As crews ready the historic London Roundhouse for its new tenants, developers are planning to construct a similar building and 25 storey residential high rise on the lot.
The plans were unveiled today inside the half-rennovated roundhouse, a former locomotive engine house built in 1887, which will soon be home to a few growing tech businesses.
Future developments will be mixed use, housing both retail and residential space on Waterloo and Horton St.
President of Creative Property Design Build Inc. Slavko Pretenjaca says the project will cost upwards of $50-million.
"We're hoping it will get started somehwere in the order of 5 years from now," notes Pretenjaca. "We're actually working on site plans and we're meeting with city officials... It will offer people a place to work and live in, by virute of having a highrise."
The roundhouse rennovations are coming in at $4-million.
Developers still need to get zoning changes and approval from the city, but they say initial talks have been positive.