Mixed-Use Building Planned for Oak Street
An existing C-2 zoned strip retail building at the corner of Oak Street and Laurier Avenue (one block North of King Edward) is proposed for redevelopment to allow a 4-storey building with retail uses on the ground floor and 11 residential units above, all over two levels of underground parking. Details for this 12,819 SF site include:
- Total density of 29,100 SF or 2.27 FSR (less than 2.5 max due to site restrictions)
- Top floor has two 2,000 SF units targeting downsizers
- Each unit gets two parking stalls
- Concrete construction with high quality interior and exterior finishes
The site was acquired by Xpec Oak Holdings Ltd. in 2014 for $7,900,000, or $271 per buildable SF based on the proposed density.