo developments being marketed in university towns, ONE28 King St. N. is targeting the investor market as well as end users, with students an ever under-served market looking for accommodation. Proximity to educational institutions isn't the only factor driving interest, however; with competitive pricing over other municipalities in the region, an estimated increase in local population to 729,000 by 2031, and a growing number of tech jobs—over 8,000 added between 2011 and 2016—all factors.
Additional information and images can be found in our database file for the project, linked below. Want to get involved in the discussion? Check out the associated Forum threads, or leave a comment in the field provided at the bottom of this page.
|Related Companies:||CTN Developments, Foxx Advertising & Design Inc., Hatem Nassif Architects, In2ition Realty|