Quote:
Originally Posted by MichaelS
How long will it take for the towers to get there? It could take decades (maybe even longer?).
The ARP in Chinook has been in place for about 4 years now, and we haven't seen any towers go up next to that station yet.
Having said that, zoning increase seems to have had a very quick effect on the Kensington area, so maybe it would happen quickly on Centre Street. All something to consider I guess when evaluating this project.
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Chinook has several barriers preventing quicker redevelopment.
1) Not a great location for residential to begin with compared to the numerous other options in the city
2) Most developments in the area probably have long term leases in place, and the existing tenants probably have no interest in shutting down
3) Existing form of development is lucrative enough that risking redevelopment probably doesnt have enough of an upside.
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