The 33-storey condo tower will be located by the LRT’s Frederick stop and contain 410 residential units
Once constructed, a new condominium development planned for downtown Kitchener is set to stand as the tallest building in the city.
IN8 Developments, a Kitchener-Waterloo-based developer, is expected to build the more than $100-million, 33-storey condo tower at the corner of Duke and Frederick streets, where Trinity United Church and the former restaurant Exclamation sits.
The site is already zoned to accommodate the project and there are no formal public planning meetings required. The developer and city staff are now working through the final details of the site plan approval process.
“They’re working on what’s called an approval in principle, which means we are OK with the layout, and then they have to work through a number of details in order to get full site plan approvals,” said Janine Oosterveld, manager of site development with the City of Kitchener.
Details could include style, landscaping, site servicing, and technical engineering components.
The IN8 project, called the Duke Tower Kitchener, will be located by the LRT’s Frederick stop and contain 410 residential units and 8,000 square feet of retail space. The price of the units will start in the $250,000 range and are expected hit the market in May, said Philip Kuperhause, vice president of sales at IN8.
“We see a lot of promise in downtown Kitchener,” he said. “We see the economy going so well, the tech hub growing, and there’s a real demand for housing — urban condo housing in the downtown.”
IN8 is responsible for a number of apartment and condo developments in Waterloo targeted toward students. Unlike those, the downtown Kitchener project is being marketed to urban professionals.
“Definitely a young professional living and working in downtown Kitchener, a young professional couple … and maybe potentially a downsizer,” said Darryl Firsten, president of IN8.
And while parking will be included in the project, its location is meant to encourage walking and transit.
Amenities include communal garden plots, a rooftop patio with barbecues, a pet play pad, a fitness and yoga centre, and a smartphone package that allows for a unit’s lights, thermostat and more, to be connected to the owner’s smartphone.
“This is what we’re looking for,” said Brian Bennett, business development manager with the city.
“More people having ownership downtown, living downtown, using the amenities downtown, which we believe will create more retail opportunities as well as on the hospitality side.”
Construction is expected to start in November and the completion date is summer 2021.