Quote:
Originally Posted by csbvan
Bay Parkade won't redevelop unless policy changes. With consolidation, it's practically a city block. Staff say 100% office/employment uses. Given the office market currently and in the medium-term, the site will fester in its existing state. It is perhaps the prime site that shows why inflexible early 2000s thinking cannot be sustained in a post-covid 2020s. A real shame, given the cultural district forming in the area.
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There's existing policy from as long ago as 2006 that allows some residential use, recognising that there's a 162 bed SRO in a heritage building on the site. At the time Holborn had Henriquez design a project with minimal commercial space (2 FSR) and Council confirmed that the development would have to include the base commercial zoning. Beyond that the report at the time said that in exchange for the offered rebuilt heritage SRO the site could accommodate a total of about 10 FSR. Presumably that could be more without the height limit.
To consolidate, the City would have to sell the lane. Holborn is also required to replace the parking for The Bay (as part of the conditions of purchase that they agreed to). That's presumably an additional cost of development, and they would probably want parking of their own, although these days they aren't required to provide it.