Good start. 18s and 24s towers are a little short. But given there is going to be other projects on the site hopefully a couple of those towers will be much taller.
A little surprised Medallion was the first developer to sign on. They already have a track record in London which likely helped them make the decision.
Hopefully they start in as soon they get the building permits approved.
Wonder who the next developers to sign-up will be? Locals like Tricar, Auburn, York, Old Oak? Or will will see some of the GTA developers come down the 401?
Quote:
Originally Posted by K85
http://www.lfpress.com/2017/05/30/so...dential-towers
London has cleared the way to redevelop some of the most coveted land in the city, part of the massive site occupied for more than a century by hospitals at the gateway to the downtown.
City council Tuesday approved a $2-million agreement with Medallion Corp., which has built rental high-rises in the east end just off the downtown, to acquire and develop one-quarter of the South Street lands cleared by demolition of buildings on the sprawling former Victoria Hospital site overlooking the Thames River.
City hall had sought expressions of interest from companies for first-phase development of the lands near the SoHo neighbourhood, which at the time was considered a rare opportunity to build on one of the choice locations in London.
In a news release late Tuesday, the city said the deal with Toronto-based Medallion "represents a major project contributing towards council's strategic plan its goals to build a sustainable city and conserve London's heritage assets."
Mayor Matt Brown described the agreement as "the opportunity of a century for a neighbourhood in the heart of our city."
Medallion's proposal calls for 18- and 24-storey residential towers, their base facing both South Street and a future promenade along the river. The historic Colborne Building on the site will, under a deal requirement, be reused for residential and commercial purposes.
The sale price for the land is $2 million.
For more on the story, return to lfpress.com Wednesday.
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