The City of Waterloo has approved the sale of the city-owned Former Kraus Lands to Urban Legend Developments (ULD), for building a mixed-use community for nearly 5,000 residents.
The 34-acre greenfield site, located near University Avenue and Woolwich Street, will feature a a mix of affordable and attainable housing options and commercial amenities like a grocery store, retail promenade, event space, public trails and green space.
Plans call for 1,800 new homes, with 100 permanently affordable options—30 rental and 70 ownership units—offered in a mix of one- and two-bedroom layouts. A built-in legal framework will ensure these homes remain affordable in perpetuity.
Sustainability is also embedded throughout, with features such as green roofs, solar panels, permeable pavement, rooftop water storage, LED lighting, and more than 2,000 new trees. The neighbourhood will also include EV0charging stations, naturalized stormwater systems, and green building elements like oversized windows and natural ventilation. At least 25 per cent of the site will remain dedicated to parks, open space, and trails, including a universally designed park and preserved natural buffers.
The Former Kraus Lands were made available through a request for expression of interest issued in June 2020. Following a multi-year process involving collaboration, public and First Nations engagement, and project refinement, ULD was selected to lead the transformation of the site.
“Our team is thrilled to be working alongside the City of Waterloo on such a transformative project,” said Paul Leveck, president of ULD. “This is an incredible opportunity to help realize the City’s long-term planning goals—bringing much-needed housing, delivering inclusive community spaces, and setting a new standard for sustainable neighbourhood design in Waterloo.”
Construction of this new community will take place over the next 10 years. The next stage will focus on detailed design and planning approvals, laying the groundwork for site servicing and the first phase of residential construction. Ongoing consultation with key groups including First Nations will continue, as well as public consultation to align with the various planning phases of the site.
