New 12-storey apartment building gets staff approval

City staff has given its stamp of approval to a proposed 12-storey apartment complex on Yarmouth Street in downtown Guelph.

The development is proposed for what is currently an empty lot at 45 Yarmouth St., located between a nine-storey apartment building to the north and the heritage Raymond Sewing Machine Company building to the south.

The staff recommendation comes before a planning meeting of City Council on Feb. 13. The developer still needs a zoning by-law amendment to allow the 12 storeys and some other minor variances.

The development would have 75 units, 62 off-street parking spots in an underground garage and a 143-square metre commercial unit fronting Baker Street. It would include 55 two-bedroom units and 20 one-bedroom units.

The developer, Ayerswood Development Corporation, had originally been seeking a zoning amendment that would have allowed a 14-storey, 89-unit building, two floors above what is currently permitted.

But they changed their minds following a public meeting held on the matter in April.

The staff report says that the proposed development would bring in an estimated $1.27 million in development charges and annual property taxes of $317,000.