Two local firms, Momentum Developments and Zehr Group, have joined forces to develop a large condominium project in the Innovation District of downtown Kitchener, Ont.
Designed by ABA Architects, the One Hundred project consists of two towers, 17 and 21 storeys, rising above a three-storey podium at 100 Victoria St. S.
The podium will be capped with a rooftop terrace. In all, 350 suites will be provided.
Mike Maxwell, principal at Momentum Developments, said construction is targeted to be completed in fall 2019 on Phase 1, the 17-storey tower that also features 6,000 square feet of retail space and parking.
Construction on Phase 2, which includes the second tower and additional parking, is expected to get underway in summer 2019, Maxwell said.
The project is being built by Zehr Levesque, the construction arm of Zehr Group. The team includes structural engineers Jablonsky, Ast and Partners, mechanical engineers Collins Engineering Group and electrical engineers Mighton Engineering Ltd.
Landscape architects and planners are GSP Group.
Maxwell said construction hasn't posed any particular challenges to date. Ground was broken last fall on Phase 1. As of early May, excavation was nearing completion.
Key subtrades include: Redline Structures Inc. (concrete forming); Tri City Ready Mix Ltd. (concrete supply); Fred Kau Plumbing and Heating; Gosen Electric Ltd.; and Goldstar Drywall Services Inc.
While Waterloo-headquartered Momentum and Kitchener-based Zehr Group previously worked together to develop the Red condominium in uptown Waterloo, One Hundred is their first formal joint venture.
Maxwell said forming a partnership to jointly develop and build projects allows the firms to leverage each other's expertise respectively in condo development and construction and property management.
The increasing demand for condominiums in downtown Kitchener is being attributed to the region's new light rail transit system as well as increasing employment opportunities within the high-tech sector that is fuelling growth in the Innovation District.
A planned multi-modal transit hub is slated to be built on the corner of King and Victoria streets.
"The Innovation District is a core area of growth within Waterloo Region," Maxwell said.
Momentum Developments and Zehr Group recently announced plans for the Charlie West highrise condo development across the street from Victoria Park and a few blocks from the Innovation District.