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The region is removing seven parking spaces on Water Street North and changing the one-way between Simcoe and Ainslie streets to two-way traffic, to make way for construction of the recently-approved condominium and hotel towers being built by Pearle Hospitality Group.
Currently homeowners in the Waterscape Condominiums use an easement created through the Cambridge Mill property at 130 Water Street North to access the buildings when driving in from the south.
The change will allow the region to do away with the easement, allowing construction to get underway on the property and giving Watermark condo owners the ability to enter their property from the south through existing driveway to Water Street.
A transportation impact study completed for the Cambridge Mill project in October 2020 recommended the change, saying intersections in the area, including Park Hill Road and Ainslie and Simcoe Street, would experience deficiencies from the increased traffic volumes if two-way traffic wasn’t implemented.
It also recommends creating a northbound lane running through the parkette adjacent to the Shoppers Drug Mart property that would provide a right-turn only onto Ainslie Street.
The developer is responsible for all costs related to the work.
Pearle Hospitality is expected to begin construction soon on the 253 unit condominium tower and 146-unit hotel tower, which will be connected by a two-storey podium with underground parking.
The project is set to include a parking garage located across the street at 125-129 Water Street North that will be connected to the hotel by an elevated pedestrian walkway over Water Street.
