General Urban Waterloo Updates and Rumours

[Markster]

That retaining wall makes me think you're right.

That was my thinking.

I did some looking into things, back when it burned down, and apparently if the site is redeveloped within a couple years of the fire, then it can still qualify for a grandfathered parking requirement. Namely, that any square footage existing prior to ~1970 is exempt from parking reqs. If the lot is not redeveloped within that time, it will revert to modern standards (i.e. Where the HSBC was required to have ~10 spots.
I can't recall the exact length of time, but it was a low number of years.