Waterloo Corporate Campus

[rangersfan]

Former NCR land plans come forward to council

June 19, 2013 | James Jackson | Waterloo Chronicle | LINK

The enormous mixed-use development that would remake the former NCR lands near the north end of Waterloo was unveiled Monday night at an informal public meeting at city council.

The property, which will be called Waterloo Corporate Campus, is located on about 16 hectares (39 acres) of land at 580 and 590 Weber St. N., at the intersection of Northfield Drive.

The $160-million development is the vision of Intermarket Developments and Triovest Realty Advisors.

“We think it’s one of the best sites in the entire area,” said Mark Kindrachuk, president of Intermarket.

The property is located inside one of the city’s so-called “prestige office” designated areas, meaning it will be used as a transition from industrial properties to more sensitive developments.

The site is also close to a proposed light rail transit stop and has easy access to the Conestoga Parkway and the north end of the city.

The developer has a three-phase plan for the site. The first phase is already under construction and is near the middle of the property. It fronts onto Northfield Drive and is described by Kindrachuk as a “cool, loft-like setting” with 18-foot ceilings and lots of amenity space for tech companies and startups. A data centre would also be built behind the building. Phase 1 is expected to be complete later this year.

Phase 2, located near the intersection of Northfield Drive and Weber Street, would be dedicated to retail and restaurant space, including a food store and drug store, and would have a gateway entrance onto the intersection. The land must be rezoned to permit construction to start.

Phase 3, near the railroad tracks at the west end of the property, would be corporate offices and potentially a hotel. Phase 3 isn’t expected to get off the ground until the LRT is operational in 2017.

Several studies, including retail impact study, traffic study, site servicing and a noise study, are all under review. Early results suggest the catchment area of the retail study will not impact the St. Jacobs market, and dedicated turning lanes may be required on Northfield.

The market forecast study predicts the area can support up to 200,000 square feet of retail and commercial space alone, including a 50,000-square-foot food store and a 20,000-square-foot drug store. Once complete, the development will be nearly 800,000 square feet.

The site will be cyclist- and pedestrian-friendly with indoor bike storage available and pedestrian pathways throughout the site connecting Weber Street, Northfield Drive and a central green space near the middle of the property. The site will include thousands of parking spots.

Coun. Jeff Henry appreciated the effort taken by the developer to reduce the impact on pedestrians.
“As someone who has walked across open parking lots and tried to avoid cars trying to get where they were going, I listened with great interest to the pedestrian corridors.”

The parking on the site could be scaled back once LRT was operational, and Kindrachuk said a skywalk or bridge could connect Phase 3 with the LRT station.
Since this was an informal public meeting, no decisions were made by council.

Waterloo approves two large building projects

October 8, 2013 | Paige Desmond | The Record | LINK

WATERLOO — Two expansive projects are coming to Waterloo after approval from city councillors Monday.

The $160-million Waterloo Corporate Campus project will bring loft office and multi-use space to 580 and 590 Weber St. N. at Northfield Drive.

Pinehaven Nursing Residence will be transformed into a facility with independent living, assisted living and long-term care accommodations.

At Waterloo Corporate Campus, Intermarket Developments and Triovest Realty Advisors plan a three-stage project that upon completion will equal more than 800,000 square feet of space on about 40 acres.

"To have a major out-of-town developer and a large investment fund show confidence in our city is welcome indeed," Coun. Mark Whaley said.

A long, one-storey building will feature loft offices with 18-foot ceilings, flexible spaces and lots of light. A data centre will be built behind the building.

The second proposed stage, mostly retail and restaurants, will be complete in 2015.

Approved by councillors was a zone change to allow several items in the retail phase, including less parking than normal, and to provide amenities such as a food store and drugstore.

"We've been told time and time again to get employment you have to have restaurants and retail people can walk to," said Intermarket Developments President Mark Kindrachuk.

He said upward of 3,000 people could work at the site.

The final phase will be corporate offices and a hotel. It's expected to be complete about the same time as the region's light rail transit project in 2017.

Work at the 16-hectare site got underway earlier this year and has been lauded by some politicians as an excellent reuse for the former home of NCR Corp. The company made automated banking machines on-site until about 2007.