Quote:
Originally Posted by whatnext
Then they should be negotiating to defer the DCCs, the art, the park etc but not be permitted to defer the social housing.
|
I thought they're asking to defer the whole timeline for the whole project.
Again the site is quite complex (phasing page 21):
"The social housing site (Parcel E) will be dedicated to the City or transferred to the City, for the nominal price of $1.00 prior to enactment of the CD-1 By-law, at the City’s sole discretion, subject to it being fully remediated to the City’s satisfaction and as described in Appendix B. Alternately, the City will have the option to purchase Parcel E for $1.00 on conditions and terms satisfactory to the City. The applicant will also be required to construct and deliver to the City, at the applicant’s sole cost, two buildings, with approximately 175 turnkey social housing units, during Phases 2 and 3 of the development process"
Phase 1 seems "the easiest" so to speak, but I'm not sure how phased projects work in detail with CAC / DCL / DCC and service connections / parkade construction costs:
"The first phase of development will include construction of all the secured rental housing, including moderate income rental housing units" - also has a large condo component, which no one in their right mind would go to market today for... again likely in 2025.
So phase 2 / 3 completed by 2028 when phase 1 might start excavation by late 2025 or maybe early 2026 just doesn't seem possible.
Threaded Mode