Quote:
Originally Posted by Urban recluse
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.
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The most recent owner of 104 princess had tifs that he let expire.
There were redevelopment plans for the building that never got past the render stage.
That is a difficult property. 104 princess is in horrible condition but the exterior has heritage protection.
The 50s addition can come down, but the walls of 104 need to stay up no matter what, so it makes it a very expensive proposition.