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Hold on. Condominium project? I recall this being approved as a rental.
Originally yes. But Reliance said financing as a rental was not tenable a few months after approval so council agreed to change it to strata.
10 (15?) years ago this was the most important development to ‘get right’ - as it was the architectural crown jewel entrance to downtown, and all that debate about public space sold to a greedy developer - it all seems so myopic now.
I’d be happy with a Tim’s drive thru on that lot now.
And yes, this has dragged on for so long now.
Big question is, how will a condo that is likely to need somewhat big dollars to make sense, going to fare without parking? This is going to be a great study case for downtown.
Great point Mike. We are seeing a lot less parking with new buildings downtown and while there is a market for this not everyone is car-less. Starlight pushed back on reducing the parking at Harris Green which I have to think was because they believe they would have difficulty renting 2/3 of the units with no parking. I would also expect a higher % of strata owners to have cars than renters.
So on the one hand No parking in a strata building may be a hard sell. But its a boutique building in a prime location with float planes practically at your door step so may be great for the right demographic. Will definitely be interesting to see how presales go when they start.
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