Real Estate Advisory

Strategic Utilization Analysis of City‑Owned Properties in Uptown Waterloo, Ontario


City of Waterloo


City of Waterloo

NBLC Services

Office Market Analysis
Residential Market Analysis
Asset Management Services

Project Description

NBLC was retained by the City of Waterloo to conduct a strategic analysis for the future utilization of City-owned lands in Uptown Waterloo. The City has extensive land holdings in its Uptown Core which are primarily used for parking. However, over time the market demand and value of these properties will support more intensive uses, and yield value to the community through their redevelopment.

The overarching goal of the Strategy was to provide advice on how to best utilize select Uptown sites to facilitate and foster exemplary economic development and to meet the long-term needs of the community. Working within the context of Waterloo’s Official Plan and other guiding documents, NBLC prepared a strategy which would guide the City towards the establishment of an ongoing improving quality of place in the Uptown that is increasingly dynamic, featuring a vibrant street life, a stimulating and appealing natural and urban environment, and inclusive context where residents and workers interact and participate.

In total, 14 sites, comprising 16 parcels of land, were evaluated as part of the study, predominantly consisting of surface parking lots (approximately 1,400 parking stalls). NBLC prepared a strategy for utilizing the sites to achieve numerous policy and strategic directives for the Uptown. The recommendations were informed by assessments of the development potential of each site.

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