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345 King St W
#1
Perimeter Development has won the bidding for the parking lot currently at 345 King St W according to the city report. As a part of being the winning bid Perimeter is required to obtain a building permit within 12 months, so we should see activity pretty soon. Perimeter also owns the neighbouring property at 319-331 King St W (Rana, Golden Turtle, etc) so I assume it will be included in their redevelopment plans. (Perimeter also owns 305 King and 22 Water, so every property other than the TD on the block)

The sale of parking lot previously discussed on WRC at http://www.waterlooregionconnected.com/s...8#pid28708 , but I thought given we'll see development soon it was worth a new thread.
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#2
I have liked all of Perimeter's work Downtown so far, looking forward to see what they propose for this location.
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#3
This might be a good spot for a new office building, actually.
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#4
This is fantastic news. I'm really excited to see what they come up with. Office seems like their mandate more than residential no?

Also, this is just the King fronting lot right, not the Charles side lot?
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#5
Yes ^
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#6
I take it TD owns the parking immediately adjacent to them?

Edit: answered my own question, the signage at Hall's Lane (checked on StreetView) makeds it clear that they do.
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#7
Promising spot for the often-discussed urban supermarket at ground level, istm.
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#8
(03-18-2017, 09:55 AM)KevinL Wrote: I take it TD owns the parking immediately adjacent to them?

Edit: answered my own question, the signage at Hall's Lane (checked on StreetView) makeds it clear that they do.

Hmm...it would be really ideal if the development could form an agreement with TD to use that lot as well, in return for underground parking.
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#9
TD already has an underground ramp from Water. I'm suspicious that underneath the surface parking is part of their underground garage. Would complicate any redevelopment on top of it.
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#10
CTV article on the potential sale of 345 King St W, the decision will go to City Council Monday night.
$2.35 million for 0.14 hectares
For comparison:
Momentum Developments in August 2012 paid
$3 million for 0.25 hectares for the lot that is now 1 Victoria.

http://kitchener.ctvnews.ca/mobile/2-35-...-1.3329423
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#11
(03-18-2017, 11:04 AM)panamaniac Wrote: Promising spot for the often-discussed urban supermarket at ground level, istm.

Given that the big players don't see the business case with the current downtown population, and J&P is about to open, this is probably not highly likely, as nice as it might be.
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#12
A story on the Record site indicates it will be a six-storey office and retail building.

Features that the city liked from the proposal included pedestrian-friendly use of the laneway, and public use of the parking garage after business hours.
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#13
(03-20-2017, 06:48 PM)KevinL Wrote: A story on the Record site indicates it will be a six-storey office and retail building.

Features that the city liked from the proposal included pedestrian-friendly use of the laneway, and public use of the parking garage after business hours.

Missed opportunities,    I am always reminded of how small town our local developers are,  boring yawn... sad..
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#14
Here's the link to that story: http://www.therecord.com/news-story/7200...-building/
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#15
(03-20-2017, 07:20 PM)Rainrider22 Wrote:
(03-20-2017, 06:48 PM)KevinL Wrote: A story on the Record site indicates it will be a six-storey office and retail building.

Features that the city liked from the proposal included pedestrian-friendly use of the laneway, and public use of the parking garage after business hours.

Missed opportunities,    I am always reminded of how small town our local developers are,  boring yawn... sad..

What are the market-justified opportunities that the developer is missing?  The scale and proposed uses seem appropriate to me for that location, although I have trouble reconciling that with what they apparently paid for the site.
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