Quote:
Originally Posted by curnhalio
Wow. How can a parcel of land sit so long without anything built on it? Aren't they paying taxes on the land?
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Old man, now deceased, from Toronto. He fell for the sixties BS of inner city re-development and thought he'd make a bundle. And then the residents, me included ( in the 80s) had other ideas. He had a nice house on Shore Road, Bedford overlooking the Basin.
Stubborn old bugger, had no interest in development for families to support local schools and businesses. Wanted as many apartments as possible, which didn't comply with the official plan. Didn't help him being linked in a long and detailed Globe and Mail article about gangs, intimidation and corruption in the Toronto construction industry.
About 10 years ago I contacted the province about the low assessment on the 2.1 acre lot and got the value bumped up. The assessed value today remains well below market value - where can you get a fully serviced lot for less than $50,000 ?