This application is too soon after the downturn to be influenced by it. The decision for less height would have been initiated far earlier.Maybe they don't think they can sell that many units in Mississauga in the short term? That would make some sense given the recent market downturn and the large number of condos coming to market at MCC in the near term.
Still, would have been worth to continue rezoning process at the sought density and then either land bank the site for a future date or hope to sell to another developer willing to develop the site.
My guess is that the city probably has something to do with it. The nearby 91 Eglinton development also got reduced in height down to 37s max.
I wouldn't be surprised if the city is trying to shape the skyline for the tallest developments in the area to exist at the plazas at the intersection of Hurontario and Eglinton when they eventually get redeveloped.
|YES (11)||Mayor Crombie, Councillor S. Dasko, Councillor K. Ras, Councillor C. Fonseca, Councillor J. Kovac, Councillor R. Starr, Councillor D. Damerla, Councillor M. Mahoney, Councillor S. McFadden, Councillor G. Carlson , and Councillor C. Parrish|