Quote:
Originally Posted by yellowghost
If the plans are indeed scaled down, I have lost all interest and hope decides to change location and let the building rot. I have a hunch the reason for scaling down is somehow a result of community opposition.
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You are probably 100% correct about the rot.
To build on that site with the existing building will be very costly.
Condo sales are very sluggish on Waterfront Drive and they will be a hard sell.
Rental returns are so minimal that they would lose money if that was an apartment. (The new rental grant is so bad that it really adds nothing to help out a developer and the NDP 8% PST rebate grant is even worse)
Centre Venture failed numerous times to build a Parkade on James Avenue and that will not change. (That is just more corporate welfare)
The only way to have an economical development on that site would be to level the Pumphouse.
Re-construct the facade facing Waterfront and build new towards the West.
I has been approximately 20 years now, and nothing has changed.