On behalf of the Zehr Group (the “Vendor”), Colliers International (the “Advisor”) is pleased to offer for sale 607-641 King Street West in Kitchener, ON (the “Property” or “Site”), a major high rise mixed-use development opportunity with the potential develop approximately 1.32 million square feet of mixed use density on 5.7 acres (2.3 hectares) of land in downtown Kitchener, Ontario, Canada. Contextually, the Site is located across from the planned Multi-Modal Hub which is an integrated transportation system connecting the GO Train to Toronto, the Light Rail Transit Station (the “ION LRT”) and Grand River Transit bus terminal as a Regional Node in Downtown Kitchener. It is anticipated that this Regional Node will become the location where the greatest investment for re-development for businesses, residences and commercial activity will take place throughout the built-up urban area.
The Vendor currently has plans to propose a Master-Planned High Density Mixed Use development. To implement this vision, an Official Plan Amendment application and Zoning By-law Amendment application are necessary. The Site is designated “Downtown City Centre Design District” in the City of Kitchener Official Plan and zoned High Intensity Mixed Use Corridor (MU-3) which permits a variety of land uses including office use, residential, and various commercial land uses. The Vendor’s Master Plan proposes a mix of 4 residential towers from 14 to 30 storeys, a 10-storey office/retail building that includes a grocery store, structured (podium) and underground parking, and outdoor amenity spaces including a central park and private roof top amenity spaces. The Planning Applications would permit up to 1,316,056 SF of above-grade building floor area.
Purchasers will have the option of taking over the Vendor’s Master Plan or implementing their own vision.