WATERLOO — Iconic. Remarkable. Futuristic.

Those were just three of the words councillors used Monday to describe a five-building, multi-use project on a massive swath of land at 124 and 130 Columbia St. W. and 365 Albert Street.

Councillors approved the third and final version of the Prica Group project unanimously.

"I enthusiastically endorse this proposal," said Coun. Mark Whaley.

Calling the transformation of the project "remarkable," he admitted he wasn't as enthusiastic when it was first brought forward January.

"I was publicly negative," he said.

The project has changed dramatically since it was first proposed in January.

It started with four-buildings, 195 units, 975 bedrooms and 195 parking spaces. It was revised to five seven-to-13-storey buildings and 250 bedrooms, before landing at the approved plan.

It includes:

• Five buildings ranging from six to 14 storeys.

• Six hundred one- and two-bedroom units, 769 bedrooms.

• 2,250 square metres of commercial space.

• 283 parking spaces, mostly underground.

Typically, 818 parking spaces would be required, but because of the building is in Northdale and walking distance to transit, employment and the universities a reduction was permitted.

Coun. Karen Scian said when she was first elected to council she voted against most development applications because they just weren't good enough.

She said this is the type of development council wanted to see.

Ward

Jeff Henry agreed.

"What this demonstrates today is that when council sets out a bold vision for what it wants to see in the community the private sector can respond to that," he said.

Two 14-storey buildings back on to an existing industrial business and face north to block wind impacts.

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Three six-storey and one eight storey building front on to Columbia Street West.

Perhaps one of the most unique elements of the project is a pedestrian corridor that runs horizontally from Albert Street between the towers.

"Our site is essentially a hub which brings everything together," said architect Atif Aqeel from ASP Design Group.

It includes an amphitheatre, raised patio, promenade, performance area and also has vertical connections form Columbia running between the buildings.

Development planner Trevor Hawkins said the design of the promenade took some work, to ensure pedestrians wouldn't be swept down a wind tunnel.

"We were concerned that … it perhaps would not be the most hospitable," he said.

The developer will spend about $200,000 on public art for the space and has also agreed to upgrade the Columbia and Albert streetscapes.

The project is within 800 metres of two planned light rail transit stops and is on an iXpress bus route.

Commercial and amenity space will be on the ground floor of every building and could include offices, medical/dental, coffee shop, variety store, art gallery, food store or community use.

Still to be worked out are noise mitigation measures between Prica Group and an abutting business directly to the north of the property to ensure they won't impact each other with noise.

Brian Smith from Raytheon Canada Ltd. said he wants to ensure the business isn't impacted.

"We didn't want this development to affect the ability of Raytheon to continue operating," he said.