Last week, HIP Developments, Grand Innovations, Conestoga College, and Cambridge Mayor Doug Craig gathered at the Dunfield Theatre to unveil the plans for a new master-planned community in downtown Galt, dubbed The Gaslight District.
The Gaslight District will come to life through a massive $100 million redevelopment of the Southworks and Tiger Brand properties at 64 & 96 Grand Avenue South. The community will feature office space specifically for high-tech jobs, new retail, restaurants, a new public square, and approximately 400 new residential units.
“With deep roots here, having been born and raised in Cambridge, I’ve always believed we have a truly unique Galt core that has tremendous potential to foster a work, live and play lifestyle,” says Scott Higgins, President of HIP Developments, in a recent release.
“Steeped in history and architecture along the banks of the Grand River, the charm of decades past has never left this place,” Higgins adds. “The goal of The Gaslight District is to harness that feeling, enhance it with the creative and industrious minds in Cambridge, to show our Region, and people beyond it, how great we are and can be. We see The Gaslight District as the catalyst of a revived innovation and creative spirit fostering economic and social activity in Cambridge for years to come.”
The buildings built in the 1800s will be redeveloped to become the area’s premier dining, entertainment, and artisan destination. The public square will feature restaurants with patios and cafes, reminiscent of a Parisian district.
“The Gaslight project is a significant step forward in achieving our vision to build an innovative and dynamic city,” Craig said. “It will transform the downtown core into a place where people can live, work, collaborate, and contribute to our strong local economy.”
The redeveloped buildings will complement the historic Dunfield Theatre, as well as other recent investments in Galt, including the new pedestrian bridge and the restoration of the Old Post Office.
“This is going to be a transformational project for not only the Galt core but for the City of Cambridge,” says Joel Doherty, Director of Development for HIP Developments. “We have a grand vision for the core that will bring high tech jobs, new high-end residences and a fantastic new destination that we expect will draw people from well beyond Cambridge to enjoy the tastes and sounds in restaurants and cafes as the square comes to life with activity, local entertainment, arts and culture.”
Grand Innovation and Conestoga College have partnered to develop a 50,000 square foot innovation centre, which will create more than 100 high-tech jobs in a collaborative environment, as well as provide the school with facilities and resources to expand their research, specifically of cyber security. The Grand Innovation centre will feature workspaces, food services, presentation and recreational facilities, as well as private and public support programs offered by a not-for-profit operator.
“Grand Innovations creates an exclusive environment for applied research, innovation and enterprise creation, leveraging the assets of private, public and institutional partners to deliver solutions tailored to the needs of industry,” explains Greg Dalton, Managing Partner of Grand Innovations. “The origin and history of this icon of industrial commerce in Galt will resonate through the leading technological products, processes and services being created by resident innovators.”
This is truly a game changer for Cambridge. With all the right pieces coming together, The Gaslight District gives a glimpse of what the future holds for the city. This is a shining opportunity for young professionals, families, and investors.
“We are developing a totally unique and sustainable model for creating and supporting new high-growth enterprises that are formed as the result of addressing and solving industry challenges,” says Tim Ellis, the former CEO of the Waterloo Accelerator Centre and new leader of the not-for-profit operator. “Waterloo Region is home to many successful organizations that have had and continue to have a tremendous impact on the growth and success of the Region. The model we are creating is significantly different and services a need not currently being addressed.”
Obviously, there is a lot to be excited about when it comes to The Gaslight District. To stay in the loop, register today!