Early concepts show plans for Westmount Place development
Five towers will contribute to the Waterloo skyline, according to a conceptual masterplan. (Source: Killam REIT)
A Halifax-based real estate trust has released some early designs for a development planned at Westmount Place.
The conceptual masterplan was released by Killam REIT, a trust that primarily makes its money from residential units. Its plans for Westmount Place include commercial space as well.
“The proposed redevelopment for the site is a high-quality and contemporary mixed-use development that will provide new residential units and commercial space designed to complement existing uses on-site,” the masterplan reads in part.
That could be good news for existing businesses in the plaza.
The mixed-use development has been is planned on the corner of Westmount and Erb Streets in Waterloo.
A total of five towers are shown in the concept work: three along Erb, a fourth along Westmount and a fifth right on the corner.
The Westmount-side tower appears to be planned for what is currently parking for Sun Life Financial and Michaels, but the masterplan details different parking solutions including a multi-storey parking structure and underground parking.
The development is also proposing to add two new vehicular access points: one on Dietz Avenue and another on Erb Street West. The plaza’s current accesses would remain.
There’s no indication as to when the project will start or be completed by.
Killem REIT is also the company behind a downtown Kitchener development on the corner of Weber Street East and Scott Street.
That 173-unit project, called Weber Scott Pearl after the block it’s being built on, is scheduled to be finished in 2021.