$50M Ontario downtown redevelopment to also repurpose historic waterfront mill

It’s been eight years in the making, but Shawky Fahel’s dream of redeveloping the former American Standard building is about to come to fruition, with the help of Scott Higgins and HIP Developments Inc.

On Feb. 17, 2016 the pair announced the imminent start of construction on the $50-million project in downtown Hespeler (Cambridge, Ontario, Canada).

Hespeler Village is about to see the revitalization of the former American Standard property at 19 Guelph Avenue. HIP Developments Inc., a local real estate development company, recently acquired the former mill site and industrial buildings and is set to begin its $50 Million investment at the landmark Hespeler site. The property is in a highly desirable location along the Speed River at the base of the Mill Pond Falls and is adjacent to the main retail street of Hespeler; Queen Street.

The redevelopment project will see 197 new residential units with retail, amenity and community space added to the Hespeler Core Area along with the adaptive re-use of historic buildings built in the 1800s. HIP has worked collaboratively with its partner, previous owner JG Group, the City of Cambridge and the Hespeler BIA through design and municipal approvals towards bringing the vision to reality.

Set to commence in March of 2016, the project will see construction of “The Standard”, a new 10 storey, 152 unit luxury apartment community; and rejuvenation and conversion of the iconic four storey riverfront building along the Speed River into 45 condominium units, the “Riverbank Lofts”. Both buildings will feature spectacular views of the Speed River, Mill Pond Falls and Mill Pond, and will offer future residents convenient access to commercial amenities in the many Queen Street shops. The redevelopment will strike a balance between new investment and recognition and inclusion of history.

During a news conference to announce the start of construction, Mayor Doug Craig said, “This is a day we’ve all been looking forward to for a very long time. This is about the evolution of this community – blending the old with the new.

In the second phase of the project, work crews will tackle the repurposing of the historic riverfront mill, converting the former work halls of the remaining limestone structure into 45 condominium units.

See full article & image credit.

Download project description (PDF).

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