Waterloo-based HIP Developments is spearheading a $50 million project designed to revitalize the former American Standard property along the Speed River in Cambridge, Ont.’s Hespeler Village.
"This is about more than constructing buildings," says HIP president Scott Higgins. "It’s about community building and how the project will enhance the Hespeler core and create a space for everyone to enjoy."
The project includes construction of "The Standard," a new 10-storey, 152-unit luxury apartment building and conversion of an iconic riverside mill into 45 condo units, set to become the "Riverbank Lofts."
The Standard building will also house a 1,500-square-foot ground-floor retail space with an outdoor patio on downtown Queen Street.
The general contractor is Melloul-Blamey Construction Inc. of Waterloo.
Development plans for the site were approved by the Cambridge Municipal Heritage Advisory Committee in October of 2015. The development includes community and park space.
The property, most recently the site of an American Standard manufacturing plant, is envisioned to become a focal point for the village. The plant closed in 2007.
In an interview, Higgins said his firm saw a prime opportunity to redevelop "a fantastic site" along the river in the heart of Hespeler Village.
"We saw a majestic historical structure (the mill) right on the water," he said. "We also saw a really good (development) opportunity within the interior of the site.
"It is tough to find these landmark sites."
Higgins, a Cambridge native, also believed market conditions were ripe for development of a high-end apartment building in addition to the riverside condos.
"A lot of people from Hespeler really love the area and want to stay," he said. "We saw a lot of pent-up demand for this type of product."
The development is expected to bring more than 300 new residents to the core of the village, which is part of the city of Cambridge.
HIP acquired the property last fall. It is retaining two of the original industrial structures that were on the site.
"There are a lot of interesting things that we are trying to achieve from both a landscape and architectural point of view," Higgins said.
Some of the stone and timber from demolished structures are being salvaged and incorporated into property signage and throughout the public space.
Currently, construction is underway on the apartment building. Completion is scheduled for the fall of 2017. The team includes ABA Architects Inc. of Waterloo, civil engineers Meritech of Cambridge, structural engineers MTE Consultants Inc. of Kitchener and planners and landscape architects MHBC of Kitchener.
"The challenge has been to develop an architectural palette that is modern in its approach while still trying to make the midrise building blend in with the historical site," Higgins said.
To accommodate soil conditions, caissons are being drilled down to bedrock. Civil works are underway on the site as well.
Given the location in the village, attention will be paid to mitigating the impact of construction on the community. The site is adjacent to Hespeler’s main retail street.
"It’s a matter of being sensitive to the impact of investing $50 million in new construction within a relatively small downtown area," Higgins said.
HIP hopes to begin work on conversion of the century-old mill into condos next spring. The four-storey stone building will be refurbished. Masonry repointing will be required.
"On the inside, we will be replacing a number of the structural timbers," Higgins said. "There is quite a bit of work that we need to do, to bring the building up to current-day standards."
HIP has been working with its partner, previous owner JG Group, the City of Cambridge and the Hespeler Village Business Improvement Area to bring the project to reality.
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