To orient everyone (including lurkers and casual readers) to the discussion, I have made this map:
The potential commercial property up for discussion is outlined in red. Other properties recently developed, under development or proposed are outlined in blue.
a) - a good location for a commercial strip, possibly including a neighbourhood grocery store, pharmacy and local services/retailers. This property is backed by the TCH, giving good highway visibility. The presence of the highway would also tend to decrease the value of this property for residential development. Commercial development seems inevitable.
b) - two six storey apartment buildings (currently under construction)
c) - three six storey apartment buildings (approved but awaiting construction)
d) - four storey professional building to include a restaurant and pharmacy, and a four storey apartment building in behind (approved, but awaiting construction)
e) - six storey apartment building (currently under construction)
f) - four storey apartment building (proposed, awaiting PAC approval)
g) - four storey apartment building on Diamond Head Court (already built, but was not included in the aerial photo)
h) - IHOP (already built, but was not included in the aerial photo)
The rapid densification of the Magnetic Hill neighbourhood is somewhat remarkable. Between existing, under construction and proposed apartment buildings, there will easily be well over a thousand, possibly 1,500 units in this short stretch of Mountain Road and neighbouring Diamond Head Court. There is already a fair bit of commercial in the area too.
Magnetic Hill seems destined to becoming a subordinate suburban downtown core within the next 5-10 years.