Waterloo plans new industrial park
It’s the last big, open space in the city for employment lands
WATERLOO — Waterloo will soon start selling land in its vacant industrial park, but it has reduced the jobs it expects to put there.
The business park is now forecast to attract 8,000 jobs when built out, down from 12,000 first envisioned. The remote west-end location, a changing real estate market, and lack of transit service suggest it will not attract large offices that bring lots of employees.
“We’re still very, very happy with that number,” said Justin McFadden, economic development director for the City of Waterloo. “Certainly from a cost-recovery perspective, we feel very comfortable we’re in a good place.”
Waterloo council expects to spend $24 million to acquire, service and launch the cityowned industrial park. It occupies 45 vacant hectares north of the regional landfill at the city’s west border at Wilmot Line and is the last big, open space for employment lands in the city.
The provision of water and sewer is nearing completion. One road is built. Another road will soon be completed.
“We will formally be making land available for sale this year,” McFadden said. “We don’t have any purchase agreements signed.”
City hall hopes to draw advanced and light manufacturing. It will promote the site for laboratories, research and development, assembly and storage.
Examples cited in a market analysis include robotics, drone technology, autonomous vehicles, the internet of things and nanotechnology.
Mayor Dave Jaworsky expects jobs at the site to inject more than $500 million in salaries into the economy.
“The strategic investment in these lands has been done thoughtfully,” he said. “We will see these vacant lands become a significant contributor to the overall health and vitality of our city.”
The site is not expected to draw large offices because it is too far from transit and “technology firms desire locations that are walkable and close to amenities such as cafés, restaurants and fitness facilities,” the market analysis found.
Central areas of Waterloo near campuses and Ion rail transit have a glut of bettersuited space for office employees. Provincial planning rules discourage large office construction at the west-end site because it is remote, McFadden said.
City council recently endorsed design guidelines for open spaces and buildings in the industrial park. In selling land, council called for more emphasis on sustainable building design to help fight climate change.
“This is a key priority of our time,” Coun. Jeff Henry said. “Green employment is good employment and that’s what we need to be looking for.”
City hall may give the business park a name this year to help brand it, replacing ‘westside employment lands.’
McFadden expects the city will eventually sell a dozen or more lots. Although the job forecast has been trimmed, he expects construction to accelerate, filling the site within this decade rather than by the 2030s.