The construction of two new 30-storey residential towers in Oakville is a lot closer to fruition.
Oakville council recently voted to approve rezoning to permit construction of two 20-storey towers in the area of Dundas Street and Trafalgar Road along with the eligibility for the towers to reach 30 storeys in height.
This comes after developer, 30643064 Trafalgar Road Holdings Inc. (Distrikt), had requested zoning changes to build the two towering buildings at the 0.82 hectare site.
While council has approved a permit that would allow for the construction of two 20-storey structures with a podium and underground parking, the developer can increase the buildings to 30-storeys under the bonusing policies of the North Oakville East Secondary Plan.
For the additional height, 30643064 Trafalgar Road Holdings Inc. (Distrikt) can work out an additional agreement with the planning and development council at a later date.
“The potential for two 30-storey towers would potentially accommodate 678 residential units and 738 parking spaces with an underground parking garage,” Town Senior Planner Tricia Collingwood said during the meeting.
Among the issues raised at a public meeting last November on the development proposal was the inclusion of affordable housing units as part of the bonusing potential.
Collingwood said affordable units have been included as a priority item in the list of bonusing considerations to be considered in exchange for an increase in height.
“The owner of the lands has indicated an interest in working with the Town to define this opportunity further through the bonusing discussions,” she said. “The appropriateness of all proposed benefit to be exchanged for height will have to be evaluated further over the next few months during the beginning of the site planning application review process.”
The site is bounded on two sides by the East Morrison Creek and the Natural Heritage System lands and while the site property has a detached dwelling, it is set to be demolished before development begins.