WATERLOO — Waterloo will spend about $2 million to purchase new parkland in Northdale.
“I’m very excited to tell you that we’ve been successful in buying land in Northdale,” said Scott Nevin, director of growth management.
Council voted on Monday to purchase four properties on Hickory Street, ranging in price from $436,000 to $599,500.
“There’s been a fantastic amount of work and progress over the first couple of years of the Northdale program … but the most exciting thing for me today is to be able to talk about the parkland acquisition,” said Ward Coun. Jeff Henry.
The land will be redeveloped as parkland, fulfilling one of the goals of the city’s Northdale land use and community improvement plan approved in June 2012 that envisions a revamp of the mostly student, single-residential neighbourhood into a mixed-use, higher density area.
The neighbourhood is bound by Columbia Street, King Street North, University Avenue West and Phillip Street.
Council heard Monday the efforts to revamp Northdale have received a lot of interest from developers.
Between June 1, 2015 and Sept. 30, 2016, staff say 14 building permits were issued for more than $74 million in projects. That includes 479 residential units and 11,500-square-feet of commercial space.
That’s a lot of people that need outdoor space.
“It’s so necessary in an area that’s intensifying because the outdoors are many people’s living rooms,” Henry said.
The properties are:
- 78 Hickory Street West
- 80 Hickory Street West
- 109 Hickory Street (to close in September 2017)
- 111 Hickory Street
The first three properties are homes and the fourth is an empty lot adjacent to 109 Hickory.
Design for the two new parks is expected to get underway in the next year.
Nevin said residents who want to get involved with the park project should check in with the city website for updates.
The parkland purchase is the second major investment for Northdale council has dealt with in recent months.
In October, council endorsed a $24-million plan to revamp the streetscape throughout the transitioning neighbourhood.
Upgrades will be done in phases following a plan established by staff that prioritized streets based on how much development is occurring and the need for infrastructure upgrades.
The city currently has about $24.3 million in its 2016-2025 budget and capital spending forecast for the master plan. About $3.5 million has been spent or committed for the streetscape plan for land purchases, consulting and other fees.