410 Queen Street West

• In Cambridge, the overall home price stood at $825,818 in November, an increase of 29.2 per cent, or more than $186,000, over November 2020. The detached average was $915,408, up more than 32 per cent, or more than $233,000 over the previous year.
  Waterloo Region Record
• The average price of a townhome in Cambridge is $631,400 – a 34.9 per cent jump from this time last year
  Cambridge Association of Realtors

• Canada’s housing supply is reported to be almost two million units below the healthy level, with Waterloo Region falling 20 per cent below the average supply per capita of the G7 nations
  Scotiabank
• Without creating more housing supply, these figures will continue to skyrocket, potentially pricing current residents and retirees out of the community
• Increasing the housing stock results in greater tax generation, job creation, economic development opportunities and the ability to address social and economic inequality

The proposal contemplates the development of vacant land in a location already identified by the city as an “intensification node.” Seeking to intensify in an area that is not culturally sensitive and away from any existing residential neighbourhoods, this development will help provide critical housing supply and support the revitalization of historic Hespeler Village.

• Property is 4.74 hectares, equivalent to 12 football fields
• Two million square feet of mixed-use space including residential and commercial opportunities

• Potential for approximately 2,000 new housing units
• Five mixed-use blocks with ten buildings, ranging in height from 12-30 storeys
• Serviced by public transit and municipal infrastructure; a short walk to a future LRT station
• Easy access to Highway 401; 15 minutes from Region of Waterloo International Airport
• $50+ million in development charges
• $10+ million in annual property tax revenue

• Provides range and mix of housing options for right-sizers, first-time homebuyers and prospective residents
• Provides a diversity of housing options for the Hespeler community
• Transforms a vacant brownfield site into a dynamic mixed-use community
• Lands have been identified as an intensification node and are located at the heart of the region (Cambridge, Kitchener, Waterloo, and Guelph)

• Relies on existing city infrastructure
• Supports vibrant, sustainable neighbourhoods by incorporating active streets and including both residential and commercial land uses
• Supports walking, cycling and active transportation
• Population influx will help to reinvigorate businesses in Hespeler Village
• Creates jobs so people can live, work and play in the city of Cambridge
• High-quality urban design and public realm