Posted Apr 26, 2011, 2:50 PM
Join Date: Sep 2003
Fellow developer backs highrise plan
94-unit building among four planned for area
By CHRIS LAMBIE
ADEVELOPER plans to build a 15-storey apartment building in the Lake Banook area of Dartmouth.
Monaco Investments Ltd. , headed by Tony Maskine, plans to build the 94-unit structure on a site now occupied by a funeral home. Property records show Monaco bought 307 Prince Albert Rd. last spring from Granville Developments Inc. , which is headed by James Ross, getting a $448,000 mortgage from the Bank of Montreal to finance the purchase.
“I think it would be pretty good improvement for the neighbourhood," said Bob Yuille, who heads Yuille Auto Works , which is beside the site of the proposed apartment complex.
“If the renderings are any indication of what’s to come, I’d have no objection to something of that quality and standard being next door to me, that’s for sure."
Maskine could not be reached Monday for comment.
“This guy doesn’t seem to be pinching any pennies in what he’s proposing for the property," said Yuille, who has discussed the proposal with the developer.
“It’s probably going to be in the $20 million to $30 million range, I’m sure."
Some Glenwood Avenue residents have expressed concerns about the increase in traffic the building would bring, he said.
“But I don’t think 94 cars makes much of a difference," Yuille said, noting that the planned building will be aimed at seniors who likely won’t be driving a lot during peak traffic times.
“They’re looking for retirees more than anything."
Donald K. Walker Funeral Directors is still on the site, Yuille said.
“For a funeral home, they weren’t that active for the last couple of years."
The proposed apartment building’s design is “pretty impressive," he said. Yuille has been doing business in the area since 1986. Since the
Keddy’s Motel on Prince Albert Road was torn down just over a decade ago and replaced by an
Atlantic Superstore , he said the area seems cleaner and crimefree.
“It’s really helped the neighbourhood along," he said of the grocery store addition. “We used to have a lot of vandalism in this area with the cars and stuff like that. We don’t have any (of that) anymore."
Monaco is now applying to Halifax Regional Municipality to rezone the land where it wants to build. The property, which also borders on Glenwood Avenue, is deemed general commercial and two-unit residential. But the developer wants to change that to high-density residential.
“Three-quarters of the units are two-bedroom units, with the remainder as mainly one-bedroom units," said an overview of the project on the municipality’s website.
“Three levels of underground garage, with 130 parking spaces in total, are included, with eight surface parking spaces located outside. Existing mature trees on the site are to be retained."
A public information meeting on the project is slated for May 4 at 7 p.m. at Alderney School.
The area could be growing, with United Gulf Developments Ltd. proposing two 17-storey condominium towers on the former Dartmouth YMCA site near Lake Banook. The municipal planning strategy capped building heights in the area at 10.5 metres in 2005, meaning the developer would need to get an amendment to build the towers.
And Yuille is planning a condominium project of his own on Prince Albert Road, on a 1.2-hectare property at the Bartlin Road intersection, between
NAPA Auto Parts and the school.
“I have a development agreement in place," he said. “I’m just waiting on a sale of a property fromHRM. . . . It could be any day now. They’re just working out some details on how to sell it to me and give me the frontage I require."
The 14-storey, 84-unit building would likely cost more than $20 million to build, said Yuille, who also heads Twin Lakes Development Ltd.
Height restrictions that could hamper the United Gulf proposal don’t affect properties on the south side of Prince Albert, he said.
“There’s a height restriction zone that runs straight up Prince Albert Road."
Yuille, 62, said he may not build the condominium project himself. “I’m getting too old. I could sell the agreement and property to somebody who may be interested."
It's nice to see an article with a positive slant on a building from the Herald. And it clears up the issue of the height limit too.