Quote:
Originally Posted by seamusmcduff
|
Commercial isn't one of the immediate zoning change stations, so they'd have to wait for the City's changes, which don't have to be published before mid 2024. They just got a rezoning for 3 FSR in June, and it's presumably wood-frame (from the design), and if they waited they could potentially submit a DP for 4 FSR up to 12 storeys. Maybe, if they can't sell enough of the 73 condos they're proposing, they'll resubmit with something a little bigger, but if they can't sell the woodframe condos it seems unlikely that there's a market for even more, and more expensive units, in the short term, so they'd face significant carrying costs.
Reliance has recently started building the similar density St George condos on E Broadway, not far from Main St station. They could have resubmitted for more under the Broadway Plan, but chose to build anyway. No doubt future projects will start from the new allowances, but some that are already planned will go ahead anyway.