Quote:
Originally Posted by Buckey
I noted that Mcrea spoke out against the new CC in the herald. I suppose that would make sense as it might be tough to get funding if the CC goes thru.
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Hotel, office part of Halifax waterfront project clears hurdle
By BRUCE ERSKINE Business Reporter
Thu, Oct 14 - 4:53 AM
Ben McCrea is itching to get started on reshaping a good chunk of the Halifax waterfront.
"We now have the development right to proceed with the office and hotel," the founder and chairman of The Armour Group Ltd. said in an interview Wednesday.
"We’re very excited."
Armour and the Waterfront Development Corp. announced Wednesday they have agreed on a conceptual plan for the $70-million private portion of the $190-million Queen’s Landing development on the waterfront between Sackville Landing and Cable Wharf.
The private component includes 100,000 square feet of new office space, a 200-room, four-star hotel with harbour views from every room, and underground parking.
McCrea, whose company rebuilt Historic Properties in the 1970s, said under the terms of the agreement announced Wednesday, the provincial Crown corporation will demolish the BioNova building on Lower Water Street next spring.
The BioNova building houses the association representing the province’s life sciences association, which is moving to Dalhousie University.
The hotel and office complex are part of a larger waterfront development that includes the transformation of the Maritime Museum of the Atlantic into a national naval memorial.
McCrea said the hotel and office complex will move forward as market conditions dictate, noting that the convention centre project endorsed by the province on Wednesday, which includes a 400-room hotel, could flood the local market.
"The hotel business is not that brisk," he said.
McCrea added, however, that Queen’s Landing has the advantage of being located on the harbour, which he said defines Halifax, rather than being underground like the planned convention centre.
"For close to 40 years, we have focused on quality developments that create a sense of place," McCrea said.
WDCL president and CEO Colin MacLean called Queen’s Landing "the next important step" in enhancing Halifax’s waterfront, while Economic and Rural Development Minister Percy Paris called it "a significant project" that will create good jobs and grow the economy.
Armour still has to get municipal approval for the project, which is designed to meet the standards of the internationally recognized green building certification system.
A preliminary economic impact analysis on the Queen’s Landing project done in 2006 said it has the potential to create more than 1,300 jobs and generate almost $6 million in provincial tax revenue.
McCrea said Armour’s other notable downtown development, the Waterside Centre across from Historic Properties, is proceeding, although discussions are still underway with municipal officials about easements for piping seawater from the harbour to use in the project’s cooling system.
"We’re optimistic about that," he said. "We’re marketing it."
(
berskine@herald.ca)