Salter Street Block | 41 m | 12 fl | Cancelled

[macgregor]

I think that parking has been extended to April 2010.

[sdm]

News in allnovascotia that appears to be a signial that this project is in jepordy.

Looks like the land lease agreement states the development must be started in June of this year or the development could be terminated. Sounds like trouble maybe ahead.

Yet another development stalled.

[Jonovision]

That's horrible news! I still think this is one of the best projects we've seen in a while.

[someone123]

Allnovascotia also published an update of this story but there's very little new information, aside from an apparent confirmation that Centennial will still try to meet the deadline but does not plan specifically to sell assets for financing.

I do like that this project came with a deadline. It probably should have been much shorter, since this was put forward in 2005. The parking lot is like a giant open wound on the waterfront and it makes the area much less enjoyable than it should be. Something else to consider is that it is now 9 years since Bishop's Landing was completed.

Perhaps the United Gulf site should have been sold under similar conditions. The HRM could have asked for a deposit on a sale not to be completed until financing and construction.

Anyway, I don't know how optimistic I'm being, but my hope is that Centennial will start into this by June. This is definitely one of the top proposals in terms of the impact it will have on the city.

[sdm]

Originally Posted by someone123

Allnovascotia also published an update of this story but there's very little new information, aside from an apparent confirmation that Centennial will still try to meet the deadline but does not plan specifically to sell assets for financing.

I do like that this project came with a deadline. It probably should have been much shorter, since this was put forward in 2005. The parking lot is like a giant open wound on the waterfront and it makes the area much less enjoyable than it should be. Something else to consider is that it is now 9 years since Bishop's Landing was completed.

Perhaps the United Gulf site should have been sold under similar conditions. The HRM could have asked for a deposit on a sale not to be completed until financing and construction.

Anyway, I don't know how optimistic I'm being, but my hope is that Centennial will start into this by June. This is definitely one of the top proposals in terms of the impact it will have on the city.

It would certainly be good to see it go, along with Queens Landing and the lot next to the power station.

[sdm]

April 20, 2010
WATERFRONT DEVELOPMENT CORP.--Salter Development Project Reaches
Key Milestone
The Salter Block project, the biggest development on the Halifax
waterfront in the last decade, continues to move forward. Waterfront Development Corporation (WDCL) approved a key
milestone for the project, between Salter Street and Bishop's Landing. Developer Centennial Group Limited will take custody ofthe land in June.

This is the largest development on the Halifax waterfront since the award winning Bishop's Landing in 2000. "This step forward is good news for Halifax and for the growth
of Nova Scotia's economy," said Economic and Rural Development Minister Percy Paris. "The development will create jobs and new
business that will draw residents and tourists to our waterfront."

The construction phase could create about 900 direct and spinoff jobs, and more than $7 million in federal, provincial and municipal tax revenues.
"Salter is a great example of a business model that uses private sector investment to create a public space," said WDCL president
and CEO Colin MacLean. "Once long-term development is complete, Salter will be the single largest open space on the Halifax
waterfront for the public to enjoy."

The project will have 142 residential units, 75,000 square feet of retail space, a 98-unit boutique hotel and a one-acre public park. Original construction estimates from Centennial Group
Limited were $75 million. WDCL will continue to enhance public access to the waterfront by operating the boardwalk and public park. The space will also provide a venue to showcase a growing arts and culture scene,
events and recreation opportunities. With the approved milestone, which includes the landscape plan for the public open space, the developer will now refine plans for construction. The project is scheduled to have footings in place by June 2011.

It will feature two wave-shape buildings that maintain the viewplanes from Citadel Hill. It will include an all-season, indoor urban garden, linking the downtown core to the park and
water's edge. The 12-storey residential component steps down to five storeys at the water, with ground-level shopping. Salter boardwalk, part of the popular Halifax Harbourwalk, was
completed last spring by WDCL with support from the province. It will ensure public access to the waterfront throughout construction.

Over the past 40 years, Centennial Group Limited and its affiliates, including Centennial Hotels Limited and Universal Group, have built, owned and managed major real estate
developments. These include high-rise apartments, office buildings, commercial facilities and hotels in Halifax, Toronto and other Canadian cities.

WDCL is a provincial Crown corporation that oversees the lands surrounding the Halifax Harbour and Lunenburg. Recently, the corporation completed its 16th consecutive year of generating a
financial surplus from the operation of these waterfront properties. These surpluses have enabled WDCL to invest more than $30 million in public infrastructure.

[fenwick16]

This is great news. Especially that footings could be in place by June 2011 (just a bit more than one year away). This will be the largest residential project in the downtown core in a long time. Now if United Gulf goes ahead, and if the Discovery Centre and the Roy tower become residential, then these projects will have a big impact on the downtown core.

[hoser111]

Footings in place by June 2011....I guess that would imply site activity several months before that??? (site prep, excavating, etc.)

