This does sound somewhat "high profile" as the article says, and they will be putting a bit of money into the property.
I would really like to see Gottingen return to its status as a busy "uptown" sort of district that is a natural extension of the downtown and a normal place where businesses can set up shop or people can move to without worrying about crime. I don't think its ghetto status has helped anybody, including those in public housing or cheap apartments. There are affordability and social issues but those are solved by providing houses and services, not by preventing private investment in the area.
The municipal government is harming the city's poorer residents far more than developers: http://thechronicleherald.ca/busines...back-18-months
People are trying to build affordable housing
but the city is burying the projects in red tape, causing delays lasting years
, and charging nonprofits hundreds of thousands of dollars in development fees.