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Complete Schembri King St Student Apartments | 46 m | 15 fl

Post #1683
Unknown date
Unknown Author

Student Rental Apartment Development
345 King Street North, Waterloo
Schembri Property Management & Jamesway
www.schembripm.com/coming_soon.php
www.jamesway.ca/project_detail.php?project_id=32
More Details

Render - April 27, 2008

Click For A Larger Render

Finished Product: http://www.jamesway.ca/project_detail.php?project_id=32
Post #1684
02-04-2010 08:40 AM
Unknown Author

Moderator
Kitchener-Waterloo
Joined Dec 2009
5693 posts
April 27, 2008
I know it's a terrible photo, but I was in a rush today.



May 27, 2008

Looking South


Looking North



August 6, 2008

Looking South


Looking North



















September 26, 2008
By: waterloowarrior



November 7, 2008
View from Uptown Waterloo (King & William)



April 12, 2009
By: myfaceisonfire

I think the telephone pole helps this picture


Looking north up King
Post #1685
02-04-2010 09:00 AM
Unknown Author

Moderator
Kitchener-Waterloo
Joined Dec 2009
5693 posts
Two new residence buildings
Lauren Millet - May 20, 2009 6:36 PM
http://www.thecord.ca/articles/22023

Two new buildings have been leased by Laurier residential services, one that holds 82 students at 325 Spruce Street and one with 385 students at 340 Spruce Street.

The buildings were purchased to accommodate the increase in students who have been promised residence rooms for the 2009-10 academic year.

“While we’ve got a problem, it’s a more manageable problem. The kids who will be in the new buildings will just love it. They’re brand new and very spacious,” said director of residential services Mike Belanger.

“Looking at it from a distance point of view, its only a five to seven minute walk to campus. It might be only marginally further than University Place [residence] to the centre of campus.”

The new buildings will be priced comparably to Laurier’s high-end accommodations such as King Street Residence, which costs $5,966 for a single room.

The university will be taking occupancy on August 15 and has signed a 20 and a half-month lease on the two buildings.

According to Belanger, however, Laurier only wants the buildings for the eight months first-year students are in school.

“The people who own these places wanted a long term lease, but we didn’t want that. We’re looking into other solutions,” said Belanger.

“We will hope that there will be some new building going up, so we can do the same kind of leasing arrangement again for the new number [of we will need.”

The conditions for Laurier to pull out of the lease after the end of April require the university to give the owner of the building the equivalent number of students to continue living in the residence for their second year.

“It will be a bit of a marketing campaign beginning in October/November,” said Belanger. “But we don’t think we will have much trouble filling them.”

Belanger says that the rent for students continuing to reside after their residence contract is fulfilled will be comparable with the competitive high-end student housing in the city.

Students will also be able to lease single or double rooms and will not have to fill an entire unit.

The owners of the building have the intention of putting a restaurant and bar on the ground level of the larger building, but it will not begin construction until after Laurier is out of the lease, as Belanger feels it would be too hard to control with first-years living in the building.

In order to maintain the same level of quality and experience for first-years, a number of things are being done to deal with the increasing numbers.

“We added a new co-ordinator this year, along with more dons to make sure that the experience stays the same,” said Chris Dodd, manager of housing services and residence life.

“If we can keep our staff ratio the same, we expect to be able to deliver the same level of service.”

Last year, there was a similar problem, as there were also too many students for the amount of beds available in residences.

When this happens, the university does have some room to adjust internally by converting large single rooms into doubles and pushing senior, graduate and international students farther from campus to make more room for first-years.

This year, residence life will not offer students bunk beds in Bricker residence, which was one of the solutions for the problem last year.


345 King Street North
http://www.mylaurier.ca/residence/in...es/345king.htm


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The student residence located at 345 King Street North is a newly-constructed 14-storey building leased by Wilfrid Laurier University for the academic year starting in September 2009. The building has 94 apartment units in 3-, 4- and 5-bedroom configurations that will house a total of 386 students in single rooms, including 13 Residence Life Dons. This apartment-style co-ed building is fully furnished with University residence style furniture. The building is located approximately 5 minutes from the Laurier main campus.

Each apartment unit at 345 King Street North has 2 full washrooms, as well as a common kitchen, living room/dining room. The kitchen is furnished with a fridge and stove, thereby making the University meal plan optional.

The building has an several all-purpose meeting rooms, a laundry room with coin-operated machines, a bicycle/storage room and elevators.
Post #1690
02-04-2010 09:25 AM
Unknown Author

City Member
Joined Dec 2009
681 posts
Pretty sure this just sold for 27 million.
Post #2443
03-02-2010 11:36 PM
Unknown Author

Town Member
Joined Mar 2010
216 posts
That's a nice return. But this beast looked much better when it was all white, before the crappy stucco was added. Who bought it? A bar on the ground floor--could that be Phil's? Phil's strip plaza surely will go highrise eventually.

The parties must be amazing in these buildings. If I was twenty today, what fun could be had!
Post #2444
03-02-2010 11:44 PM
Unknown Author

City Member
Joined Dec 2009
681 posts
They never disclosed the buyer. It was 375k a unit a I think average.

