Quote:
Originally Posted by Williamoforange
Your both kinds ignoring that there are other parties involved in this then just Riocan. Namely Metro and Rexall both of which have input into this as they are major tenants for Riocan
And it's not like the area of parking and etc won't eventually be replaced.
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Yes, but that's not how development works. Riocan is the landowner and Metro/Rexall are simply tenants.They have no say in how Riocan develops their land. If they didn't agree with the plan, Riocan can simply let their leases run out and part ways, or break the lease. Riocan would obviously like to keep these high profile tenants, but placing their retail stores in the podium with towers on top would be a positive, not a negative. They are automatically adding hundreds of customers. Moving surface parking underground is also a positive. I would be very surprised if Rexall or Metro objected to residential density above. Now they're in a temporary building and will need to pack up and move again sometime in the future.
Riocan's Westgate development is the perfect example. Shopper's is moving from it's current mall location to the podium of the tower development. Parking relocated underground.