391 ERB Street
Waterloo, Ontario
- Vacant Land
Offered together as a land assembly, 391, 393, and 395 Erb Street West comprise a combined 0.896-acre site (approximately 39,030 sq. ft.) in the highly desirable Waterloo West neighbourhood. Positioned along the Erb Street corridor, these properties benefit from convenient connectivity to Uptown Waterloo, the ION LRT, University of Waterloo, employment hubs, shopping, and everyday amenities. The site’s nearly 200' x 200' square configuration and large road frontage create an ideal canvas for future redevelopment. The properties fall within the City of Waterloo’s recently approved Community Planning Permit By-law – Erb Street Corridor, an innovative planning framework designed to streamline development approvals. The site offers an opportunity to redevelop a 6-storey mixed-use building or stacked townhouse condominiums, with up to 450 bedrooms per hectare. Existing residential dwellings on the properties may provide interim rental income while future plans and approvals are pursued. An excellent opportunity to participate in Waterloo Region’s continued expansion and intensification with a large-scale redevelopment.
Price History
Property
- Lot Size
- 0.23 acres
Schools
Elementary
- Keatsway Public School0.8 km
Public · Waterloo Region DSB · 365 students
Grade 3 reading: 79% met the provincial standard · Grade 6 math: 50% met the provincial standard
- Centennial (Waterloo) Public School0.8 km
Public · Waterloo Region DSB · 415 students
- Holy Rosary Catholic Elementary School0.9 km
Catholic · Waterloo CDSB · 560 students
Grade 3 reading: 71% met the provincial standard · Grade 6 math: 58% met the provincial standard
Secondary
- Resurrection Catholic Secondary School1.4 km
Catholic · Waterloo CDSB · 1920 students
Grade 10 literacy: 90% met the provincial standard
- Kitchener Waterloo Collegiate and Vocational School3.3 km
Public · Waterloo Region DSB · 1650 students
Grade 10 literacy: 88% met the provincial standard
- Waterloo Collegiate Institute3.3 km
Public · Waterloo Region DSB · 1480 students
Grade 10 literacy: 85% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area N2L
- Population
- 37,953
- Private dwellings
- 19,681
- Median age
- 29.8
- Average household size
- 2.2
- Median household income
- $69,500
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Vacant Land in Waterloo · last 12 months
- Median sold price
- $691,000
- Homes sold
- 1,040
- Median days on market
- 21
- Sale-to-list price
- 99.8%
Based on 1,040 recorded sales of vacant land properties in Waterloo over the last 12 months.
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Mortgage Calculator
$197,000
Estimated Monthly Payment
$4,839
Land transfer tax
Ontario land transfer tax only. An estimate — not legal or financial advice. Municipal land transfer tax applies in Toronto and is not included.
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $4,839/mo (20% down, 5.5%)
Taxes: $0/mo · Insurance: $246/mo
Estimates only. Consult a financial advisor.
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