I agree with the bar idea and I would also move into the building in a second if I was 20. Although that could lead to some crazy stuff. They need something to go along with all these student housing buildings and mixed use should be one of them.
Post #2448
03-03-2010 12:06 AM
Unknown Author

Town Member
Joined Mar 2010
216 posts
Yes, City of Waterloo should mandate at least one retail outlet per building at the base. I could easily see all sorts of cool coffee shops, falafel stands, gourmet burger joints, a poutine place, etc making good money of these kids.
Post #2451
03-03-2010 12:43 AM
Unknown Author

Metropolis Member
Kitchener
Joined Dec 2009
4277 posts
Its shocking that this hasn't been zoned as mixed use. They really need to follow Kitchener's mixed use corridor plan on this one, as well as Columbia. It would go a long way to help improve this area.

The report on the Northdale neighborhood coming out in April better recommend that.
Post #2458
03-03-2010 02:06 AM
Unknown Author

Moderator
Kitchener-Waterloo
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March 1, 2010



Post #2476
03-03-2010 12:21 PM
Unknown Author

Urban Issues Moderator
Belmont Villiage
Joined Dec 2009
443 posts
The opinions expressed in my messages may not be the shared opinions of Wonderful Waterloo
E-mail me! - accessibility@wonderfulwaterloo.com
That would be a nice looking prison. It's an ugly residence.
Post #6207
05-05-2010 12:17 AM
Unknown Author

Metropolis Member
Kitchener
Joined Dec 2009
4277 posts
Noticed today that this beast has a two level above ground parking structure behind it ruining things from the Spruce st perspective. Oh and of course it's tan stucco haha.

And the sign behind the building makes it look like its called Hotel Laurier. Trying to scam from Chateau Laurier? I think so.
Post #7082
05-19-2010 12:17 PM
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Hamlet Member
Joined May 2010
39 posts
Quote Originally Posted by Spokes
Noticed today that this beast has a two level above ground parking structure behind it ruining things from the Spruce st perspective. Oh and of course it's tan stucco haha.

And the sign behind the building makes it look like its called Hotel Laurier. Trying to scam from Chateau Laurier? I think so.
The colour is ugly as sin. The name was put on there by WLU, so if anything maybe they have an internal theme for these places they're trying to follow.
Post #7085
05-19-2010 12:32 PM
Unknown Author

Metropolis Member
Kitchener
Joined Dec 2009
4277 posts
Quote Originally Posted by usemywaterloo
The colour is ugly as sin. The name was put on there by WLU, so if anything maybe they have an internal theme for these places they're trying to follow.
Ya but WLU only has these leased out for another year, then who knows what will happen.
Post #7183
05-19-2010 07:08 PM
Unknown Author

City Member
Joined Jan 2010
744 posts
Quote Originally Posted by usemywaterloo
The colour is ugly as sin.
No doubt about that one. I like to think of it as a landmark - meet me by the ugly orangish-brownish-beigeish apartment by McDonalds. Everyone will know where you're talking about.
Post #7198
05-19-2010 08:36 PM
Unknown Author

Metropolis Member
Kitchener
Joined Dec 2009
4277 posts
Quote Originally Posted by Duke-of-Waterloo
No doubt about that one. I like to think of it as a landmark - meet me by the ugly orangish-brownish-beigeish apartment by McDonalds. Everyone will know where you're talking about.
You'll soon have another one to use as a landmark on Lester. Meet me at the building that fits in as many neutral tones as it possibly can without matching at all.
Post #21618
12-22-2010 01:20 PM
Unknown Author

City Member
Kitchener Waterloo
Joined Oct 2010
603 posts
Benjamin Bach | Real Estate Sales Rep @ Cushman & Wakefield Waterloo Region Ltd. brokerage. Not intended to solicit clients or properties under contract.
Quote Originally Posted by RangersFan
But we all have our own opinion and keep in mind that I have never successfully had any developments built that look better.
While 345 King may not do well on the above "most attractive" list, it is one of the best student investment assets in Waterloo.
Post #21620
12-22-2010 01:50 PM
Unknown Author

Metropolis Member
Kitchener
Joined Dec 2009
4277 posts
Quote Originally Posted by benjaminbach
While 345 King may not do well on the above "most attractive" list, it is one of the best student investment assets in Waterloo.
Really? In what regards?
Post #21622
12-22-2010 02:15 PM
Unknown Author

City Member
Kitchener Waterloo
Joined Oct 2010
603 posts
Benjamin Bach | Real Estate Sales Rep @ Cushman & Wakefield Waterloo Region Ltd. brokerage. Not intended to solicit clients or properties under contract.
Quote Originally Posted by Spokes
Really? In what regards?
It has an investment-grade tenant

Most landlords with a building that size deal with 386 tenants, not 1.

As an aside, if your building is leased to a university, vs leased to university students, your financing from CMHC is much better. They require a smaller down payment, you'll get a lower rate, etc. In addition to the added security of having the University as a tenant.

PS Investment grade tenant refers to the credit worthiness of the tenant. Laurier has a "A" rating with a Stable trend in a 2010 assessment.
Post #21625
12-22-2010 01:20 PM
Unknown Author

City Member
Kitchener Waterloo
Joined Oct 2010
603 posts
Benjamin Bach | Real Estate Sales Rep @ Cushman & Wakefield Waterloo Region Ltd. brokerage. Not intended to solicit clients or properties under contract.
Quote Originally Posted by RangersFan
But we all have our own opinion and keep in mind that I have never successfully had any developments built that look better.
While 345 King may not do well on the above "most attractive" list, it is one of the best student investment assets in Waterloo.
Post #21634
02-04-2010 08:36 AM
Unknown Author

Moderator
Kitchener-Waterloo
Joined Dec 2009
5693 posts
Past Render - November 13, 2007

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Finished Product: http://www.jamesway.ca/project_detail.php?project_id=32