Quote:
Originally Posted by Drybrain
The money required must be enormous, though. He's acquiring, then demolishing, all these properties, then sitting on them indefinitely, with an eye to eventually redeveloping them under CP zoning which will only permit a midrise spanning at most half the depth of the block. Add in moving buildings around and the costs escalate further. I'm sure there's some kind of strategy involved, but it's hard to parse from the outside, and in the meantime a major city street is getting ripped up in a pretty egregious fashion.
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I agree that it seems odd for sure, and admittedly am not aware of the scope or specifics of this activity.
My immediate thoughts center around the idea that we may be slowly transitioning from these houses being considered 'old dumps' to 'important heritage buildings', in which case development opportunities in that area may be few and far between. Seems like a potential opportunity for building 'premium level' condos in the future, thereby making the ability to buy and demolish without resistance, somewhat priceless...
Just loose speculation, though, as I don't follow this stuff as closely or in-depth as you guys tend to.
Either that, or just a super-rich dude with more money than he knows what to do with, wanting to piss off the Peggy Cameron 'friends of' lot...