Quote:
Originally Posted by Drybrain
And then you've got the planned restorations of the NFB site, or the Waverly Hotel, or the Green Lantern Building (though there's a lot of variables there) and it becomes obvious that when the choice is between small-scale development and no development, developers will make good projects work on a small scale.
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I can certainly agree that they would rather have something built on site generating revenue, rather than a hole in the ground that they have to pay taxes on. I wonder about a site like St. Joseph's Square. They had an 11-storey tower/townhouse development all set to go. Residents stepped in and said it was too tall. They come back and knock two storeys off and AFAIK it was approved. But nothing has happened on site. Did downscaling the project kill any serious profit projections that wouldn't survive a few cost overruns?
I certainly hope Espace is successful and I would argue it already is because of the spinoff construction it has generated along Barrington, indirect though it may be. TD Tower is nearly finished, and the Roy and NFB are well underway.