[JonnyCanuck]

The property is still owned by LaCaille Group. They have no immediate plans to develop it given the challenging economic conditions and the cost of building concrete high rises. The recent DP was simply to keep their 'oar in the water' with the city.

 

[CCF]

 

[haltcatchfire]

The property is still owned by LaCaille Group. They have no immediate plans to develop it given the challenging economic conditions and the cost of building concrete high rises. The recent DP was simply to keep their 'oar in the water' with the city.

What are the reasons for having to keep an oar in the water with the city? It’s their land. They can sit on it DP or no DP. Seems like work and cost just to let something expire.

 

[darwink]

What are the reasons for having to keep an oar in the water with the city? It’s their land. They can sit on it DP or no DP. Seems like work and cost just to let something expire.

I'd bet it is a stupid reason. There are accounting rules reasons that if it wasn't active or potentially active in a certain time frame, that the property wouldn't count in the same way on their books. Which potentially effects loans, taxes, partnerships, etc.

 

[UrbanWarrior]

View attachment 278716

This would be great spot to have a significant residential development. Mooooore of this in the CBD!

 

[BKha]

It's nice to see this changed to a residential tower, it'll help boost vitality in the CBD.

 

[UrbanWarrior]

At 121 meters it will actually poke out of the skyline from the west and northwest views too

 

[haltcatchfire]

I don't think the application paperwork will stack that high before it hits the recycle bin.

 

[Chinook Arch]

I'd bet it is a stupid reason. There are accounting rules reasons that if it wasn't active or potentially active in a certain time frame, that the property wouldn't count in the same way on their books. Which potentially effects loans, taxes, partnerships, etc.

Could be, but they also did change the design, and that would have cost some money.

 

[Tarsus]

Could be, but they also did change the design, and that would have cost some money.

The design change would have cost some money, but fairly minimal. Once the DP was approved they’d be spending more on actually builder construction plans.

 

[BKha]

I guess there’s no render of the new design? I don’t see one so I’m assuming, not yet.

 

[Surrealplaces]

I guess there’s no render of the new design? I don’t see one so I’m assuming, not yet.

No renderoing shown publicly. There's one at City Hall kicking around somewhere, but would require an in-person visit.

 

[MichaelS]

This one (the new design) is going to CPC next week. File Report, Background Report, DP drawings

It still keeps some surface parking on the parcel to the east of the tower, but I think this is to accommodate the future redevelopment of Ceasars

 

[Chinook Arch]

A cross between Portofino and Oliver.

 

[Mountain Man]

Doesn't look very Italian to me