In this week's UTPro Instant Report, we pulled data exploring the bustling development scene within an 800m radius 200 Albert Street in Waterloo. This area is a hub for student housing, with a significant portion of the market catering to investor-owned condominiums rented out to students from the University of Waterloo and Wilfrid Laurier University. The proximity to educational institutions and the University of Waterloo station on the Ion LRT line, just a 15-minute walk away from 200 Albert Street, makes this location highly attractive for students and investors alike.

Map view of area surrounding 200 Albert Street, image from UTPro Instant Report

The area is currently experiencing an uptick in development, with 8 projects in pre-construction, 2 under construction, and 3 recently completed. These developments are set to bring an impressive total of 2,356 new dwelling units to the neighbourhood. The mix of residential types, including condominiums, market-rate rentals, and student dorms, alongside commercial retail spaces, reflects a comprehensive approach to urban development, aiming to meet the diverse needs of the community.

Summary of proposals for the area surrounding 200 Albert Street, image from UTPro Instant Report

One of the recently completed projects that stands out is ONE28 King St. N., developed by CTN Developments and designed by Hatem Nassif Architects and Icon Architects. Completed in 2022, this 15-storey condominium building offers 120 units of one-bedroom and two-bedroom suites. Its prime location, just minutes from major universities and the UW Technology Park, makes it a desirable option for students and young professionals alike.

Looking north to ONE28 King St N, image from Google Maps

Currently under construction, Society 145 is poised to be a significant addition to Waterloo's Northdale neighbourhood. From Society Developments and Rise Real Estate and designed by WZMH Architects, this mixed-use development features 23 and 20-storey towers, providing a total of 535 units of market-rate rental apartments and retail spaces. Located on the south side of Columbia Street West, the project is positioned between Phillip and Lester streets, it's only 2 blocks from UWaterloo.

Looking south to Society 145, image from Google Maps

Looking ahead, 143 Columbia Street West is an ambitious pre-construction project adjacent to Society 145 and is set to further transform the neighbourhood. Developed by Prica and designed by PG Design Studio, this mixed-use development comprises three 25-storey towers, offering a total of 591 units of market-rate rental apartments and commercial retail spaces. Its location on the south side of Columbia Street West, east of Phillip Street and west of Lester Street, places it right in the heart of one of Waterloo's most dynamic neighbourhoods.

An aerial view looking south to 143 Columbia Street West, designed by PG Design Studio for Prica

The report's statistics provide a deeper understanding of the development landscape in this area. With an average building height of 50.3m and a maximum of 83m, the developments range from mid to high-rise, contributing to the area's urban density. The total gross floor area (GFA) of 135,344m² indicates the substantial scale of development, with a diverse mix of residential and commercial spaces. It should be noted that the GFA percentages do not add up to 100% due to some projects not yet providing a breakdown.

GFA breakdown for the area surrounding 200 Albert Street, image from UTPro Instant Report

This area of Waterloo is undergoing a significant transformation, driven by the demand for student housing and the location near major educational institutions. With a variety of developments in the pipeline, ranging from luxurious condominiums to practical student accommodations, the region is not only expanding but also evolving to meet the unique needs of its residents.

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As UrbanToronto continues to refine its role in the GTA development industry, our data services have evolved to become one of our defining elements and we want to share those capabilities with our community. The UrbanToronto Pro Instant Reports is just one of the ways our data can be applied to provide quick and convenient insights on the development trends of any area in the GTA, with filters for Wards MLS Zones, and Custom Areas.