Waterloo Region Connected
Sun Life sells Westmount Place for $77.8 million - Printable Version

+- Waterloo Region Connected (https://www.waterlooregionconnected.com)
+-- Forum: Land Development and Real Estate (https://www.waterlooregionconnected.com/forumdisplay.php?fid=4)
+--- Forum: Suburbs (https://www.waterlooregionconnected.com/forumdisplay.php?fid=7)
+--- Thread: Sun Life sells Westmount Place for $77.8 million (/showthread.php?tid=1161)

Pages: 1 2


Sun Life sells Westmount Place for $77.8 million - Bob_McBob - 04-03-2018

https://www.therecord.com/news-story/8371493-sun-life-sells-westmount-place-for-77-8-million/

This seems like a pretty significant development. They are talking about putting in 600 units of apartments on the property. Sun Life will maintain their lease on the old mall/office space until at least 2026, so it remains to be seen what happens with that.


RE: Sun Life sells Westmount Place for $77.8 million - KevinL - 04-03-2018

Quote:Most important for Killam, the site has 88,000 square feet of land on the Erb Street side of the property that could be developed with buildings containing up to 600 new apartments.

There we go. The entire hillside from Erb is screaming to be developed - parking can go below grade, residential above. Huge potential here.


RE: Sun Life sells Westmount Place for $77.8 million - notmyfriends - 04-03-2018

Finally. Demolish the eyesores on Erb tonight!


RE: Sun Life sells Westmount Place for $77.8 million - rickhd - 04-04-2018

http://bentallkennedy.com/pdf/retail/Westmount_Place.pdf

Information on property.


RE: Sun Life sells Westmount Place for $77.8 million - myfaceisonfire - 04-04-2018

(04-04-2018, 09:40 AM)rickhd Wrote: http://bentallkennedy.com/pdf/retail/Westmount_Place.pdf

Information on property.

I can only imagine the nightmare that will be parking once T&T opens....


RE: Sun Life sells Westmount Place for $77.8 million - nms - 04-06-2018

For comparisons sake, what does 600 units of apartments look like. I also assume that 600 single-bedroom apartments would be different in volume to 600 multi-bedroom apartments.


RE: Sun Life sells Westmount Place for $77.8 million - tomh009 - 04-06-2018

Realistically 600 apartments means at least three towers, given (even recent) K-W tower heights.

The article does say "up to" so larger apartments might reduce the number of apartments.


RE: Sun Life sells Westmount Place for $77.8 million - taylortbb - 04-06-2018

(04-06-2018, 12:40 PM)nms Wrote: For comparisons sake, what does 600 units of apartments look like.  I also assume that 600 single-bedroom apartments would be different in volume to 600 multi-bedroom apartments.

Charlie West is 300 units, and at 31 floors one of the taller buildings planned for KW. 200 units seems to be a more typical size around here. That size includes a mix of one/two bedroom units, some with dens.


RE: Sun Life sells Westmount Place for $77.8 million - PassTheBruce - 04-13-2018

Funny how they’ve labelled Erb Street incorrectly in the PDF


RE: Sun Life sells Westmount Place for $77.8 million - ijmorlan - 04-14-2018

(04-13-2018, 09:39 PM)PassTheBruce Wrote: Funny how they’ve labelled Erb Street incorrectly in the PDF

I’m also interested to note that the red border doesn’t reach all the way to Erb. Did somebody just draw a line around the parking lot, or is the property along Erb actually owned by somebody else?


RE: Sun Life sells Westmount Place for $77.8 million - Markster - 05-29-2018

(04-03-2018, 10:24 PM)KevinL Wrote: There we go. The entire hillside from Erb is screaming to be developed - parking can go below grade, residential above. Huge potential here.

This is my dream. Street level retail at Erb/Westmount, hovering over a multi-level parking garage. We can get urbanism, and the City can get their parking demands too, without the added expense of digging out an underground garage.


RE: Sun Life sells Westmount Place for $77.8 million - danbrotherston - 05-29-2018

(05-29-2018, 09:21 AM)Markster Wrote:
(04-03-2018, 10:24 PM)KevinL Wrote: There we go. The entire hillside from Erb is screaming to be developed - parking can go below grade, residential above. Huge potential here.

This is my dream.  Street level retail at Erb/Westmount, hovering over a multi-level parking garage. We can get urbanism, and the City can get their parking demands too, without the added expense of digging out an underground garage.

Replacing a suburban mall with an urban streetscape really is the dream!

Of course, what is really needed here in concert with this project is great bike infra on Erb and Westmount going uptown, as well as transit, and then cut the parking minimums.


RE: Sun Life sells Westmount Place for $77.8 million - Markster - 05-29-2018

I was really pissed off when Westmount Grand went up across Erb St, and put in an 8 foot retaining wall as their corner presence.


RE: Sun Life sells Westmount Place for $77.8 million - ijmorlan - 05-29-2018

(05-29-2018, 09:21 AM)Markster Wrote:
(04-03-2018, 10:24 PM)KevinL Wrote: There we go. The entire hillside from Erb is screaming to be developed - parking can go below grade, residential above. Huge potential here.

This is my dream.  Street level retail at Erb/Westmount, hovering over a multi-level parking garage. We can get urbanism, and the City can get their parking demands too, without the added expense of digging out an underground garage.

You could have entrances on levels 1 and 5 of the parking garage! Or a 10-story building with only a 5-story impact on the skyline from the south and west. Sadly we’ll probably get something much less interesting. Still, there is hope. It’s a lot of space.


RE: Sun Life sells Westmount Place for $77.8 million - CP42 - 11-30-2021

Not sure if this development was discussed elsewhere but bringing an update here. 

Initial documents submitted in 2020 indicated 6 towers by Killam Apartment REIT at 11, 11, 16, 18, 18, and 25 storeys. They indicated the two 11 storey towers being in the first phase. 

https://www.waterloo.ca/en/government/resources/Documents/Zone-Change-Applications/50-Westmount-Rd-N-/Westmount-place-master-plan-design-brief.pdf
https://www.waterloo.ca/en/government/resources/Documents/Zone-Change-Applications/50-Westmount-Rd-N-/50-Westmount-Rd-N-9-15-Dietz-Ave-N-192-218-Erb-St-W-aerial-3d-views.pdf

However, this project was paused due to COVID in fall of 2020 (https://outline.com/qGJyPC).
This article notes that Waterloo council allowed early demolition of nine homes left vacant on Erb Street West, and an apartment building left vacant on Dietz Avenue, and that the developer had two years to build on Dietz and Erb to meet its obligation to replace demolished units. It faces penalties of up to $20,000 per demolished unit if it does not meet that deadline (2022). City rules permit the developer to build up to 12 storeys on the part of the site at Dietz Avenue and Erb Street West given current zoning. 

Killam's website for this project, dubbed "Westmount Centre" (https://killamreit.com/new-development/waterloo/westmount-centre) shows a new building rendering on Erb and Dietz that appears to be 12 storeys and looks different from the initial 11 storey renderings on the corner. It states "Phase 1 Opening in 2024", which leads me to believe they will begin building on this corner in 2022 to avoid the penalties. 

[Image: westmountfin.jpg?itok=cngdyF6Q]