HomeMy WebLinkAboutFCS-17-069 - P16-106 - Land Sale 345 King Street West
REPORT TO: Committee of the Whole
DATE OF MEETING: 2017-03-20
SUBMITTED BY: Michelle Palmer, Director of Supply Services
519-741-2200 ext. 7214
PREPARED BY: Michelle Palmer, Director of Supply Services
519-741-2200 ext. 7214
WARD(S) INVOLVED: Ward 9
DATE OF REPORT: 2017-03-07
REPORT NO.: FCS-17-069
SUBJECT: P16-106 Land Sale 345 King Street West
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RECOMMENDATION:
That Proposal P16-106 Land Sale 345 King Street West, be awarded to Perimeter
Urban Development Corporation, and further;
That the Mayor and Clerk be authorized to execute an Agreement of Purchase and
Sale with Perimeter Urban Development Corporation for their acquisition of the
City’s parcel of land located at 345 King Street West, having an area of
approximately .14 ha (.35 acres), legally described as Lot 11 Plan 375; Part Lot 12
Plan 375 to be subject to a 15 foot easement along the westerly property line to
be created and reserved in favour of the City, at a total purchase price of
$2,348,500.00; said agreement to be to the satisfaction of the City Solicitor; and
further;
That the Mayor and Clerk be authorized to execute all documentation required to
complete the transaction, said documentation to be satisfactory to the City
Solicitor.
BACKGROUND:
The property which is the subject of this report is a .35 acre parcel on King Street West,
zoned Retail Core Zone (D-1), with access from King Street West and Halls Lane.
The lands were declared surplus by Council on November 21, 2016 and subsequently
offered for sale through a request for proposal process. .
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REPORT:
Request for Proposals were advertised publicly on the City of Kitchener website and the
Internet through the Ontario Public Buyers Electronic Tendering Information System.
Documents were downloaded by six (6) interested parties and by the closing date of
Friday December 23, 2016, four (4) proposals had been received.
The following proposals were received:
Perimeter Urban Development Corporation Kitchener ON
Maxwell Building Consultants Ltd., Waterloo ON
In trust for a new entity comprising of
Momentum Developments and Zehr Group of Companies
Intermarket Real Estate Group (Intermarket MMK Ltd.) Toronto ON
Vive Development Corporation Kitchener ON
The proposal from Maxwell Building Consultants Ltd. was subsequently withdrawn
which was permitted given the non-binding nature of this particular request for
proposals process.
The proposals were rated on the following criteria:
Design Guidelines - development vision for the property, including but not limited
to architectural / urban design principles, density of development and potential
employment densities in accordance with the City’s Urban Design Manual (City
Centre District Design Brief) and Planning Around Rapid Transit Stations
(PARTS) Central Master Plan.
Laneway - creative design solutions for the building along the laneway that
incorporate pedestrian use into the functionality of the laneway will be considered
Ability of the Bidder to complete the transaction
Commitment to public access to underground parking outside of business hours
Interface between the building and public access along the laneway between
King St and Halls Lane
Acceptability of any proposed conditions identified
Past projects
Financial considerations
A building permit must be obtained for the proposed development within 12 months
after the Agreement of Purchase and Sale is executed. The sale will close when the
building permit is issued.
The offer is conditional for sixty (60) days from acceptance on the Purchaser being able
to have executed a binding lease agreement with a tenant acceptable to the Purchaser.
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The proposals were reviewed by the evaluation committee consisting of staff from Legal
Services, Economic Development, Planning, Financial Planning and Supply Services as
well as Rick Haldenby from the School of Architecture, who concur with the
recommendation.
ALIGNMENT WITH CITY OF KITCHENER STRATEGIC PLAN:
The recommendation of this report supports the achievement of the city’s strategic
vision through the delivery of core service.
FINANCIAL IMPLICATIONS:
The sale proceeds will be deposited into the Economic Development Reserve in
accordance with Council Policy to invest in future parking assets to replace the surface
parking which is being taken out of inventory.
COMMUNITY ENGAGEMENT:
INFORM – This report has been posted to the City’s website with the agenda in
advance of the council / committee meeting.
PREVIOUS CONSIDERATION OF THIS MATTER:
CAO-16-033 Declaration of Surplus and the Sale of 345 King St W, approved by
Council on November 21, 2016
ACKNOWLEDGED BY: Dan Chapman, Deputy CAO & City Treasurer, Finance and
Corporate Services
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