Transit extension expected to stimulate housing growth, attract investment, and strengthen Waterloo Region’s urban corridor
WATERLOO, ON — Build Urban, a collective of local urban developers in Waterloo Region, strongly supports the extension of the ION Light Rail Transit (LRT) project from Fairway Station to Downtown Cambridge. The proposed expansion marks a once-in-a-generation opportunity to spark new investment, create more housing, and shape the next phase of growth across Waterloo Region.
“The ION has already transformed Waterloo Region’s urban core, attracting more than $5 billion in private investment,” said Melissa Durrell, Executive Officer for Build Urban. “Extending the LRT to Cambridge will carry that momentum south, unlocking new opportunities for development, housing, and business growth.”
The Region of Waterloo’s Initial Business Case, released in September 2025, found that expanding the ION to Cambridge provides the greatest economic and strategic benefits among all options studied. The full LRT route, linking Waterloo, Kitchener, and Cambridge, would generate over $1 billion in total economic benefits, spur transit-oriented development, and attract new residents and employers to the corridor.
The first phase of the ION system, which extends from Conestoga Mall in Waterloo to Fairway Station in Kitchener, is already delivering measurable results. More than $5 billion in private development has been generated along the central transit corridor, with nearly 19,000 new residential units constructed since 2011, 91 per cent of them high-density. Municipal property tax revenues within the corridor reached an estimated $234 million in 2022, a 75 per cent increase since 2011.
“The results along the existing ION corridor demonstrate what transit investment can achieve,” said Joseph Puopolo, co-chair of Build Urban. “We’ve already seen how it has fueled new investment and strengthened municipal finances. Extending the LRT to Cambridge will bring that same transformation to underused lands and main streets, creating new housing, attracting private investment, and building a stronger, more connected region.”
Housing starts have plummeted across Waterloo Region, with the condo market facing a significant slowdown. The tri-cities are collectively adding homes at just over half the pace needed to meet their housing pledges to add 70,000 homes by 2031. While extending the ION into Cambridge is not a silver bullet to address current market challenges, it is a critical step towards stimulating investment and supporting future housing growth.
The issue is expected to come before the regional council on November 19.
For more information on Build Urban, please visit www.buildurban.ca.
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ABOUT BUILD URBAN
Build Urban is a collection of Waterloo-based developers with a shared goal of facilitating a two-way communication channel between urban development stakeholders and all levels of government. We offer our technical expertise and guidance to provide new and fresh perspectives to planning and development-related matters. We are committed to an active form of city building to support thoughtful urban, residential, commercial, and institutional land use that will serve Waterloo Region and Ontario as we continue to grow.
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media@buildurban.ca