[Jonovision]

From todays Herald. Hopefully we will soon see some renderings.


Downtown makeover in the wings

Project to include much of city block


By BRUCE ERSKINE

Business Reporter

The reconfiguration of a good chunk of downtown Halifax real estate could start as early as October or as late as next spring, says restaurateur and developer Chris Tzaneteas.

“We’re getting ready to put in a pre-application with HRM," he said in an interview on Wednesday.

Tzaneteas and his business partner Costa Elles own several downtown restaurants and bars, including Opa Greek Taverna , The Argyle Bar and Grill , and Mosaic Social Din ing , all on Argyle Street.

They are planning an $11-million development that will include a 47-unit, four storey apartment complex in the space now occupied by the National Film Board building at 1572 Barrington St.

The film board building, formerly the St. Mary’s Young Men’s Total Abstinence and Benevolent Society Hall, was destroyed by fire in 1991.

The proposed development, which will include 18,000 square feet of retail space, will extend over the top of The Ar gyle and around a renovated Opa to the Farquhar Building at the corner of Barrington and Blowers streets.

The Farquhar now houses a

Venus Pizza outlet.

The developers have been awarded a $100,000 grant to maintain historic facades un der the Halifax by Design mu nicipal planning strategy’s Barrington Street Heritage Conservation District desig nation.

They have also been ap proved for $600,000 in related tax credits.

Tzaneteas said the grant and the credits don’t kick in until the development is finished.

“We have to spend at least $100,000 on facades," he said, adding that the tax credits aren’t funds coming out of municipal coffers.

“It looks like we’re getting $700,000 but we’re not."

Tzaneteas said the devel opment, which is slightly smaller than originally planned, isn’t contingent on a decision to build a new con vention centre on the former Halifax Herald lands on Argyle Street.

The province recently ex tended property owner Rank Inc. ’ s deadline until Monday to come up with more detailed plans for a new centre before it decides whether it wants to negotiate a contract with the developer.

“Argyle is a great street, regardless of the convention centre," said Tzaneteas.

Tzaneteas said the only thing that might affect the plans he does have is financ ing.

“I haven’t secured financing yet," he said, although he is in talks with a couple of lenders.

“It looks good but it’s a com plicated process," he said, suggesting that financing com plications could delay the pro ject start date to next spring.

“We’re 60 per cent there," he said. “I feel confident."

If it does proceed, the pro ject won’t include the Tip Top Tailors building at 1592 Bar rington St., which the partners have decided not to purchase.

“There were too many condi tions," Tzaneteas said.

(berskine@herald.ca)