[worldlyhaligonian]

Originally Posted by sdm

April 20, 2010
WATERFRONT DEVELOPMENT CORP.--Salter Development Project Reaches
Key Milestone
The Salter Block project, the biggest development on the Halifax
waterfront in the last decade, continues to move forward. Waterfront Development Corporation (WDCL) approved a key
milestone for the project, between Salter Street and Bishop's Landing. Developer Centennial Group Limited will take custody ofthe land in June.

This is the largest development on the Halifax waterfront since the award winning Bishop's Landing in 2000. "This step forward is good news for Halifax and for the growth
of Nova Scotia's economy," said Economic and Rural Development Minister Percy Paris. "The development will create jobs and new
business that will draw residents and tourists to our waterfront."

The construction phase could create about 900 direct and spinoff jobs, and more than $7 million in federal, provincial and municipal tax revenues.
"Salter is a great example of a business model that uses private sector investment to create a public space," said WDCL president
and CEO Colin MacLean. "Once long-term development is complete, Salter will be the single largest open space on the Halifax
waterfront for the public to enjoy."

The project will have 142 residential units, 75,000 square feet of retail space, a 98-unit boutique hotel and a one-acre public park. Original construction estimates from Centennial Group
Limited were $75 million. WDCL will continue to enhance public access to the waterfront by operating the boardwalk and public park. The space will also provide a venue to showcase a growing arts and culture scene,
events and recreation opportunities. With the approved milestone, which includes the landscape plan for the public open space, the developer will now refine plans for construction. The project is scheduled to have footings in place by June 2011.

It will feature two wave-shape buildings that maintain the viewplanes from Citadel Hill. It will include an all-season, indoor urban garden, linking the downtown core to the park and
water's edge. The 12-storey residential component steps down to five storeys at the water, with ground-level shopping. Salter boardwalk, part of the popular Halifax Harbourwalk, was
completed last spring by WDCL with support from the province. It will ensure public access to the waterfront throughout construction.

Over the past 40 years, Centennial Group Limited and its affiliates, including Centennial Hotels Limited and Universal Group, have built, owned and managed major real estate
developments. These include high-rise apartments, office buildings, commercial facilities and hotels in Halifax, Toronto and other Canadian cities.

WDCL is a provincial Crown corporation that oversees the lands surrounding the Halifax Harbour and Lunenburg. Recently, the corporation completed its 16th consecutive year of generating a
financial surplus from the operation of these waterfront properties. These surpluses have enabled WDCL to invest more than $30 million in public infrastructure.

Best news in awhile.

When does the current parking agreement end for the site?

[sdm]

Originally Posted by hoser111

Footings in place by June 2011....I guess that would imply site activity several months before that??? (site prep, excavating, etc.)

Well considering the agreement states they have to begin by June 1st it would be easy to conclude that the site will be under construction before and until June 2011

[halifaxboyns]

I'm quite excited for this project. I always believed in the potential of the waterfront for Halifax and I think this will step it up another notch.

[Doggard]

From The Waterfront Development Corp. Ltd.

http://www.wdcl.ca/documents%5CParkingNoticeApr2010-Daily.pdf

[DigitalNinja]

Yay! So exciting. This will look good with bishops and the NSP HQ

[Dmajackson]

Great news.

[halifaxboyns]

Does HbD apply to this site? Or is it exempt being a crown corp? I always thought that the Waterfront Development Corp was a provincial crown corp - can anyone tell me? I'm curious.

If the heritage trust starts to oppose this, I highly encourage people to rise up with pitch forks and torches! Seriously!

[sdm]

Originally Posted by halifaxboyns

Does HbD apply to this site? Or is it exempt being a crown corp? I always thought that the Waterfront Development Corp was a provincial crown corp - can anyone tell me? I'm curious.

If the heritage trust starts to oppose this, I highly encourage people to rise up with pitch forks and torches! Seriously!

Its all good, approved already and will have no hurdles via planning polices or oppostion to proceed.

[halifaxboyns]

Originally Posted by sdm

Its all good, approved already and will have no hurdles via planning polices or oppostion to proceed.

Fantastic! I have to agree with a comment Dawne Sloane made (I think in the coast) that this is a good start to getting downtown back on track. I seem to recall she mentioned people were getting development agreements, but then not proceeding. I have to agree with her - although for different reasons.

[someone123]

The approval process took place around 2005 or so. The Heritage Trust people actually did already leave their mark on this proposal - initially it included a 150 m observation tower.

What I like most about the proposal is that it adds to what used to be a total wasteland downtown. Pre-Bishop's Landing it was basically empty below Granville and south of Sackville Street. With this development we'll actually have a real block of Lower Water Street with buildings and shops on both sides instead of parking lots. The Alexander will further add to this.

Down the road I hope we see a similar transformation for the Waterfront Warehouse area, Bank of Canada block, and United Gulf site.

[Keith P.]

WDC should be ashamed that this took 5 years to actually start happening.

[someone123]

Actually I think their selection process also took years and was fairly secretive. It's possible this development effectively started around 2002 or so.

I wonder if we'll have to wait until 2020 for the next one...