Triovest Realty Advisors and Intermarket Developments has announced construction of the Waterloo Corporate Campus is about to begin.

What is now the former NCR site at Northfield Road and Weber Street in north Waterloo, Ont., will be cleared for the 16-hectare (40 acre) project of mixed-use development, including loft-like office space, medical offices, restaurants, corporate office buildings, a co-location data centre facility and retail space. The first phase of the project involves construction of two loft office buildings, which are scheduled to open this fall.

“This is an extremely exciting project for our community and shows tremendous confidence in our city with substantial new investment,” says City of Waterloo Mayor, Brenda Halloran.

“The Waterloo Corporate Campus joins a long list of projects and properties representing Triovest’s growing profile in Canada,” says Triovest’s vice-president of developments, Alan Dillabough. “We’re excited by the opportunity of transforming existing properties and giving them new life so they can achieve full potential as valued spaces.”

A number of local companies are involved in the project, including Melloul-Blamey Construction, Whitney & Company Realty Ltd. (office leasing), MHBC Planning, MTE Consultants (engineers) and Paradigm Transportation Solutions.

“The project will be built to LEED (Leadership in Energy and Environmental Design) standards for office buildings, feature substantial green spaces and be a pedestrian and bike-friendly environment,” says Mark Kindrachuk, president of Intermarket Developments.

He adds that the overall development is planned to be more than 800,000 square feet and will be transit-friendly, as a Light Rail Transit (LRT) station is to be built across the street.