Quote:
Originally Posted by bigguy1231
The railyards, unfortunately, aren't going anywhere soon.
Unless the city comes up with the cost for the yards and the expense of moving them there is no chance CN will give them up. Add to that the cost of remediation and we are probably looking at a billion or so dollars. Even if the city got their hands on the lands they wouldn't be able to sell them off to make their money back. The land just isn't that valuable from a market value perspective, because of the costs for remediation.
Then we'd have all the Nimby's in the North end trying to tell the developers what they can or cannot build making it impossible for them to make any money. At the price the city would have to pay turning it into parkland would be a non starter, there's just too many other priorities that need to be tended to in this city, before we pay that kind of price for greenspace.
You can dream all you want, but then reality sets in and it becomes a nightmare.
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There are nimbies in every neighbourhood, if a developer knows what they're doing they'll negotiate that. It wasn't the NEN that made Setting Sail nonresidential, it was CN. Look at the Witton Lofts, I believe that's in the North end, and White star finallyy has a green light for their condo on Bay. Condos don't need to remediate, they can encase the dirt in concrete.
The real obstacle is the value CN places on the land. But if Bratina et al care as much about this as they say then it might not be that outlandish to think that they swap this for another parcel. Insert some sweeteners in the deal.
I don't know what NuclearNerd means about 'bad redevelopment money' in Setting Sail. There's no money in setting sail. It's a secondary plan. It would have seen the whole area turned into condos and medium density streetfront retail, with maximum 2 metre setbacks and no drive-thrus, had CN not blocked the mixed use.