(Click Button below to read the actual report)
Feb 24, 2025 – Staff Report that recommends the funding proposal of $2.9M for the property acquisition, required capital improvements, legal and closing cost, and future demolition as part of 250 Lincoln Road project, ultimately for the land to be used for housing
City staff began looking into the purchase of the property in fall 2024. It was seen as a low-risk investment, with excellent access to transit, proximity to schools and commercial services in an established neighbourhood.
If the existing R1 Zoning was kept, this land could include up to 12 houses, however is zoning changes it could accommodate up to 30 ‘units’.
Additionally it was said in the report that the housing could be affordable and help fit the City’s overall plan that 30% of new housing should be affordable.
[NOTE: affordable is not defined in this document, and as a general rule, the City of Waterloo’s usage is colloquial, and not in line with the definition of ‘affordable’ that the province of Ontario uses, which is rent or mortgage + utilities +taxes, and fees do not exceed 30% of gross annual household income for low-to-moderate-income households]
Also note that Eyes on Waterloo acquired this document in March 2026 through a Freedom of Information request made in December 2025.