stjames2queenwest said:
do you know their plans for it? I live very close by and would love to see nearly anything happen with the space. Makes the corner feel dreary which is too bad since I feel like the area has improved a lot over the last little while, particularly north of the intersection.
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It's sad that the older proposal got shot down. Especially when some of those who opposed it were living in the newer builds in the immediate area. I think that corner is in desperate need for redevelopment. Alterra's a decent builder so I'm hoping they come up with something nice. Wellesley is going to be seeing some serious development over the next few years. Could say the same for Sherbourne.
 
yes but then they rezoned it, which isn't a cheap process.

Land tends to be very valuable when you are allowed to build a 35 floor tower on it.
 
Diamondcorp specializes on the planning side and Kilmer specializes in brownfield remediation (site was a gas station) and would have had expensive issues to resolve through Ministry of Environment & Climate Change process.
 
Mike in TO said:
Diamondcorp specializes on the planning side and Kilmer specializes in brownfield remediation (site was a gas station) and would have had expensive issues to resolve through Ministry of Environment & Climate Change process.
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I was actually just about to post this same point. The initial sale was lower due to soil contamination. The cost to cure would have to be subtracted from the value of the land if clean.
 
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From the Alterra website:
1.jpg
 
Not too bad! I like that it sort of presents itself as a flatiron.
 
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