A Changing Hespeler Skyline

February 18, 2009 at 9:41 pm 1 comment

1847riverbank

Shawky Fahel, a local developer in Waterloo Region has bought the existing American Standard building in Hespeler and has grand plans for the redesign of the factory’s site. The first draft plan includes approximately 95 housing units and 7,000 square feet of retail space fronting Queen Street. Fahel is also thinking that part of the building might become “transitional housing” for seniors who want to leave their homes, but aren’t ready to move into a nursing home.

With its location on Speed River, the building will be turned into 34 apartment units with studios and storage units on the ground floor. A second large stone building at the east end of the property will be remodeled to incorporate 33 apartment units. Adjacent to it and running along the south side of the property, will be another two-storey stone building with 12 townhouse units. A fourth large building facing Queen Street will be saved and re-used with 16 residential condominium units at the rear of the building and retail/commercial space on Queen Street.

The project is now dubbed 1847 Riverbank, and “keeps the four best-crafted buildings in this industrial campus”, while demolishing the centre of the existing structure to create a two-storey, 141 space parking structure with rooftop terrace.

We want condominiums and mixed use. The building lends itself very well to that,” Fahel said. It’s amazing to finally here those words come out of a developers mouth in the Region.

The site currently is contaminated but has been described as being “manageable” and GSP Group will be working with the ministry over the next six to eight months to complete the required record of site condition.

Construction is slated to start at the beginning of 2010 and Fahel said the apartments will be competitively priced.

Finally Hespeler you have something to be proud of other than your hockey.

Source: CambridgeTimes.ca

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Entry filed under: Cambridge. Tags: , , , , , , , .

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1 Comment Add your own

  • 1. Leslie Shaw  |  September 23, 2009 at 7:22 pm

    Is there any way to check out floor plans, pricing etc?

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