Quote:
Originally Posted by Urban recluse
Well I understand where the arts groups are coming from, as they are struggling with the rents in the area. I am all for dozens of tech companies moving in to redeveloped buildings, as well as more residential development, but I do like the arts vibe in the area too.
Still no buyer for 104 Princess sadly. How many buildings in the area include parking? I can appreciate the amount of money needed to redevelop this building, but it has been on the market for a long time, and this area really needs a boost.
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Apparently, 104 Princess was close to being sold and redeveloped, but there is no $$$ incentives. I guess this is what Brent was talking about with the TIF being halted. This is absolute BS. The city and province (and perhaps even the feds) need to help with this, especially given that it is a national historic site. Someone has to pay $1.7 million for the properties, then about $4 million to develop them. I understand where the hesitation comes into play. I would love to see the 50s addition demolished and replaced with a glass infill, perhaps extending over 104 Princess.