City of Waterloo approves sale of City-owned lands to Urban Legend Developments for vibrant, mixed-use community

Community will be home to nearly 5,000 residents, featuring a range and mix of affordable and attainable housing options.

City of Waterloo Council has approved the sale of the city-owned Former Kraus Lands toUrban Legend Developments (ULD), for redevelopment into a people-first neighbourhood built around affordability, sustainability and community-focused amenities.

This 34-acre greenfield property, located near University Avenue and Woolwich Street, will be transformed into a residential and commercial community that includes approximately 1,800 new homes, a grocery store, retail promenade, event space, public trails, green space and unique sustainability features.

“This is another exciting opportunity for Waterloo to make city-owned lands available to achieve our housing objectives," said City of Waterloo Mayor Dorothy McCabe. “This mixed-income, mixed-use development will support everyone, from first-time buyers to growing families and seniors. With plenty of greenspace, new amenities and links to existing trails and transit systems, this will be another vibrant, thriving complete community for Waterloo.”

The Former Kraus Lands were made available through a Request for Expression of Interest (REOI) issued by the City in June 2020. Rather than a traditional land sale, the City was seeking a visionary development partner that could deliver a community aligned with its long-term goals—vibrant, inclusive, sustainable, and reflective of Waterloo’s evolving identity. Following a multi-year process involving collaboration, public and First Nations engagement, and project refinement, Urban Legend Developments 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 Urban Legend Developments. “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.”

Affordability is central to the redevelopment, with 100 permanently affordable homes—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.

"Affordability is a cornerstone of this project, and we’re dedicated to ensuring that the 100 affordable homes in this neighbourhood remain accessible to those who need them most, both now and in the future," said Leveck. "This approach reflects our commitment to creating a strong, inclusive community that supports Waterloo's growth and diversity."

In addition to new housing, the development will include a full-service grocery store, community gardens, and more than 1.75 km of public trails that connect seamlessly with Waterloo’s existing trail network. Sustainability is embedded throughout, with features such as green roofs, solar panels, permeable pavement, rooftop water storage, LED lighting, and over 2,000 new trees. The neighbourhood will also include EV charging 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.

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.

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 For media inquiries, please contact:

Rachael Marshall

Durrell Communications

289-925-8041

Cari Van Niekerk

Director, Corporate Communications
City of Waterloo
519-635-6954