TEK Tower (30 Francis) | 45 fl | U/C

[CP42]

All councillors voted in favour except for Gazzola and Chapman. 

My understanding is it now goes to council for final approval on the 21st.

[panamaniac]

I wonder what Gazzola's objection was? I'd have thought he'd be happy for the increased tax revenue.

[Lebronj23]

The owner of IN8 also said they have two properties on Charles between Francis and Queen that will be similar heights to TEK, so IN8 is not going anywhere anytime soon

[CP42]

The owner of IN8 also said they have two properties on Charles between Francis and Queen that will be similar heights to TEK, so IN8 is not going anywhere anytime soon

Do we have an idea of where these are based on recent sales?

[tomh009]

The owner of IN8 also said they have two properties on Charles between Francis and Queen that will be similar heights to TEK, so IN8 is not going anywhere anytime soon

Do we have an idea of where these are based on recent sales?

Checking the GIS ownership records, there is nothing obvious (and big enough for such a project). Manulife still owns their own properties, as do the city and region.

One possibility is that IN8 has acquired the pair of former Thalmic Labs/North properties from Google, given that Google has a whole lot of additional space coming available shortly. One possible indicator for this is that the TEK property is owned by "30 FRANCIS KITCHENER INCORPORATED" and the original Thalmic Labs building is owned by "26 CHARLES KITCHENER INCORPORATED". Exactly the same format of company name. Possibly coincidence, but maybe not.

[Joedelay Highhoe]

What about the former full-circle building, or the sports link building? The entire block across from the former bus station looks primed for development as well.

[tomh009]

What about the former full-circle building, or the sports link building? The entire block across from the former bus station looks primed for development as well.

They look like they all have individual owners, so unlikely to be an IN8 property big enough to build a tower.

[westwardloo]

The owner of IN8 also said they have two properties on Charles between Francis and Queen that will be similar heights to TEK, so IN8 is not going anywhere anytime soon

Well that is not exactly what I wanted to hear. I guess the thing with IN8 is they actually do something/ develop the land they own, which is a positive. The negative is they have yet to produce a build that doesn't burn your eyes when you look at it. I think TEK will determine the direction this developer is going. If it is another cheep clad like DTK and the podium is changed to a poorly designed precast there is no hope.

[Votemac]

One of the new Charles St developments needs to bring back Club Ren

[KevinL]

I wonder what Gazzola's objection was?  I'd have thought he'd be happy for the increased tax revenue.

If I understand the twitter chatter last night, he had a tangent in the discussion about 'developer profiteering' or some such. I guess he's trying to score points with voters who feel that's an issue.

[Lebronj23]

There is also an article on the record about the approval

https://www.therecord.com/news/waterloo-...on.html?rf

[Lens]

Do we have an idea of where these are based on recent sales?

Checking the GIS ownership records, there is nothing obvious (and big enough for such a project). Manulife still owns their own properties, as do the city and region.

One possibility is that IN8 has acquired the pair of former Thalmic Labs/North properties from Google, given that Google has a whole lot of additional space coming available shortly. One possible indicator for this is that the TEK property is owned by "30 FRANCIS KITCHENER INCORPORATED" and the original Thalmic Labs building is owned by "26 CHARLES KITCHENER INCORPORATED". Exactly the same format of company name. Possibly coincidence, but maybe not.

Good Catch! I'm putting money on that being one of the properties and I have a feeling they could own 2-3 of the parcels at the corner of Ontario Street with the East African Cafe and former Portuguese restaurant. Not really any other options other than the Full Circle lot which could be part of the reason they moved to King.

[taylortbb]

Not really any other options other than the Full Circle lot which could be part of the reason they moved to King.

Full Circle moved of their own initiative because they purchased their new location, whereas they were leasing the old one.

[CP42]

There is also an article on the record about the approval

https://www.therecord.com/news/waterloo-...on.html?rf

http://archive.today/Js6nZ

[Lebronj23]

Do we have an idea of where these are based on recent sales?

Checking the GIS ownership records, there is nothing obvious (and big enough for such a project). Manulife still owns their own properties, as do the city and region.

One possibility is that IN8 has acquired the pair of former Thalmic Labs/North properties from Google, given that Google has a whole lot of additional space coming available shortly. One possible indicator for this is that the TEK property is owned by "30 FRANCIS KITCHENER INCORPORATED" and the original Thalmic Labs building is owned by "26 CHARLES KITCHENER INCORPORATED". Exactly the same format of company name. Possibly coincidence, but maybe not.

You were correct! It’s 26 Charles and Charles and Queen ( not sure which corner) both will be around the TEK tower height, neither over 50 floors or 150 metres