[ScreamingViking]

If it turns out according to the way it's described, this is great news. If it turns out to just be more big box retail outlets amidst commercial/industrial buildings, the full potential won't be met and more area traffic issues shall ensue (but yay employment, DCs and property tax revenue).

Here's the link to the Flamborough Review's story page if you have Spec paywall issues.


Massive development proposal would reshape Clappison's Corners
iConnect would bring 2,000 residential units, 3,000 jobs

by Mac Christie, Flamborough Review
(via the Hamilton Spectator)
July 10, 2019




A massive development that has the potential to drastically reshape the area around Clappison's Corners has been proposed by the Krpan Group.

The development group, which owns and manages the Flamborough Power Centre and surrounding properties, confirmed in an interview July 9 they are proposing a massive development — including 2,000 residential units, 1.5 million square feet of commercial space and 3,000 jobs are slated for the business park at the intersection of Highway 5 and Highway 6 in Waterdown.

John A. Krpan, senior investment manager with the Krpan Group, said the proposed iConnect Business Park would fit the needs of large corporations who have or are interested in locating the business park — such as Stryker or L3 WESCAM. He said the slated community is designed to make employees happy by having live, work, shop and play options all close at hand.

"We are understanding that to get in the biggest and the best names into the area … these companies need to know where their employees are going to live."

The business park area — which generally stretches from Highway 6 in the west, to Parkside Drive in the north, the WESCAM lands to the south of Dundas Street to the south and east of the soon-to-be-complete Clappison Drive in the east — is made up of approximately 100 acres.

Of that, Krpan said the proposal would see 1.5 million square feet of employment lands — and a total of about 3,000 jobs at full build out.

"Almost one-third of that is already done, in agreement or up and going," he said. "That includes 120,000 square feet and 250 jobs for Stryker, 330,000 square feet at WESCAM and up to 1,500 jobs."

Krpan added there are still more companies to come.

"We have some agreements in place — I can't speak about which companies they are — but we have a couple hundred thousand square feet of deals already done and agreed to go around Stryker," he said. "That will be coming online in the next year or two, at the most."

But the businesses — such as Stryker — are attracting a very young staff.

"None of these people either can afford, or necessarily want to live in a detached home — and that's all that Waterdown really provides right now," he said. "What we think makes the most sense is to turn some of the land — 60 acres … into residential — what we're calling attainable housing."

Krpan said the plan would see approximately 2,000 residential units including low-rise townhomes, mid-rise residential and highrise residential — which will feature condos and rental apartments. As well, a nursing and retirement facility is also slated for the development with over 350 beds.

In a breakdown provided by the Krpan Group, the project is slated to have 392 stacked townhouse units on the north side of Dundas Street, 54 single townhouses, 80 mid-rise units, 630 highrise units, 165 retirement beds and 192 nursing beds.

Meanwhile, the south side is slated for 64 stacked townhouse units, 16 single townhouse units, 388 mid-rise units and 220 highrise units.

...

The area already features about 700,000 square feet of retail commercial lands — making up the 'shop' component for someone living nearby, Krpan said. That includes amenities such as No Frills, hair salons, veterinarians, dentists, daycare, dentists and coffee shops and restaurants.

He noted there will be more restaurants built in the area of the Keg and Boston Pizza — as well as other mixed-use uses. Krpan said the group is nearing capacity for retail businesses in the area — but said when more residential units are built, more retail will be demanded.

...

In terms of a time frame for the development, Krpan said they are hoping to have rezoning approvals in the next year, and have site plan approval for the first build in 2021 or 2022.

Krpan said the city is expected to garner approximately $65 million in development charges from the growth to come as a result of the project, plus approximately $20 million in property taxes per year.

"That's just of what's to come," he said. "They've already realized a bunch of development charges from this project, as well as property taxes per year."

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full story here