Parking Lot No. 8 in Downtown Oakville is located at 334 Randall Street at the intersection of Randall and Reynolds Streets and currently accommodates 58 surface parking spaces on approximately 1800 sq. m. (0.18 ha/0.45 ac). The Town's vision for the redevelopment of Parking Lot 8 contemplates residential and commercial uses, while also increasing the number of municipally owned parking spaces on the site. The Official Plan would permit a building of six storeys in height and associated parking would likely be provided in an underground structure. This is considered a pilot site which will help determine the potential for securing additional parking through the redevelopment of surface parking lots in the Downtown area.
The OakvilleMDC intends to issue an Expression of Interest (EOI) for this site in late 2026 or early 2027 to solicit formal interest from the development industry in this pilot project. The objective of the EOI will be to understand what developers believe will be required/necessary to generate additional municipal parking spaces on this site and make the redevelopment of Parking Lot 8 financially feasible.